Loaning money

Most of the information you find here is easily available on the internet. You should contact your attorney to obtain advice with respect to any particular issue or problem. The opinions expressed at or through this site are the opinions of the individual author and may not reflect the opinions of the firm or any individual attorney. Please Read our Privacy Policy and Legal Disclaimer Get free mortgage help today. Since 2007, the LoanSafe forums have helped millions of homeowners over the last 13 years either save their homes with a loan modification, obtain a short sale, forbearance, or walk away legally from their underwater mortgages. I figure paying the mortgage and student loans is more important if I have to decide which one to pay. Should we just continue ignoring the calls and letters?

If for some reason, we can start paying, should we focus on my debt first just in case of law suit since I have a job and the house is in my name.

The creditors can sue to collect these debts via any bank accounts, real estate, motor vehicles, or other property you own jointly could be vulnerable to being seized once a judgment has been won. The comments by me and the materials available at this web site are for informational purposes only and not for the purpose of providing legal advice. Most of the information you find here is easily available on the internet. You should contact your attorney to obtain advice with respect to any particular issue or problem. The opinions expressed at or through this site are the opinions of the individual author and may not reflect the opinions of the firm or any individual attorney. Please Read our The comments by me and the materials available guaranteed payday loans bad credit at this web site are for informational purposes only and not for the purpose of providing legal advice. Most of the information you find here is easily available on loaning money the internet. You should contact your attorney to obtain advice with respect to any particular issue or problem. The opinions unsecured personal loans poor credit expressed at or through this site are the opinions of the individual author and may not reflect the opinions of the firm or any individual attorney. Since 2007, the LoanSafe forums have helped millions of homeowners over the last 13 years either save their homes with a loan modification, obtain a short sale, forbearance, or walk away legally from their underwater mortgages.

I posted a very general question earlier this week in another area of this Credit Card area and received no responses.

Over the past 5-6 months, I have used my Citi card quite a bit to help pay regularly budgeted items, so that I could manage the mortgage payment on my own.

My self-employed husband was hurt this past winter and has not been able to work, so consequently could not provide our mortgage payments as he would have normally. I am looking into loan modification and am getting some help with pulling all that together.

But, when you look at my whole financial picture (right now)..

The banks would not talk to her about helping her until she was denliquent for 90 days.

Does anyone know if what I spelled out here is true? I think next statement more, because have used again. I have consistently received offers to transfer balances from all kinds of banks over the past years.

Would I come out ahead (if they allow that large of a balance transfer..

Okay, I guess it would go without saying that payday loan no credit check instant I would pull out ahead on that kind of deal.. Are there any drawbacks connected to doing something like that?

Does anyone know if there is anything else I should consider.. The basics of what will happen are your credit scores will fall (who cares), and the lender(s) will start harrassing you to make your payments. Eventually, they will charge the debt off, and most likely turn it over to a debt collector. The final act would be to sue you for default on the payments. Now, with that said, you might luck out and be able to work out a settlement instead of lawsuit, but most times the lender wants to see your financials first. While on the grand scheme of things such is not a lot, what other debt do you have? You might want to consult with cheapest payday loans several bk attnys on this issue. Only saying you should educate yourself as to ALL of you options. The basics of what will happen are your credit scores will fall (who cares), and the lender(s) will start harrassing you to make your payments.

Eventually, they will charge the debt off, and most likely turn it over to a debt collector.

The final act would be to sue you for default on the payments.


Cash lender

Now, with that said, you might luck out and be able to work out a settlement instead of lawsuit, but most times the lender wants to see your financials first. Most of the information you find here is easily available on the internet.

You should contact your attorney to obtain advice with respect to any particular issue or problem. The opinions expressed at or through this site are the opinions of the individual author and may not reflect the opinions of the firm or any individual attorney. Please Read our Privacy Policy and Legal Disclaimer The comments by me and the materials available at this web site are for informational purposes only and not for the purpose of providing legal advice.

Most of the information you find here is easily available on the internet. You should contact your attorney to obtain advice with respect to any particular issue or problem. The opinions expressed at or through this site are the opinions of the individual author and may not reflect the opinions of the firm or any loaning money individual attorney.

When the payments got too large I went to the largest one and explained everything and frankly they had absolutely no mercy--could care less. Then they said they needed x payment the minimum we can accept. Well that minimum was more than I could or would pay. I reached a decision that day--a hard one--but I gave up my fight to keep my good name with that company.

It was a forced decision in that my top priority was to qualify for a loan modification and the payments of all the credit cards would have made my ratios off and thus not get the loan mod. So all 4 of the credit cards were stopped at the same time... I kept one card that loaning money had originated about 15 years ago...

That credit card debt was all sold off to collection loaning money agencies.

I of course received many calls for a period of time which I never answered.

So every few months I may get a letter from a new CA that has taken over the account. My loan modification worked out fantastically with a small house payment. I rented out 2 bedrooms in my house for additional income I needed to get the loan mod...

You need to keep your mental health and concentrate on survival and keeping your home.

I figured I was alone now I see that is not the case.

I figured I was alone now I see that is not the case. The lenders have received payments faithfully for about 7 years on each house and the loans are interest only (the 2nds). Before going down the trail I have the past 3 years... Since 2007, the LoanSafe forums have helped millions of homeowners over the last 13 years either save their homes with a loan modification, obtain a short sale, forbearance, or walk away legally from their underwater mortgages. My question is, will the IRS tax me into oblivion and consider this loans at home profit? If so, I guess that would increase how much I need to sell it for? Keep in mind that your tax profit is the difference between the amount you paid for the home and the amount you sold it for. Some people get this confused for the actual amount they received cash at closing (ie instant loan today profit). Also you did not mention anything about depreciation? Since this was an investment home you need to reduce your cost by the depreciation allowed.

Whenever you sell business or investment property and you have a gain, you generally have to pay tax on the gain at the time of sale.

IRC Section 1031 provides an exception and allows you to postpone paying tax on the gain if you reinvest the proceeds in similar property as part of a qualifying like-kind exchange. Gain deferred in a like-kind exchange under IRC Section 1031 is tax-deferred, but it is not tax-free. The exchange can include like-kind property exclusively or it can include like-kind property along with cash, liabilities and property loaning money that are not like-kind. If you receive cash, relief from debt, or property money in advance that is not like-kind, however, you may trigger some taxable gain in the year of the exchange.

There can be both deferred and recognized gain in the same transaction when a taxpayer exchanges for like-kind property of lesser value. This fact sheet, the 21st in the Tax Gap series, provides additional guidance to taxpayers regarding the rules and regulations governing deferred like-kind exchanges.