Archive for January, 2010

I’m posting my problem looking for hope, knowledge and advice I guess. I went thru mediation Oct. 5 after 10 months of hell. I took daily abuse emotionally, psychologically and several times physically. I lived with no money, had terrible lies told about me, was repeatedly accused of being a theif, and as I have never taken anything from anyone was one of the worst things that happened. It made me feel terrible about myself that people would believe that of me. Tried to run a business where employees were told not to listen to me and take his side or lose their job and was choked twice, leaving huge bruises and told he was going to kill me.
Ours was a 30 yr. extremely verbal and psychologically abusive marriage. We signed an interim agreement in June due to the abuse I underwent at our co-owned business where he was not to enter my office but he lived up to none of it, not only verbally abusing me daily, refusing to leave my office but three times changing the locks after large sums of money were missing from the safe, which he had to have taken, then set up to make it look as though I had and attacking me once making me call police out of fear but as he only put his fist in my face and didnt make contact when I moved he was only made to temporarily leave. Finally the last month taking the daily income and putting it either in a personal account he opened in his name or in his pocket leaving me no money for essentials such as groceries, gas or utilities. He had already ordered the secretary (who I found later he promised ,000 if she would lie about my mental capacity should this go to trial and was keeping a second set of books for him, hidden in the ceiling tiles)not to pay any of my expenses including the house mortgage, which now is in foreclosure and I was forced to rent two rooms out in my house to keep the electric on for my daughter and I while she paid everything for 2 residences he used. She prepared all of his divorce work and attended all meetings with his attorney on company time. Per his attorney, if I got money, which was usually no more than 0 a month he was to get a matching check, which the secretary did but he also took large amounts of money, unknown to me, where no matching check was ever issued to me.
After 9 hours of mediation without break, even for lunch, or him giving an inch I gave up. The thought of returning to the abuse and lack of money was too much. He knew my mental state of exhaustion from installing evesdropping and computer monitoring on my office computer and phone which he, his GM and secretary all had access to but was kept secret from me and I believe at my home and knew he could wear me down as well as any stratagy my attorney had and what I wanted as he recorded all our conversations and read the emails between us. He printed personal emails and distributed them, telling me I had left my email open on the office computer, which I knew not to be true.The next step would be trial and he had all the money and I couldnt pay my attorney. He walked away with over 2.6 M while I got less than 1 M, which included the business, I could possibly lose due to the house foreclosure or if the bank calls in the business loans as I am always late, barely able to make them after paying on his past bills. He received 30 properties, all but 4 paid for with rents coming in, 2 which are commercial that he said were unrented I have found are with large rents being paid. Two days following mediation he signed a short sale with no responsability for any dificiency on a 2M loan he had taken as his liability, which had to have already been negotiated and I found online a release of another 5,000 loan he took as a liability.
He was ordered to bring all bills current and return the money and accounting of what he took. He falsified the accounting, returning only 8.00 and paid no bills, including my home.. He had removed all business licenses and building violations cited for and unfixed which he hid from me, gotten extentions on all utilites which were ready to be shut off and didn’t leave payroll money or return the tax money withheld for the prior month from employees or sales tax. They are all looking at me for the money as I am now full owner and was 50 percent then, even though I was allowed no access to the records and didnt recieve any money. Now I scramble monthy to make the necessary payments to keep the doors open until I can get him to court for contempt.He had already taken all my jewelry, selling it or giving to his girlfriend. He continues to harrass and sabotage my business as if the mortgage isn’t paid he as comortgagee can walk in, make the payments and take it over, leaving me with no home, no income, nothing, which I believe was/is his plan.
. He ruined my credit when he stopped paying the house mortgage so a loan until I get him to court isn’t possible. He uses his former GM and his son to harrass me, posting about my mental stability on my spac

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1- A lender is promised a 0 payment (including interest) one year from today. If the lender has an 8% opportunity cost of money, he should be willing to accept what amount today?
A. 0.00
B. 8.20
C. .59
D. .40
2- The higher the Future Value (FV) of the payment, the higher will be the:
A. Discount rate
B. Present value
C. Liquidity
D. Cost of borrowing
3- The procedure of finding out the Present Value (PV) is known as:
A. Discounting
B. Compounding
C. Time value of money
D. Bond pricing
4 —————- tells us after how much time period the amount of money will become double.
A. Real interest rate
B. Nominal interest rate
C. Rule of 72
D. Time value of money
5- The interest rate used in the present value calculation is often referred to as:
A. Discount rate
B. Inflation rate
C. Nominal rate
D. None of the given option
6- The procedure of finding out the Future Value (FV) is known as:
A. Discounting
B. Compounding
C. Time value of money
D. Bond pricing
7- The price of a bond is the —————- of its payments.
A. Present Value
B. Future Value
C. Coupon rate
D. Principal amount
8- The —————is defined as the probability weighted average of the squared deviations of the possible outcomes from their expected value.
A. Standard deviation
B. Variance
C. Mean
D. Median
9- The difference between real and nominal interest rate is
A. The cost of borrowing
B. The effect of inflation
C. The price of bonds
D. None of the given option
10- The Future Value (FV) of 00 in 5 years at 5% interest rate will be:
A. 00.00
B. 76.28
C. 9.99
D. 00.52
11- Stock exchange is an example of:
A. Financial instrument
B. Financial institution
C. Financial market
D. Bank
12- Which of the following is NOT an example of financial institutions?
A. Banks
B. Securities firms
C. Stock exchanges
D. Insurance companies
13. Which of the following are used to monitor and stabilize the economy?
A. Governments
B. Commercial Banks
C. Central Banks
D. Financial institutions
14. Financial instruments are evolved just as much as _____________.
A. Currency
B. Stocks
C. Bonds
D. Commodity
15. Previously financial markets are located in which of the following?
A. Coffee houses or Taverns
B. Stock exchanges
C. Bazaar
D. Coffee houses and Stock exchanges
16. We need __________ to carry out day to day transactions
A. Money
B. Bonds
C. Stocks
D. Loans
17- Among the following which one is less liquid asset?
A. Checking account
B. Car
C. Share
D. Debit card
18- Which of the following is the final mode of payment?
A. Money
B. ATM
C. Cheque
D. Yet to discover
19- Debit card works in the same way as which one of the following?
A. Cheque
B. Credit card
C. Store value card
D. Pay order
20- Banks use to handle transactions among themselves, through which one of the
following?
A. Debit card
B. Electronic transfers
C. Credit card
D. Store value card

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We owe too much on a truck..way more than it’s worth..it’s financed as a second mortgage.(Commercial Loan) ?? What would happen if the truck was totaled? Would the insurance company pay for what we owe on the truck? Just curious.

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I have a commercial pocket listing. I told a mortgage lender I know that deal in commercial loans and told him if he had someone interested let me know. He calls me the other day and says he has an interested buyer BUT, there’s always a BUT. But, it’s not his buyer, he has another friend that is a commercial lender and it’s his buyer. The buyer does not have an agent so I will be facilitating the deal. The mortgage lender wants a 3% "finder’s fee" and my friend the lender wants 1% of the total purchase price from me (out of my commission, which is 2.5%), or they won’t bring the buyer to the table. Can the buyer’s lender get a 3% commission, my head and R.E. laws tell me NO, I already know I can’t pay my "friend" the lender 1% since he isn’t licensed? I am extremely perplexed by this, he tells me "it’s done all the time" I had never heard of it.

Can the buyer pay them a finder’s fee? My seller thinks they’re nuts, I am inclined to agree

Thanks for the help!

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I have been divorced since 2002.My ex has filed chapter 13 against his marital debt in an effort to avoid having his property sold via a writ of execution to satisfy this debt. It is 4.5 acres of unimproved commercial property that is currently listed with a realtor for million. However, the realtor has an erroneous address to this listing on his web site and my ex has another erroneous address on his chapter 13 documents. He is also claiming in his Ch. 13 the land is only valued at ,000. which is obsurd.

Another thing that is maddening is that he talked me into signing for a 2nd on this property shortly after we were married in 1993 because he did not qualify,and was subsequently assigned this loan in our divorce ( he owned the land prior to our marriage) . He never Refinanced and has been chronically late with payments,even allowing it to go into default a few times, all on my credit,,AND now he has that loan also listed on his Ch. 13 he’s filing against,,,,which will effectivly be on my credit as well…I’ve now had to hire another Atty ( BK atty) to help me with this $$$

How do I expose his lies about the erroneous addresses he’s using. My Atty is scratching his head about this.

Geez, my credit has been mutilated by this jerk and I cannot move on with my life. He’s was a free loading bum who abused me I supported pretty much through-out our marriage,,and now a ball and chain I can’t seem to shake loose. In a Ch. 13 he will be making payments to me for the next 5 years if it’s confirmed by the court next month..HELP!!!!!!
P.S
With regard to the answer by ‘AJJ’..Sorry, but I’ve seen the movie "Slum dog Millionaire" perhaps you should too.

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I found a apartment in Kansas that is worth 27 Million dollars and i will like to ask can you give me names and phone numbers or even website of lenders who can give me 100% seller financing?

Also Can a apartment that never had debt do have no apraisal?

please give me a answer thank you
The apartment building is 98% occupied good cash flow
The seller said that the property has no dept that the reason why they dont have a appraisal

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I would like to broker a loan for a small business, but I’d like to have a contract in place before I make the connection, just to be safe. I have no idea where to look for a sample contract. Everything I find is for real estate loans, not business loans.

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I have a building I need to refinance. What is the quickest (safest) way to refinance?

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I was also thinking apartment complex, but do you have to get financed by a bank, and will they let you rent out the house? And how d you get financing for apartments?

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I have been paying deligently every month on my line of credit and now the bank is considering not renewing my loan. They hold the second mortgage on the commercial property and another bank holds the primary loan. What is the worst case situation the bank can force upon us??? Can they garnish my wages, credit, selling the property, etc? Help…someone. Thanks

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Looking to get an apartment building but I don’t have the money, credit or documentation, therefore I need something secured such as a asset based. I live in nyc and the property is there as well. No upfront fees. i can’t afford any fees that the property can’t cover.
I plan to hold the property as the asset
non recourse financing

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1. What is the landlord known as when signing the lease?
2. A service such as light, power, or water is known as what?
3. one who takes possesion of an apartment and has the intention of living there is called a what?
4.What is known as a pledge or a down payment?

This is for my financing class btw

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I want to refinance the building so I can pay off debt that I acquired because I rehabed the apartments, and I would like to start my own business in one of the commercial units.

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im like deadlocked on info to find a way to build my credit up but it seems like i get denied for everything what should i do?

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The most common answer I will probably hear is: "ask the bank". But I need a more detailed answer. Thank you in advance for your help.

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