Posted on 18 February 2010. Tags: Mortgage Financing, Mortgages, recovery in home sale, tax
Prepares bank mortgage war on forecasts of a recovery in home sales in coming quarters for tax reasons and prosecutors. However, the granting of mortgages will be more selective.
Economic recovery and reform of the VAT will be incentives that will drive new home purchase in mid-2010, according to Cristina Martín, director of Inter-bank Mortgage Financing.
For this reason, financial institutions prepare for more competitive products for customers in the second half of 2010, although the risk policy of banks will remain stricter than years ago. In a situation with a default rate above 5% as the current institutions are clear that “we have to see what customers are interested in and what not”
On a mortgage at 100% with prices down, ensuring that the bank receives less than the money it lends, so it is necessary to study more to customers, according to the entities. sectors more difficult it is: young people and non-residents.
Posted in Mortgages, The Provision of Mortgages
Posted on 28 January 2010. Tags: declare bankruptcy, filing bankruptcy, lawyers., loan, process of declaring bankruptcy, tax
In general, declare bankruptcy should be considered as a last resort for debt because the results are lasting and far-reaching. The Law on Bankruptcy Abuse Prevention and Consumer Protection Act established stricter rules for consumers and lawyers.
The process of declaring bankruptcy is now more difficult for debtors:
- Debtors must file more documents, including detailed statements of monthly net income, proof of income (pay stubs) for the past 60 days and tax returns last year.
- To pay off debts, debtors must receive credit counseling before filing bankruptcy and after an educational course.
- Debtors facing higher fees for filing bankruptcy, plus the charges for credit counseling and educational course.
- The request and the bankruptcy process is more complicated, so it is very difficult to declare it without the help of a lawyer.
The process of declaring bankruptcy is now more difficult for attorneys:
- The signature of an attorney in an application certifies that counsel has conducted a reasonable investigation of the circumstances that gave rise to the request.
- Attorneys must carefully review documents such as tax returns and pay stubs, as well as requesting credit reports to customers.
- The attorneys may be sanctioned if they make mistakes in the process.
Posted in Bankruptcy Loans
