Real Estate Survival Guide with Terry Story
Business:Investing
Today’s chat with Boca Raton real estate agent Terry Story begins with an article she gave to Steve titled “Distressed Homeowners: It’s Bankruptcy Season.” Terry says she’d never heard of such a thing as “bankruptcy season” and was baffled at first to learn that it occurs “at the same time as March Madness.” It turns out that many people in dire financial straits wait until this time of year because they plan to use their tax refunds to hire an attorney to help them file bankruptcy. While acknowledging that some folks really can’t afford an attorney without a windfall (tax fund or otherwise), Terry feels that this is probably not a great reason in itself to file Chapter 7 bankruptcy and that, instead, it should be considered when someone is struggling badly and overwhelmed by debt. To put some numbers to this situation, Terry argues that if your debts—whether medical, credit card, or high-interest loans—are equal to or more than 50% of your annual income, or you can’t see any way of paying off all your debts within the next 5 years, or your debts are interfering with other parts of life like the need for a new car or to save for retirement, you should seek professional guidance from an accountant or attorney.
July 12th - It’s a Seller’s Market for Now, But Things Could “Flip”
July 5th - Increase In Fannie Mae’s Debt To Income Ceiling Should Make Your Next House Easier To Buy
June 28th - Why Are Millennials Buying Homes Rather Than Renting Them?
June 21st - How Will Eliminating The Property Tax Deduction Affect You?
June 15th - It’s Hurricane Season Again! Do You Have The Right Insurance?
June 7th - The Stress Of Moving Is Keeping People At Home
May 31st - Low Housing Inventory Is Frustrating Would Be Buyers
May 24th - Looking For A Retreat? How About Vero Beach?
May 18th - Home Sales And Prices Spring Forward
May 10th - How To Guarantee A Return On Your Home Improvement Investment
May 3rd - What To Do When Your HOA Goes Rogue
April 19th - The Home Affordability Crisis: Are You Being Priced Out Of The Real Estate Market?
April 12th - Worried About Thin Credit? Get Back On The Grid!
April 5th - Real Estate Prices Are Higher Because Of Millennials Buying Homes
March 29th - How To Buy A Home When You Already Own A Home
June 21st - How Will Eliminating The Property Tax Deduction Affect You?
Aug. 9th - Think Outside The Box To Win In Today’s Tight Housing Market
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