foreclosure overages
The government needs to give us the shovel to dig ourselves out from under the financial…?
…rubble. Do we really
need to throw more money at the problem?
I heard about a family in Arizona who’s raffling off their home. The catch is the homeowner must ally himself/herself to a charity. The homeowner receives enough money to cover the “appraised value” for his home while the charity keeps anything over this amount. If your appraised value is $100,000 and the raffle garners $300,000, the charity is donated the overage which in this case is $200,000. Not so great for the homeowner if he owes more than appraised value.
The law in Arizona needs to be changed to allow homeowners to raffle off their homes in order to avoid foreclosure either without the need to have a charity along for the ride or to give the charity a reasonable percentage of the profit after the mortgage is completely paid off.
Hey, I don’t have anything against charities but we are in the midst of a monumental crisis.
Stop the insanity by empowering not crippling the people.
What do you think?
Free Creative Ideas to Help Friends Facing Foreclosure or Bankruptcy
The 700 Billion bailout plan is not enough to help struggling American’s save homes currently facing foreclosure notices. In some instances a couple may be living paycheck to paycheck and one minor hiccup can derail the family finances. A hospitalization, a reduction in work hours, or increased expenses could mean the difference between shelter and homelessness. Many large institutions that are labeled “too big to fail” have the U.S. government to help when investments go bad, who can you turn to when you hit a rough spot in your family finances?
http://thepassivedad.com/2008/09/free-creative-ideas-to-help-friends-facing-foreclosure-or-bankruptcy/
Here are over 30 ideas to help those who are fighting foreclosure:
Talk to everyone that’s living in the house — you’re either in it together, or you all will be out of it.
Talk to your close friends and family for support (not the financial kind). This will also give them the opportunity to understand why you don’t go out with them as often, or can’t spend a lot of money on gifts.
Talk to your lender to see if they are willing to work restructure the loan or give you some options.
Try to refinance your home loan and ask if you qualify for FHA home loan.
Cancel services that you don’t need without paying unreasonable penalty:
Cable or satellite television.
Cell phone or home phone (I think you’ll need at least one). Here’s a good article on how to end your cell phone contract without paying penalty.
Magazine and newspaper subscriptions.
Gym and club memberships.
http://www.moolanomy.com/894/how-to-save-your-home-from-foreclosure/
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