By definition, a short sale is granting the homeowner permission to sell their property for less than what they owe the bank. As a result, the bank automatically loses money on it. Banks Look To Recover the Most They Can “If the bank ends up getting the same or less than they would have with a short sale, they will suffer a big loss,” said Mark Bello, an attorney in West Bloomfield, Mich....

Some ​agents excel at either selling or listing, and they promote themselves accordingly. It’s not out of the question for an agent to specialize only in listing homes for sale; others might work strictly with homebuyers. Most real estate agents handle about an equal number of buyers and sellers. This means using the same professional in both roles is possible. What Does a Good Listing (Seller’s) Agent Do? A good listing agent tweaks the fine nuances that separate homes and neighborhoods from their identical counterparts....

“We experienced a lot of discrimination, and not so much outright, not people saying homophobic things straight to our face, but more so just acting very weird around us, being uncomfortable,” Fulmore said in an Instagram Live with The Balance’s editor-in-chief, Kristin Myers. “We were pretty positive we got turned down for multiple places because of the fact that it was two girls instead of a heterosexual couple.” Discrimination within the real estate industry can make finding a place to live and owning a home more difficult for people who identify as LGBTQ+....

But after a bit of coaxing about the importance of getting her bank accounts, insurance, and other assets together to plan for retirement or in the event of an unforeseen accident, she finally relented. It was then that her son discovered she had run up more than $80,000 in credit card debt and was being chased by multiple debt collectors. “That was a bit of a shock for him,” said Chan, a partner at Locker Financial Services, who kept his client’s name confidential out of privacy concerns....

The 18,000 affected borrowers will officially receive word from the Education Department (ED) in the coming weeks that their loan balances will be erased completely, the department said in a statement Wednesday. The students qualify for loan forgiveness under an ED provision called borrower defense, which allows for borrowers who have been misled by their school to receive partial or full relief from their student loans. ITT Tech misrepresented how much the students could expect to earn and the jobs they could get after attending the school, as well as how easy it would be to transfer credits earned at ITT to other institutions, according to the department....

President Joe Biden unveiled the framework for a $1.75 trillion economic and climate change plan on Thursday, but it did not include any mention of legislation that would require banks and financial institutions to report the total yearly amounts of inflows and outflows of accounts that meet a certain dollar threshold amount. The earliest proposal was to require the additional reporting if accounts had at least $600 worth of transactions each year, but that was met with stiff resistance....

Taking a career test is a little like playing “What do you want to be when you grow up?” but with a twist. The twist is that career tests don’t just give you a chance to dream about what you want to do; they can give you concrete ideas about what you may be best suited to do. They can help you understand the type of environment and work that will help you thrive as a person....

Find out how to calculate a gearing ratio, what it’s used for, and its limitations. What Is a Gearing Ratio? A gearing ratio is a measurement of a company’s financial leverage, or the amount of business funding that comes from borrowed methods (lenders) versus company owners (shareholders). Well-known gearing ratios include debt-to-equity, debt-to-capital and debt-service ratios. Lenders may use gearing ratios to decide whether or not to extend credit, and investors may use them to determine whether or not to invest in a business....

“The impact of the Delta variant on growth and inflation is proving to be somewhat larger than we expected,” David Mericle, Goldman Sachs economist, wrote in a research report. On the spending side, the investment bank predicts that consumers—who fueled a reopened economy earlier this year with savings built up while they sheltered in place last year—will modestly pull back on dining, travel and other services in August. Production also is expected to suffer from ongoing supply-chain disruptions, particularly in the auto industry, as Asia-Pacific countries reimpose COVID-19-related restrictions....

In recent years, several laws have given states more power to collect these internet sales taxes. This article will discuss recent laws relating to internet sales, what the current laws mean for online sellers, and how to get help when you need it. South Dakota v. Wayfair Inc. In June 2018, the Supreme Court published a decision in the case of South Dakota v. Wayfair, Inc. (Wayfair) that changed the way states regulate internet sales taxes....

HELOCs can be useful for many different purposes, but it’s important you understand the pros and cons of a HELOC before you commit. Pros and Cons of HELOCs Pros Explained Low interest rates: Because they’re secured by the value of your home, HELOCs tend to have much lower interest rates than other kinds of loans, often making it an affordable borrowing option. Get money when you need it: Unlike other loans that offer a one-time payout, you can withdraw funds from a HELOC multiple times as the need arises, so long as you’re within the draw period....

More than 20 million people lost their jobs in the first two months of the pandemic, but some groups shouldered the burden more than others, according to a new analysis of Census and Bureau of Labor Statistics data by researchers at the Federal Reserve Bank of New York. Young people, low-wage workers, Black and Hispanic people, and women are among those who experienced outsized job losses last spring. Between February and April 2020, the number of employed women dropped by 18%....

Current prices at the pump are actually down from a 2021 peak of $3.04—set last week—but still much higher than what we’ve been paying for most of the pandemic. The average gallon will cost you 17 cents more than it did last month, and $1.08 more than it did last Memorial Day. The culprit? Increased interest in travel this year, combined with knock-on effects from the recent shutdown of the Colonial Pipeline....

Home Construction Industry Outlook Generally speaking, the returns on housing construction stocks are usually tied to the health of the housing industry. For example, when interest rates on home loans and mortgages are low or falling, the demand for new or renovated homes often stays steady or even rises. Another example is the low-interest rates on mortgages in the United States through the first half of 2021. This, combined with low unemployment rates, has helped support a healthy housing market in which consumers and investors are buying homes, renovating existing ones, and purchasing home furnishings and appliances to put in them....

What Are Credit Card Miles? Credit card miles are a type of loyalty benefit that certain credit cards give to customers as a reward for their credit card spending. The more you spend on your credit card, the more miles you accumulate. For example, a credit card might reward you with one mile for every $1 you spend on your credit card. The credit card issuer and airline partner define a value for each credit card mile, like a penny per mile, for example....

If your bank takes the extra payment and applies it to interest first, you can work around this by paying your extra payments at the same time that you make your monthly payment. This way the money will go towards the principal. If you have the option of making a principal-only payment, make sure that you check the box on the payment slip and then double check to make sure they are being applied directly to your loan....

Fortunately, there are several consumer protection laws in place to help prevent discrimination against people based on their gender identity or sexual orientation. Here’s a closer look at how they work and what LGBTQ homebuyers can do if they believe they’ve been the target of discrimination. “There are incredibly high levels of housing insecurity experienced by LGBTQ people,” Karen Loewy, senior counsel and seniors strategist for Lambda Legal, told The Balance by phone....

LLC Operating Agreement An LLC operating agreement can be written with any number of provisions. For example, the operating agreement could forbid individual family members from selling their shares of the limited liability company without the permission of the other members. This not only forces them to remain invested in the LLC but allows everyone else to not worry about suddenly finding out there is a stranger who has a say in their business....

The Timeline The timeline for lifting a credit freeze—sometimes known as a “security freeze”—depends on how you request it. According to the Federal Trade Commission, the three major credit bureaus are required to lift a freeze within one hour if the request is made online or by phone. If you mail your request, they are required to lift the freeze within three business days of receiving your request. (Mail is the required method if you are requesting a credit freeze for a minor child....

Checks Written to You Unless you have a government-issued check or certified check, it’s wise to deposit checks within six months. After that, you may want to ask for a reissued check. Doing so prevents confusion at the bank and lets the check writer know that you’re ready to collect your money. Checks You Write Again, six months is a good rule of thumb. If somebody fails to deposit or cash a check you wrote, they may have difficulty negotiating the check after six months....