Union President Lana Payne on Tuesday picked Ford as Unifor’s target automaker — three weeks after hinting she was leaning toward focusing on the company that employs about 5,500 union members in Canada to lead off this year’s contract talks.
Banks, like any other business, can close or go bankrupt. And while it doesn’t happen often, when it does it can send shock waves throughout the financial world. Case in point: the banking crisis over the weekend of March 10, when the failure of first Silicon Valley Bank and then Signature Bank led to sharp drops in the stock market and in mortgage rates.
It’s natural to wonder what happens to you and your loan if your mortgage company goes bankrupt. The fallout will vary depending on exactly where you were in the mortgage process.
What does a mortgage company collapse mean for your personal financial world? You might be wondering if that gives you a get-out-of-jail free card. Unfortunately, the answer is no. You will still have to make payments on your loan.
Generally, if your loan had already closed before the bankruptcy occurred and you’ve received the funds, your loan shouldn’t be affected at all. Typically, as part of the bankruptcy process, another institution will take over the debt. The good news is that any repayments you already made won’t get “lost” or wiped off the books. All of the information about your mortgage history will be transferred to the new financial institution or loan servicer.
By Dalia Ramirez | NerdWallet
Prenuptial or premarital agreements, often called “prenups,” have a reputation for being a tool the ultra-wealthy use to protect their assets. But as marriages have evolved, so have prenups — and they might have more uses than you think.
Prenups can give couples an opportunity to communicate about their finances and establish a clear framework for the division of property and responsibilities in case of separation, divorce or even the distribution of one partner’s estate.
True, it’s not very romantic to prepare for the worst while you’re in a state of premarital bliss. However, marriage is one of the most significant contracts you can enter, and legal proceedings such as divorce and probate can be so costly and time-consuming that a prenup may be better to have and not need than to need and not have.
Prenups can ensure that you, your partner and even your children are in the best possible financial position no matter what happens. Here’s how to know if you need one, could benefit from one or may want to consider a different option.
The proposed IRS rules for construction of clean energy production and manufacturing facilities build on initial guidance last year in the Inflation Reduction Act, which has enabled the announcement of more than $110 billion worth of clean energy manufacturing investments.
The supplier founded by Tesla board member JB Straubel in February received a conditional commitment for a $2 billion U.S. loan to build a $3.5-billion recycling and re-manufacturing complex in Nevada.