Each one of these things can have serious consequences depending on the plan we develop for dealing with your debt, so: 1. Don’t borrow any more money. Don’t take out a second mortgage. 2. Don’t take money out of your retirement, 401k, or IRA. 3. Stop using your credit cards.…
I have found it helpful to share this checklist with people who call asking me “Should I file bankruptcy?” In a nutshell, if more than two of the following issues apply to you, it is possible that bankruptcy would be an option worth investigating further: Debt collectors are calling you…
I had the pleasure of being a guest again on the Mississippi Public Broadcasting (MPB) show – Money Talks – on April 02, 2013. It was “Foreclosure Prevention Week” so we spent the hour discussing the process of foreclosure in Mississippi and the options available to consumers to save their home. If…
Thinking about walking away from your rental property? You are not alone. Over 11 million people are upside down on the house they live in. The same conditions affect your investment property. To make things worse, when tenants can’t pay their rent, you must still come up with the monthly…
At least twice a month I receive calls from homeowners who are in the middle of the modification process with their mortgage company and they get notice of a foreclosure. Over and over they had been told the modification was still being reviewed. In some cases they were told they’d…
I will be teaching in the Millsaps College Community Enrichment program – 2012 Fall Series that is open to the public. I will be hosting 2 sessions under the section “Money & Business”. Click here to register. “Who Owns your Home? Mortgage Securitization in Mississippi” will be a 2 class session Oct…
Mississippi is leading when it comes to mortgage delinquencies. In October 2011, there were more homeowners in Mississippi behind on house notes than in any other state of the union. The Mortgage Bankers Association reported that there are 4.2 million homeowners across the nation more than 90 days late on…
Foreclosure is the process that a mortgage company takes to repossess and sell your home when you fall behind in the payments. In Mississippi, the mortgage company does not have to file a lawsuit against you and get an Order from the Court in order to sell your home. In…