http://bucket.wistia.com/medias/9d2ncdzsuc?embedType=async&videoFoam=true&videoWidth=640 When a lender releases an existing mortgage for a payoff that is less or 'short' of the total amount due, the transaction is called a 'short sale.' Lenders sometimes...

http://bucket.wistia.com/medias/4audsiur59?embedType=async&videoFoam=true&videoWidth=640 A foreclosure is essentially a legally-forced change in possession, where a lender seizes collateralized property - such as a home - when a borrower is unable to pay the...

http://bucket.wistia.com/medias/hueof0f18f?embedType=async&videoFoam=true&videoWidth=640 What is a power of attorney and how does it work? To keep a board game running while one player takes a break, that player could say to another 'roll the dice and move for...

http://bucket.wistia.com/medias/jkzwm0yem0?embedType=async&videoFoam=true&videoWidth=640 A will is a written document that defines how your assets will be distributed after you die. Trusts are legal arrangements that involve a separate legal entity to hold and...

http://bucket.wistia.com/medias/45yusgd8le?embedType=async&videoFoam=true&videoWidth=640 Filing for bankruptcy starts with disclosing all financial information. This is done on a form called a 'bankruptcy petition', provided by the US Bankruptcy Court. The...

http://bucket.wistia.com/medias/f0ww3imfbb?embedType=async&videoFoam=true&videoWidth=640 US law allows courts to declare individuals and businesses bankrupt, allowing them to settle debts without full payment. Filing bankruptcy is a legal action asking the...

http://bucket.wistia.com/medias/p2kvhy7j15?embedType=async&videoFoam=true&videoWidth=640 When a couple marries, they gain the legal right to do certain things together, such as own property or owe debts. Divorce is the legal termination of marriage; the legal...

http://bucket.wistia.com/medias/cqjsxp35pm?embedType=async&videoFoam=true&videoWidth=640 When the legal state of marriage is ended by divorce, legal commitments by the couple - property, debts and more - must be resolved. While laws vary by state, the divorce...

http://bucket.wistia.com/medias/466d090xjv?embedType=async&videoFoam=true&videoWidth=640 If a marriage with children is legally ended by divorce, access, time and legal responsibility for the children - 'custody' - must be decided. Custody arrangements include...