A short sale is when a lender agrees to a person or entity selling property at fair market value even if the outstanding mortgage against the property is more than that value. In such a case, the lender generally forgives the balance due on the loan after the sale occurs, and the borrower is not required to pay off the remaining balance (though this isn’t always true).

Continue Reading

Many small business owners do not necessarily think about their financial liability when they first start their company—they tend to focus more on market research, securing funding and building up the infrastructure of their new business. However, it is important to understand the financial risks you face as the owner of a new company.

If

Considering changing the structure of your business? There are a number of scenarios in which it might be sensible or beneficial to do so. Changing the structure could afford you more growth potential, or limit liability you would face in certain circumstances.

If you have decided you wish to change your business’s structure, you might

In U.S. contract law, a contract is considered “irreparably broken” after a “material” breach of contract—a breach that is so severe that essentially destroys the basis of the contract and goes to the root of the agreement between the contract’s parties. If a material breach occurs, the non-breaching party can end the agreement and attempt

It has been weeks since Hurricane Maria swept through the U.S. Virgin Islands, causing catastrophic damage to the Territory’s buildings and infrastructure. However, the Territory still finds itself in great need of federal assistance.

In mid-October, a group of Democratic lawmakers sought tax relief for both Puerto Rico and the U.S. Virgin Islands, which were

While much attention has been paid to the losses of homeowners and business owners after Hurricanes Irma and Maria hit the U.S. Virgin Islands (and rightfully so), there are thousands of renters who have suffered considerable losses, as well. There are many ways for property owners to seek various forms of financial assistance, but what