How to administer your money - Help is here!
Hello friends, a few weeks ago I posted an article asking you to write tips about how to be able to see some money on my bank account instead of the usual zero balance. As no one contributed - I even think no one eve read it :) - I decided to create a carnival about it and we did pretty well with that.
So, let’s call this our first edition of the “How to administer your money Carnival”. I hope it’s helpful for you as it was for me.
Raymond presents Review Of E*Trade Bank High Interest Savings and Checking Accounts posted at Money Blue Book .
Raymond presents New Credit Card Rules posted at Money Blue Book .
Lauren Rose presents Secrets of Keeping to the Family Budget posted at No Debt Anymore .org , saying, “Making your money work for you is the ultimate goal of any budget. Financial problems usually arise due to lack of proper budgeting skills, or failure to keep to the proposed budget.”
Mr Credit Card presents Consumerists Ten Commandments On Credit posted at Ask Mr Credit Card.
Connie Brooks presents What To Do If Your Identity Is Stolen posted at The Credit Beacon .
Ryan Suenaga presents Reallocation Time posted at Uncommon Cents .
KCLau presents Redefine Retirement: Lifestyle Design of the New Rich posted at KCLau’s Money Tips , saying, “About retirement, mini-retirement versus deferred retirement, income relativity and how to earn the income you want in the shortest time”
David presents Making Wise Decisions posted at Personal Finance Ology , saying, “Making wise decisions is crucial to ensuring long term financial stability. Learn how to make good financial decisions and build your wealth.”
Praveen presents Still Following My Investment System With No Tensions posted at My Simple Trading System.
Chris presents Household survival tips - how to make (and save) more money posted at Home I Own.
Sam presents NEW !! Free Home Foreclosure Help.. posted at Surfer Sam and Friends, saying, “New !! Free Home Foreclosure Help
You Have Options and Rights
When you purchased your home in happier times, you borrowed money to make home ownership possible. You signed a mortgage or a deed of trust, that gave the lender the right to foreclose on your house if you fail to make the monthly payments. Now you find that you are not able to make the monthly repayments of the borrowed money. The threat of foreclosure doesn’t necessarily mean that you are going to lose your home. If you are facing foreclosure, you have options to use and legal rights to protect you.
Help with Home Foreclosure
As a homeowner who faces foreclosure, here’s what can you do.
1. If you face home foreclosure, negotiate. If you want to keep your house, contact your lender right away. Your best strategy is to negotiate a workout with the lender. Contact the lender as soon as you know you cannot make the monthly payment. Explain the circumstance you face, whether it is a lost job, prolonged illness or other hardship. Outline your plan to make up missed payments at the end of your mortgage, or over a specified period of time. Then decide when you will be able to resume making regular mortgage payments. You can negotiate with the bank for temporary relief from making your monthly payments. You can also ask for a reduction in your loan balance.
Your bank or mortgage lender doesn’t really want to foreclose on you at this time. Consider the point of view of a bank. Iit doesn’t want to repossess your property and take ownership of it. Because of falling real estate prices, the bank expects that the selling price of your home will be less than the balance owed on the mortgage. Thus the bank faces a loss if it foreclosures on the mortgage. Also, the bank does not want to manage and maintain the real estate, and offer it for sale at a later date. The uncertainty of the real estate market makes the bank willing to work with you to keep you in the home.
2. For free help with a home foreclosure, consult a free housing counselor.”
That concludes this edition. Submit your blog article to the next edition of How to administer your money Carnival using our carnival submission form.
Past posts and future hosts can be found on our blog carnival index page.
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how to administer your money carnival, blog carnival.
Enjoy!
Hi. I am a long time reader. I wanted to say that I like your blog and the layout.
Peter Quinn
Just wanted to say HI. I found your blog a few days ago on Technorati and have been reading it over the past few days.
Unfortunately some families not only cannot save any money but one week before the month is over are scartching for pennies and dimes to make it through.
One way to help is generate some extra money on the side. For example, if your home is in desirable locations, such as on the water, in resort towns, or near city attractions, considering short term rentals can indeed bring you some extra cash to pay your own mortgage, taxes, etc.
Some travelers prefer to stay in hotels, but manay families or big groups prefer to rent a house, villa, chateau or condo. The cost of a five star hotel may be more expensive than renting an entire home and which offers the most precious commodity a hotel cannot offer: PRIVACY.
Considering setting your home for short term rentals can bring an extra income that you might be able to save and some extra to help you pay for taxes, your own mortgage, etc.
That’s a great idea!
) and I end up spending lots of money in clothes and stuff like that. Right now I’m investing in a franchise to be able to start saving something and I’m thinking on improving my financial administration skills. I’ll let you know how it goes.
In my case I have some freelance jobs that allow me to earn good money besides my salary. I haven’t been able to keep some money in my account yet because I’m a guy that loves going shopping (I’m not gay by the way, just love to look ok