August 2008

In this Issue:

Facing Foreclosure? There Are Options
Who's Using Your Personal Data? *
Home Maintenance for August

*Part 1 of a 2 Part Article

(Please leave us a comment at the bottom of the newsletter.)

Facing Foreclosure? There Are Options

Facing Foreclosure? There Are Options Available... When you're facing foreclosure it feels like there is no way out. It feels like the whole world is crashing in. But, giving in to the problem by giving up is not the answer. If you ignore it, the foreclosure process will keep moving forward. Literally or figuratively crawling into bed and pulling the covers over your head will not help in any way.

But, how do you take action? What is the right action to take? Is there anything you can do to help the situation?

There are answers. There are solutions.

Let's start with the obvious questions. Is your situation one that can be fixed by catching up on your payments? If you could get current on the missed payments, do you have the ability to keep current after that point? If you could find some way to get current and stay current, then there are solutions that match your goals better than others. If the situation which caused you to fall behind on your house payments has not been corrected, then other solutions will need to be examined.

If your financial set back has been turned around and you just cannot see your way clear to catch up on the missed payments, you would be well advised to contact your lender. Try to work out one of their special payment plans or alternative catch up plans.

All banks have a loss mitigation department to handle these types of requests. They may call it something else, but it does the same thing. The names of these available programs will vary from institution to institution. They may call them work out plans or loan modifications. Other names include forbearance plans and special payment plans. Whatever the lender chooses to call their pet programs, the goal of all these programs are the same.

The bank wants to help you stay in your home if they can find a way. The bank doesn't want your home. It wants your money. Find out what plans are offered and if you can qualify.

If you are earning near what you did before your set back and can make a few lifestyle sacrifices, you will be able to work through these programs and save your home and your credit.

There are other options open to you if working with the bank just doesn't fit your situation.

There is a myriad of advice available online as well as many books for sale on the subject. One website that offers a low cost manual on avoiding foreclosure can be found at http://ForeclosureSurvival2008.com

Who's Using Your Personal Data?
(Part 1 of 2 - Part 2 in our September Issue)

Private companies are collecting your personal data like never before, whether it's discount cards at grocery stores and pharmacies, or time saving EZ Pass technology for paying tolls.

Why be concerned? Because these companies are not only providing the service you think they are, they're also giving you more than you bargained for.

For example:

1. Loyalty Cards. Supermarkets and pharmacies Loyalty Cards may be collecting data on you without you even knowing it. offer discounts when you sign up for their loyalty cards. But every time your discount card is swiped, your purchases are recorded for marketing purposes. These buying records are then being sold to life and health insurance companies, who may use them to evaluate your rates based on your food and non-prescription drug purchases. You may be buying stuff for a friend or relative, or even as a gift for someone, but the database still logs you as the end user.

2. E-Z Pass^sm. E-Z Pass technology was created to help speed traffic flow and decrease congestion at tollbooths. But several states now use this technology to issue speeding tickets—if you travel too quickly between tolls on a highway! In effect, you can get a speeding ticket even if you don't get caught speeding. What's more, E-Z Pass records have been turned over to law enforcement to track people's whereabouts, and have been subpoenaed in civil lawsuits, including divorces.

Giving up your personal data without knowing you're doing it is one thing… falling victim to Identity Theft is another. This is a growing problem, not only in the USA, but around the world. Scammers are preying on anyone who will take the bait.

Unfortunately, even the most cautious person can still find themselves with stolen identity. It happens every day.

One way to protect yourself from financial ruin is by signing up for identity protection from the only company we've seen that offers a guarantee, and that is a company called Lifelock. Subscribers to Lifelock are guaranteed protection with reimbursement up to $1,000,000 should your identity be stolen while you are their client.

In our September issue, we're going to give you a few tips and precautions you need to take to make sure you don't get swindled… and ways to avoid Identity Theft.

Home Maintenance for August

Home Maintenace Checklist We continue our monthly update from The Weather Channel's home improvement expert Danny Lipford, that not only reminds you of what needs to be done and when, but also shows you ways to save money.

August

August is the time to tackle those remaining outdoor projects or head inside if you've had enough sun…

Mend fences. Replace broken or rotting boards. Repaint fences if necessary. Oil hinges on gates.

Trim bushes and shrubs around your house. Your home has an increased risk of mold and mildew problems if you let plants grow within 12 inches of its exterior walls.

Clean your dryer vent system. Disconnect the vent from the dryer and remove built-up lint. A leaf blower attached to the inside end of the vent can quickly clear it out.

Call to have your gas or oil furnace or boiler serviced. It is best to set up the appointment before the cool weather comes. For forced-air furnaces, install a new filter every month during peak heating season.

Check back next month for your Maintenance Tip for September.