Debtors who have more bills than they do money each month may decide that they’re going to file for bankruptcy. This is a legal method of doing away with part or all of the debt they owe. There are different types of bankruptcies. Some require the person or business...
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Year: 2022
How many missed payments before foreclosure can start?
When borrowers miss payments on commercial or residential loans, lenders have the ability to foreclose on the property. This essentially means that they reclaim the property and they will attempt to sell it to make up what they can from the loan. One thing that both...
Taking action when a business defaults on a real estate loan
Loaning money for the purchase of commercial real estate is different from offering a mortgage for someone's primary residence. As important as a business's facilities may be to its operations, a business's property won't have the same emotional value that a primary...
Are there any downsides to agreeing to an easement?
Your neighbor comes to you and asks if they can set up a legal easement with your property. They need to be able to cross it at certain times, perhaps as they develop the property around your land or for other reasons. At first, you think it sounds like a great idea....
Investing in commercial real estate in 2022: What to know
Commercial real estate can be a fantastic investment – but you need to stay conscious of changes in the market and ongoing trends. In a lot of different areas, property prices have risen dramatically. So have rents. But not every commercial property is likely to...
Does your right to collect on a debt end when a debtor dies?
As a creditor who is owed money because you extend financing as part of your business or because you have a judgment against someone, the law protects your interests. Even if there are limitations on how you can collect that debt, you have a right to repayment unless...