Almost a decade after the housing crisis of 2007-2008, banks are still using strict credit requirements to approve potential home buyers for a mortgage. Many home buyers explored other purchasing options with a Chicago real estate lawyer, including lease-option and lease-purchase agreements. Lease-Option A lease-option is the most flexible of the two alternative purchase arrangements. The potential buyer agrees to make monthly lease payments that are slightly higher than the going market … [Read more...]
Archives for July 2016
Hard Money Loans: The Last Resort For Business Financing
Posted on July 25, 2016 //
Businesses and developers sometimes run into problems with finding much-needed capital, but hard money loans should be the last option that they consider. There are several reasons that hard money loans should be the financing source of last resort. These loans should not be used for anything other than short-term needs, and developers and business owners should pay them off as quickly as possible. A business transaction lawyer might assist clients with identifying better funding sources other … [Read more...]
The Commercial Lease: What You Should Know
Posted on July 20, 2016 //
Commercial leases differ from residential leases in ways that may impact business operations. A commercial attorney who is familiar with complex language and commercial lease terms can explain important differences. Commercial leases and residential leases are written differently, and those differences can impact business operations and success. Here are some important distinctions: Commercial leases have fewer consumer protection laws. Laws don't require caps on security deposits or rules … [Read more...]
Millenials inherit wealth at faster rate than previous generations
Posted on July 7, 2016 //
Millennials are set to inherit more wealth than any previous generation and, contrary to popular misconceptions, they are also the most likely to use it well. About a third of Americans under the age 32 with $1 million of available assets to invest inherited their money. That contrasts with less than a quarter of Baby Boomers and Gen X’ers. At first, this may seem worrisome after all Millennials are the generation that grew up with an “everyone gets a trophy attitude” and who don’t understand … [Read more...]
