“You Know You’re Caught When…” - Self Assessment
Being caught in financial distress is a hard realization and sometimes people don't even recognize the warning signs. Let's face it - the topic of finances is still the #1 source of stress and relationship discord. This self assessment quiz isn't a solution, just a tool to help you take control of your financial situation and seek help if needed. Don't be caught unaware, take control today! You know you're caught when... you have any of the following obvious signs: Job loss Loss/decrease in income Rate adjustment on your mortgage Already more than 30 days late paying your mortgage Negative amortization (your payments don't include paying ...
I’m Caught, Now What?
So, you've realized you 're caught in the housing bubble. You're probably thinking, "Now what do I do?" If you're caught in the housing bubble because you lost your job or have experienced a significant decrease in pay (maybe a paycut or forced un-paid vacation), please read the following post: "I Just Lost My Job, Now What?" I have a special set of instructions for you! Otherwise, read on. Step #1 - Create or update your monthly budget If you haven't done this already, you must. A financial worksheet is going to be your tool to help you determine where you ...
The Ins and Outs of the Short Sale Process
I have to admit - the content of this post is a little dry and wordy, but there is a lot of great information in here for people wanting to know how short sales work. So, grab a cup of coffee and read on! What is a short sale? A short sale is a process that allows homeowners to sell their home for less than what they owe on it through a negotiated settlement. The settlement requires the lender(s) to agree to accept a short payoff for the secured mortgage(s). In order to qualify, the homeowner usually needs to demonstrate a hardship ...
Featured Posts
First Look: Inside the $75 Billion Plan to Save Housing
A look at the number of trial loan modifications that have succeeded since the government launched its program...
Top Five Resources for Upside Down Homeowners
Upside down in your home and facing difficult financial times? Take control of your situation today and exhaust...
I Lost My Job, Now What?
You thought you were secure and prepared to dig in and ride out the economic downturn. Then, the unthinkable happens;...
Read More Posts From This Category
