The Meaning of a Strategic Default

As the economy is still in a bad state, more homeowners are choosing to walk away from their homes, leaving not only their residence but the mortgage payments as well. This new trend is what is now being referred to as a strategic default.  This is when a borrower has the money to pay the mortgage but decides not to.

Many homeowners are choosing to walk away from their mortgage payments.

The reason might be that while those, such as banks, government, and big corporations, frown on homeowners that make a decision to go this route and not take responsibility, they do not hold themselves to the same “high” standards. In recent years, there have been several corporations that have been discovered to have stolen pensions from workers that have been there for years, leaving them with no savings. How are these people supposed to afford a mortgage payment every month with no money, after working at a company for 30 or 40 years?

Banks have also been known to “release” businesses from paying their mortgages or lend money to companies with little or no equity. This is not to even mention the help they receive from the government when they supposedly have no money to pay salaries.

Yet, they show up at these meetings, as they did in recent years In Washington, D.C., in limos and private jets. Some banks have also been known to buy defaulted loans or credit cards from other companies. The results are they can’t collect on the debts as well and end up destroying their own creditworthiness.

Another fact that is told to borrowers that choose to strategically default on their mortgage loan is that it will bring down property worth of the neighborhood. While this might be true when you have mounds of debt, do you really care about the property value? A neighbor’s property really isn’t really a concern of another neighbor. This is especially true in a market where if you look up and down any block in America, you are guaranteed to see at least two or three homes in foreclosure.

Pothole Accidents: Who’s Responsible?

Most motorists do not realize the serious of pothole accidents. Potholes can be as a big as a foot wide and several feet deep. Even if you are driving and slow down to go over one, the wear on your vehicle, especially if it is on your neighborhood street, can be damaging over time. This is not to mention if you don’t see a pothole and run right into it; the impact can cause your tire to blow and injury to yourself and passengers in the vehicle.

Potholes are typically caused by several factors such as constant driving over a tear in the street, the asphalt is damaged, or weather elements such as sleet and hail. Rainwater is one of the biggest factors in creating potholes and causing them to grow bigger. Supposedly, it is the responsibility of the city to fix holes and cracks in the streets immediately to prevent them from becoming potholes. Because some cities do nothing to repair the many potholes littering their streets, this is one of the main reasons pothole accidents are on the rise.

The parts of your vehicle that are affected most by driving over a pothole are the shocks and suspension. Studies have shown that going over a pothole unexpectantly is like having a car hit you at over 30 mph. This can lead to you losing control of your car and causing an accident.

One suggestion is that people should take pictures of potholes in their neighborhood and surrounding areas. Next, contact your local city hall about fixing them. It is their responsibility to do so.

To reduce your chances of being a victim in a pothole accident, it is recommended to slow down and drive carefully over any potholes. In the event that you do become involved in a pothole accident, be sure to contact a personal injury attorney specializing in motor vehicle accidents. They can help you deal with the insurance companies and city to get the full monetary compensation you deserve.

What Is A Property Tax Consultant

What Is A Real estate tax Specialist

Connecticut Alumni Reception
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Property tax specialists resemble real estate tax attorneys other than they have no special law degree, however do work to accomplish outcomes. You can use a real estate tax expert to minimize or protect your taxes on a property. They can help you with filing the documents for an appeal, help you find all the essential documents and they will go to all the hearings with you. The majority of the property tax expert company’s have their own qualified appraisers. The experts have important resources for obtaining needed info prior to going into any property tax hearing so you are prepared.

Property tax specialists need to be properly educated to work as a licensed tax expert. To end up being certified, a consultant has to submit an application with said state, comprehend and commit to the code of ethics, submit to a criminal background check and complete the needed education that the board authorizes for all property tax specialists in every individual state. After all of these requirements are complete, you are then certified or denied a permit to be a tax specialist. A legal representative nevertheless just needs to get a tax specialist permit given that they have had the law school training.

To end up being a property tax expert, you need to have a high school diploma and a minimum of 4 hours of continuing education classes that relate to the legal system. A business that has a senior tax specialist likewise need to use the candidate and you need to pay the registration costs. In some states, a certified property broker can get and receive a real estate tax consultant permit also.

Need to You Use A real estate tax Lawyer Or A Consultant

This is a question that is best addressed by asking yourself, who will service you much better. Most of the times, both will be matched for the work. The attorney might cost more, however they both can do an exceptional job of helping you with any of your home tax concerns. The consultant may be dedicated to your certain case, where a lawyer may have numerous customers to work with at one time. The option is truly as much as what you desire and who will make you feel much better about doing the work. Most experts work with their own appraisers, that makes it simpler to obtain the results you need faster than if an attorney, has to wait for a company to become available.

In either case, you can select someone that is qualified to help you contest your home tax bill or any other problems you might have with the bill. Bear in mind that if you use a lawyer or a tax consultant, you will still need to pay them to represent and help you with the process whether you win your appeal or not. This is true in almost all cases, unless you find a business or lawyer that guarantees results or you do not pay. This is however extremely rare for professionals that are developed in the business and have a credible business practice.

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