What are the consequences of market closure?
The consequences of the market closure are serious, including the loss of home, tax and credit problems of the person and the tenant's action. For many people, the most immediate consequence of the closure of a home is necessary to try to find a new place to live. In many places, the closure of the home can adversely affect the credit of the former house owner, which for many years can cause significant financial difficulties after closing. Even worse, the former owner of the house may have to cope with paying taxes from the forgiven amount of debt. Landlords who lose their home or building for the closure of the market may also have to deal with angry tenants who sue them for the damage that they have to move before the rent. In addition to the trauma of the loss of their home, one of the most unfavorable consequences of the closure of the house owners market is that they can have great difficulty finding a new Pkrajka. This is because the closure of closure may appear on credit and background checks, which can cause some of themThe landlords are nervous about renting a former house owner. The former owner of the house may have to pay a significant security deposit before the landlord agrees to rent. Because many people lose their homes because of financial problems, many of these former homeowners simply do not have the cash needed to pay for security deposits and first month rent.
Security seizures are a matter of public record and can be included in consumer loan reports, logs on the background and tenants screening. In addition to creating difficulties for individuals who need to rent new housing, credit consequences of market closure can make it difficult for someone to get new credit and increase its credit limits. or to ensure favorable interest rates. In fact, one of the lesser -known consequences of the market closure is that some creditors will raise interest rates for debts owed by existing customers, if the creditor identifies the market closure in the security report.
Other possible market closure consequences include tax debt and compensation for tenants who lose their home as a result of the closure of its landlord market. In some places, any debt may be abolished by closing the market by taxation and the former owner of the house may be responsible for paying a large tax account. If the house owner had tenants and tenants are forced to find new housing during their rental, he may be able to sue his landlord for breach of the contract. In such cases, the costs of defense of court proceedings or the payment of court proceedings will only add to the financial problems of the former house owner.