Finding Financial Freedom is a Blog dedicated to help individuals and families who are looking for financial Independence. We like to guide all our readers in responsible debt solutions through services, and becoming financially secure through self-employment. We also offer solutions to everyday needs and support while going through this process helping you secure your future.
I always say falling into debt is not always your fault. Sure some of make mistakes in managing our finances and we are all not financial experts, bankers, or accountants. Things happen in our lives that can be unexpected but what is expected is your financial obligation once you take one or them on is resolved in one way or another you are responsible for them. With computers and modern tracking techniques you may not always pay them but they will be tracking your every move until the debt is resolved. There is no getting around it.
You will see me repost something at least quarterly about Credit Counseling. I think it is important before you spend any money to contact a reputable credit counseling agency. Yes we have other ways of solving debt on the sidebar but what you need to know you cannot solve your debt problems blindly. By consulting an expert you are educating yourself on the other options out there. If your mind is made up go with one of those products but what I am saying is first contact a Credit Counseling Agency before making the big decision. Credit Counseling will help you set up a budget, advise you on where to go to get help If you need it bankruptcy not likely but maybe debt settlement, or get you into a credit counseling program where you can save up to fifty percent on your unsecured debt and credit card interest charges with a small monthly fee for processing. This is usually a large one lump monthly payment. The best part is the counseling is for free. Free Financial advice it’s free. I can’t say anything else but to stop the nagging debt problem or to tell you where you can go for help and it’s free. It does not get any better than free. Keep on having your creditors sucking your money and your life having your life sucked out of you or getting help that is free. I knew my choice thirteen years ago and it was free then and the counseling end of the service is still free. No gimmicks no nothing, Free!
After your counseling as a consumer you can use any products and services you want. This is your right as a consumer. And there are other quality services out there we are going to suggest from time to time, but it’s refreshing to know there is help out there when you are strapped and need it. So here are the two services I recommend and they are both well accredited credit counseling services you can start with over the phone or online. The one I joined is Consumer Credit Counseling. There is a national website and then for those of you who live in central to South New Jersey, Northern Delaware, and Southeastern Pennsylvania there is the Consumer Credit Counseling Service of Delaware Valley, the service I joined thirteen years ago. And there is another service called Credit Guard Services of America. I have reviewed their website after reading about them in a national magazine. So when you get done laughing I found this article in the Women’s World October 10, 2011 Issue, one of my wife’s favorite magazines. I will give you the Web-addresses to CCCS of Delaware Valley as well as the national site for Consumer Credit Counseling. And, finally I will give you the web address to Credit Guard Credit Counseling, So don’t put up with the agony of debt any longer because credit counseling is the best place to start, hands down!
Working Toward a Simpler Blog
As we said with the last post we are working to a simpler blog format. This transformation is going to take a little time to move certain formats that make blog posts to long are going to be moved to permanent pages for reference for our readers. These pages will constantly evolve like good blogs and websites do. This will make for a more interesting easier to write and read blog without a lot of duplicate information week after week. So to all our regular readers we will be getting back into routine soon.
The new page that has been added this post or entry is Building an Internet Presence.Blogging is one of the quickest ways to get on the internet and build your own presence. This is why we started with blogging as our first page. For those of you that would like to get started with your part-time home business or resurrect an old one can get started with these methods. Again these methods take time to work for you but this is good targeted marketing to help you get leads at little or no cost to you. Remember when these processes start working for you they will deliver steady results as with your constant effort in advertising.
Learn More About Building an Internet Presence by Clicking Here!
Go To Consumer Credit Counseling of Delaware Valley by Clicking Here!
Go to Consumer Credit Counseling National Website by Clicking Here!
Go to Credit Guard Services of America by Clicking Here!
This week we are going to divert from our normal format to introduce you to the stand alone pages in this blog. The standalone pages we will be introducing you to over the next two months or so are going to be reference points you can return to. These pages will help you financially as well as helping you with productivity in your life and with any route you want to take in your career or self-employment.
In reading these pages please remember that these are suggestions. We here at Finding Financial Freedom are here to refer you to the best services out there we can associate ourselves with. Any opportunities are here for you to research and we will help you, coach you in any way we can but as for specific financial advice if you need it, please refer to some of the services we refer you to or find professional services through other resources you find on your own. This is your Financial Recovery and Wellbeing Toolbox so please take advantage of it, In our June 12, 2011 blog post Getting Set with a Budget we give you some of our suggestions to professional help some come for free though Consumer Credit it Counseling with more services on the sidebar we became associated with since the June 21, 2011.
In the opportunity pages (coming in the near future) we will list all the opportunities we have had you preview to date as well as tell you where you can go for free to low cost training to get your businesses up and running. We also added two Opportunities that have excellent training on the side bar that you can start today and make money quickly if you just follow the instructions. Again, at no cost to you to start your business or part-time job. As far as the of startup businesses that we exposed you to in the past, most of them are no cost to low cost startups to help you learn and get Direct and Affiliate marketing skills without worrying about the high startup costs that scare most people away from learning how to market. We will be offering low cost and free ways for you to train as you start your marketing business or part-time job which are also opportunities for you to make money just by referring the training that is working for you to your team members and others.
Marketing is the way of the future in this new turn around and troubled economy. The families and individuals that will do the best financially in the future will operate a small business of some sort or another even if they work their business part-time. Remember unless you are a seasoned marketer; Don’t Give up Your Day Job!!! Even if you do not do marketing as your business you still have to market any venture you pursue so any marketing you learn through us will be beneficial to you. Stay secure but if you want to work part-time for extra income build a small business for yourself so you have something call your own, something to fall back on if you need to and where no one can fire you or lay you off. Wal-Mart has enough Greeters, Stock People and Cashiers so leave that job for someone who needs a job to get back on their feet.Who knows, you could be teaching them how to market on your team one day!
In getting started I believe we covered enough for now on e-mail marketing. Those entries will be compiled into a page for a one page reference in the future so you will not have to go back to all those blog posts to reference them.
What we will start you off on is building an online presence for free by understanding blogs and blogging. This way you can begin to impress the people on your e-mail list to date and let them know you are a serious marketer or business person with your own blog and online presence. Just relax, define your niche, have fun, be yourself, keep in mind blogging like anything else takes some to learn, put your best stuff out there and build your online presence by being a blogger starting today!
For Understanding this and Other Interactive Blogs go to the Pages Widget on the sidebar or ClickHere!
To go to the June 21, 2011 blog post getting Set with a Budget Click Here!
October 4,
2012 Update to this Blog Post
Since we posted
this on October 2, 2011 we moved the Opportunity programs to Creative Marketing
Helper. This is a way to simplify this blog and keep its dedication to help
those in financial distress. Even in good times directing and helping people
learn and practice good financial habits is imperative to the health and
welfare of the individual as well as a strong family life while establishing
personal respect.
We strongly
encourage you as the Finding Financial Freedom Blog reader to look over
Creative Marketing Helper. As the content grows in both blogs we hope you will
grow along with us by becoming self-employed part time and find there is a more
secure future in building a Home Based Business more so in these hard times.
Last fall I made change that I wish I had made years ago. Back in June I had started hinting to you as our readers about Credit Unions. Credit Unions are one of the most misunderstood financial institutions that have in recent years come out of secrecy. Everyone was under the belief that you had to be an employee of a large corporation, federal employees, a union member of a specific union, some other special interest group or fraternity. This is not true anymore. Some of today’s requirements are as easy as living in a county, community, being a member of a religious institution, or a community member of commerce to qualify you as a member of a credit union. When looking into credit unions they will tell you what you need to qualify as a member usually by calling them and asking or the requirements are listed on their website.
Making The Difference In Your Financial Interests
I really can put the blame the banking industry for a large portion of my financial struggles. I did not realize that banking could be done as it was in the past where the banks actually looked after the customer until I found out how Credit Unions were taking care of their customers. I am not going to name specific banks but since the banking crash a system dedicated and dominated by to the wealthy has gotten far tighter with credit qualifications and fees for general banking stifling any financial growth from the middle class. They must believe since they are not making interest dollars because of their own poor lending habits they can make it up in general banking fees and credit card interest and fees. I had credit cards with one institution that went from less than nineteen percent annually to twenty-six to twenty-nine percent annually and I while I was carrying a substantial amount of debt on those cards. Yes, it is me the good payer that should bear the brunt of their incompetent banking decisions. Somehow out of the blue I had to come up with another two hundred dollars a month to pay them. I did nothing to provoke it and I had at the time a mid-seven-hundreds credit score. This bank had the audacity to use our federal tax dollars to bail them out of their poor lending practices and wanted to make up for its profit losses on me and others like me.
For us the dwindling middle class it is time to say no to these Intuitions and the way they treat the people that have regular incomes. Actually I am not sure the large banks really want our business any way but as long as we let them get away with it they will. On the sidebar we offer lending solutions to people paying unfair rates on things from car loans to mortgages and help in solving other debt problems. I also do want all our readers to know we will never advertise Payday of Title Loans which in my opinion are predatory loans and offer no permanent solution to someone or a family struggling financially. Title Loans and Payday Loans are financial suicide to the financially strapped and venerable who use them and I promise sometime soon I will have a blog post berating and condemning such practices. These institutions could make me canonize commercial banking into Sainthood and you already know how I feel about some large commercial banks. Enough of that for now I feel a rant coming on!
Last fall I joined Trumark Federal Credit Union.Since the time I have joined Trumark I have replaced most of my high interest debt with lower interest debt without the struggle or the hard Inquiries to my credit report. Hard Inquires go on your credit report and can lower your credit score which as a regular practice by large banks especially in the last three years. Other financial institutions do not always use hard inquiries if you have a good credit score. You will understand more about hard inquiries if you have credit monitoring because when there is a hard inquiry your credit monitoring service will send you notice. Anyway, because of my financial reorganization that Trumark FCU helped me with now every time I make a payment, my payments are now making true headway toward the principal (the money owed) instead of making faceless heartless institutions and their stockholders wealthier. This can be the most important article or post you will read this year. This is really worth doing the research on and making the move to a better financial future.Even if your credit is not good enough at this point to get a loan the way a credit union treats you with personal service and low banking fees with fairer banking practices can start making the difference for you immediately. A Credit Union will help you in your effort to financial recovery easier and when one day you start qualifying for loan or better rates again. Just remember you will be already established with a Credit Union who is willing to help you with advice and education. The best part is, I like working with people with warm blood running through their veins instead or finding some angle to profit from you. You can start with a credit union with a small minimum deposit into a general share fund which is like a personal savings account. This is a small fee of around five dollars usually onetime fee held in escrow in your General Share account. A small price to pay for a big change in your financial well-being.
To find a credit union in your area where you will find institutions and requirements to join Click Here!
Job Seekers Check Out This Website
While I was going through the Statistics for this blog I noticed that some individuals have clicked on Finding Financial Freedom. I appreciate that a job seekers website would advertise this blog so I want to reciprocate by helping our readers with the Jobs for Smart People website. In investigating this website there are several other websites for job seekers within this website and there are some skilled labor jobs within those websites.
Important: Read this Artical on Social Security posted on Yahoo Finacne!
Here is information that everyone should know about
the current statues of Social security. Get Information on what you should know
about the retirement age with information of special interest for those who are
waiting for or have applied for disability
benefits.
If you do not know your financial standing you are living in the dark. One of the first things on your mind should be knowing what your credit rating is and how you can improve it or protect it. This all starts with credit monitoring. How can you miss all the commercials on television about credit reporting and how you can get a free credit report? I know what most people say, yes you get a free credit report then you have to pay a charge every month for credit monitoring. Credit monitoring is around fifteen dollars a month and it is a small price to pay to detect any problems or potential problems with you credit rating. Over the past seven years I do not only have one, I have two credit monitoring programs going and I have avoided on several occasions potential harm to my credit report by inaccurate entries or mistakes to my credit report. Computers and individuals make mistakes and it is your job to protect yourself. No one will automatically do it for you.
My wife shares her name with many other Scott's. If you have a common name like Lisa Brown or William Jones you have a real good chance you may have cross entries on your credit report caused by human error. And, sometimes these are not easy to get one of these disputes to get off your credit report if you do not respond swiftly. I have even heard a case where a parent’s teenage daughter rented a movie from Block Buster on the parent’s membership card and did not return the movie and a year or so later the parent went to apply for a loan, and was turned down for the loan because that movie was neither returned nor paid for. I am sure there are more horror storied like this one out there. The longer little stupid errors like these stay on your credit report the harder they are to get off so address them quickly.
Good credit monitoring services help you understand your credit and what to do if there is a problem with your credit report. Also if you have been under financial duress you are a potential candidate for many mistakes that can affect your financial recovery. While you are in your recovery period you want to make sure constantly, there are no mistakes being made through collection agencies and unsettled claims about you and your accounts. With credit monitoring anything in the future that is derogatory against your credit report will be either mailed or e-mailed to you to give you a chance to respond as swiftly as you feel you need to.
I want to remind everyone we do have video on collection agencies below the blog posts in the Video Section that you may want to pay special attention too.
What You Need To Do If You Discover Problems
There are two ways you can go when fixing problems with your credit report. You can do it yourself or you can go with an Agency that will advise you of potential problems and then help you fix them. Many people once you understand credit reporting and how to recognize problems can go about the task yourself. This can be time consuming but can be rewarding when you get everything in line as it should be. If you have many potential problems you may want to hire a service or an agency. All the services I recommend are on the side bar. If you want to do more research My Shopping Genie I highly suggest to help organize and speed up your searches remember the download is free. This is a personal decision I know the Attorney from Find Law said you can do this yourself. However instead of taking days away from work it may pay to look into these services. One of these services could at least tell you where you need to start or handle potential problems for you.
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Some of you that have a good credit history and may want to protect it in a different way. Fraud detection companies, services or websites may make you feel a little more comfortable. If you make many online transactions you may want to go in this direction. But, by monitoring your credit card statements or any statements you can monitor yourself online with regular credit monitoring you should be able to detect and stop any threats quickly. Your financial well being takes constant monitoring from you it is up to you and only you can protect yourself. You have to plan some time each week for strategy and defense. It can be a real battle ground out there and we have the tools to help you do battle when a problem comes up.
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If you decide to fix these problems yourself we also have some other ways we can help. On the sidebar there is Just Ask. If you want a second opinion on anything or you just need to know something Just Ask has professionals in medical care, law, and technical help. We also have sources where you can find a lawyer or get any legal documents you may need saving you the expense of hiring a lawyer or the original consultation fees. Where all the other financial experts give you direction, we give you resources to stay on course to financial freedom.
Here is more information from Forbes Magazine on how your Credit Rating effects you.
The New Credit Score Rules
by Justine Rivero
Monday, August 29, 2011
The average credit score nationwide is 666, according to CreditKarma.com. That's not only an ominous number, but can be a costly one.
Based on CreditKarma.com's data, the trend amongst lenders shows that a 660 credit score is the threshold to be approved for a mortgage, auto loan and unsecured credit card. Digging deeper into consumers' credit health, nearly 40% of consumers have a credit score below 660. That means 4 out of 10 Americans would likely be denied for a mortgage and auto loan, charged sky-high interest rates, and only qualify for a secured credit card.
With credit scores controlling consumers' access to credit and the prices they pay for lending products, Americans must take control of their credit health.
In the fine line between approval and denial in lending, consumers deserve to know more so they can do more about their credit health. While recent federal regulations have nudged open the door on consumers' access to credit, it's not enough. Consumers must be empowered to actively manage their credit, not just when they are transacting but also in their daily financial life.
As legislation and economic changes evolve the credit industry, consumers' access to credit scores must be broadened. Here's what you need to know about credit now.
1. It's your consumer right to get a free credit score! Thanks to a recent federal regulation, consumers who are denied on a credit application or receive higher interests due to their credit profile are entitled to see their credit score for free. This only applies to declined consumers, so it begs the question: why aren't all consumers getting their credit score for free? With such significant impact on accessing and pricing of financial products, free credit score access should be a right of all consumers. We may see government efforts to provide free credit score access on the horizon. Once a mysterious and proprietary secret of the credit industry, credit scores are becoming a powerful tool in the hands of consumers.
2. Standards for accessing credit are always in motion. Once upon a time, the general "good" credit score standard was 660. During the recession's credit crunch, the standard jumped to 720. It appears some credit card issuers are again expanding their credit standards and approving lower credit tiers. Some mortgage lenders say a 720 credit score is needed to get the best mortgage rate, while others say 750 is the new standard. Additionally, lenders are increasingly focusing on other credit details aside from your three digit score. For example, a consumer can have a 780 credit score, considered in the excellent range, and be denied on a credit card application because their credit history is simply not long enough. It'll take time and economic stability till lenders comfortably agree on credit score standards; hopefully that keeps you on your toes and improving credit health everyday.
3. It's not enough to check your credit score. One drawback of the federal regulation is its limitations. Giving consumers access to their credit after being denied is too little, too late. Credit scores can fluctuate suddenly, so a single snapshot isn't enough. What's necessary is for consumers to monitor their credit. Whether you have a 550 or an 800, tracking trends in your credit use and credit score helps identify areas to improve, habits to avoid, and most importantly, makes you conscious of how day-to-day financial decisions impacts your credit health. You might need several months' cushion to polish up your score, so begin monitoring your credit as soon as you plan to buy a home or car, or apply for a loan or credit card. If you aren't applying for credit but currently have a credit card, it's still imperative to stay on top of your credit health. Issuers periodically do an account review, and if any new credit blemishes appear, it could affect your card terms. Proactively use credit score monitoring services so you, and not lenders, are the first to know about recent changes on your credit.
4. Expect credit score differences. The federal regulation also shined light on the fact that there are dozens of credit score models in use. While many consumers consider FICO to be the "real" score and everything else to be a "FAKO", the truth is that every lender chooses differently: there are the credit bureau-specific models, the VantageScore, the FICO score, scores specific to lender type like mortgage, auto and credit card issuers, and even models particular to certain banks. If your TransUnion score and VantageScore have a 40 point difference, there isn't a "more accurate" score. It's similar to weighing yourself at home versus the gym or the doctor's office; the scales show different numbers because they're calibrated differently, but ultimately, they all measure your weight. Rather than obsessing over the three-digit score, focus on the risk factors involved such as your debt, number of accounts, and credit use. Just like diet and exercise will reflect in your weight across all scales, taking action to holistically improve your credit health will reflect across the broad spectrum of credit score models.
While the recent federal regulation is a positive move for consumers, lenders have already found loopholes, reports SmartMoney. For example, if the lender uses its own scoring model, they aren't required to disclose that credit score to consumers. Also, insurance companies, which also use a credit score model to evaluate customers and price premiums, are excluded from this regulation and aren't required to disclose credit scores to consumers who are charged a higher premium.
As the Consumer Financial Protection Bureau stretches its reach and more financial reform finds its legs, consumers must keep challenging Uncle Sam to keep the heat on the financial industry when it comes to credit score access. Consumers must also keep putting in the legwork to build healthy credit and keep an eye on their credit score.
We're headed in the right direction when it comes to consumers' access to their credit score. But don't walk away from this topic just yet; we barely have our foot in the door.
My intent with any entry in this blog is help you start your research the rest is up to you. I could have given up many times myself but thanks to the knowledge and support of others I am accomplishing my goals in becoming financially free. This can be an angering, frustrating, or frightening process that can make you feel hopeless at times but, I want you to find some comfort here and get yourself on the right path to happiness and financial freedom.
I do not want you to get the impression that I am going to tell you are doing everything wrong and take a big assessment of your life. What I am going to discuss in this post is what you can do about feeling better about yourself so you can start changing the direction of your life. We all hit roadblocks and when we hit a roadblock what are we going to do to readjust? This is the difference between making decisions to start getting ahead and the decisions that keep holding us back. When it comes to services that will help you get on track let’s leave that work to the professionals which gives us a chance to do some creative thinking to do on our own. You have a whole host of professionals who can help you in different ways and categories on the sidebar and if you can’t find anything there My Shopping Genie will be more than glad to help you by enhancing your search engine experience also now on the sidebar. We want to help you change your thinking on the value of you and your family over just the dollar. You and your family increase in value where the dollar declines in value.
In the last couple of entries we refer you to some influential reading. The Millionaire Next Door book is basically is about getting into the mindset of what a truly wealthy person does to secure his future. Sometimes thinking wealthy is instinct and sometimes we have to change our values or ourselves to think wealthy. I, like Robert Kiyosaki had a Rich Dad and two Poor Dads in my life and I admire all the outlooks and have each one has been influential in how I think. The two books the Millionaire Next Door and Rich Dad Poor Dad are conflicting in a way but, they both answer some real questions on how to become secure in a way that is comfortable or comfortably exciting for you and me. All I ask of you is to keep on reading and become comfortable in who you are and in your life. If you had read the Millionaire Next Door and if you are still reading it after two weeks or so, I can understand it took me a while.
Just thinking ahead a little bit and you will have a chance to compare both books I want to give you an example of my family. My Step Father and my father–in-law are PAWs (Positively Achieving Wealth) who diligently saved and when they died they had a little something left for the family after liquidating and distributing all their assets. My step father was a self-employed landscaper that had gotten his GED and went on to take courses at Penn State in Landscape Design and did real well in his field. My step father only enlisted part-time help when he needed help. Yea! It was mainly me who helped him. And, when he nailed the last nail in his house it was paid for in full, Real Estate and all. My father-in-law on the other-hand, worked for Bell of Pennsylvania and Retired from AT&T as a PBX installer. He was one of the last service people who serviced and installed mechanical networks in the phone industry of the 1970s to late 1980s which replaced switchboards before being replaced now by the computer driven systems being used today. He was one of an elite few that knew how to work on those systems and raised great money, with great health benefits and savings while raising a wonderful family of six children.
On the other hand my father was a successful Insurance Executive while starting his company by doing health insurance sales calls himself then drafting a few others to help sell insurance. Then he went on to starting an agency, to buying the company, until finally the time it went public on the Philadelphia Stock Exchange. My wife still works for an agency that was connected to my father’s business. Anyway, my father was a UAW (Under Achieving Wealth) and he still lives his life that way. He carries allot of credit card debt which takes away from his Net Worth. He still has a good income to work with even though he only has a few investments left in his portfolio. At eighty four he has slowed down the pace of his spending a little but he is still a UAW just the same.
This is Robert Kiyosaki’s theory on life. However his wealth is in business investments or portfolio. You can’t take it with you so earn it, invest it and spend it, leaving the business aspect to the family to keep it successful after he passes.
“Live for today because your money will be worth less tomorrow. Your business and good investments will follow the rate of inflation not money!”
Robert Kiyosaki
I picked Robert Kiyosaki over Donald Trump as a success image of this blog because I believe he better represents the image of us as a people instead of the stereotypical wealthy person. I like Donald Trump but in some ways he is too Hollywood to grab the role of the Influential person I would like to refer people to in this blog. Robert Kiyosaki to me represents everyone and the goal here is to inspire everyone to become financially free.
There is no right or wrong answer here! The only answer to the question is which role do you want to play in becoming finically free?
Is there any right way to become financially free? The key here is to find positive influential people and make them a part of you routine and be a follower and a leader by being influential and positive to those around you. You find that this positive feeling starts to rub off on others. Your positive outlook helps others as well as your own self-esteem. If others do not agree with you slowly push them to the back of the line by staying positive to others around you. Start by setting small goals and achieve them first. Get yourself on a positive note then raise the bar on achieving your goals by setting and achieving bigger goals. Live your life in a positive way and those roadblocks will not feel so much like road blocks anymore!
This Week’s Rant
It takes all kinds of people to make up this world. But, I do not have to accept negative people in my world! In fact I don’t! Yes, I still have some people in my life that are negative people but they have little or no influence in my world. The world can be challenging enough without negative people influencing my world. No matter what happens in my world I only accept positive influences in it. The people in my life now are the ones that offer me positive belief in them and myself. I have gone through some tough times but they were only learning experiences as stepping stones to a better future.
I know with this Post I am breaking the blogging rules but I do this with most of my posts on this blog anyway. There always seems so much to cover. This is why you see different topics in each post however I try to get back to each topic each week I post. Anyway I want to take the time to update everyone on jobs. The headlines everyday reminds me how many of us are still looking for a job. This week’s headline Don’t Give Up On Your Day Job is merely a head line not intended to upset or redirect anyone. I titled it just to get your attention but we will reference that topic a little later in this post.
I did see something on the news the other morning about people who have given up the job search. When people get out of the routine of working that routine of not working can be toxic to their job hunting initiative. If you are out of work you should at least try to work part time to re-stimulate a working routine. This will also help you in getting a new permanent job because a potential employer gets the impression that you want to do something to help yourself and they see that you are motivated by at the least having a part-time job. People who are just staying home give off the persona that they are willing to except anything where the motived person is willing to do what it takes to get ahead. Sometimes a step backward in your career can help you you take a step forward this expert had said. He proven it by saying when he got laid off as an economist he had taken a part-time job in retailing until he got a job as an economic analyst and commentator.
In other words do not Give Up Looking For A Day Job!
You will prevail! Many individuals have done it you can too, even in this bad economy. Those who want to work are working. Those who want a job are looking for one and will get one. Any less than that, well we all know the answer is to that statement.
For the job seekers we have added more websites where you can post post your Resume’ for free. Just go down the sidebar and look into those websites. Click on the banners and read the terms and conditions to see if the website is what you want to use. We offer more than one website per category to make it easy for you to find out what suits you. If you are comfortable post your resume’ on all those websites if they have a category with your job description. It can’t hurt you to get your name out to every resource you can. We also refer you to My Shopping Genie so you can continue your research using search engines if you cannot find something adequate for yourself in this blog or want to do more in finding a job. Everything in this blog is dedicated to helping you improve your life. My Shopping Genie will help with local searches listing local websites first. We also try to find quality sites and companies for you to work with and many of the websites have listed in this blog have high ratings with the Better Business Bureau.
I know you are going to ask me why am I writing this blog and I am going to tell you why!
I am no stranger to financial problems. One financial problem I had was caused by a business that had to be liquidated because of my disability. The other was caused by my source of disability funding was cut off after ten years of receiving that income by an investigator’s error. Not only did I not have my disability benefits for fourteen months, a large portion of the benefits were taken to pay my lawyer’s fees to get me reinstated and receive my benefits again. None the less a large portion of my wife’s retirement was lost because of fines and penalties that were paid to the IRS from using those funds to survive during that time period. And finally I had to pay more income taxes this year because I was forced into a higher income bracket because I was paid two years of benefits in one tax year. This was not to mention using debt to pay debt to keep my wife’s retirement somewhat intact. So if you want to ask me if am sympathetic to those of you in need and it does not have to be anywhere related to what I went through, I still understand. I also understand your situation could be worse than mine. My wife and I have spent the last year cleaning up the aftermath of what happened to us two and a half years ago. It was two and a half years before we had gotten everything straightened out from when I was dropped from disability. This blog is a part result of the research I did and some other ideas I could use to help those of us in financial distress.
In this blog you will find many great ways / tools we can help you with. As I go on I will find more reading material and resources to coaching to help you. I do recommend you review Getting Set With A Budget our June 12, 2011 Post to see what we recommended. There is a lot of good information to help you if you are new to this blog and have not read that Post. Also take the time to understand What True Wealth Is our in last Post July 22, 2011. The Millionaire Next Door is a terrific read and the knowledge in that book will help you for years to come in your attitude toward financial planning and spending habits.
This Weeks Rant!
It is amazing how the incompetence of others impacts our lives. It seems we always have to stay aware and be diligent when it comes to all aspects of our lives. We all work hard to set up borders to guard ourselves but because either someone competitive wants to excel at the expense of our wellbeing or just the plain incompetence of others can so drastically impact our lives.It only takes one person to misunderstand the information or the wrong press of a computer key. Never the less I want you to know as this blog goes on there will be the hope and understanding you are looking for in your research to a better financial future.
This Week’s Money Making Tip
This is where Don’t Give Up Your Day Job really takes meaning. I see so many people have high expectations of a direct marketing opportunity. When they end up disappointed they give direct marketing a bad name because the opportunity was not quite for them, they quit their regular job too soon, or they just plain quit before they got out of the gate. Most of what I am doing right now is direct marketing and I will not leave it a secret. If you look at direct marketing as a part-time job where you will eventually get ahead, you may be giving yourself the opportunity to become fully self-employed someday. This is the only way to look at a direct marketing opportunity. Get started, set goals, achieve them and go from there. You have to be determined if you are going to succeed.
For those of you who are unemployed this may be worth trying but from my experience it does take some time to develop a direct marketing business so I would only look at this opportunity as a part-time job. Try it out then go with your own feelings about increasing your income. You could have success but do not ruin it for yourself by raising the bar to high. Financially you may have allot on your plate already.
This also could be a great opportunity for a stay at home spouse or parent looking to develop something for yourself and do more to help out your household financially. This opportunity could be for someone like me who is disabled and wants to develop a new financial path in life. None the less in the last Post I introduced you to Customer Advantage. Customer Advantage is free to sign up for and get started with. I have sat in on their webinars and this could be a great place to start as a direct marketer and you can look in your city or town for prospects to advertise in customer advantage. It also is a great place to learn how to start a direct marketing business for free no matter what niche or path you decide to go. We will get into that with the next post.
Customer Advantage is still in the prelaunch stage and it will be easy for you to get started in your city or town and all you have to do is be willing to refer people and businesses to Customer Advantage. It is free to sign up with Customer Advantage, there are no hosting fees, and everyone you refer gets the same thing whether they want to make money with the referral program or not. For Free you can be one of the top distributors in your home town just by putting in some effort.
For this week sign up with Customer Advantage and save your e-mails to get into your back office. If you are familiar with a back office go ahead and explore the benefits and there is a page were you can listen to webinars done in the past get started and learn. It’s Free!!!
Before signing up take the time to choose a good or catchy name for your website. Your user name will be your web address name. Mine is FindingFinancialFreedom. My web-address for that site is findingfinacialfreedom.thecustomeradvantage.com you may want something shorter or just use your own name to identify yourself as being a Customer Advantage Representative.
Here is some advice from the author of Rich Dad Poor Dad Robert Kiyosaki.
In the June 24, 2011 entry we had made a reference to individuals that feel the need to keep up with the Joneses. People live by the myth that because people buy and display goods that show their statuses and are truly wealthy people. Those individuals do not get the fact that these are just material things and have nothing to do with real wealth. Years ago when you watched the Lifestyles of the Rich and Famous you saw all the glamour but never really got a look into any of those individual’s checkbooks. It all goes back to the theory that the grass looks greener on the other side of the fence. How many celebrities have you heard of that have gone bankrupt. Just because you have money does not mean you know how to spend or invest it wisely. It just means you have a great income and when the income stops a certain reality appears into the picture of true wealth. True wealthy people do not have the hardships that most of us have because of their frugalness and diligence where money, investing and savings are concerned.
Did you know that there are many wealthy people out there that you would not even know they are wealthy?
I am not talking about everyone being a millionaire I am talking about individuals being financially secure. I am talking about individuals with their homes paid off with significant savings and investments. This is also called Net Worth and True Wealth. A person with a Net Worth that far exceeds what that individual has in debts (Gross Worth) can also be considered wealthy. Gross Worth is a total value of what you own before you add in Loan to Value. Net Worth is the value of what you own after you consider your Loan to Value. If your Loan to Value is seventy five percent your Net Worth is twenty five percent. If what you have financed is close to or exceeds your Gross worth you are not wealthy and this is where many of us run into trouble.
If struggling to live pay check to paycheck is not wealth it is what it is?
Struggling paycheck to paycheck and it does not matter where you live or what you drive you are still struggling paycheck to paycheck. In this blog we want to get you away for that routine and on with a new way of thinking about money and how you spend it. This however is a process that cannot be done overnight. It is a process of breaking old bad habits and establishing new good and disciplined habits.
What we are talking about here is taking the time to plan your financial future or financial well being before it is too late. The true basis for this blog is coming from the book The Millionaire Next Door by Thomas J. Stanley, Ph.D. and William D. Danko, Ph.D. Where I do not believe everyone has to be a millionaire to be wealthy I do believe the fundamentals in this book will make you wealthy minded and even if you do not attain a million in net worth you are wealthy if your net worth far exceeds your debts or you have no debt at all. This to me is financial freedom and this is what we are seeking with this blog. If you get nothing else out of this blog you will get a strong sense of financial responsibility to yourself, for your family and live a more rewarding life day by day.
How Mortgage Or Loan Modification May Be Able To Help You
In the June 18, 2011 entry before we talked about the tough choices and we talked about finding financing through Credit Unions. We talked about Credit Unions First Because that is a real viable option if your debt problem is short term. Loan Modification may be a resource you may want to opt into if you want a longer term fix on an asset you are spending almost everything you have to stay out of foreclosure. Back during the real estate boom they were offering financing that was attractive to buyers to sell homes not actually looking at the long term interests of the home buyer. These mortgages have left many people on the verge of foreclosure while using most or all their resources to stay in their home. What do you do at this point?
Above I said asset because your home is usually worth more than what is owed on it. As a result in the crash of the real estate market this is not always the case anymore. However it is still real property and in time may regain its value and more becoming an asset again. This is where Loan Modification comes in. As long as your home is your primary residence you are most likely eligible. The one requirement is that you have to be able to afford the home after the Loan Modification is complete. This is where people get confused and do not even try or just do nothing. . In the previous entry we told you of a source to help you do the Loan Modification through the government. This program is due to expire July 22, 2011. If you do not want to do the modification by yourself there are services that can help you and you will find out more coming up.
If this is a rental property and you do not live in it you may not be able to get a Loan Modification on it. Some companies do modification on assets but it may be a time consuming chore to find a Loan Modification company that handles that kind of loan modification. There are some out there.
We have again have ways you can get more information on Loan Modification.
Why The Mortgage Problem Does Not Seem Like It Is Going Away!
Also download My Shopping Genie where you can find and shop for Loan Modification professionals in your area using your favorite Search Engine. My Shopping Genie is not just for shopping for goods it is also great for the services you need to help you become financially fit. The My Shopping Genie is Free and you can download it at the conclusion of this article or on the sidebar.
This Week’s Rant
By now you know how we feel about keeping up with the Joneses. People need to learn how to live their own life and not worry about what the person next door is doing. Living in a nice home in a nice neighborhood is what the goal should be in life. If your goals are higher attain them first by figuring out what you are going to do to achieve them with the least amount of financing if any at all. Dreaming about having and eventually getting something you like that someone else has is alright. It is good to have dreams but, if you need to purchase something someone else has because they have it or just to keep up with them is envy, and envy becomes many men and women’s downfall. Do not confuse what I just said with being competitive. Be competitive and achieve your dreams but, do not sacrifice your dreams just because of statuses. Set up boundaries for yourself and live within your means because Judgment Day could be a reality when you conduct your life by keeping up with the Joneses, especially in this fragile economy.
The individual in this video could be me but he is not. I really do like what he has to say and this video fits in with the theme of this blog well.
When we discovered the material in this blog entry we noticed that there is a time limit on applying for this Government Sponsored Loan Modification. We kept this Posted to give Homeowner every chance possible to take advantage of this program at no cost to you the homeowner. Please if you are struggling take advantage of this program by The Friday July 22, 2011 Deadline. Come this Friday we are going to have a new entry and this entry (Below) will remain in the archives. We will advise readers in the future if this program is extended. We will continue this week with Loan Modification Services for those who believe they need help with tne application and processing however, you have to remember these services mentioned in the upcoming entry are paid services and are not free like the loan modification mentioned in this entry.
We will also be discusing another upcoming opportunity that you can start at no cost to you. This opportunity is still in pre-launch and will help you develop as a marketer with free trainings using webinars and webinar archives with more training features and more in your back office. This means no hosting fees, no website construction fees, with no fees of any kind to get started. Please be here Friday for this new informative post.
Posted on July 1, 2011
In this Week’s Blog Entry We were going to offer some loan modification suggestions to struggling home owners from private companies which we will do next week. These companies are motivated to help you with loan modification however there is a fee involved that is added into the process. These would be your last options. Looking through the Yahoo News Briefs I had found this little Gem with an earlier article to help struggling home owners. It seems that the US Government has fallen way short on their goal of helping struggling home owners with this program. In this holiday weekend if you can take some time to fill out the application on the website associated with these articles and get the help you need, here is your chance to do it directly from the Government. Even if you think you do not qualify give it a chance. We truly believe we can help you change your financial future by reading this blog. This blog is not only about financial education it is also about rebuilding your life by finding that job or establishing a home business. There is so much we can help you with here at Finding Financial Freedom. We consider this a big step in your financial relief to give you this very important information with the link where you can find out more.
The Deadline for applications to this Government Mortgage or Loan Modification Program is July 22, 2011!
Have a Safe and Happy Fourth of July!!!
Blaine
More Money for Struggling Homeowners
by Anna Maria Andriotis provided by Smart Money from Yahoo June 30, 2011
A new federal program is offering aid with a sweet kicker: It doesn't need to be repaid.
For the roughly four million homeowners who have fallen behind on their mortgage payments, the federal government is offering yet another remedy: free money to catch up on their loans.
The effort, called the Emergency Homeowners Loan Program, is the latest in the federal government's efforts to slow down the flood of foreclosures a necessary step to a meaningful recovery in the housing market, says a Department of Housing and Urban Development official. For people who have lost their jobs, the $1 billion program offers loans of up to $50,000 that don't actually need to be repaid, if applicants meet certain requirements.
The goal, says HUD, is to offer short-term aid to people who look like they'll be back on their feet soon. But critics say the loans may leave homeowners worse off in the long run. "This is a short run band-aid, a modest attempt to grapple with the severity of the situation," says Stuart Gabriel, director of the Ziman Center for Real Estate at the University of California, Los Angeles.
Rolled out by HUD and the nonprofit housing advocacy group Neighbor Works America, the program is making loans with far better terms than anything on offer at a local bank. The loans are interest-free. Payments go directly to the lender for a portion of the borrower's monthly mortgage, including missed payments or past due charges. And when the assistance period -- which runs for up to two years -- ends, 20% of the loan is forgiven with each passing year. In other words, for qualified borrowers who stay in their home for at least five years after the assistance period and who don't fall behind on their mortgage again, this money doesn't have to be paid back.
But some critics say that's where help for consumers ends. By taking this loan, borrowers risk falling further into debt. If they sell their home before the entire loan is forgiven, they'll be on the hook for the remaining amount. The same holds true if they fall behind on their mortgage payments again: they'll need to repay the remaining balance of the loan when they sell or refinance their home. Separately, borrowers aren't required to have equity in their home to receive this money, so someone who has to repay this loan risks owing more on the home later than they do now. For homeowners who are significantly underwater now, the loan may only delay foreclosure, says Gabriel. While the limit each person will get is up to $50,000, loans will average about $35,000 per person, according to Neighbor Works America.
Others say the program doesn't go far enough. The loans will be made available to around 30,000 applicants -- "a drop in the bucket," says Stu Feldstein, president at SMR Research, a housing and mortgage research firm. It's helpful, he says, but it won't be enough to seriously boost the ailing housing market. Roughly 4 to 4.5 million borrowers are behind on their mortgages by at least 90 days or are in foreclosure, accounting for roughly 8% of all mortgages. Housing analysts say the loss of income is the primary reason why borrowers are in danger of losing their homes. Those behind the program counter that the help will be significant for some. "If you are one of those 30,000 people, I think you should be very excited to get this help," says a Neighbor Works America spokesman.
The program started last week and will take applications through July 22. Many experts say it's still too early to say it will be successful, and so far federal assistance programs haven't impacted a significant number of borrowers. The government's Home Affordable Modification Program, which started in 2009 and was projected to help up to 4 million homeowners lower their mortgage payments has so far only permanently helped around 700,000 homeowners. To be eligible, homeowners must have lost income and be at risk of foreclosure due to involuntary job loss, underemployment or a medical or other economic condition; details on the application process are available online through Neighbor Works America.
Until recently, it took a rare combination of extreme bad luck and poor judgment for a homeowner to end up under water on his mortgage that is, owing more than the house is worth. Today, nearly one out of four homeowners is facing exactly that situation. In response, banks and the government are rolling out new programs they say will help that is, for homeowners who qualify.
After banks' initial resistance to loan modification programs and refinancing designed to help struggling borrowers, many are now embracing programs for homeowners in trouble. Both GMAC Mortgage and Wells Fargo have started either reducing some mortgage balances, deferring payments or offering subsidized refinancing. Chase says it will open another 30 dedicated "help centers" this year where homeowners can apply for loan modifications. This month, the government also stepped in, extending the period for underwater borrowers to refinance their mortgages at lower rates, which was not possible through standard refinance programs. "All of a sudden, everyone is aware of this growing problem," says Stu Feldstein, president at SMR Research, which tracks the mortgage market.
About a year ago, it seemed the number of underwater homeowners was declining as home prices were rising. But housing analysts say that trend is now reversing. Approximately 23% of homeowners with a mortgage are underwater -- near an all-time high -- according to fourth quarter 2010 data from CoreLogic, a mortgage-data firm. That figure rose for the first time in a year, and it's up from 22.5% in the previous quarter. Meanwhile, another 2.4 million homeowners are teetering on the brink, with less than 5% equity in their home. If home prices drop another 10% -- which is likely over the next year many of those owners could end up with negative equity, says Cameron Findlay, chief economist at LendingTree.com.
While this has been an obvious problem since 2008, "large banks have been extraordinarily slow to move to adopt these programs," says Paul Leonard, a director at the Center for Responsible Lending. But now lenders are increasingly stepping in, eager to avoid foreclosures, which can cost the bank far more than a reduced payment plan or loan modification ever would. Lenders are also hoping to keep discouraged homeowners from intentionally walking away from their home: Half of homeowners who owe 50% or more on their home than it's worth and who default do so strictly because of negative equity, according to a 2010 Federal Reserve Board study.
But the banks' programs aren't designed simply for people disappointed by falling prices. To qualify, in most cases, borrowers have to prove they're having trouble making their payments and for a good reason. They'll often have to provide documentation for a job loss, a pay cut, large medical expenses or other unanticipated losses. If approved, they could be offered a lower interest rate by up to 2% when a bank is participating in the government's Home Affordable Modification Program. Or they may also receive a longer repayment period extending a mortgage up to 40 years from the date of origination -- which makes monthly payments smaller, says Leonard.
With some lenders, borrowers who are past due and whose home values have suffered large losses (and appear unlikely to recover in the near term) could qualify for a principal deferment, where a chunk of the mortgage is set aside to be paid later, or out-and-out forgiveness of part of the loan. In general, borrowers will have to meet some income limitations. Modifications typically occur when a borrower's monthly mortgage payment is more than 31% of their monthly household pre-tax income and when the principal balance is no more than $729,750 on a single-family home. The amount forgiven is often small in the grand scheme of things, and it varies depending on the lender and the borrower's circumstances. Wells Fargo, for example, says it eliminated $51,000 in principal, on average, for more than 73,000 borrowers from 2009 through 2010.
Some government programs offer help, through refinancing, to underwater borrowers who are capable of making payments. But applicants will need to meet a long list of qualifications. For underwater borrowers, these programs are among the very few options available for them to refinance. Homeowners who owe up 125% of their home's current market value should contact their lender or mortgage servicer to find out if they're participating in the government's Home Affordable Refinance Program (HARP), which was just extended through June 2012. Borrowers must have a mortgage that's guaranteed by Fannie Mae or Freddie Mac -- to find out, contact these agencies or your mortgage company -- be current on their payments, and not be more than a month late making a payment over the past year.
There's also an option for borrowers who are even further underwater where participating lenders must agree to write off at least 10% of their unpaid principal balance on their primary mortgage. Since September, the government's Federal Housing Administration has been offering some underwater borrowers in areas with large declines in home values -- like Miami and Las Vegas -- a chance to refinance. But that's assuming that their lender agrees to write off a portion of the unpaid principal and that the borrower doesn't have an FHA mortgage but can now qualify for one. So far, just 24 lenders are participating, and only 99 loans have been approved, according to an FHA spokesman. A GMAC spokeswoman says the company will open up this program to some of its borrowers in the next few weeks.
In spite of the recent flurry of activity, consumer advocates say homeowners shouldn't expect much at least not yet. As it is, some government programs have already fallen short of expectations. HAMP, for example, has helped around 600,000 people permanently modify their mortgages since 2009 -- so far, a far cry from the up to four million it was projected to help. And banks have been slow to act as well, especially when it comes to borrowers who are currently making payments. Among lenders "there is some concern that by offering [principal reduction] qualified borrowers will storm the gate and demand a reduction," Leonard says. So far, that hasn't been the case. From 2009 through 2010, Chase says it helped around 500,000 borrowers avoid foreclosure. During that period, about two million foreclosures occurred, according to RealtyTrac.com. And critics say even the loan modifications that have been in place haven't helped that much: Many of those borrowers fell behind on payments again afterwards.
Of course, there are other options for desperate homeowners. They can try a short sale, assuming the bank allows them to sell the home for less than what's owed on the mortgage. More lenders are now open to this, says Stuart Gabriel, director at UCLA's Ziman Center for Real Estate, because they're likely to lose less money in a short sale than they would in a foreclosure. Or, if they can make the payments, they can decide to ride it out. Contrary to popular belief, homeowners who have seen their homes lose 25% or more in value but can afford to keep paying the mortgage might be better off staying there and waiting for prices to stabilize, says Findlay. But if a borrower is able to refinance into a lower rate through a government program, that might be the better move, he says.
Please be advised that we do not endorse any company in this video and that it's educational value in loan modification preparation was the only reason we chose this video.
Get More Information about the Mortgage Crisis by watching this video from 60 Minutes.
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