Starting a new business can be a great way to leverage existing skills and knowledge about an industry into a long-term source of income, while gaining more control over your career. If you’ve been thinking about forming a start-up or small business, think about this: a down economy can actually be a good environment for a fledgling enterprise.
One reason that some small businesses do well in a down economy is that competition – for customers or employees – can be less intense. And a less-crowded field offers a new business an opportunity to get more visibility in a local market, for those who can get the funding that they need. One way to get that funding is to sell some or all of your structured settlement. (more…)
Selling a structured settlement can be a great way to generate money to purchase a home.
And while some buyers in today’s real estate market are still wary of putting a lot of money into a home purchase for fear prices might still be moving downward, there are compelling reasons to buy a house now. Mortgage payments still build equity. And despite a down economy, paying off a home over time is a major way for families to save for the future.
Another big reason to buy now: Residential mortgage rates are historically low. A mortgage at just 3%-5% interest can build more equity sooner, and experts warn that it’s only a matter of time before interest rates for home loans climb back to the higher rates of previous decades.
However, it’s almost always necessary to put significant money into a property at closing. When you are looking for a down payment on a mortgage, selling all or part of a structured settlement can help you to get the lump sum you need.
You can choose the amount to sell or “take out” of your structured settlement but keep in mind that surrender costs and other charges can take a bite out of the lump sum you receive when you sell a structured settlement. Since there are many companies willing to pay cash for a structured settlement, it’s important to shop around to get the best offers from structured settlement buyers.
As a structured settlement buyer experienced in helping clients “cash out” to aid in a property purchase, CBC understands your needs. Our financial professionals will work with you to deal with the costs, paperwork, and legal issues involved in an annuity sale so that you are ready on settlement day.
Let us help you complete the structured settlement process so you can write that check for a first home, investment property, or any other real estate purchase.
You may be receiving payments from a structured settlement if you have won a personal injury lawsuit and received a sizable settlement, or if you settled out of court for a large sum of money.
So what is a structured settlement? A structured settlement is an arrangement whereby a successful plaintiff in a personal injury cases receives the settlements proceeds in installments over a period of time. A structured settlement pays out a tax-free, guaranteed income stream to the recipient over the term of the settlement. The payments can be structured in various ways, including yearly payments, monthly payments, deferred payments, or an initial lump payment with monthly payments thereafter. (more…)
Various factors influence the length of time it takes for you to receive a settlement lump sum from the buyer of your structured settlement. These include state laws and court system schedules as well as the time you need to review the documentation and the decision to go forward with the sale.
That being said, it typically takes between 30 and 45 days to receive a cash payout from a structured settlement buyer. However, it may take up to two months depending upon the circumstances. (more…)
People who benefit from a structured settlement often receive cash as the result of a successful personal injury claim. The money is usually awarded in increments over time, called annuity payments.
While having a steady stream of income from annuity payments has its upside, there are many legitimate reasons why you might choose to sell a structured settlement. You may need a lump sum of cash now in order to cover college costs, to buy a new home, or to pay down debt.
The good news is that it is possible to sell structured settlements. Doing so requires a court appearance by the seller (depending on the state) and the structured settlement buyer (the party willing to buy the annuities), along with a judge’s approval of the transaction. (more…)