A Buyer of Structured Settlement Annuity; a Homeowner’s Friend
- This was posted on February 26, 2009
Foreclosures these days have, unfortunately, become more of the norm than ever before. Record breaking numbers of homeowners are having to forfeit their homes to the bank; they are simply unable to continue to make mortgage payments and courts are hosting foreclosure after foreclosure in a surreal and frightening testament to the economy.
Experts are unsure – and are afraid to guess – when the housing crisis (and the economic crisis as a whole) will begin to improve. But we have to know, as a nation, that every pendulum that swings one way must eventually come back the other way. In other words, it may seem like there is not much on the horizon in terms of hope but things will eventually change and improve; it’s only a matter of time. The question remains, however, if any of us have that time to wait, especially when it comes to keeping our homes.
Those who receive structured settlement payments as a result of money awarded to them through a court case are accustomed to receiving an equal amount of money on a particular schedule. No one is going to scoff at any extra money coming into their household right now; in fact many recipients have undoubtedly come to very much rely on that extra money, especially at the present time.
But when it comes to saving their home, homeowners often need a lump sum of money; an amount that will get them caught up and satisfy the bank, allowing them to hang on until times get better. People are making tough decisions right now, taking pension loans and borrowing in unconventional ways (the traditional lending market being relatively stagnant at present). And one such decision is that to sell annuity payments to a buyer of structured settlement annuity.
A buyer of structured settlement annuity will give sellers money for the number of upcoming payments they wish to sell. The buyer then becomes the rightful owner of those payments and the seller is given the sum total of all of those payments, allowing them to have the cash they need to save their home.
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