When someone you love ends up in jail, you may get the call to bail them out until their court date. It's up to you whether you bail them out or not -- but you should make sure that the decision you make is based on real information, rather than myths. The following are three myths about bail and bail bonds, which are important to get past if you are in the position of needing to bail someone out.
Being informed about your rights when it concerns bail is important for everyone to understand, as you may never know when you might find yourself either rightly or wrongly arrested.
Myth: You Can Only Pay For The Bonding Fees And Collateral With Cash
Using a bail bonding service will be the most effective option for many people that are needing to come up with a bail payment. However, individuals may assume that they will have to pay with cash to be able to use these services.
If you have recently been let out of jail due to a friend or family member getting a bail bond, you will certainly be enjoying your temporary freedom before you must go back to court and face the charges you have been accused of. However, you may be tempted to violate the terms of your bail and not show up to court, which is known as jumping bail. There are many consequences to jumping bail that you should be aware of so that you do not do it.
A reverse mortgage is a way that you can take out and borrow money against the value of your home, while still living in your home, without having to make mortgage payments. A reverse mortgage is paid off through the sale of your home when you are deceased if you don't choose to sell your home and settle the mortgage before that occurs. Regardless, a reverse mortgage is a financial decision that you should really understand the full implications of before you agree to one.
Many people have grown their wealth through investing in real estate-- historically, real estate has been an asset that appreciates in value year after year. If you're interested in investing in real estate, you can opt to purchase residential property, but savvy investors know that the real money is in investing in commercial real estate. Commercial real estate typically costs more than residential real estate, but the pay offs can be much bigger.