Category Archives: Financial Weblinks

Financial information gathered from the Internet, with a web page address provided.

Home Sweet Home

25 Tuesday Mar 2014

Posted by in Financial Weblinks, Just a PERFECT Thought

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HOME SWEET HOME
Ms Mandi Photo 1

We have all wondered how much more our economy and as people can take. The mortgage crash of 2006 has severely affected our country and other countries. So many families have lost and are still losing their homes. It may just be a home to some. It may just be hard times, some may say. However, true these statements are, the fact of it is that a house holds a lot more than merely a roof over our heads.

A house is our home. A home is a place where we raise our children. A home is a place where we keep our memories. A home is a place where we grow as a family. A home is a place to feel safe in. A home is a place where we gain our future. A house is a lot more than just a dwelling. Our home is our house.

If you are losing your home, do not give up. Write letters to your lending company. I do not mean one letter, but letter after letter after letter, until you are heard. Study your mortgage documents so you understand what the legalities of your documents mean. What kind of mortgage do you have? Was income verified and documented? Do you have a fixed interest rate or a variable interest rate? Is your mortgage owned by one investor or several investors? Find any discrepancies you can in your documents.

The Government is working to create new programs for homes in distress and the longer you can hold on to your home, means the better chances are for you to save your home from foreclosure. Fight back and do not give up. I didn’t and against all odds, I am finally home once again.

Written By: Ask Ms Mandi

Fighting Back – Mortgage Companies vs. Homeowners

12 Tuesday Feb 2013

Posted by in Financial Weblinks

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Fighting Back – Mortgage Companies vs. Homeowners:

There is a new California Homeowner Bill of Rights Law that was passed in January 2013 by California Attorney General Kamala Harris:

1. Restriction on Dual Track Foreclosures:

Homeowners that are in the process of loan modifications will have the foreclosure process paused, while the banks are reviewing the loans for the modification.

2. Guaranteed Single Point of Contact

Homeowners are promised a single point of contact during the foreclosure / modifying process. I can say that this has not been our case. Each time we seem to be getting somewhere positive, they change the point of contact on us.

3. Verification of Documents

There is a $7,500 penalty assessed to the mortgage banks if loan documents are not verified. This too has not been our case. Our original loan document had no income verification and unknown assets on the balance sheet. Maybe this only applies to the new loan modifications, but I think they should go back and verify the existing loan documents as well, since this is where the problem originated.

4. Enforceablity

Borrowers will have ability to seek redress of material violations of the new foreclosure process protections. injunctive relief is available prior to foreclosure. This also includes recovery of damages available following the sale.

5. Tools to Prosecute Mortgage Fraud

This has been extended to 1-3 years. Mortgage fraud will be reported to Attorney General

6. Tenant Rights

This gives tenants 90 days before the eviction process, once foreclosure owners purchases the property. 18 billion dollars have been authorized to the top five largest banks for California borrowers.

7. Tools to Curb Blight

Foreclosure owners are ordered to pay for upkeep to foreclosed property to keep the curb appeal for other, nearby homeowners.

More information, go to the website at the State of California Department of Justice Office of the Attorney General:
https://www.oag.ca.gov/hbor

Written By: Ask Ms Mandi

Remembering Back….

27 Friday Apr 2012

Posted by in Financial Weblinks

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I remember back when teachers were making barely enough to survive.  Police officers and firemen were making blue-collar wages, while accountants were one of the most highly paid professionals. 

Then it turned….. teachers are making over $70,0000 a year with a Master’s Degree, policemen and firemen are making over $100,000 a year without an education.  Accountants?  Well, let’s just say, accountants are making about $40,000 – 50,000 a year in today’s economy

When did the pendulum change? 

Written By:  Ask Ms Mandi

How to Start up a Start-Up Business

06 Monday Feb 2012

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So many times businesses go wrong by not making a business plan.  A business plan is one of the key factors to making a business successful.  One reason a business plan is important is that it allows you to feasibly see where your business is starting and where it will be going.  A second reason is that it allows you to gather your ideas on how much capital you will have to invest into your business.  A third reason is that it allows you to see if you will be using investors to fund your business, if you don’t have enough capital to bring into the business. 

Please do not cash out any retirement funds or 401K’s.  Business is a risk and you do not want to risk your retirement on such a risky endeavor.  Your retirement is meant for you to have when your elderly and a business is meant for you to build prior to your elderly years, don’t risk losing your retirement that is already invested money into another investment that involves a high risk.

A business plan is something that will be used as a beginning platform and will be used to build from as the business grows.  It will be used to add an annual budget and for projection reporting.  It is used to establish bank loans, a line of credit, government loans and entice investors.  Without a business plan, most banks will not lend you money to start-up your business.  There are several loans out there for start-up companies, funded by the government, so be prepared to show your business plan.

Written By:  Ask Ms Mandi

Tax Time is upon Us

01 Wednesday Feb 2012

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February is the beginning of tax preparation.  Don’t let it stress you out.  Staying organized is the key to a less stressful tax season. 

Keep folders titled accordingly throughout the year and throw all your relevant receipts into the appropriate folder.  Then when it comes time to see your tax preparer or CPA, you have all your tax documents in an organized fashion.  Not only will your tax preparer or CPA appreciate it, you will appreciate the time saved and the added deductions found, due to your organization.

Written By:  Ask Ms Mandi

Four New Government Programs to Keep Your Home

18 Friday Nov 2011

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I just found this wonderful  website that has four new programs for California homeowners to help them keep their home from going into foreclosure.

http://www.keepyourhomecalifornia.org/programs.htm

1.  Unemployment Mortgage Assistance (UMA)

2.  Mortgage Reinstatement Assistance Program (MRAP)

3.  Principal Reduction Program (PRP)

4.  Transition Assistance Program (TAP)

Check the website out.  The programs are well-rounded and covers different problem areas with people who are in danger of losing their home.  It’s worth a try.