best-secured-loans

Some underlying potential problems connected with secured loans.


Some underlying potential problems connected with secured loans If you have made a secured loan or you are just thinking about it, read about some potential problems that can appear during the payment period. One shouldn’t forget that the lenders (secured) are quite strict and in case your payments are not regular and even if you have no opportunity to make regular payments your house may be seized.

So, this is the first problem you may face. Actually foreclosure one of the most unpleasant and the most risky sight of making secured loans. In case your car, yacht are confiscated, this procedure is called repossession. As a matter of fact these procedures may be caused by falling behind on the payments. The banks are not interested in foreclosure and repossession, because they draw attention to these banks and to their work. Hardly any bank will like this regulatory attention. So, as you see, foreclosure and repossession create problems not for the borrowers only, but for the lenders. If you want to solve the problem, just contact the bank and inform them that it’s problematic and difficult for you to make repayments regularly.

If you have taken out a mortgage (a large sum to purchase a new house), the bank may excuse your nonpayment for a little. But when you recommence your regular payments, you may be asked to pay extra money. It’s a kind of a fine to liquidate the past-due sum.

One more problem is connected with refinancing. You may get refinancing loans to make regular repayments. In the result you’ll have to pay a large sum (much larger) for a longer period. Sure, the best variant for you is not to make a refinancing loan at all, but if you are nailed, buy the precious time not to lose the house. Refinancing is good to solve your temporary problems (JUST temporary, but not permanent!) with making regular repayments.

The worst things happen when it’s impossible to avoid foreclosure. In some cases you can make an agreement with a lender to put off the terms of foreclosure or to get additional period of time to make repayments. But in many cases you’ll have to sell your house to pay off. Any way, it’s much better to sell the house than to lose it because of the foreclosure. You should also know that you won’t lose your house at once. In many cases it means that you’ll have some time to make payments. The terms of reinstatement can be discussed and negotiated. Actually, it depends on the bank (the lender), the cost of your house and your payment capabilities.

But even here you may have some problems with selling a house! If the payback (after selling your house) doesn’t cover the debt, the lenders will be more open to letting you get a reinstatement program. It will help you to make needed repayments. But if the cost and the value of your house are much higher, you may really lose your house faster without getting a reinstatement program at all.

Sure, to avoid problems with making secured loans explore all the underlying potential problems connected with them. Check out all the details of the agreement with a highly qualified lawyer to be prepared for all eventualities. It will do you a lot of good.


   

The world's most expensive wedding dress

                                                                                                                                               Made of ostrich feathers more natural ostrich feather of 2009, work on it eight Mtrzyn worlds for a period of forty days
Price and a half million dollars

10 Most Expensive Paintings in the World

10. $78,100,000. Pierre-August Renoir – Le Moulin de la Galette. At the time of its sale in 1990, it was the second most expensive painting ever sold. This masterpiece even went to the same person that bought number one at the time, Daishowa Paper Manufacturing Co. chairman Ryoei Saito. Again, he wanted this one cremated with him as well, but his companies ran into problems with  and debt so it had to be sold on as collateral.

9. $80,000,000. Jasper Johns – False Start. Another painting formerly owned by Geffen and allegedly sold to CEO of the Citadel Group, Kenneth C. Griffin, making it the most expensive painting to be sold by a living artist, the iconic Jasper Johns.

8. $82,500,000. Vincent van Gogh – Portrait of Dr. Gachet. Up for auction in 1990 and purchased by Japanese businessman Ryoei Saito, this was – at the time- the most expensive painting in the world. Saito (then 75) caused controversy at the time, stating that when he died, he’d have the painting cremated along with him. This was later cleared up as he claimed that he was only using the expression to show his intense affection for it.

7. $86,300,000. Francis Bacon – Triptych, 1976. Breaking the previous sale record of his work ($52.68 million), Bacon’s 3-piece masterpiece was sold to Russian billionaire Roman Abramovich, smashing the previous estimate of $70 million.

 $87,900,000. Gustav Klimt – Portrait of Adele Bloch-Bauer II. The only model to be painted twice by Klimt and sold a few months after the first version, this portrait of Bloch-Bauer was part of a lot in 2006 of four Klimt paintings that went on to fetch a total of $192 million. Buyer unknown. other paintings by Gustav Klimt

 $95,200,000. Pablo Picasso – Dora Maar au Chat. Another Picasso, the second highest price ever fetched at auction, and another anonymous buyer. Auctioned in 2006, a mysterious Russian bidder took this home (along with a Monet and a Chagall, spending over $100 million) and no one has since found out who he was. The ownership of the painting has still not been made public.

 $104,200,000. Pablo Picasso – Garçon à la pipe. So far the highest price a painting has ever fetched at auction (as the others were all sold privately), and was the first painting to break the $100 million barrier (it was sold in 2004, whilst 1-3 were all in 2006). The strange thing is that it was never made public as to who expressed such an interest in Picasso’s portrait of a smoking Parisian.

$135,000,000. Gustav Klimt – Portrait of Adele Bloch-Bauer I. This was sold by Maria Altmann, who – after a lengthy and complicated court battle – was deemed rightful owner of this Klimt and several others. Altmann was named as an inheritor of the painting in the will of by the widowed husband of the model herself, despite the efforts of the Austrian State, as Adele Bloch-Bauer had originally left the painting to the State Gallery in her own will. The painting was bought by Ronald Lauder for his NeueGalerie in New York, to be the centerpiece of a collection of Jewish-owned art rescued from the Nazi looting that took place in the Second World War.

 $137,500,000. Willem de Kooning – Woman III. Another painting sold by Geffen in 2006, but this time bought by billionaire Steven A. Cohen. It is part of a series of 6 painted by de Kooning in the period of 1951-53, which revolved around the theme of a woman, and is allegedly the only Woman still in private hands.

  $140,000,000. Jackson Pollock – No.5, 1948. It is claimed by the New York Times that this painting was sold by David Geffen (of Geffen Records), to David Martinez (managing partner of Fintech Advisory). However, a press release issued on behalf of Martinez states that he didn’t actually purchase the painting. So the truth is shrouded in mystery, and it can only be rumored to have sold for a record-breaking $140 million. Although by looking at it, it’s not something