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3 Steps to a Smooth Home Closing

The process of purchasing a home is exciting yet stressful. To enjoy a smooth and successful buying experience, it’s helpful to plan ahead for every part of the purchasing process.

Closing, also known as settlement, is the final hurdle before your new home officially becomes yours. It requires a meeting between the home sellers, buyers, and lawyers in order to sign documents that transfer property ownership. It is also the time to pay closing costs and escrow payments. These tips will help you enjoy a simple and stress-free closing on your new home.

Keep A List and Check It Twice

Since there are countless steps that must occur before closing day, such as a title search, home inspection, and document approval, and each component needs to be confirmed and approved before closing day arrives. Something as simple as one single missing document can delay or even cancel a closing, so cross every task off your list twice.

This includes reviewing loan documents in advance. You have the legal right to review your closing settlement statement at least one day before closing, which gives you the chance to ensure your settlement matches the good faith estimate you received at the start of the loan. If you will need to sign it on closing day, it’s wise to read it the day before and ensure that everything meets your expectations. Continue reading “3 Steps to a Smooth Home Closing”

How You Know If a Debt Collector is Harassing You

Debt is easily created, but not easily remedied. Medical bills, college loans, and credit card bills hang over the majority of Americans like a black cloud. If you’re in debt but struggling to pay your bills, you’re probably already receiving calls from debt collections. These creditors are required to stay within the legal limits of debt collection, but if they become to aggressive it is considered creditor harassment, and you have legal means to put a stop to it.

The Fair Debt Collection Practices Act

The FDCPA regulates the behavior of debt collectors in order to protect customers in precarious financial situations. Under FDCPA rules, a debt collector must identify himself during every phone call, notify you that you’re speaking with a debt collector for the purpose of collecting money, provide the name and address of the original creditor, and provide verification of the debt if requested. Continue reading “How You Know If a Debt Collector is Harassing You”

Don’t Make These Mistakes After Your Auto Accident

The minutes and days after a car accident are stressful, chaotic, and surreal. You may not be thinking clearly or realizing the full implications of your actions, but it’s important to act with purpose. The decisions that you make following your auto accident with largely influence your ability to pursue compensation for the damages you experience. Above all else, avoid the following mistakes.

Mistake #1: Being Too Active on Social Media

If you are involved in an insurance claim or lawsuit relating to an auto accident, chances are that your social media accounts will be combed for any signs of dishonesty or inconsistency. Even a neutral post has the potential to be manipulated into proof against your injuries, so it’s best to simply stop using social media while your case is pending. Continue reading “Don’t Make These Mistakes After Your Auto Accident”

What Is Contempt of Court?

The American court system is designed with specific checks and balances to punish inappropriate behavior. Contempt of court is one such way that the courts address people and actions that defy court orders.

If you currently have an enforceable court order with a spouse or ex-spouse, contempt of court could have an influence on your life. Use the following details to educate yourself on this issue, prevent your own contempt of court problems, and be prepared to act if the other person involved in your case shows signs of contempt of court.

What Is Contempt of Court?

Contempt of court is any violation of a family law court order, such as a court order for child support, spousal support, child custody, child visitation, and splitting of assets. Contempt is named as such because it is seen as a willful disregard or of disrespect for the authority of a court of law. In family court, contempt most commonly occurs in the form of failure to pay child support or follow a custody order. Continue reading “What Is Contempt of Court?”

How Will Divorce Impact Your 401K and Social Security Benefits?

divorce lawyer myrtle beachDivorce doesn’t just throw your emotions into a blender. It also casts confusion over your 401K assets and social security benefits. It’s important to understand the financial implications of your divorce so you can plan accordingly for the future.

What Will Your Divorce Do To Your 401K?

A prenuptial agreement is the best preventive way to avoid problems in a divorce. Though prenups have a bad reputation, they are a prudent way to separate individual property from joint property in a marriage. This simplifies the division of assets in a divorce.

However, most Americans don’t use a prenup. In this case, you should stop making voluntary contributions to your 401K as soon as you realize you’re heading for divorce. If you don’t stop contributing, you run the risk of adding money to your 401K for years during divorce proceedings, only to have a portion of those funds go to your ex-spouse.

You can also speak to your lawyer about making arrangements for excluding funds that were in your account before your marriage. This would mean that only funds added during the marriage would be split. Assuming you had a valuable 401K before your marriage, this could be a wise move. Continue reading “How Will Divorce Impact Your 401K and Social Security Benefits?”