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I am not an attorney and I cannot give legal advice. Please seek professional legal advice from a competent professional.
I believe that an LLC located within a home being foreclosed upon would not be at risk other than needing to relocate. However, there may be more to consider that I am not aware of.
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∙ 15y ago
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Which are the five audit implications of business risk?
Client viabilty Inherent risk: Tone at the top Audit risk of specific assertions Analyticals Information systems
What is the high risk of finished goods inventory?
The high risk of finished goods inventory is the risk of loss of inventory due to theft, spoilage, or even fire. Storing finished goods is also expensive and if the market changes, can destroy a business.
In business what is the relationship between risk and profit?
The relationship between the two is that risk is needed to make a profit. A profit is money left over after expenses have been paid. To have expenses you need to take risks.
IRS Daily Living Allowances?
What are the daily living allowances for business travel during 2008, 2009, and 2010 to the following international locations: 1. Muscat, Oman 2. Doha, Qatar 3. Abu Dhabi, UAE 4. Dubai, UAE? What is the daily living allowance for business travel during 2008, 2009, and 2010 to Berkley, California and surrounding area? Thank you, Bob Roberts Roberts & Roberts Risk & Reliability Engineers San Diego, CA 92115
Example Of Unlimited Liability?
The definition of Unlimited Liability should give you a clue into what it refers to.The liability of the owner of a business for all the obligations of a business. An owner's personal assets (private home, etc) can be seized in order to pay any debts incurred by the business he owns. The placement of personal assets at risk is a great disadvantage of proprietorship and general partnerships. The ability to limit the amount of liability an owner is subject to is a major reason for the formation of corporations and limited partnerships.
Are bank accounts safe during a foreclosure?
As to the foreclosure of a property itself...(presuming they don't have rents/deposits or such received from the property), generally not involved. From any of the other financial issues your probably dealing with, that may even be allied to the property foreclosure.....at risk.
Can a room be rented in a house that is being foreclosed on?
Yes. The home still belongs to the owner until the foreclosure goes through and it is sold to someone else at a foreclosure sale. Of course the renter takes a risk on what might happen if a new owner takes over.
Examine the concept of business risk and uncertainties and explain various business risk?
business risk is the risk ,a business face ,again the achieving of its objectives ,it can be of many types , like currency risk, political risk , industry specific risk , also financial risk that can also be business risk
Will using home equity to pay off a large high interest rate student loan increase the risk of losing the home if payments are not made?
If you borrow against your home to pay off ANY type of debt and then do not make the payments, you can lose your home to foreclosure.
Alternatives to Foreclosure?
Foreclosure can really hurt your credit score and make it harder for you to get a loan for a car, another home or anything else you may need. The good news is that there are alternative to help keep you out of foreclosure and keep your home. One of the best options for those who are at immediate risk of default on their home loan is a mortgage modification. A modification can lower your monthly payment, stretch out the life of your loan and even reduce the balance owed on your mortgage to help make your monthly payments more affordable.
What bankruptcy can you file to keep your home if you are behind in payments?
If you are behind in your payments and you declare bankruptcy usually you can remain in your home and continue payments. However the lender will most likely begin foreclosure since you can't afford it and you are at higher risk.
What home equity release schemes does the Bank of America offer?
Currently the Bank of America doesn't offer home equity release schemes, but rather home equity loans. When taking out a home equity loan, one must be conscious about making the payments on time or risk a foreclosure on the home.
What of the features of business risk?
what is the features of variouse business risk
What are the pros and cons of borrowing on home equity to pay for auto repairs?
Pro: Interest on the home equity loan is deductible, if you itemize tax deductions. Con: It puts your home under a lien - essentially a second mortgage. If you have a financial crisis it may put your home at risk of foreclosure.
What does business risk mean?
business risk is when you take a risk when you dont know whether its right or wrong.
Financial risk of running a business?
financail risk of operating and opening a business
What is meant by business risk and why its important for the auditor to properly assess the risk?
Business risk means the amount of money and reputation that a business stands to lost. It is important for an auditor to assess the risk in order for the business to avoid heavy losses.
