What really happens in the event of bankruptcy, etc.?

Later they person finds they are in a new relationship, they hold a good job, they save money but then events in the past hold back their credit.2.

Most I have seen use a fee agreement with the NCND on the commercial side.The fee agreement has a disclaimer that they are not a securities dealer,financial planner,mortgage broker,etc.It simply states they are a business consultant and xx number of points will be paid from the closing to be put onto the loan.Basically a fee for bringing two parties together on the commercial side to do a transaction.This can be for energy,gold mine and other deals as well.The key is full disclosure.Residential is highly regulated unlike commercial.On the commercial side everyone is trying to slam in deals before the government wants to "regulate something" and stick it's nose where it doesn't belong.On the residential side you have the Georgia Residential Mortgage Lending Act which ALSO states you are NOT allowed to counsel people with loan modifications etc. unless you are licensed.So as said the feds have rules and the states have rules and you have to make sure both are covered.

Life is truly weird sometimes, cards get dealt, and you gotta play the hand you are dealt.I'm a big fan of Robert Kiyosaki's "Rich Dad" books, and within' the philosophy, Robert teaches that there are 4 quarters to the "game of life".Age 25-35: 1st quarterAge 35-45: 2nd quarterAge 45-55: 3rd quarterAge 55-65: 4th quarterAge 65+: OvertimeAge 70: out of time...The goal of the this "game" (in order to win) your passive income is greater than your expenses - putting you what Robert calls "out of the rat race".If you think about it - many great sporting events are won in the last quarter - and given that you are still in YOUR FIRST quarter, it may give you some solace and encouragement to realize that you still have time to completely rebuild and succeed!

I am currently a financial planner and just getting into real estate investing.

When I was a financial planner I worked with several people who donated stocks and real estate through the use of a charitable remainder trust (CRT).

“A general release does not extend to claims which the creditor does not know or suspect to exist in his favor at the time of executing the release which if known by him must have materially affected his settlement with the debtor.”They also sign this.DEFAULT BY BUYER: In the event Buyer should fail to consummate the transaction contemplated herein for any reason, except default by Seller or the failure of Seller to satisfy any of the conditions to Buyer's obligations, as set forth herein, Seller shall be entitled to retain the earnest money deposit, such sum being agreed upon as liquidated damages for the failure of Buyer to perform the duties and obligations imposed upon it by the terms and provisions of this Agreement and because of the difficulty, inconvenience and uncertainty of ascertaining actual damages, and no other damages, rights or remedies shall in any case be collectible, enforceable or available to Seller other than as provided in this Section, and Seller agrees to accept and take said deposit as Seller's total damages and relief hereunder in such event.

I often use a day planner to document the travel and meetings during the day.

From the standpoint of the sub prime borrower, the plan is a non-event.

There is a roof garden on the second floor behind the apartment...I have a landscape designer to build and maintain that for readings and events!