The Business Of Loaning Money

By James Copper

Most lending institutions are in the business of loaning money for home buyers or businesses, and have no desire to go through the repossession process for someone who has defaulted on their mortgage. The process of booting someone out of their home or commercial process can be long and costly procedure and working through financial problems with the current owner is often cheaper and easier than taking ownership of a property.

However, in many situations lenders find that repossession may be the only option they have in securing repayment on the defaulted loan and begin the steps to claim the property as their own. Once the process has begun, there are avenues for the debtor to follow in the courts to attempt to retain ownership, but the stipulations are spelled out ion law, and without meeting those requirements, the borrowers will have trouble maintaining rights to the property.

[youtube]http://www.youtube.com/watch?v=mM98p7cmV44[/youtube]

Typically, once a foreclosure order has been sought by a lender, the borrower will have a set amount of time to bring the mortgage up to date, before the entire unpaid balance comes due and payable. Once that time has passed and the mortgage remains in arrears, the entire balance must be paid to stop the repossession proceedings. Since this is unlikely to happen, the courts sometimes give the owner time to sell the property, if it can show that selling the property will provide sufficient funding to satisfy the mortgage agreement.

If the deadline to sell is not met, the borrower can appeal the foreclosure proceedings, but if that fails, repossession of the property is usually granted to the lender and the borrower is evicted from the property. Once vacated, the lender is considered the legal owner of the property and has all legal recourse to collect the balance due on the loan as well as any costs incurred during the process. This can all be avoided however, if the borrower keeps in close contact with the bank.

In most cases, the property is put on the market for sale, or put up for auction and once sold the previous owner is liable for any portion of the balance not covered by the sale of the property. If the sale nets more than what is owed, the lender is obligated to forward the balance to the previous owner. Although this is a rare occurrence, if the property appraisal is high enough, and has built up untapped equity, it is entirely possible.

Most people view repossession as an end to their financial life and accept the probability that they will never be able to own property again. However, once their financial obligations are dissolved and they have rebuilt a positive credit history, there are alternative lending sources that may be willing to take the risk of offering another mortgage in the future. There are many ways to go about rebuilding credit and a wise financial advisor can help with the challenging task. Credit scores are quite important and it is worth the time and effort to repair them for the future.

About the Author: James Copper is a writer for

any-loans.co.uk

Source:

isnare.com

Permanent Link:

isnare.com/?aid=200593&ca=Finances

Colleges offering admission to displaced New Orleans students/OH-WY

See the discussion page for instructions on adding schools to this list and for an alphabetically arranged listing of schools.

Due to the damage by Hurricane Katrina and subsequent flooding, a number of colleges and universities in the New Orleans metropolitan area will not be able to hold classes for the fall 2005 semester. It is estimated that 75,000 to 100,000 students have been displaced. [1]. In response, institutions across the United States and Canada are offering late registration for displaced students so that their academic progress is not unduly delayed. Some are offering free or reduced admission to displaced students. At some universities, especially state universities, this offer is limited to residents of the area.

Contents

  • 1 Overview
  • 2 Ohio
  • 3 Oklahoma
  • 4 Oregon
  • 5 Pennsylvania
  • 6 Rhode Island
  • 7 South Carolina
  • 8 South Dakota
  • 9 Tennessee
  • 10 Texas
  • 11 Utah
  • 12 Vermont
  • 13 Virginia
  • 14 Washington
  • 15 West Virginia
  • 16 Wisconsin
  • 17 Wyoming

Deadly illegal sexual enhancement products appear on the Singaporean market

Friday, April 11, 2008

New ‘deadly’ sexual enhancement products have been found in Singaporean markets and can cause serious side effects on users.

The Health Sciences Authority (HSA) announced the presence of the illegal drugs, known as Power 1 Walnut, Santi bovine penis erecting capsule, Zhong Hua Niu Bian and fake Cialis, which have been discovered over the past 3 months. Santi bovine penis erecting capsule has been found to contain high amounts of glibenclamide, a potent drug used to treat diabetes. The tablets also contain sildenafil and tadalafil – potent western medicines used to treat erectile dysfunction. Zhong Hua Niu Bian also contains sildenafil and glibenclamide.

High consumption of the tablets can be potentially deadly as the glibenclamide in the capsules can lead to drastically reduced blood sugar levels which can lead to seizures, stroke, coma or death. Consuming half of a Power 1 Walnut capsule has led to unconsciousness and frothing at the mouth.

Consumption of Power 1 Walnut has led to the death of a middle age man last week who fell into a coma. Currently, one death and two cases of coma have been reported from the total of 89 hospitalised cases linked with the consumption of the illegal drugs. It has been revealed that patients obtained the drugs by purchasing them from illegal peddlers located in various parts of Singapore.

The HSA has advised people to stop consuming the drugs and to report on any cases of consumption to them.

Uber suspends self-driving car program after pedestrian death in Arizona, United States

Wednesday, March 21, 2018

On Monday, the United States ride-sharing company Uber announced suspension of its experimental self-driving car program after one of the cars fatally struck a 49-year-old woman pedestrian in Tempe, Arizona on Sunday night.

The company characterized the suspension of the program — in the Phoenix area and also in Pittsburgh; San Francisco; and Toronto, Canada — as a standard response in the wake of the accident. Uber released a statement that “Our hearts go out to the victim’s family. We are fully cooperating with local authorities in their investigation of this incident.” According to a spokeswoman, the company is also conducting its own investigation. It was reportedly the first time someone died in an incident involving a self-driving car.

Elaine Herzberg was hit at about 10 pm local time (UTC -7) on Sunday when she walked into the street with her bicycle about 100 yards or less from a crosswalk. She died later in hospital. The Volvo car was operating autonomously. Sylvia Moir, chief of police in Tempe, told the San Francisco Chronicle that according to the human operator in the vehicle — Rafaela Vasquez, 44 — “it was like a flash”, there was no time to override the computer to take evasive action, the first indication was the sound of impact.

The police stated the car was three miles per hour (mph) over a speed limit of 35 mph. According to Moir, recordings from the car’s video cameras indicated it would have been “difficult to avoid this collision in any kind of mode”. Moir told the San Francisco Chronicle that while she “[wouldn’t] rule out the potential to file charges” against Vasquez, “preliminarily it appears that the Uber would likely not be at fault in this accident”.

Uber started its Arizona self-driving test program in February 2017, using vehicles that had been banned in California due to safety concerns. The next month one was involved in a collision while in self-driving mode after another car failed to yield the right of way; the Uber SUV rolled on its side.

Eurovision ’73 winner Anne Marie David discusses her four-decade career and the Contest, past and present

Monday, February 16, 2009

In the 1970s, she was one of the most popular female vocalists in France, and became well-known internationally. Anne Marie David, from Arles in the south of France, parlayed her initial success from playing Mary Magdalene in the French production of Jesus Christ Superstar into taking home the “grand prix” at the Eurovision Song Contest in 1973. Her winning song, “Tu te reconnaîtras” (You will recognize yourself), became a Europe-wide hit that spring.

At the height of her popularity, David perfomed world tours, and even lived abroad in Turkey for a time. In 1979, she tried once again to win the Eurovision, and placed a respectable third. Her song “Je suis l’enfant soleil” (I’m a child of the sun) became similarly popular across France and in the Francophone nations.

As time went on, however, her place in the French music scene became less certain. Touring the world had taken a personal toll, and David decided to retire from music completely in 1987. However, with the help of her fan base, she was coaxed out of retirement in 2003 and is returning to a part of her life that she tried to leave, but never left her. Celebrating four decades in the music scene, David is looking forward to adventurous new projects and a newfound zest for life.

Anne Marie David corresponded with Wikinews’ Mike Halterman about her eventful career, her personal anecdotes regarding living abroad, her successes in past Eurovision contests and her grievances with the way the show is produced today. This is the second in a series of interviews with past Eurovision contestants, which will be published sporadically in the lead-up to mid-May’s next contest in Moscow.

DaimlerChrysler to sell Chrysler Group for $7.4 Billion

Monday, May 14, 2007

The DaimlerChrysler Corporation has announced that the corporation is divesting itself of the Chrysler Group by selling it to New York City-based private equity firm Cerberus Capital Management for US$7.4 billion. The companies’ names are announced to be changed to Daimler AG and Chrysler Holding LLC. DaimlerChrysler has sold 80.1% of its stake in Chrysler, retaining the other 19.9%, for joint ventures and other agreements and partnerships.

Cerberus has agreed to take on billions of dollars in pension and retiree health care costs at Chrysler. Cerberus also led a consortium that acquired the majority stake in April of last year in GMAC, the financing arm of GM, and is said to planning to invest in auto parts giant Delphi.

Buzz Hargrove, the president of Canadian Auto Workers said he had been assured that the collective bargaining agreement with Chrysler would remain and that jobs would not be eliminated.

The name change of the German company DaimlerChrysler to Daimler AG is pending shareholder approval at the next meeting, scheduled for fall 2007.

Wikinews interviews Joe Schriner, Independent U.S. presidential candidate

Saturday, April 17, 2010

Journalist, counselor, painter, and US 2012 Presidential candidate Joe Schriner of Cleveland, Ohio took some time to discuss his campaign with Wikinews in an interview.

Schriner previously ran for president in 2000, 2004, and 2008, but failed to gain much traction in the races. He announced his candidacy for the 2012 race immediately following the 2008 election. Schriner refers to himself as the “Average Joe” candidate, and advocates a pro-life and pro-environmentalist platform. He has been the subject of numerous newspaper articles, and has published public policy papers exploring solutions to American issues.

Wikinews reporter William Saturn? talks with Schriner and discusses his campaign.

President of Guinea-Bissau assassinated

Monday, March 2, 2009

According to officials, João Bernardo Vieira, the president of Guinea-Bissau, was shot to death on Monday in his palace by renegade soldiers.

“President Vieira was killed by the army as he tried to flee his house which was being attacked by a group of soldiers close to the chief of staff Tagme Na Waie, early this morning,” Zamora Induta, a military spokesman, said to Agence France-Presse, insisting that “this was not a coup d’etat.”

“We reaffirmed our intention to respect the democratically elected power and the constitution of the republic,” he said. “The people who killed President Vieira have not been arrested, but we are pursuing them. They are an isolated group. The situation is under control.”

Induta also said that the president was “taken down by bullets fired by these soldiers,” and that afterwards they looted his home. “They were taking everything they could carry, his personal belongings, the furniture, everything,” Induta said.

The assassination is believed to be a revenge for a bomb blast that killed one of Vieira’s rivals, the army chief of staff General Batista Tagme Na Waie, just a few hours earlier.

The constitution says that the nation’s parliament chief, Raimundo Pereira, is to succeed Vieira in the case of his death.

Jean Ping, the chief executive of the African Union, said that the assassination of the president was a “criminal act”.

Guinea-Bissau, located on the western coast of Africa, has had a history of coups, and is one of the world’s poorest countries. It is notorious as being a transit point for the cocaine trade between Europe and South America.

João Bernardo Vieira, born in 1939, came to power in Guinea-Bissau during a coup in 1980, but was forced out in 1999 when a civil war started. In 2005, he returned from his exile in Portugal to participate in the nation’s elections, and won the vote.

US adds 173,000 jobs in August; unemployment rate drops to seven year low

Monday, September 7, 2015

The US economy added 173,000 jobs in August, the Bureau of Labor Statistics reported on Friday. The unemployment rate fell from 5.3 to 5.1 percent, the lowest since April 2008.

Although August job gains were lower than most economists forecast, job growth numbers for June and July were revised upwards by a combined 44,000. Average job gains over the past three months stand at 221,000, compared to March-May’s 189,000 monthly average. Over the past twelve months, job growth has averaged 247,000 per month.

Average hourly earnings rose 0.3 percent, or 8 cents, marking the largest increase in earnings in seven months. Hourly earnings had risen by 6 cents in July. Wages have risen by 2.2 percent over the past year.

Job growth in August was primarily concentrated in the health care and social assistance, financial activities, and professional and business services sectors. Those three areas of the economy added a combined 108,000 jobs. Food service and drinking places employment increased by 26,000 over the month, and other economic sectors saw employment hold steady. Manufacturing, on the other hand, saw employment decline by 17,000 in August. A stronger dollar and worldwide economic weakness make US exports less desirable, leading to a flattening in manufacturing employment so far this year after steadily rising in the early years of the US economic recovery.

The solid overall job gains led analysts to slightly raise expectations for a decision by the Federal Reserve to raise interest rates this month. Investors raised the likelihood of a September rate increase from 26 percent before the jobs report to 30 percent, and stocks dropped by over one percent on Friday. “The payrolls data is certainly good enough to allow for a Fed rate hike in September,” said Deutsche Bank’s head of currency strategy, Alan Ruskin. “The big question is still whether financial market volatility will scupper the plans.”

“This is the first time the market has looked at a Fed meeting and really has no idea what the Fed is going to do,” said Mark Kepner, a New Jersey equity trader with Themis Trading. “Right now you’re looking at the overall uncertainty and that’s what’s hanging on the market. I don’t think this number in and of itself changes how somebody’s going to vote.”

South Korea: Fire in hospital housing elderly people kills at least 37

Friday, January 26, 2018

Fire broke out on Friday morning and destroyed the bottom two floors of a six-story hospital in Miryang, South Korea, killing at least 37 people, most of them elderly. More than a hundred injuries were reported, with eighteen people in critical condition. This is the highest death toll from fire in South Korea in almost a decade.

The fire is believed to have started at about 7:30 local time, according to fire chief Choi Man-woo. It originated on the ground floor in the emergency room as per various officials. The hospital has 98 beds and a medical staff of about 35, and specializes in long-term care of elderly patients. It adjoins a nursing home, all of whose 94 residents were evacuated. Staff carried some patients out of the hospital on their backs.

One patient, Jang Yeong-jae, who told his story to JoongAng Ilbo, said he escaped by removing a screen from a window to get to a ladder placed by firefighters. He described people “running around in panic, falling over and screaming as smoke filled the rooms”. The majority of the victims died from smoke inhalation and are believed to be elderly, said the head of the city’s public hospital, Chun Jae-kyung. A doctor, a nurse, and a nursing assistant have died, according to the fire service; it took three hours to put out the fire.

In a press briefing, Seok Gyeong-sik, the director of the hospital, apologized to patients and their families. Son Kyung-chul, its chairman, stated that there were no sprinklers because the facility was small. Sprinklers are being installed in the nursing home, where a new law requires them by June 30.

Last month, 29 people died in a fire in a gym in Jecheon; the owner and the manager were arrested for safety violations. In 2014, a blaze in a nursing home in Jangseong left 21 dead. The President of South Korea, Moon Jae-in, responded to the Friday fire by calling an emergency meeting of his staff, and promised that the cause would be found rapidly “to prevent the recurrence of the fire in the future”.