Posts tagged ‘Worth’

Is it Worth Disputing a Will?

The reading of a Will is quite a stressful experience when also trying to deal with grief at the loss of a loved one. This is especially the case when you believe that the Will is unfair or wrong. Disputing a Will may therefore be the best option to resolve this.

It might be the case that your loved one has died and after years of looking after him you never thought about who would write a Will for him. When he died, notification from the lawyers suddenly arrived about his Will…The beneficiaries appear inappropriate choices and you believe he was not mentally able to make a Will. If this is your case, then you may be able to contest the Will. For this kind of situation, medical evidence can be very important to support your claim.

Another common situation where people decide to contest a Will is when they suspect it hasn’t represented the deceased’s true wishes. If you were very close to the person who died (as a spouse or a child) it is your right to complain if you think his wishes have been betrayed or not properly reflected.

Property is often a contentious subject involved in the reading of a Will. Certain people have to be adequately provided for when someone dies. This can include; spouses, civil partners, children and even ex-spouses – particularly those under 18 or in full time education. It also includes anyone receiving financial support from the person at the time they died and any live-in partners.

One of the most common cases for disputing a will is ‘the promise’. Simple promises regarding inheritance can be binding. For this situation to be relevant, you need to show that you have acted in some way to your disadvantage in relying on the promise.

Promises regarding ownership of property made at the time a property is bought can also lead to you to having rights, even if your name is not on the Title.

Sometimes, a husband and wife agree to make their Wills on the understanding that they will not change them. If one of them passes away then the other may be restricted from changing their Will. It’s important to find out about this before you embark on any further proceedings. An experienced solicitor can be of great help if you decide to go ahead with disputing the will. Make sure that you choose one who specialises in making an inheritance claim and disputing will cases and get expert professional advice.

Disputing Credit Report Errors: Not A Quick Fix, But Worth It

Disputing Credit Report Errors: Not A Quick Fix, But Worth It
Most of the information on the reports will be the same, but sometimes companies don't report to all three bureaus. If negative information has popped up on one report, see whether it's also on the other two. You're entitled to one free credit report …
Read more on NerdWallet (blog)

5 Things You Absolutely Need to Find in Your Credit Reports
You probably already know it's a good idea to review your credit reports and your credit scores. But what happens when you get a copy of your credit report and you aren't sure what to make of it? In a recent survey by, 27% of consumers who …
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Is identification theft defense well worth the money?

Is identification theft security worth the amount of money?
Money said CCCSOK has already established numerous clients who have are available in trying to get their economic household back in order after identification theft. “The smartest thing can be done to safeguard yourself from identity theft should monitor your reports monitor your credit history all …
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Sony Photographs Hack: How To Prevent Identity Theft
Start thinking about subscribing to an identity-protection solution. It's well worth having to pay $ 15-$ 30 every month if you know your identity is at grave danger of becoming taken. Some identity-protection services monitor activities beyond the purview of credit-reporting companies …
Find out more on Tom’s Guide

Tx Legal adds identity theft security coverage to combat rise in information
With computer system hacking and safety breaches at well-known merchants making headlines, more individuals are watching the chance of identification theft. The procedure to bring back one's credit once it was compromised could be time intensive and expensive.
Find out more on San Antonio Business Journal

LifeLock Introduces Identity Theft Coverage for Business Information Breach
TEMPE, Ariz., Nov 17, 2014 (BUSINESS WIRE) — LifeLock, Inc. LOCK, -1.74% an industry leader in proactive identification theft security, introduced a brand new service for businesses to incorporate identification theft protection into their information breach reaction programs …
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LeaderOne Financial Corp. Introduces New Jumbo Mortgage Solutions for High-Net Worth Borrowers

Chicago, IL (PRWEB) October 08, 2013

Amid the housing recovery, many home-buyers are rushing to take advantage of todays low mortgage rates, but jumbo mortgages for high-net-worth individuals can be surprisingly elusive, according to David Goldhirsh, a Chicago-based mortgage banker and vice president of LeaderOne Financial Corp.

So LeaderOne Financial Corp. is offering a suite of jumbo mortgage products that address many of the challenges high-net-worth borrowers face in the home-purchase and refinance arenas.

In Illinois, a jumbo mortgage is a mortgage loan exceeding $ 417,000. Small business owners, doctors in residency and investors taking depreciation on assets are among the high-net-worth individuals who often find themselves on the outside looking in when it comes to these loans, due to the rigid underwriting guidelines that arose following the housing crisis, says Goldhirsh. To many lenders, these types of borrowers can appear to be high risk because of inconsistent income, high debt-to-income ratios or sheltered assets.

“Its exasperating when youre making a nice living and doing all of the right things from a financial-planning perspective, and youre yet getting turned down by bank after bank,” says Goldhirsh. “There are millionaires with perfect ascribe who cant get the same terms as someone with a 620 FICO score.”

Goldhirsh works with a number of portfolio lenders who offer jumbo mortgages for high-net-worth individuals that address a variety of special circumstances.

High Net Worth, Low Income

One common scenario is the high-net-worth borrower who doesnt show enough adjusted gross income on paper to qualify for a large mortgage. Variables that can reduce adjusted gross income include low or negative partnership income, deductions for depreciation of large assets such as equipment or real estate, or even sizable alimony or child support obligations.

According to Goldhirsh, one option for this borrower is an asset depletion loan. In this type of loan the lender factors liquid assets, such as stocks, trust funds, or retirement savings (for individuals 62 and over) into the income calculation. The additional income is amortized over 30 years or until the borrower reaches age 85, whichever occurs first.

For example, lets assume a 50-year-old borrower with $ 2 million in liquid assets has an adjusted gross income of $ 10,000 per month but needs another $ 5,000 to qualify for their desired loan amount. The lender can amortize the $ 2 million over 30 years and, assuming a 5% rate of return, count another $ 10,736 toward the borrowers monthly income more than enough to qualify.

Pledging Assets, Preserving Cash

For other borrowers, qualification isnt the issue but rather cash management. The typical minimum down payment on a jumbo mortgage is 20 percent. Thats a lot of cash on a $ 1 million or $ 2 million home purchase. And while high-net-worth individuals might have access to those funds, they might not want to liquidate investments to free them up, as that could trigger capital gains taxes or disrupt other more lucrative investment strategies.

According to Goldhirsh, a good option for these borrowers is a pledged asset loan. With this product, the borrower can make a reduced down payment of 10 percent by pledging any additional required funds in the form of held securities or other liquid assets. Borrowers can continue to trade funds within the pledged account but are not allowed to withdrawal the funds for a period of time without the consent of the lender.

Since any family member can pledge assets on behalf of another family member, this is also a popular program for parents who are helping their children buy real estate. Goldhirsh notes that a pledged asset loan can also be used with a variety of property types including second homes and investment property.

Other programs that address common challenges for mortgages for high-net-worth individuals include:

????10 percent down payment for loans up to $ 750,000 or 20 percent down up to $ 2 million. ????Loans to foreign nationals. ????Loans for non-warrantable condominiums, including certain new-construction condos and condos in buildings with a high percentage of non owner occupants. ????Cash-out refinances up to $ 1 million (most lenders will limit cash-outs to $ 200,000). ????Loan amounts up to $ 5 million (or higher on a case-by-case basis).

“There are creative, competitively-priced solutions for a lot of scenarios,” said Goldhirsh. “Oftentimes, a borrower hears no from private banking and calculate theyre stuck, but there are some great programs out there if you know where to look.”

For more information, contact David Goldhirsh, LeaderOne Financial Corp., 773-384-5300, davidgoldhirsh(at)leader1(dot)com.

About David Goldhirsh

David Goldhirsh, NMLS number #8804, is a licensed mortgage banker in Illinois, headquartered at 1540 W. North Ave., Suite 200, Chicago, IL 60642. During more than 16 years of residential lending, Goldhirsh has been responsible for the origination of more than 2,000 loans with an aggregate value of more than $ 500 million. Goldhirsh offers competitively priced solutions across the full lending spectrum from FHA loans to jumbo mortgages.

LeaderOne Financial Corporation is an Illinois Residential Mortgage Licensee, MB 6760699 and is licensed by the Indiana Department of Financial Institutions. First Lien Mortgage Lending License #18715 and licensed the Wisconsin Department of Financial Institutions, License # 43800BA. Corporate Headquarters: 11020 King Street, Suite 390; Overland Park, KS 66210, NMLS ID #12007 This publication is for educational purposes only and does not constitute a loan approval or loan commitment.

Identity-Theft Monitoring Programs Worth a Look

Identity-Theft Monitoring Programs Worth a Look
Why pay for a company to monitor your credit reports when you can get them free? In a 2009 study, the Consumer Federation of America found that ID-theft programs exaggerated what they could deliver to customers and failed to provide clear information …
Read more on Kiplinger Personal Finance

Advocate data breach highlights lack of encryption, a widespread issue
23 statement, Advocate announced the breach, adding that it had sent letters to the affected patients and had offered them one year of credit monitoring. Advocate also said it had “reinforced our security protocols and encryption program with associates.

Fort Worth ISD, AECOM win honor for bond management program

Class picture of pupils inside hotel administration. Undated, however, appears to be 1920’s. Troy picture.
credit management
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Collection: Human Ecology Historical Photographs

Title: Class photo of pupils inside hotel administration. Undated, nevertheless appears to be 1920’s. Troy photograph.

Collection #23-2-749, item DD-H-03
Div. Rare & Manuscript Collections, Cornell University Library

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Fort Worth ISD, AECOM win honor for bond management program
The Fort Worth school district along with a bond administration fast have been provided an honor recognizing development quality inside North Texas. The Celebrating Leadership inside Development Excellence Awards system, according to a district information launch, …
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Credit Suisse's Asset Management Organization Named CLO Manager of the Year
NEW YORK, May 28, 2013 /PRNewswire/ — Credit Suisse's Asset Management company now announced it was called "CLO Manager of the Year" at Creditflux's 2013 CLO Manager Awards.
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zlien Files Lawsuit Against The National Association of Credit Management For
zlien's website contains a significant amount of mechanics lien, bond claim plus credit administration resources for construction credit experts. These resources are custom produced by, or beneath the direct guidance of, certified construction attorneys.
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