GMAC Mortgage

Do you have a mortgage with GMAC Mortgage?  Did you know its owner, Residential Capital, filed a Chapter 11 bankruptcy?  What does that mean for you? If you are current on your mortgage and have no issues with GMAC Mortgage, its bankruptcy probably won’t affect you.  GMAC Mortgage is conducting

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Laura Day’s Top Ten List – Number 2: Credibility

There are some things we see over and over that are really not in your best interest.  Here’s why: #2.       Credibility and lack thereof As a mother, I constantly preach to my children to always “do what you say you are going to do.”  Since they are young adults now, I think they

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Laura Day’s Top Ten List – Number 3: Operational Improvements

  There are some things we see over and over that are really not in your best interest.  Here’s why: #3.       Remember the Board Game “Operation?” I played Operation all the time, and remember the commercial jingle well, can hear it in my head right now.  The challenge of pulling out every little

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Laura Day’s Top Ten List – Number 4: Personal or Business?

There are some things we see over and over that are really not in your best interest.  Here’s why: #4.       Commingling Personal and Business I can’t tell you the number of businesses we see where the individual principals have used their personal credit cards for corporate expenses.  This is not a good idea

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Laura Day’s Top Ten List – Number 5: Cash Flow

There are some things we see over and over that are really not in your best interest.  Here’s why: #5.       You Think  that Cash is Not Your King Large businesses, small businesses, individuals.  One thing remains the same:  cash flow.  The majority of our clients do not have a thorough and accurate grasp

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Laura Day’s Top Ten List – Number 6: Valuation

There are some things we see over and over that are really not in your best interest.  Here’s why: #6.       Value/Schmalue All estimates of value are really opinions—opinions of the owner, opinions of the lender, and expert opinions of appraisers based on recognized appraisal methods.  At the beginning of the “economic crisis” in

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Laura Day’s Top Ten List – Number 8: “Friends and Family” Plans

There are some things we see over and over that are really not in your best interest.  Here’s why: #8.        The “Friends and Family” Plan Although the telephone advertising of the “Friends and Family” plan is enticing, it should not be used for creditors.  Either borrowing outright from friends and family

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