Editorial & Advertiser Disclosure Global Banking And Finance Review is an independent publisher which offers News, information, Analysis, Opinion, Press Releases, Reviews, Research reports covering various economies, industries, products, services and companies. The content available on globalbankingandfinance.com is sourced by a mixture of different methods which is not limited to content produced and supplied by various staff writers, journalists, freelancers, individuals, organizations, companies, PR agencies Sponsored Posts etc. The information available on this website is purely for educational and informational purposes only. We cannot guarantee the accuracy or applicability of any of the information provided at globalbankingandfinance.com with respect to your individual or personal circumstances. Please seek professional advice from a qualified professional before making any financial decisions. Globalbankingandfinance.com also links to various third party websites and we cannot guarantee the accuracy or applicability of the information provided by third party websites. Links from various articles on our site to third party websites are a mixture of non-sponsored links and sponsored links. Only a very small fraction of the links which point to external websites are affiliate links. Some of the links which you may click on our website may link to various products and services from our partners who may compensate us if you buy a service or product or fill a form or install an app. This will not incur additional cost to you. A very few articles on our website are sponsored posts or paid advertorials. These are marked as sponsored posts at the bottom of each post. For avoidance of any doubts and to make it easier for you to differentiate sponsored or non-sponsored articles or links, you may consider all articles on our site or all links to external websites as sponsored . Please note that some of the services or products which we talk about carry a high level of risk and may not be suitable for everyone. These may be complex services or products and we request the readers to consider this purely from an educational standpoint. The information provided on this website is general in nature. Global Banking & Finance Review expressly disclaims any liability without any limitation which may arise directly or indirectly from the use of such information.

HOW TO PROTECT YOUR HOUSE DURING FINANCIAL CRISIS

You don’t have the money to pay for your home loan, you are scared the lender will sell your home, ever heard about homestead it can help you during difficult situations. A homestead protects your equity on the house, if the money you have borrowed is lesser than the price of the house then the homestead can protect your share in the house. You can have two types of homestead automatic and declared.

In case of automatic homestead you don’t have to go for any paper work if you live in the house you owe, it gives you time to sell your house. The declared homestead is a legal one for such a homestead you need to satisfy several conditions, this homestead is applicable only to the house you live in now. You can easily file for the homestead by filling the form and getting it notified, if a company helps you in process they cannot charge more than 25 dollars.

Now people can together own assets. How is this possible?

Fractional owner ship lets a group of people consisting of 2 to 10 own assets together the all have rights to that asset. At time fractional ownership turns out to be time sharing, for true fractional ownership you got to go to the legal department.

Types of fractional ownership:

  • when people themselves decide to buy a property jointly, its most cost effective as builders are not able to charge extra for buying in group.
  • When the owner or developer leads this type of scheme he sells a fraction of asset to each buyer but the rate will be higher as if the fractions are unsold he suffers a loss.
  • the third scheme is a mixture of the above two this is called clubs in this case you jointly buy property but the benefits availed are like the fraction buy, but the club is not a legal term go for such a scheme you will have to search a bit more in depth.

It will cost you lesser than the amount if you had brought the property in whole, but do check the price and compare it to get the best deal possible.

How to maximize your money?

If you have in mind to maximize your money market account is the way, this investment if done properly will give huge benefits. But be clear about the fact that this differs from money market funds, knowing the difference is important. Money market basically stands for a market where bank, business men and others trade and a money market account is a kind of savings account that yields high interest. While on the other hand money market funds deal with stocks it’s not a premium savings account.

For opening such an account visit your nearest branch of your bank, what the bank does is it invests your money into certificate deposit’s or treasure deposits which are low risk investments, so you get high interest rates for letting the bank invest your money. But make sure your bank is Federal Deposit Insurance Corporation (FDIC) approved otherwise if your bank goes bankrupt you lose all your money. Also know all the account details like the minimum balance to be maintained and the amount that can be withdrawn is you don’t follow the guidelines penalties can be applied on you.