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Understanding How to Keep Your Home in Los Angeles After Bankruptcy

When debts have become unmanageable, filing for bankruptcy protection may be the best option. It is an effective way for people to get back on their feet, because it offers a debt relief over a shorter time period than debt consolidation plans. It is often especially attractive to homeowners because eliminating other debt often frees up the funds necessary to keep the family home.

It is important for homeowners to understand how bankruptcy impacts home ownership. Some homeowners may not realize that a lender can foreclose on a home even after the owner has filed for bankruptcy.

Bankruptcy is an effective means of preventing foreclosure. Once bankruptcy is filed, an injunction known as the automatic stay goes into effect. The automatic stay bars all collection efforts from creditors, including repossession and foreclosure attempts as long as the sheriff’s sale has not taken place.

The automatic stay generally remains effective for the as long as the bankruptcy case lasts. In chapter 7 bankruptcies, this could be several months. With Chapter 13 bankruptcies, it could be a few years. There are some important caveats. With secured property, like a house or car, the person filing bankruptcy must continue to pay his/her mortgage while staying current on bankruptcy plan payments, if one exists, to maintain the automatic stay.

If a person fails to make payments on their mortgage, foreclosure after bankruptcy is still a possibility. The reason has to do with the underlying security agreement itself. Bankruptcy eliminates the duty to repay the money for a debt, but it does not remove the collateral agreement. Even though the obligation to pay the debts are discharged, the property itself is still secured by the mortgage or other security agreement. If a homeowner does not cure mortgage arrears in the bankruptcy and continue to make payments on their home, the mortgage company retains the right to take possession of a home and sell it is through foreclosure.

Types of foreclosure

When a person no longer wants their home there are two principal ways a mortgage company can take possession of a home — a deed in lieu of foreclosure or foreclosure. A deed in lieu of foreclosure requires that the homeowner sign the property over to the lending bank. While this may help a homeowner’s credit score by avoiding a full foreclosure, it also means giving up possession of the family home right away. Homeowners often opt for full foreclosure because it allows them to save up money while staying in their home throughout the foreclosure process.

A traditional foreclosure can take place in one of two ways. In a judicial foreclosure, the lender uses the court systems to obtain ownership of the property. In a non-judicial foreclosure, the home can be sold at an auction. Each state has different processes for how a lender can do a non-judicial foreclosure. Even if the homeowner has filed for bankruptcy, the lender must still follow one of these processes to obtain ownership of the home.

Dealing with foreclosure after bankruptcy

If you are considering filing bankruptcy or facing a foreclosure, it is important to seek legal advice. A knowledgeable Los Angeles bankruptcy lawyer will educate you on your options, making sure you understand how your choices could impact you so you. Once you are informed about the decisions available to you, you will feel confident about making the best choice for yourself as you prepare for a fresh start in the future.

Article provided by Simon & Resnik, LLP
Visit us at www.simonresnik.com

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Buying Telescopes Online Important Tips For Beginners

Telescopes and its accessories are as dynamic and varied as the dazzling night sky. No wonder, trying to find the perfect equipment can easily cause you to lose focus. This is even more difficult for beginners who are just getting prepared to have their first foray into the vast field of astronomy. Whether you have a passion of observing the sky or seeking astronomy professionally, it can be intimidating to buy telescope products that are just right for you. Discussed here are some fantastic tips for beginners, guiding you to buy the right kind of telescope to start with.

As technology has advanced rapidly, now you have the opportunity to buy excellent quality, high performance, and versatile telescopes online. There are several prominent online stores where you can get a vast selection of high quality, branded telescopes and accessories that are perfect for beginners and enthusiasts. You can also browse through a wide range of varieties by its type of optics such as Dobsonian, reflecting, Catadioptrics, and refracting, or by advanced features such as GPS, GoTo, or mounted. You can also get vast information and quality tips on how to buy the right telescope, set up, and start getting the most out of the new equipment.

When you buy online, consider some of the leading brands, offering excellent quality scopes with smart features and superior performance. Choose from hundreds of top-notch Celestron telescope, Zhumell, iOptron, Meade telescope, and much more to get the best value for the money. However, before you buy, determine your needs specifically. What do you want to look at most? How experienced are you? How dark is the sky in your region? How much you can spend? How much weight are you ready to carry? Considering what’s important to you will help in making the right choice in a hassle-free manner.

Consider the aperture of the scope, i.e. the diameter of the main optical component. The aperture determines the light gathering ability of the scope and its resolving power – i.e. how sharp the image will appear. This means that bigger the aperture, the better it is since it has more capacity to collect light, thus, making the galaxy appear brighter. Another important consideration here is how much does the scope magnifies. However, if you think that a super-high power telescope will provide you greater magnification, you would be wrong. The power of magnification is limited by the aperture and atmospheric conditions.

To ensure the best buy, a low power scope can guarantee better magnification to observe faint things such as nebulae and galaxies, while medium-high power is best for bright things such as planets and the moon. So, you would be wondering how much power of a scope is too much. The simple rule is – twice the telescope’s aperture in millimeters and 50 times the aperture in inches. Also consider different types of scopes available such as Dobsonian, reflecting, Catadioptrics, and refracting, and their capacity to buy telescope products that are perfect for you. For enhanced mobility, make sure that it is light in weight and comes with a mount, without which the scope is hardly of any use.

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10 killer tricks to win at roulette in casinos

Roulette is one of the oldest casino games around. While it may seem that it’s entirely based on chance, there are certain tricks you can use to minimize your losses. While you can’t be absolutely certain that you’ll make a profit from playing roulette, you can maximize your chances of winning.

1. Take a Few Practice Spins or Watch Others Play

Before taking your real turn, spin the wheel a few times. You can do this even if you’re playing at a casino. This will help you decide if there are biases, like the wheel ending on odd numbers more often than even numbers. If you can’t spin the wheel yourself at a casino, observe the workers who run the game and watch a few people play before taking your turn. It’s possible that a worker who’s been working the game for a while spins with a certain force that creates a bias.

2. Practice at a Free Table Before Placing a Bet

Some casinos have free roulette tables where you can play a few practice games. This will help you get confident about playing the game and you’ll make decisions about what does and doesn’t work. You’ll also have a chance to think about what you want to wager before actually putting up your money.

3. Opt for European Roulette

If you have the choice, choose European Roulette over American Roulette. American Roulette has an additional slot – 00 – than European Roulette, which decreases your odds of winning. The house has a 2.63% edge on a European Roulette wheel, while the American Roulette wheel has double the edge.

4. Be Extra Careful Online

If you’re playing roulette in an online casino, be extra careful. You could very easily give your money to a scam and there’s really no way to tell. Only play casino games on a reputable website. Check that their payout guidelines are published, too. Additionally, you also want to verify that the online casino uses a random number generator. There are so many untrustworthy sites out there and you could easily lose your money if you’re not careful.

5. Don’t Over-Bet

If you truly want to know how to win at roulette, you need to minimize your losses. The first way to do this is to not bet more than you’re willing to lose. This is especially important during your first few spins when you’re just learning the wheel bias. Control the temptation to bet more than you’ve decided to by steering clear of alcohol while playing. You may also want to consider giving your money to a trusted friend who will only give you certain amounts that you work out ahead of time.

6. Withdraw Your Profits

Whenever you make a profit, withdraw it. For example, let’s say you start out by betting $100 and you make $50. Now you have $150, which means you have a $50 profit. Withdraw the $50 and keep it separate from the rest of the money that you’re betting with. By regularly withdrawing your winnings, you’ll minimize your losses. If you win enough and you consistently withdraw your winnings, you could end up breaking even or even coming out with a profit.

7. Make Uncomplicated Bets

If you simply want to play for fun and not lose your money in the process, stick to the outside. That means only betting on one of three options: red or black, high or low, or odd or even. The return is low, but you have a smaller chance of losing your money, too. Two outside bets are also okay, like red and odd. Start out making uncomplicated bets until you get a handle of the game.

8. Use the Martingale Strategy

The Martingale Strategy is good to apply if you’re losing. For example, if you’re betting on black and you lose, every time you lose you should bet twice the amount as the first time, on the same color. Continue doing this until you win. For example, if you bet $1 on red and you lose, bet $2 on red the next time. If you lose that time, bet $4 on red. Continue doing this until the wheel lands on red, which is will eventually do. You’ll win back your losses and gain a profit in the meantime. This is easiest to do without betting all your money if you start off by betting the table minimum. Also keep in mind that some tables have a max you can bet, so at some point you may have to stop doubling your bet.

9. Try the James Bond Strategy

This is a good strategy to play with if you have some money to burn. For example, if you won $200 or more and you don’t mind taking a chance, use this strategy. The James Bond Strategy requires you to bet a total of $200. Put $140 of that $200 on the high numbers, which are numbers 19 through 36. Put $50 on numbers 13 through 18 and then put $10 on zero. By spreading out your bets, you increase the likelihood of winning. If you land on a number between 19 and 36, you’ll make a profit of $80. If you land on a number between 13 and 18, you’ll make a $100 profit. If you land on zero, you’ll make a $160 profit. The only way you’ll lose is if you land on a number between 1 and 12.

10. Make Your Bankroll Last

In order to make your money last, take the total amount that you brought with you and divide it by a minimum of 20. This is how much you should make your standard bet size. You may want to do this a few times throughout the day as the amount of money you have changes. However, if you’re always going to keep your profits set aside, your standard bet amount won’t change because it will always be based on what you initially started with.

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