Mortgage is defined as a legal agreement that is drawn between a building, a society, a bank, etc., and the borrower of money in exchange for taking the title of the property of the borrower until the borrower repays the principal amount along with interest. If the borrower fails to perform the same, the title will of the property will lapses to the lender. Mortgage default occurs when the borrower fails to pay the borrowed amount within a stipulated time period. This can be at the end of the entire repayment procedure or can take place intermediately. Handling mortgage default Mortgage default as mentioned above is the failure to pay a certain amount within a stipulated time period. This can lead to foreclosure but not immediately. Lenders follow a procedure where they wait for a period of 200 days from the date of default for the completion of the payment before they move in for the foreclosure. This can be handled if one follows the following essential steps that ensure the same: Do not give up: Many people think that as soon as a default occurs, there is nothing that they can do and that their property will reach the foreclosure stage.

To manage personal finances, checking accounts are the most essential accounts. They are the center point of finances where the expenses of an individual go out and the income goes in. Since it is so important, therefore it is very essential for an individual to pick the best of the checking accounts. People are offered a list of these accounts to choose from which also include those options that provide no ATM fees, cash back rewards, and so on. Here is a list of the best checking accounts provided by American banks that will provide the customer with the best. Charles Schwab Bank The best checking account comes from an investment company and not from a traditional bank. The accounts were designed originally for the investors of Schwab, but they began gaining popularity as these accounts offer a low fee, the opportunity of using any ATM in the world without being charged a fee, and no minimum balance requirement. The only drawback of this account is that it does not allow the person to deposit any cash. The account offers the similar features as the other online banking account like free debit card, free checks, free transfer of funds to the accounts belonging to the other banks or the ones at the Schwab itself and free bill payments.

Liquid assets refer to assets that can be used by an individual or a company in the form of hard cash. The higher the liquidity of an individual or a company, the more powerful their credentials are. So, liquid assets are a vital part of a financial profile. For a better understanding, take a look at the answers to some commonly asked questions on liquid assets. Which investments are considered to be liquid? Any investment that can be turned into cash immediately without losing value is considered a liquid asset. Some examples of liquid assets are stocks, mutual funds, bonds, and money market funds. These can be easily changed to their cash value to help the owner with funds. It is important that there should be no penalties in withdrawing money. A certificate of deposit (CD) can also be considered a liquid asset if there are no penalties in withdrawal. On the other hand, a car, expensive artwork, and real estate are not liquid assets two main reasons: They may depreciate in value over time They take time to be sold for their right value, and so, do not provide immediate liquidity Why is the liquidity of assets important? Consider liquid assets to be your emergency fund.

A debt means borrowing money from an external source with an agreement to pay the principal at a future date along with the interest. It is often the preferred route for start-up companies to raise finances for operations. Even the healthiest of the corporate balance sheet will reflect some degree of debt. While banks remain the best source for debt financing, private companies or individuals like family members or friends are the other options. Pros of debt financing No dilution of ownership- You are contractually obligated to repay the debt on the decided due date, but there is no dilution of ownership or external control in the operations of the business. You are at liberty to take all decisions in critical matters of the company. Tax deductions – The government directly helps corporations and businesses, as they are the engines of growth in any economy. As such, one big advantage that companies enjoy is tax deductions on the principal amount and interest payments when it comes to the cost of borrowing. The company can call the loan amount and the interest payments “business expenses” and deduct it from their income. It is prudent to think of Uncle Sam as a partner in your business with his stake equivalent to whatever the business tax rate may be.

Tax season can be very stressful, however, you do not have to let it stress you out. Since most people do not do their own taxes, they do not fully understand how easily the process can be. Unfortunately, if you do not educate yourself about taxes, then you can be overwhelmed with the requirements. Filing your taxes online can be very easy. With a few things in mind, you will be sure to complete them and get what you’re owed: 1. State sales tax  State sales taxes are a definite write off on your taxes. A lot of people forget about sales tax being a write-off. If people don’t remember to write off their sales tax, then they will not get the largest return possible. Some states don’t even have an income tax. This is one of the most forgotten tax deductions. 2. Reinvested dividends Reinvested dividends can save you a lot of money. Unfortunately, most taxpayers do not know that reinvested dividends will save them money. Mutual funds are a commonplace of the taxpayer’s dollar. Since so many investors take advantage of having mutual funds dividends reinvested automatically, their “tax basis” is raised. When a tax basis is raised, you pay lower taxes on your capital gains.