tag:blogger.com,1999:blog-166939512011-12-14T19:44:48.959-07:00Stop Foreclosure BlogPlease join our community of homeowners who are facing foreclosure and looking for help. Our purpose is to share information, resources, tips, and strategies necessary to increase the chances of keeping your home. Learn what you must do and how to avoid being ripped off by greedy sharks who will be circling you.
Welcome!Billhttp://www.blogger.com/profile/09245102097027244729noreply@blogger.comBlogger421100tag:blogger.com,1999:blog-16693951.post-66466506760604257242007-06-09T13:56:00.000-06:002007-07-12T22:56:16.541-06:00Important Announcement:Stop Foreclosure Blog has now been redirected to Bill's newly updated website for homeowners looking for foreclosure assistance located here:Stop Foreclosure Here you'll find the single most comprehensive and #1 foreclosure help site available to homeowners. And it is FREE!Please go there now and learn how to fight back and keep your home.Billhttp://www.blogger.com/profile/09245102097027244729noreply@blogger.com4tag:blogger.com,1999:blog-16693951.post-82481862026065695572007-05-08T08:47:00.000-06:002007-05-08T09:14:20.898-06:00Foreclosure Problem ExpandingLes Christie, staff writer for CNNMoney.com, writes yesterday about the blight being caused by the foreclosure epidemic that is briskly growing."Foreclosure filings are up 35 percent nationwide since a year ago, according to RealtyTrac."Several hard-hit areas of the country are mentioned including Cleveland.' "Foreclosures have helped destabilize not only Cleveland Billhttp://www.blogger.com/profile/09245102097027244729noreply@blogger.com0tag:blogger.com,1999:blog-16693951.post-78955986199508715092007-05-03T12:16:00.000-06:002007-05-03T13:11:01.057-06:00Massachusetts Is First State To Impose Foreclosure MoratoriumMassachusetts has become the first state in the country to declare a moratorium on foreclosures stemming from predatory lending according to Yahoo News."Homeowners will now be able to submit a complaint to the Division of Banking.The division will then call the lender and ask them not to foreclose.The move comes after dozens of Billhttp://www.blogger.com/profile/09245102097027244729noreply@blogger.com0tag:blogger.com,1999:blog-16693951.post-90433349562629334212007-04-23T13:21:00.000-06:002007-04-23T13:37:59.754-06:00Will Banking Regulators Worsen The Foreclosure Crisis?Today, Jody Shenn of Bloomberg reports on another potential problem facing homeowners struggling with their mortgage payments."Banking regulators may push more homeowners into foreclosure by making it tougher to refinance subprime mortgages, said Angelo Mozilo, head of the largest U.S. home-loan lender.""The Federal Reserve, Federal Deposit Billhttp://www.blogger.com/profile/09245102097027244729noreply@blogger.com0tag:blogger.com,1999:blog-16693951.post-12894543772115447692007-04-19T07:45:00.000-06:002007-04-19T08:15:12.378-06:00A Government Mandated Foreclosure Moratorium?This is a possibility, amongst many others, being considered by Congress looking for a way to stem the tide of foreclosures nationwide. While it sounds like a good idea on the surface it may be impossible due to the complexity of the mortgage industry and its multi-tier hierarchy.Holden Lewis of Bankrate.com writes in an article released today:"The Billhttp://www.blogger.com/profile/09245102097027244729noreply@blogger.com0tag:blogger.com,1999:blog-16693951.post-20787927438519442842007-04-12T13:53:00.000-06:002007-04-12T14:09:05.946-06:00Will Government Intervene To Help Homeowners In Foreclosure?That is yet to be determined. But what we can be certain of is a heated debate on this issue in the coming months. Yesterday, key Senate Democrats fired the first shot suggesting that hundreds of millions of dollars in federal aid may be needed to assist homeowners at risk of foreclosure. Charles Schumer, chairman of the Joint Billhttp://www.blogger.com/profile/09245102097027244729noreply@blogger.com1tag:blogger.com,1999:blog-16693951.post-7422006969222906612007-04-09T20:38:00.000-06:002007-04-09T21:48:01.760-06:00Don't Be Victimized By Foreclosure "Rescue" Scam ArtistsAs I've discussed here before there are people out in your community right now looking to rip you off. They will stop at nothing to try to steal your home from you. And if you are in foreclosure you are vulnerable.This week I was sent yet another article detailing the despicable things these predators will do to try to take your home from Billhttp://www.blogger.com/profile/09245102097027244729noreply@blogger.com0tag:blogger.com,1999:blog-16693951.post-43019725807593339462007-04-06T12:41:00.000-06:002007-04-06T13:01:25.600-06:00Facing Foreclosure? Call Your Lender!Noelle Know of Gannett News included an interesting statistic in a story earlier this week:"Of the almost 280,000 homeowners who lost their homes to foreclosure last year, half of them never talked to their lenders."All I can say is wow!As I've said many times before the single most important thing you must do when facing foreclosure is contact your lender. Billhttp://www.blogger.com/profile/09245102097027244729noreply@blogger.com0tag:blogger.com,1999:blog-16693951.post-21452146637402573732007-04-02T14:55:00.000-06:002007-04-05T15:16:17.591-06:00Seek Foreclosure HotlinesColorado, where I live, has done an excellent job addressing the problems facing consumers in or heading towards foreclosure. Since they set up a Foreclosure Hotline 5 months ago they have already received over 11,000 calls from people in trouble with their home loans.Anyone outside of Colorado should contact their state's Division Of Housing to find out if they have set Billhttp://www.blogger.com/profile/09245102097027244729noreply@blogger.com0tag:blogger.com,1999:blog-16693951.post-1140467466121002482007-03-26T12:59:00.000-06:002007-04-05T15:12:21.782-06:00Simple Tips On Avoiding ForeclosureFew things are as devastating as losing your home. Sadly, it's not always inevitable. In many cases the foreclosure could've been avoided with some outside help.Foreclosure can happen to anybody. I have personally seen dozens of people with perfect credit end up facing foreclosure. The most common causes are divorce, job layoffs, or a devastating illness. Billhttp://www.blogger.com/profile/09245102097027244729noreply@blogger.com0tag:blogger.com,1999:blog-16693951.post-1137703379725729002007-03-05T13:23:00.000-07:002007-03-26T13:09:40.719-06:00Your Credit Score - Part 4: How Does A Low Credit Score Affect My Interest Rates? Lenders estimate your ability to pay back money based on your credit score. The risk factor they take on is built-in to your interest rate as a financing fee. Therefore, a low credit score results in a higher interest rate, higher monthly fees, and a higher amount of interest being paid over the total life of the Billhttp://www.blogger.com/profile/09245102097027244729noreply@blogger.com0tag:blogger.com,1999:blog-16693951.post-1137615083880962942007-02-12T12:23:00.000-07:002007-03-26T13:08:50.623-06:00Your Credit Score - Part 3: The Five Factors Determining Your Credit ScoreCredit scores are comprised of five factors. Points are awarded for each component, and a high score is most favorable. The factors are listed below in order of importance.1. PAYMENT HISTORY - 35% IMPACTPaying debt on time and in full has the greatest positive impact on your credit score. Late payments, judgments and Billhttp://www.blogger.com/profile/09245102097027244729noreply@blogger.com0tag:blogger.com,1999:blog-16693951.post-1137527541608036162007-01-22T12:40:00.000-07:002007-03-26T13:07:55.873-06:00Your Credit Score - Part 2: Why Your Credit Score Is So ImportantThe credit scoring model seeks to quantify the likelihood of a consumer to pay off debt without being more than 90 days late at any time in the future. Credit scores can range between a low score of 350 and a high score of 850. The higher the score, the better it is for the consumer, because a high credit score translates into a lowBillhttp://www.blogger.com/profile/09245102097027244729noreply@blogger.com0tag:blogger.com,1999:blog-16693951.post-1137183657669011872007-01-06T13:02:00.000-07:002007-03-26T13:05:42.706-06:00Your Credit Score - Part 1: The History of Credit ScoringThe credit score system used today has evolved since the 1960's. It was originally designed to provide lenders with financial profiles on consumers who wished to borrow money. The lender's biggest concern was whether or not an individual had the ability to repay a loan, and establish what percentage of risk might be involved.Congress passedBillhttp://www.blogger.com/profile/09245102097027244729noreply@blogger.com0tag:blogger.com,1999:blog-16693951.post-1158179173013647972006-12-13T14:26:00.000-07:002007-03-26T13:03:33.514-06:00Just How Much Money Is Your Bad Credit Costing You?If your credit is damaged you already know that you are paying more for your financing - credit cards, automobiles, and your home than someone with strong credit. But how much more? More than you probably think. If your credit is less than perfect this is a must read.But be forewarned - this is a bitter pill to swallow. But it can also act as a Billhttp://www.blogger.com/profile/09245102097027244729noreply@blogger.com0tag:blogger.com,1999:blog-16693951.post-1163018574803584342006-11-06T13:22:00.000-07:002006-11-08T13:44:55.033-07:00Avoid Online Fraud - 8 common mistakes:As more & more consumers bank and buy goods online there are some common mistakes to avoid becoming a victim of fraud. Jennifer Mulrean at MSN Money recently explored this issue.1) "Giving out personal informationThe number of so-called phishing scams has taken off. It boils down to being lured into giving your personal information by official-looking fake Billhttp://www.blogger.com/profile/09245102097027244729noreply@blogger.com3tag:blogger.com,1999:blog-16693951.post-1140038009952769032006-10-16T13:37:00.000-06:002006-10-17T13:57:33.736-06:00"What happens if I make less than the minimum payment due on a credit card?"I was emailed this question yesterday from a Denver couple who have seen a few of their credit card companies raise the minimum monthly payments from 2% to 4% of the account balance. (Which credit card companies now can legally do).Good question even though you may not like the answer. The key word here is minimum. CreditBillhttp://www.blogger.com/profile/09245102097027244729noreply@blogger.com0tag:blogger.com,1999:blog-16693951.post-1145912796598104912006-10-02T15:06:00.000-06:002006-10-17T13:59:29.533-06:00Practical Tips For Cutting CostsAre You Overpaying For Your Utilities?Many of us are spending far more on our utility bills than we should. The good news is there are solutions available that are not only easy, but inexpensive as well. Begin by gradually replacing all light bulbs with long-lasting energy savers. Next, replace all shower heads with low-flow versions. Make a concerted effort to Billhttp://www.blogger.com/profile/09245102097027244729noreply@blogger.com0tag:blogger.com,1999:blog-16693951.post-1157560398660367472006-09-06T10:30:00.000-06:002006-09-06T10:58:52.983-06:00Understanding Credit Scoring & Credit RepairCredit remediation is a subject consumers often face with fear and trepidation, and for good reason. With the exception of recognizing that the best score wins, the average home shopper knows very little about the whole credit scoring process. Sub-prime borrowers who are eager to move into A-Paper territory often find themselves at a loss when trying toBillhttp://www.blogger.com/profile/09245102097027244729noreply@blogger.com0tag:blogger.com,1999:blog-16693951.post-1147118204486040242006-08-21T13:23:00.000-06:002006-09-06T10:53:56.403-06:00Are Collection Calls Making Your Life Hell?The key is to know what your rights are. The Fair Debt Collection Practices Act states thatcollection agents may not:"- Call before 8 a.m. or after 9 p.m.- Talk to anyone but you (or your attorney, if you have one) about the debt.- Threaten to garnish wages or seize property unless they actually intend to do so.- Garnishment is illegal in some states, Billhttp://www.blogger.com/profile/09245102097027244729noreply@blogger.com1tag:blogger.com,1999:blog-16693951.post-1153859992046090492006-07-25T14:25:00.000-06:002006-07-25T15:47:40.793-06:00Can Paying Off Old Debts Actually Harm My Credit Scores?This is a question I am asked frequently and the answer may surprise you. Yes, it can.Liz Pullian Weston, as MSN Money addresses this issue:"Borrowers who try to pay off old delinquencies, charge-offs and collection accounts often learn the hard way: Sometimes, doing the right thing does the wrong thing to your credit.Quirky credit scoring Billhttp://www.blogger.com/profile/09245102097027244729noreply@blogger.com32tag:blogger.com,1999:blog-16693951.post-1152733384157236532006-07-12T13:20:00.000-06:002006-07-25T14:48:35.880-06:005 Credit Score KillersThere are endless ways to damage your credit scores these days and I think I have personally seem nearly all of them. However, some of the factors that negatively affect your credit scores may surprise you.David Ellis at CNNMoney.com writes about five such ways with only the first one being the obvious no-brainier:"Late payments:The easiest way to lower your credit score is Billhttp://www.blogger.com/profile/09245102097027244729noreply@blogger.com0tag:blogger.com,1999:blog-16693951.post-1149634219200692602006-06-06T16:38:00.000-06:002006-06-06T16:53:45.640-06:00Can you afford to retire?Alot of us work so hard every day so one day we don't have to work anymore. An alarming report today in cnnmoney.com indicates that almost half of us won't make it."A new retirement risk index released Tuesday estimates that 43 percent of working-age households are not likely to have enough retirement income to replicate their current standard of living."If this statementBillhttp://www.blogger.com/profile/09245102097027244729noreply@blogger.com2tag:blogger.com,1999:blog-16693951.post-1149191210314274302006-06-01T13:35:00.000-06:002006-06-01T13:48:52.600-06:0026 Ways To Keep From Digging Your Debt Hole Deeper On VacationJust because you are overextended now doesn't mean you can't have any fun. If you plan to go on vacation this year to get away from your money worries you can do so with some smart planning.Leslie Hunt at Bankrate.com shares with us suggestions from her frugal readers on more vacation for less dough:"1. ''Budget enough money to Billhttp://www.blogger.com/profile/09245102097027244729noreply@blogger.com0tag:blogger.com,1999:blog-16693951.post-1148403674766946962006-05-23T10:52:00.000-06:002006-05-24T12:28:02.223-06:00Get Out Of Debt In Eleven StepsGetting into debt is much easier (and fun) than getting out of debt. It requires a complete change in money behavior to avoid falling back into the debt abyss.Janet Paskin at Money Magazine lists an eleven step plan to get out of debt:"1. Go green. For everyday spending, carry around a set amount of cash to use each week. You will find that you make better Billhttp://www.blogger.com/profile/09245102097027244729noreply@blogger.com2tag:blogger.com,1999:blog-16693951.post-1147815400553376112006-05-16T15:10:00.000-06:002006-05-16T15:38:45.450-06:00Denver vs. The BubbleAmong the questions I am most frequently asked is my opinion of the Housing Bubble and it's impact and implications on Denver and the rest of our state.I don't think Colorado is going to experience the kind of problems the housing bubble presents to other parts of the country. Among the many reasons I feel this way is the fact that we already experienced a housing value Billhttp://www.blogger.com/profile/09245102097027244729noreply@blogger.com0tag:blogger.com,1999:blog-16693951.post-1147376514608068982006-05-11T13:41:00.000-06:002006-05-11T13:47:07.253-06:00When Refinancing Is A Bad IdeaMany of the people that approach me for a refinance loan really don't need one. They ignore the big picture and look only at the short-term benefits refinancing provides. There is a break-even point that you must consider. Specifically, you must plan to remain in the home long enough to re-coup the costs of the refinance loan for it to make good sense.Consolidating Billhttp://www.blogger.com/profile/09245102097027244729noreply@blogger.com0tag:blogger.com,1999:blog-16693951.post-1146597280059626692006-05-02T12:54:00.000-06:002006-05-02T13:18:54.946-06:0010 Tips To Get The Most Out Of Each Gallon Of GasWith gasoline in Colorado nearing $3 per gallon this is a good time to revisit the topic of improving your car's gas mileage.Lucy Lazarony at Bankrate.com explores simple tips that can start saving you money TODAY."1-Fill up with a lower-octane gasoline. Buy the lowest grade or octane of gasoline that is appropriate for your car. Unless your car Billhttp://www.blogger.com/profile/09245102097027244729noreply@blogger.com0tag:blogger.com,1999:blog-16693951.post-1146166108895822852006-04-27T13:10:00.000-06:002006-04-27T13:38:33.596-06:00Victim Of ID Theft? How To Fight BackHaving your identity stolen can bring financial devastation quickly and may have long-term effects that can make your life miserable. So let's first address how to avoid ID theft in the first place:According to the Federal Trade Commission skilled thieves use several methods to obtain your personal data:"How identity thieves get your personal information:-TheyBillhttp://www.blogger.com/profile/09245102097027244729noreply@blogger.com0tag:blogger.com,1999:blog-16693951.post-1145561453251744472006-04-20T13:06:00.000-06:002006-04-20T13:30:53.723-06:00Another Day Another ForeclosureThe Denver Post reported today that Colorado is leading the country in the ratio of foreclosures."One out of every 339 homes in the state was in some stage of foreclosure during March, according to RealtyTrac, an online provider of foreclosure listings."If Colorado homeowners are at less risk for a 'negative equity' situation here, as we discussed yesterday, then Billhttp://www.blogger.com/profile/09245102097027244729noreply@blogger.com0tag:blogger.com,1999:blog-16693951.post-1145481523610640032006-04-19T15:18:00.000-06:002006-04-19T15:27:53.360-06:00Don't Let Your High-Interest ARM Cost You A Leg Too...Or Your HomeThere is a growing problem in our country's housing market and that is the problem of 'negative equity'. That is when you owe more than your home is worth.According to Liz Pulliam Weston this week with MSN Money:"Many of these homeowners may soon face a "can't pay, can't sell, can't refi" situation that could lead them to lose Billhttp://www.blogger.com/profile/09245102097027244729noreply@blogger.com0tag:blogger.com,1999:blog-16693951.post-1140733170706138522006-03-23T15:07:00.000-07:002007-03-26T13:11:14.780-06:00The Federal Reserve and Mortgage Rates: Understanding What Causes Interest Rate MovementConsumers are often misled when it comes to the subject of the Federal Reserve and how it affects mortgage interest rates. Often the media is the culprit causing the confusion. In the last few years, the Fed has taken action that caused mortgage interest rates to move in a direction other than what consumers Billhttp://www.blogger.com/profile/09245102097027244729noreply@blogger.com1tag:blogger.com,1999:blog-16693951.post-1139949489687429002006-02-14T13:23:00.000-07:002006-02-15T14:22:20.733-07:00New Free Online Valuation Service Is DynamiteThere is a new free web resource available to determine the estimated value of your home. It is called Zillow.com and will quickly provide an estimate of your residential property value. The site, presently in Beta mode, is not perfect so estimates may be more accurate in some areas than in others. The Colorado home-value data I have seen thus far Billhttp://www.blogger.com/profile/09245102097027244729noreply@blogger.com1tag:blogger.com,1999:blog-16693951.post-1139858903256569412006-02-13T12:22:00.000-07:002006-02-15T14:21:42.293-07:00We're Back And Ready To Rock n RollThank you everyone for your patience. I have been gone for a few weeks due to a work deadline that kept me focused on that project. Now that it is out of the way it is full speed ahead.I am presently working on getting statistics added to the site to track home inventory, interest rates, unemployment info, and foreclosures for Colorado. This is the feature most Billhttp://www.blogger.com/profile/09245102097027244729noreply@blogger.com0tag:blogger.com,1999:blog-16693951.post-1138829204577775822006-02-01T14:07:00.000-07:002006-02-01T14:30:05.536-07:00Debt Avalanche Will Stay LocalMy initial goal with this blog was to provide assistance for homeowners nationwide who are struggling with their debt. Specifically, homeowners whose budgets have been stretched thin by mortgage and credit card debt.My goal in January was to put up some initial content while deciding which direction this blog should go. After listening to reader feedback and Billhttp://www.blogger.com/profile/09245102097027244729noreply@blogger.com0tag:blogger.com,1999:blog-16693951.post-1138133523066708312006-01-24T12:51:00.000-07:002006-01-25T15:41:45.210-07:00Time To Pull Out Those Mortgage Closing DocumentsEspecially if you are presently in an adjustable rate (ARM) loan or other 'creative' mortgage product.With mortgage rates on the rise you had better know if, when, and by how much your interest rate may be increasing. Like most people perhaps your memory of exactly what the terms were at closing are a little foggy. After all, 45 minutes of signing Billhttp://www.blogger.com/profile/09245102097027244729noreply@blogger.com0tag:blogger.com,1999:blog-16693951.post-1138048970775092672006-01-23T13:15:00.000-07:002006-02-15T13:26:49.306-07:00Debt Warning SignsDoes your debt load have you considering credit counseling? Bankrate.com lists fifteen warning signs that your debt may be getting away from you.-"Your credit card balances are rising while your income is decreasing."-"You are only paying the minimum amounts required on your accounts, or maybe even lessthan the minimums."-"You're juggling bills. For example, you apply for Billhttp://www.blogger.com/profile/09245102097027244729noreply@blogger.com0tag:blogger.com,1999:blog-16693951.post-1137787596015943192006-01-20T12:28:00.000-07:002006-02-15T13:20:04.300-07:00Curing Credit Card HangoverHave your dreaded January credit card statements left you reeling? Consumer correspondent Elisabeth Leamy lists her strategies to cure your credit hangover."Cut up all your credit cardsCredit cards give us a sense of possibility that we just don't have with cash. Just as an alcoholic can't drink a drop without relapsing, a credit card junkie shouldn't have any credit Billhttp://www.blogger.com/profile/09245102097027244729noreply@blogger.com0tag:blogger.com,1999:blog-16693951.post-1137100719528980082006-01-12T13:53:00.000-07:002006-01-17T17:35:19.546-07:00Here Comes The Holiday Bills!Carmen Wong Ulrich, author of "Generation Debt", checked in with CNNMoney.com to discuss those dreaded holiday bills coming due."All that seasonal indulging is showing up right now in the form of bulging waistlines and credit card balances. We can't help you get your weight back in line -- but we can show you how to trim that post-holiday debt with this easy 4-step Billhttp://www.blogger.com/profile/09245102097027244729noreply@blogger.com1tag:blogger.com,1999:blog-16693951.post-1137013631355417612006-01-11T13:21:00.000-07:002006-01-17T17:35:54.626-07:00The Truth About Credit Counseling ServicesMany people these days turn to credit counseling agencies for help with their snowballing debt. But is it a good idea or just another consumer scam?Liz Pulliam Weston at MSN Money analyzes this topic. "The best credit counseling can help people who are behind on their debts get back on their feet. Fly-by-night outfits can disappear with your money, and Billhttp://www.blogger.com/profile/09245102097027244729noreply@blogger.com0tag:blogger.com,1999:blog-16693951.post-1136926987282646002006-01-10T13:13:00.000-07:002006-01-17T17:36:28.906-07:00Credit Card Companies Can Now Double Your PaymentsA recent report from Bankrate.com explained the reasons for the new policy. "Over the past few years, low minimum payback rates of between 2 and 2.5% have encouraged Americans to spend, spend, spend -- and to rack up an average credit card debt of close to $10,000 per household. For the estimated 40% of cardholders who carry a balance from month Billhttp://www.blogger.com/profile/09245102097027244729noreply@blogger.com0tag:blogger.com,1999:blog-16693951.post-1136836026178414782006-01-09T12:17:00.000-07:002006-01-17T17:39:33.940-07:00Welcome everyone. We are off and running.This blog will act as on open forum in which we will share news, strategies, and information on managing personal debt that has become seemingly unmanageable. There is no limit to information out there on this subject in print and in cyberspace - some good and some disastrous. We will explore and debate the right ways to dig yourself out of debt.With Billhttp://www.blogger.com/profile/09245102097027244729noreply@blogger.com2