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8 do’s and don’ts for fighting foreclosure

January 17, 2008

In the beginning of the foreclosure process, homeowners can still save money, their credit or their house if they act quickly. Even when declaring bankruptcy, avoiding a foreclosure on your credit report can salvage your ability to rebuild credit and buy another house, which makes the struggle against a possible foreclosure well worthwhile.
1. Sell the [...]

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7 ways to avoid foreclosure scams

January 14, 2008

1. Don’t panic. Get detailed information about the deadlines you face in resolving your problems. Pay special attention to the date on which you would lose legal right to ownership.
2. Never sign a contract under pressure. Take your time, and consult a lawyer if possible.
3. Never sign away ownership via a quitclaim deed or other [...]

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3 types of foreclosure scams

January 8, 2008

1. Phantom help: The “rescuer” charges outrageous fees for light-duty phone calls or paperwork that the homeowner could easily do, none of which results in saving the home. This predatory scam gives homeowners a false sense of hope and prevents them from seeking qualified help.
2. The bailout: In this scam, the homeowner is deceived into [...]

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Tell your money what to do!

January 3, 2008

Having fun Christmas shopping? Well, once Christmas is over, it’s time to transition back to a normal daily routine. Don’t sigh, though! This is also a time where you can start fresh and make your money work for you! Here are some key points in developing and sticking to your budget this month:
Write it down. [...]

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Worried about bankruptcy…

January 2, 2008

Question:
My wife and I are both 30, and we’re afraid we may have to file bankruptcy. We make $70,000 a year, credit card debt of $23,000, a home with a $143,000 balance, $10,000 in student loans and $5000 in medical expenses. We’ve cut up the cards, but things look pretty bad and we’re thinking about [...]