ALL >> Real-Estate-and-Foreclosure >> View Article
How To Avoid Foreclosure
Having a home is the one thing that gives property owners a great feeling of accomplishment and creates a positive attitude towards life as well. Owning a property not only represents a physical shelter and a place to share the best memories with the ones that we love but it can also be a financial shelter for many unexpected problems that can befall us.
Since properties are often thought to be a way out of financial problems, if the right amount of equity has been built over time, refinancing a property sometimes is a good idea. The fact that many home owners incur in many credit card based expenses is a good reason to take a bit of equity to relief the interest rate burden.
The truth is that constant property refinance can lead to no equity when the owner needs it the most. If the home owner has a structured settlement and is receiving periodical payments then this might help, but often this is not the case. Home owners need much more than just a small monthly payment to remain financially solvent and to avoid loosing their precious home.
Foreclosure is a real problem which needs to be addressed as quickly ...
... as possible, that is why it is always a smart move to turn a structured settlement into a lump sum. Having these funds available immediately can make the difference of sleeping in an apartment or sleeping on a comfortable bed at home.
When a home owner incurs in foreclosure it often means that he can no longer cover the minimum monthly payments established by the financial institution lending the funds. To the mortgage payments we often see credit card payments, car payments, second mortgage or HELOCs, tuition, utility bills, property insurance, medical bills, interest rate changes, etc.
As you can see, if we add together all of the expenses mentioned above it can add up to incredibly high amounts which almost no property owner is ready for. Structured settlements represent future money which in many cases is quickly depreciated through inflations, lost interest, etc. This particular financial instrument is worth much more as present money instead of future money. We can illustrate this point better by asking the following question: 'What is worth more, one hundred dollars today or one hundred dollars in ten years?'. By now you should be able to see exactly what structured payments are, and if managed correctly, they can help property owners save their homes.
Add Comment
Real Estate and Foreclosure Articles
1. Lavender – Elegant Homes For Modern FamiliesAuthor: Dishant
2. Discover Your Dream Property: Edmonton Homes For Sale
Author: Haupt Realty
3. Ace Divino: A Premier Destination For Relaxation
Author: Invest Mango
4. Aipl Joy District: A Premier Commercial Hub In Sector 88, Gurgaon
Author: AIPL Joy District
5. M3m Capital’s Fitness And Wellness Amenities: A Healthier Lifestyle
Author: Khushi Singh
6. Flats For Rent In Phase -9 Mohali
Author: Ravinder Kumar
7. Flat For Rent In Pancham Society
Author: Ravinder Kumar
8. Write For Us-nirwana Estate
Author: Ravinder Kumar
9. Flat For Rent In Gobind Apartment
Author: Ravinder Kumar
10. Real Estate Agent Akash Singh
Author: Ravinder Kumar
11. Real Estate Prices Fall In Mohali
Author: Ravinder Kumar
12. Property Maintenance And Repair Management In Bahrain's Rental Market
Author: Hannan
13. Total Environment Jakkur
Author: Total Environment
14. Redefining Spaces: The Role Of Architects In Dehradun With Heritage Architects
Author: Heritage Architects
15. Dholera Solar Park: Shaping The Future Of Clean Energy In India
Author: Tatvam Dholera SIR