Category: Americans in Debt
Christmas Tuesday ’09
“Elizabeth gave a glad cry and exclaimed to Mary, ‘God has blessed you above all women, and your child is blessed. Why am I so honored, that the mother of my Lord should visit me? … You are blessed because you believed that the Lord would do what He said.’” Luke 1:42-45 (NLT)
Who Are We to Trust?
I think in these times, the anniversary of 9/11, with all the lying going on in Congress about spending all of our money we don’t have and such, I thought this really hits home:
The politicians keep saying, "trust me, trust me". Most of the time you know darn well they’re lying. Well who are we to trust? There’s only One:
"Trust in Him at all times, O people; Pour out your heart before Him; God is a refuge for us." Psalm 62:8 (NAS)
George
Who Loves Us, Each and Every One of Us?
Are not five sparrows sold for two pennies? Yet not one of them is forgotten by God. Indeed, the very hairs of your head are all numbered. Don’t be afraid; you are worth more than many sparrows.
Luke 12:6-7
New International Version
We don’t have to be afraid; God knows each one of us personally. We are known and loved by the One who is and was and is to come!
George
Another Sub-Prime Mortgage Crisis
With the Sub-Prime Mortgage Crisis in full swing, we are about to get hit with another crisis. By 2010, millions of ALT-A, Option ARMS and Interest-Only mortgages will be re-casting to a higher rate. Many homeowners weren’t and still aren’t prepared for this new crisis. They were expecting to re-finance to keep their payments affordable. With home values going into the basement, there simply isn’t enough equity to re-finance. Many people won’t be able to afford the new higher mortgage payments and are in the bulls eye to lose their home by no fault of their own.
What if I have one of these loans and don’t want to lose my home?
If you’re one of the people who is going to lose your home, you’ll have step up to the plate and start taking responsibility for your financial life.
- You can try to sell your home, but with lower values that may not be a possibility.
- You can try a “short sale”, whereby the bank buys the house at the new lower value. But that may or may not work and you still have to move.
- One way to help yourself is by doing a “Loan Modification”. That’s a process whereby your Lender may:
- Lower your interest rate
- Extend the length of the loan
- Reduce principle owed
- Or any combination of the three
In fact, a Mortgage Loan Modification may be the best way to keep your home and preserve your credit.
How can I get a Lender to give me a Mortgage Loan Modification?
There are several ways you can get a Loan Modification. You can:
- Do it yourself
- The problem is that most lenders, if you actually get to the right department, won’t give you the option that’s best for you
- Ask the Government to help you
- With this option, you may get the modification, but the government gets part or all of any equity in your home for many years.
- Call a Mortgage Loan Modification professional
- A lot of people are doing “Loan Mods” out of their basement. You need an attorney to help you do it the right way. Many states have laws against loan mods not done by an attorney.
The bottom line
Don’t wait – take responsibility, do something now – the sooner the better.
Here’s a good program to look at. They use attorneys to negotiate with the Lender and have a track record of 90-95% success ratio. Full money back guarantee if they’re unsuccessful. In addition, they use the Money Merge Account system by United First Financial, to keep you on track to not only keep your home, but to pay it off is as little as 1/3 to 1/2 the time of your new mortgage! Check it out - Mortgage Loan Modification
George
Problems with Debt
Problems
There are three problems with the lives most of us lead.
- Americans are loaded with debt – all kinds of debt; credit card debt, car loans, school loans. You name it and we “own” it. We are buried in debt. Many list money and credit card debt as one of the top reasons for divorce, and has been so for many years. We try to pay down debt, but two things get in the way:
- We use the bank’s methods to pay down debt.
- Life happens
- People are not saving enough for retirement. Even if they are saving for retirement, most people won’t have enough money to retire on and they may outlive their money.
- Debtors have two options; pay your debt or don’t pay your debt, facing possible bankruptcy and/or foreclosure.
Solution
We need to do three things:
1. Take responsibility
2. Take your life back
3. Take your country back
Take responsibility
Many people believe money doesn’t matter when they’re young. Money does matter!! At any age!
We have to get a handle on spending. Start acting now to avoid disaster later. If you’re married, start managing money as a couple. Sometimes it’s hard to face your feelings alone without a partner. As a married couple you must sit down and discuss things like a budget, where you want to end up financially in your life together. Set some short, mid-range and long-term goals. Many couples will disagree on what monies need to be saved and spent. But that’s all part of making your finances a family affair.
Get rid of all debt as quickly as possible.
Take your life back
An excellent way to pay off all your debts is to get some help. Call an Independent Agent from United First Financial and get a free Analysis run to see if you qualify for their Money Merge Account™ system. The Money Merge Account system, if you follow the program prompts, will show you the quickest way to zero debt, by showing the way to coordinate cash flow. It gets money working for us instead of against us, using strategic payoff strategies based on your situation. It doesn’t allow money to sit on the table for the bank to use.
Discuss investment strategies. Consult a financial planner or consultant. Many times they offer free consultations.
Whatever you do, don’t wait to act. The sooner that you recognize that there is a problem developing, the less costly it will be financially. Make getting out of debt a family priority
Eliminating debts gives you options you might not have
Take your country back
By learning how to manage our own debt, we can require the same of our politicians. We need to take the lead – they certainly aren’t.
So, to Take responsibility, Take your life back, Take your country back.
Contact Equity Benefits at bedebtfree@equitybenefits.net
Why are Americans in So Much Debt?
Take back your Life
As a society, Americans need to get out of and keep out of debt. If we do that, we could possibly have financial options, such as retirement and college fund options for you and your children that you don’t have now. Now that’s taking back your life!
But how do people get into so much debt? Let’s look at some of the major ways people get such debt.
Education
The average American has debt coming out of college – a lot of debt – tens of thousands of dollars of debt. Mostly in deferred school loans and credit cards.
The American Dream – Your Own Home.
Most people think of buying a home. They soon realize though, that they will be paying over twice the original rice of their house. And that’s if they secure a fixed mortgage. Other mortgages might cost them even more. But everyone really wants a house and the only way we’re going to get one is by saving for a down payment and getting that mortgage.
So that debt is OK. It’s what some consider “good” debt.
We need a ride.
But not just any ride. We get an SUV or a pickup – a sexy, really good-looking SUV. One for each spouse. If the kids are here already, maybe a mini-van and/or an SUV. All financed of course.
We have kids
Kids and everything they do costs a lot of money. By acquiring credit cards and paying the minimum payment, we can help our kids have the life they really deserve.
Anything else
By this time, money doesn’t matter. We’re really living the dream by now and don’t want to upset the apple cart.
Our County is in Debt
We certainly don’t have much guidance from our country and politicians. Our country is (depending upon where and when you check), seven to ten Trillion dollars in debt. A good portion of that is owed to foreign nations. We are part of the problem.
Get out of debt personally and we can demand our politicians be accountable with our money. Because the Government only gets money from our taxes and efforts.
Take back your life, instead of living paycheck to paycheck or under the bondage of debt.
