Keep Your Home Out of Trouble...
I was reading the Sunday paper and couldn't believe the growing number of foreclosures that are taking place in Wisconsin. As reported in the Milwaukee Journal/Sentinel, Sunday August 20th, 2006, foreclosures are up in Wisconsin 62% in June and 36% in July compared to 2005 data. Why is this happening?
First of all, many people have been steered in the wrong direction and put into Interest Only Adjustable Rate Mortgages(ARMs), Negative Amortization Mortgages and Standard Adjustable Rate Mortgages(ARMs) without having a bonafide plan on how to control the mortgage in the future. That is why it is so important to work with a Mortgage Professional you trust that is credible.
Foreclosures have gone through the roof because most people were not prepared for their payments to go up. Imagine how it would effect you if your payments went up $100, $200 or $300 per month. I have a feeling I know what the answer would be.
My question is "Why do people let it get so bad?" I don't understand why someone who is in financial difficulties wouldn't ask for help. Maybe they are embarrassed, maybe they don't know who to turn to, or maybe they think they can't be helped??? Scary thoughts. Heck, worst case scenario sell the house!
That is why I stress to all of my clients to call me for ANY financial situation. Being late on your mortgage or other bills will destroy your credit and ability to get low interest financing. Worse yet, ignoring the problem will not make it go away. It will only make it worse.
If you know anyone in this situation please tell them to call their creditors and explain they need some help to get back on track. Work out a payment program to get caught up. Refinance the debt. Just do something. If they don't know what to do have them call me. I have been helping people with financial difficulties for quite some time now. Homeowners and renters. It is my way of giving back. For those of you who know me know these people would be in good hands.
Be the Good Samaritan and forward this article on to someone who needs it. Or better yet, tell them to call me and mention your name. They will thank you. Until next time... -Kevin
First of all, many people have been steered in the wrong direction and put into Interest Only Adjustable Rate Mortgages(ARMs), Negative Amortization Mortgages and Standard Adjustable Rate Mortgages(ARMs) without having a bonafide plan on how to control the mortgage in the future. That is why it is so important to work with a Mortgage Professional you trust that is credible.
Foreclosures have gone through the roof because most people were not prepared for their payments to go up. Imagine how it would effect you if your payments went up $100, $200 or $300 per month. I have a feeling I know what the answer would be.
My question is "Why do people let it get so bad?" I don't understand why someone who is in financial difficulties wouldn't ask for help. Maybe they are embarrassed, maybe they don't know who to turn to, or maybe they think they can't be helped??? Scary thoughts. Heck, worst case scenario sell the house!
That is why I stress to all of my clients to call me for ANY financial situation. Being late on your mortgage or other bills will destroy your credit and ability to get low interest financing. Worse yet, ignoring the problem will not make it go away. It will only make it worse.
If you know anyone in this situation please tell them to call their creditors and explain they need some help to get back on track. Work out a payment program to get caught up. Refinance the debt. Just do something. If they don't know what to do have them call me. I have been helping people with financial difficulties for quite some time now. Homeowners and renters. It is my way of giving back. For those of you who know me know these people would be in good hands.
Be the Good Samaritan and forward this article on to someone who needs it. Or better yet, tell them to call me and mention your name. They will thank you. Until next time... -Kevin
posted by Kevin Kowalke @ 8/20/2006 09:47:00 PM
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