Protecting assets with strong wills during coronavirus era? Talking to only one lender. This one is a biggie. First-time buyers might get a mortgage from the first (and only) lender or bank they talk to, potentially leaving thousands of dollars on the table. “A good mortgage loan officer can look at your situation and diagnose any potential roadblocks ahead to give you a clear understanding of your home-buying options,” Arteaga says. How this affects you: The more you shop around, the better basis for comparison you’ll have to ensure you’re getting a good deal and the lowest rates possible. What to do instead: Shop around with at least three different lenders, as well as a mortgage broker. Compare rates, lender fees and loan terms. Don’t discount customer service and lender responsiveness; both play key roles in making the mortgage approval process run smoothly.
Many people make their home their personal sanctuary and decorate it with family photos, memorabilia, religious decor, personal keepsakes, among other items. You want to make sure to remove all of these items, pack them up, and put them in storage. A good way to do this is to pretend that you are moving out. De-personalizing your home is extremely important because the buyer wants to visualize your house as their own. It is difficult for a buyer to do so if all of your personal items appear as if you are marking your own territory.
When a state of emergency was declared in Ontario, and other provinces in March of this year, probably no one expected that four months later we would still be looking at working remotely and arranging client meetings by video means or in socially distanced settings. For some estate planning lawyers, the rush of clients looking to update wills or prepare them from scratch was almost overwhelming. For others who were wanting to “give back” by offering free or minimal cost services to front line health care workers, there was little interest from the workers themselves. Discover even more information on Wills And COVID-19.
Video-witnessing should therefore be a last resort for those cases when there is no other option for getting a Will signed. The government have issued guidance on the steps to be followed. All parties need to be present at the same time by way of a two or three-way live video link. The witnesses must be able to see the will-maker signing the document, not just their head and shoulders. The Will/Codicil then needs to be taken or posted to the witnesses to add their signatures, again via further live video session(s) with clear sight of the witness signing.
Side Hustle to Make More Money: Are you happy with the amount of money you’re taking home each year? If you’re like most of us, a little bit of extra cash each month could go a long way. So, why not start a side hustle to supplement your income? Don’t worry. You don’t have to sacrifice all of your free time to start a successful side hustle. One of the big advantages of side hustling is that you can do it when you want and as much (or as little) as you want. The best advice I can give you is to start. Use any extra time you can find and make a little bit of progress every day. Soon you’ll be addicted to the side hustle lifestyle. So, how much money can you really make with a side hustle? Well, that’s the other awesome thing about side hustling, the income is virtually limitless. Since you’re not getting paid by the hour or a set salary, it’s really up to you to decide how much you want to earn. The more you feed your side hustle, the more it grows.
Real estate finance transactions have witnessed breaches, and potential breaches, of loan to value ratios (LTV) and/or interest cover ratios. Some lenders have been amenable to agreeing to LTV covenant holidays up to a period of one year (and the waiver of their rights to obtain property valuations at the borrowers’ cost for the corresponding holiday period). This has in particular been the case in the retail sector and in relation to loans that were performing pre-COVID 19. Other lenders have agreed to equity cures of financial covenant breaches, with some lenders acting in a spirit of co-operation and going as far as waiving any prepayment penalties resulting from an equity cure. We have also seen an increase in the use of cash trap and cash sweep provisions under existing facility agreements to preserve cash in the structure and ensure the servicing of debt. See additional information at https://techbullion.com/wills-and-covid-19-safeguarding-your-assets-during-a-global-pandemic/.