Jul 17

These Times Are Really Hard

I was trying to tell my daughter who was looking to get her first job that she was supposed to dress in a business casual way to go to interviews so that she could find a job and set a good first impression. I was not very happy to see that she wanted to wear old, torn up jeans to her first interview. I told her that she had to change. She got the job at the shoe store where she had been wanting to work forever and I was really happy to see that a person doing secret shopping went to her store on her first day of work and reported back that my daughter had a ton of positive things to say to the woman and her choice of shoes. In addition, my daughter was reported to be very kind and caring. People always say that your first impression is your best one and I am glad that I taught her well. Before long, she was promoted to a key holder.

While she was going to college, she had to tell them not to give her so many hours as they were getting in the way of her studies. She preferred to close the store instead of open it so she took all morning classes. I give her a lot of credit for giving up a lot of the nights out with her friends that she did. She ended up paying for half of her tuition in lieu of having to take out student loans and she also decided to pay for her own books. I could not be more proud of my daughter and the life and work ethic that she is already showing. I know when she is ready to graduate that she will have a great job offer.

May 07

Request an extension of the mortgage

Sometimes we are unforeseen and see illiquid to meet them, whether at home or enterprise level, if we are autonomous or business owners. One of the ways with which we have in these cases to deal with this lack of liquidity is an extension of the mortgage or, in technical terms, a novation of it.

If we decide to do it, knowing what method should we choose to be most suitable for our situation.
Modalities

The extension of the mortgage can be done two ways:

Expanding the amount, ie, increasing the amount of money that the bank lends us to change the extension. According to experts, this modality is that we must choose whether we are looking to fill a capital shortfall.

Extending the term. Thus, what we achieve is a reduction of the monthly mortgage, so this option is more convenient if you have suffered a reduction in income due to unemployment, wage cuts, etc..
additional mortgage

Often if banks consider too risky to grant an extension of our mortgage, because our credit history is not very good, tend to use an alternative, such as a mortgage complementary.

In this case, we beautifully well and good with numbers, since the interest rate at which we offer this new mortgage are usually much higher than those of the first, so that we can share out pretty high. That is why this method is the least chosen.
subrogation

Finally, it is also appropriate to consider whether, in these cases, we would more advantageous to the mortgage subrogation, ie sign it with another entity and on more favorable terms, which we also can lead to higher liquidity to month