Foreclosure strikes fear in the hearts of millions. The thought that your home may be ripped out from under your feet by a greedy bank for failure to make payments is enough to send some to Zucotti Park. But before you grab a sleeping bag and an Occupy Wall Street banner, consider the truth. If…
You can’t modify your home loan unless you are behind in your payments! Mortgage companies and banks will work with you to modify your loan. They all respond with forms to fill out and lists of paperwork to start the process once you call. Some will even send a solicitation to you when you don’t…
Rounding up our posts this week at Money Health Central, Cathy asks “Why is it that those drowning in debt don’t reach for a life preserver? What prevents them from making changes that will get them out of deep water? Chances are they’ve bought in to one or more of the money myths that keep…
Our hearts, and a big chunk of our pocketbooks, are tied up in the family home, even if we’re single. This week we dug into home ownership, the underwater house, and tax policy and federal fix-it schemes affect home owners. Your house is not necessarily your home, and your home isn’t contained in your house….
Your house is not necessarily your home, and your home isn’t contained in your house. Separate the two ideas for a more meaningful decision about your future. Home evokes warm and fuzzy feelings about family, security, belonging and community. To suggest that a homeowner walk away from his home produces gasps of horror and protests…
Is it better to own your home or rent it? This age-old debate has no perfect answer. I read a article some 25 years ago by an economist (I forget the name or the title of the article) that made the argument it was far better to rent a place to live than to own…
Ok, it happens. You got behind in the mortgage. Then they add on late charges, more interest, and, sometimes additional fees “for processing.” So, now, what was once a minor problem has grown into a more significant issue: you could lose your home! What to do: 1. Call the mortgage company. Sure, they won’t always…