Foreclosure is a little bit like gallbladder surgery: you know it exists, you hope you won't have to go through it one day, but there's no reason for you to learn more about it unless it actually might happen. For those that have gone through foreclosure, they would likely take gallbladder surgery any day. In all seriousness, is it essential for homeowners to know that foreclosures are generally classified as being judicial or nonjudicial? The first answer: it mostly depends on what state in which you live. The second answer: the type of foreclosure isn't your choice; it's the lenders'.
The pressure of student loan debt isn't limited to new grads. Americans fifty and older make up roughly twenty percent of those paying down student loans. The number of people sixty and older with student loan debt has grown faster than any other age group. Many who owe student loan debt acquired it as a consignor or by taking out loans to pay for their children and grandchildren's education. The CARES Act has given breathing room to many struggling to pay for baseline living expenses such as rent, mortgage, food, and utilities. Keeping spirits high is the Biden administration's indication that student loan forgiveness may be closer than most think.
Many have made New Year resolutions and subsequently failed to keep said resolutions; good-bye dry January, hello damp January. For others, the hope of a better year inspires them to get that divorce finally. But, as we experienced in 2020, divorce during the age of Covid looks a little different. If you're planning to file for divorce, or you're already in the process, there are some factors you should consider and some steps you can take now to prepare.
Preexisting retirement accounts are almost always factored into divorce negotiations, especially if one spouse was the family's primary income. But if an ex-spouse receives money from a normally scheduled IRA distribution, is it considered income? What if funds are withdrawn before the IRA matures? If the divorce is finalized and an ex-spouse receives an IRA from an inheritance, can the funds be subject to alimony or child support?
In the past, there were only two benefits that counted: long term institutionalization in a hospital or nursing home at government expense and receiving government cash assistance under programs such as the Temporary Assistance for Needy Families (TANF). The Trump administration changed the rules for whom could be denied a visa based on the Public Charge ground of inadmissibility. It also included other government-sponsored benefits and a way to calculate receipt of benefits for an intending immigrant to fit within the rule.
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