The US Department of Housing and Urban Development has some good advice for people that are in danger of losing their home through foreclosure. Here are the last three tips from that list, with some discussion. Use your assets. “Do you have assets-a second car, jewelry, a whole life insurance policy-that you can sell for […]
Entries from May 2008
HUD tips for avoiding foreclosure: Part 3
May 24th, 2008 · 1 Comment
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Losing one home is bad enough
May 14th, 2008 · No Comments
How about losing nine homes to foreclosure? Ouch. It must be harsh to go from $800k in stock options to losing that, your home, your car, and your credit rating. And having a newborn on top of that. Shawn Forgaard went in full steam to real estate hot spots, financed them with a lot of […]
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“And on your right we have this beautiful three-bedroom…”
May 8th, 2008 · No Comments
Banks are hurting as foreclosures turn into non-performing and expensive real estate owned. Homeowners are hurting because they’re losing equity, or losing their homes and their credit rating. Neighbors are hurting because their property values are getting dinged, even though they’re paying their mortgage on time. Cities are hurting because vacant homes don’t usually attract […]
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Interview with Larry Winget on the foreclosure flood
May 5th, 2008 · 2 Comments
JLP of All Financial Matters had a six-question interview on the housing crisis with reality TV host, speaker, and author Larry Winget. Mr. Winget hosts the A&E show Big Spender and has written several books on personal finance, the latest of which is You’re Broke Because You Want to Be. Mr. Winget maintains that the […]
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Carnival participation for this past week
May 5th, 2008 · No Comments
Living After Foreclosure was featured in last week’s Carnival of Personal Finance, which was held over at Lazy Man and Money. The article submitted discussed how we now have to worry about our neighbor’s finances now that foreclosures are getting more common, because a sinking tide lowers all ships. Thanks Lazy Man for including my […]
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Conseco was foreclosed on
May 2nd, 2008 · 1 Comment
There will be more celebrities losing their homes. I’m sure of it. Jose Conseco lost his 7,300 square-foot home yesterday, owing about $2.5 million on it. The home currently on his plate is smaller. It’s all a matter of cash flow: trying to support more house than you can easily afford. If a person’s income […]
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