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Besides a lot of things wrong the banks are doing very little to help homeowners avoid California foreclosure. 

They were given millions or even billions of dollars to help stem the tide of foreclosures that were recognized from the very beginning. Money they used to pay their executives extravagant bonuses. 

They were given directives from the US Government to modify loans to help people save their homes. While they did make a half-hearted effort their programs were never really set up of for success. They never bothered to staff up enough to handle the sheer volume of requests. This is cause for endless delays and lost documentation which pushes most homes to mature into the final phases foreclosure before the homeowner is given a final answer. 

What happens next, the homeowner is denied a loan mod–which in many cases they never qualified for in the first place but the bank failed to inform them of this in a timely manner–and now they are left with little or no time to pursue another option.

Homeowners facing California foreclosure who are thinking about or in the midst of a loan modification should research bankruptcy as a back up plan. Sh

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The National Foundation for Credit Counseling reported results from its annual survey of consumer financial literacy recently, and the findings suggest that, as a nation, we’re still not as well equipped to deal with financial stumbling blocks as we need to be.

Specifically, the survey revealed the following about American consumers:

• 26 percent of survey respondents reported spending more than they did last year, a percentage higher than it has been for two years. While this could be good for the nation’s economic recovery, it’s only one part of the puzzle.
• More than 40 percent of respondents graded themselves as earning a C or lower in their personal finance know-how. This is alarming but not surprising: in more official tests of financial literacy (often given to high school students), it’s often common for the majority of students to fail.
• While more than two-thirds of Americans reported paying for most purchases with cash or debit cards, 40 percent still reportedly carry revolving debt on their credit cards from month to month. This so

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In the current economic environment you will find that California was hit extra hard by the home foreclosure crisis. Many people are suffering and have lost their homes because of it. Some reasons California was hit so hard could have very well been avoided.

1. Banks were lending to unqualified borrowers 2. Too many builders were over building and dumping properties onto investors 3. Real estate agents were artificially inflating home prices in new subdivision through phase releases 4. Home owners had no financial reserve for a rainy day 5. Homeowners borrowed money on variable rate loans 

Had homeowners, banks, builders and real estate agents avoided these five mistakes California’s home foreclosure crises probably would have been simply a hick-up instead of a crisis. Citizens should have been looking out for each other and not relying on the government for over site. Knowing the banks, builders and real estate agents are in it for the money, we as consumers need to pay close attention to what they are telling us and insure we are not falling into a trap.

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For anyone who is shopping for a used car, you need to put your best foot forward, and your best effort into the effort. When the seller is more relaxed with talking to you, you may find that they will open up to you about the real condition of the car and possibly what it is truly worth. Then you can definitely determine a selling price to buy it at.

Do not go around flashing cash or a checkbook when in the market for a pre-owned car. It really is a very easy way to result in paying much more for the used automobile than the dump is actually valued at. And you make sure you arent going to that place carrying cash either. You totally have to keep the cash and the checkbook concealed until all the negotiating is performed.

You do not want a used car that has been in an car accident before. Most likely, no one actually does, except that the cash in hand may not allow them to try for something different. The seller might not supply you with that information just for the sake of it, but if you ask them point blank they won’t lie. So question them.

You might not have a lot of money, but you are no fool. W

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These days, many Americans are desperate to stay on top of mortgage payments, and are considering unorthodox ways to pay the bills. apparently, when a company called Adzookie offered to pay people’s mortgages for up to a year if those people would display large advertisements on their homes, applications flooded in by the thousands, as a recent report from Credit.com details.

The deal reportedly works like this: if you apply and are accepted into the program, Adzookie will paint advertisements on your home and pay your mortgage for three months (with a chance to renew for another nine if the ads remain in place).

While that may sound like heaven to some struggling homeowners, only a handful of people will be selected for this deal. So what can the rest of us do?

Finding Affordable Housing

Because of the tight standards of many refinancing programs, few homeowners are able to qualify. So that might mean a few things, one of which could be giving up a mortgage (whether with the help of personal bankruptcy or not) and renting for a while.

So how can you find affordable rent? B

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One of the nation’s largest cattle brokerages, Eastern Livestock of New Albany, Indiana, abruptly collapsed in November 2010 and has filed for Chapter 11 bankruptcy protection; company principal owner Thomas P. Gibson has also filed for Chapter 7 personal bankruptcy. Affiliate company East-West Trucking has also filed a Chapter 7 bankruptcy petition. Gibson lists interests in some 17 companies in his bankruptcy filing.According to Clarissa Kell-Holland in an article on www.landline.mag.com (The Business Magazine for Professional Truckers), Eastern Livestock and East-West Trucking allegedly sent more than $130 million in worthless checks to over 740 cattle sellers and truckers who haul the bovines. In the article, Eastern Livestock bankruptcy trustee James Knauer states that investigators had traced “phony sales which were used to prop up the cash flow” back to 2008, although not on the “same scale as in later years.” In 2010, the company reported inflated sales of $3.9 billion, triple the number it listed in sales in 2009. According to court documents, Eastern Livestock’s bank, the Fifth Third Bank of Cincinnati, averred that the cattle brokerage’s finances started unraveling on November 1, 2010. During the same Read more…

Try as we might, therell be occasions when we might really run right out of obligatory cash and the paycheck is weeks away. This situation many people can still handle by simply scrimping and saving making the most of whats left yet what can complicate this already financially dire situation is when payments that we have not been making arrangements for all of a sudden confront us.

Immediate auto repairs that cannot really wait till the next pay day, medical emergencies, tutoring charges, a Mastercard bill that actually should be settled or the amount will quadruple because of the astonishing late payments penalties and other charges those things can really cripple us monetarily. It is a good thing there arent any credit check pay day loans.

Loans that dont need credit verification are the kinds of loans being facilitated by online lending corporations which offer no credit check pay day loans. So even though you have a not so commendable credit report, you dont need to worry when making an application for these no credit check pay day loans because your credit report isnt a part of the few requirements in this kind of loan.

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Student Loan Debt

What You Don’t Know Can Hurt You

Learn interesting student loan debt facts that aren’t as apparent as a student would hope. Did you know the difference in private versus public education for college equals $15,000 per year on average. For students, that’s a lot of cash that could be spent on other essentials (like food). Don’t wait until you are filing bankruptcy to find out the facts. Find out more trivia to share with your friends between classes in the infographic below.

President Obama’s home foreclosure program, Making Home Affordable, is a program that provides a number of government-subsidized options for homeowners who are struggling. The goal is for these homeowners to avoid home foreclosure, which helps get the American economy back on track.

There are four different programs available to homeowners under the Making Home Affordable program.

The Home Affordable Modification Program (HAMP) allows homeowners to modify the terms of their existing mortgage to make it more affordable.

For homeowners who have a second mortgage, and have already modified their first with HAMP, the Second Lien Modification Program (2MP) provides the opportunity to modify that second mortgage, so that both payments are more affordable.

The Home Affordable Refinance Program (HARP) is for homeowners who have loans that are owned or guaranteed by Fannie Mae or Freddie Mac. Homeowners can refinance these loans into more affordable payments.

Finally, the Home Affordable Foreclosure Alternatives Program (HAFAP) is designed for those homeowners who cannot afford their home any longer but are trying to avoid foreclosure.

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