Foreclosure Recap – Week #35
If you are like countless Americans in the world today you have credit card debt that is possibly choking you. The obvious solution has always been when the credit cards get high you just roll them into the mortgage with a debt consolidation loan. That was the way things were done and the way that was accepted. This article takes a look at whether the solution of consolidating the debt is the best option for you.
It absolutely had to happen. Everyone has heard of the “Dummy’s” series of books. You know ”Computers for Dummy’s”, Tax Preparation for Dummy’s”, etc. Well now with the market being flooded with options and people looking to do loan modifications and other things we have the newest entry into the book of “Dummy’s” books. “Loan Modification for Dummy’s” The book that promises to teach you everything that you need to know about what options are out.
If you are having trouble getting out of financial issues and are thinking about selling your home as a for sale by owner, keep in mind that putting a sign at the corner can be a good way to get business. Though if you read this article you might want to do some more research before you actually push the sign into the dirt. The St. Petersburg Florida area has an ordinance, as do many cities, about this type of thing and the city of St. Petersburg is enforcing the regulations. The fines can run from $125 to $00 per sign. If you are considering this option you really owe it to check out this information and then do a little investigation before you put it up. It might just save you some heartache and money.
With the market where it is, many people with a little extra cash are considering buying property, fixing it up and then reselling it for a profit. This is known in the real estate market as flipping the home. You might think that with the prices of some homes being at the historic lows that they are now that there is no way in the world that you can get hurt and lose in this situation. If you are even mildly entertaining this idea please take a few moments and look over the article at the following web address. It gives you the truth about the market and the difficulty that you might encounter trying to turn the property from a flop to a flip and what pitfalls you might encounter and how to avoid them.
This is a joke, really! But if you know anything about Wal-Mart, you realize that it is not all that far fetched or too far removed from the truth. So since I think everyone needs a little comic relief from time to time, this is one that you absolutely have to take a couple moments and read.
Everyone seems to think that the loan modification programs that are out there now are going to be the answer to the problem and that if you apply you will have all of the issues solved and then things will be better for you. In a perfect world this is the way that it should work and in a perfect world that is the way that it would work. Unfortunately, these programs are set to help people that are late or delinquent for the most part. People that are not having a recorded issue with being late are actually being turned down and many have ended up losing their homes. This is good news if you are already having trouble making the payments but not so good if you are getting things done the right way and actually pay the mortgage as the primary bill each month.
For those of us that are looking to restructure our loans and to try and take advantage of some of the options that the feds have given us in the various mortgage programs this article should prove interesting. Some of the new plans allow you to not pay more than 31% of your income and provides for interest rates as low as 2%. SO if you have been interested in finding out about the nuts and bolts information and would like to see if perhaps you qualify to get in on some of these savings you need to go and read this article. It is full of information and web links to go to and check and see if you qualify for them.
The headline on the story is enough to get you to stop by and read it. “Foreclosure Purchase Keeps Tomatoes Alive” it reads in bold letters. While it might not be the most helpful story to someone that is about to lose a property to foreclosure proceedings it is certainly an article that shows how community involvement can make a difference in the blight and plight of the American neighborhoods that are smitten with the ugly scars of foreclosure that have in some areas of the country taken whole areas of towns and relinquished them to the unsightly stain of boarded up windows and vacant overgrown yards.
If you are one of the people out there that is looking down the barrel of the foreclosure gun then you need to read this article. Most of us know that these kinds of things can affect your credit. This article shows you the many ways that it can have an adverse affect on the rest of your life. How long and how hard that impact is can be determined by a number of factors that are all outlined and gone over here in this very well written and informative article. Even if you are not having issues with payments today it might be worth reading so that you have the knowledge in the back of your mind as you travel down the road to you future since you never know what is lurking around the next bend.
The Long Island Press brings us a story about a movie called American Casino, which basically is a film about the issues on Wall Street and how it has affected the mortgage and real estate industry among other areas of our life. The story gives a nice overview about the film and it might just make you want to go give it a view as well.
