Why a Buyer of Structured Settlement Annuity, Part II
- This was posted on August 24, 2009
In the last post I talked about my receipt of structured settlement payments for the last two years as a result of a work accident that took me from my job. In fact, having just returned to work in the last year I had counted on the money that was awarded to me – and paid out through a structured settlement – to live from month to month; without it I’m not sure what I would have done. Now that I was finally feeling better physically and was back to working at another job I began to reconsider buying a home – something that I had been considering prior to my accident. I was finally financially stable enough to make mortgage payments and it felt like a sign of moving on with my life. But I was unable to come up with a down payment that would allow me to have an acceptable mortgage payment – as well as be approved for a mortgage in the first place.
I decided to sell annuity payments – a way in which I could come up with a lump sum of money for a down payment. The way in which this works is to deal with a buyer of structured settlement annuity – a purchasing company that essentially buys the rights to receive future payments in exchange for their present day cash value. I sold a number of payments to them and in return they gave me the cash value for those payments – enough to have a respectable down payment on my first home.
I will say that finding a reputable buyer of structured settlement annuity payments is the most important component of selling annuity payments. Choose a reputable buyer with experience and will be guaranteed a smooth and ultimately successful transaction. I’m happy that I was able to find a buyer that worked for my needs and happier still to be moving into my new home.
Popularity: 23% [?]