A necessary item of baby furniture that every parent will require when their baby gets to the age of six months old is a high chair. Having a high chair for your baby means that your baby can sit at the dinner table with the family while you are eating and you can also use this high chair to place the baby in while you are cooking this meal.

Since these chairs were first introduced to the market, they have undergone great improvements and are available in various varieties. However, whichever type of chair you buy, you have to make sure it is safe to use by keeping these safety features in mind.

• The high chair should have a bar that fits between your baby’s legs so that the baby will not slip underneath the tray and there should also be a strong harness to keep your child secure in the chair.

• The high chair you buy should be strong enough to hold your baby.

• Check the strength of the chair by giving it a good shake. The high chair should be sturdy enough to not topple over if your baby started to jig about.

• The high chair should have a wide base with a low center of gravity so that the chances of your baby slipping off the chair are minimal.

• Having strong, durable straps is very important; you have to ensure that these straps also have a crotch strap. A chair that comes with a five point harness with shoulder straps is the best one to buy.

• You might want to choose a high chair that comes with wheels as they are handy when it comes to moving the chair from one room to another, but you must make sure there are locks on these wheels. Another thing to check is that the wheels run smoothly when the lock is off.

You can get on with feeding your baby if you make sure that the above safety features are included in the high chair that you buy.

As most moms and dads know only too well, giving birth is an highly-priced business. When the newborn child makes the decision it is time to pop into the world, the bank balance well and truly opens for a whole host of products, including portable high chairs and their accessories. Ensure that you think about one of the very best brands in baby accessory makers, like Fisher Price booster seats. Several alternative products you should really look at for the child include Chicco high chairs.

Moving your home, family and belongings is often an exciting experience. However, without preparing adequately  an interstate or an international relocation can be very difficult as you try to remember all the jobs you need to do. Experienced removalists can ensure that your move will be well managed with fewer unexpected issues. Here are some areas that you might think about in preparing to move your home.

Your Pre-move Consultation
Choose a removals company that will give you an obligation free pre-move consultation. All the services they offer and the process of moving can be explained and they will help you prepare and plan your entire move.

• Packing
• Transportation and storage options
• Special requirements for pets, vehicles and fragile items
• Insurance transit protection
• Keeping track of your belongings

Your consultant will help you choose the service delivery that will satisfy your requirements, explain what to expect when you arrive at your new destination and answer all of your questions. At the same time, you can choose and schedule your packing and loading day(s).

Learning About Your Destination
When first considering moving, particularly if you are moving internationally, there are many questions that you will need to answer. International or interstate removalists  that have a global presence often have an in depth range of services that can help you find out about the place you are moving to.

• “Settling-In Tips” give useful advice from relocation companies that have staff living in different cities around the world, including information about transportation, schools, shopping, accommodation, banking and much more. You should take advantage of local knowledge in preparing to understand about and then settle into your new location.
• Make sure that you have access to a professional relocation management team that is available to answer your questions and help you with every step of the relocation.
• Moving to a new place can be especially stressful for children, and a globalremovalist can have an extensive program to help children and parents through the transition. Specific children’s programs helps children learn all about different cities and the overall moving process.

 
Your Packing Day
On the day that your belongings are to be packed, make sure that you confirm with the packing team leader or supervisor the exact details and processes for the day. Ensure that you have access to important items during your relocation and set aside important documents, clothing, toiletries and other essentials. Isolate particular things you will need and tell your packing supervisor not to pack them. Leaving them “off-site” is a way to be certain no items are mistakenly packed.

Color Locator System
Using a colour locator system is a great way to make sure everything is organised and packed properly. The packing crew will then apply colored stickers to the cartons as they are being packed. They then match cartons with rooms. Color-coded cards, hung on doors at your new home, are matched to like-colored stickers on cartons, simplifying the delivery and unpacking process.

Packing Inventory Sheet
As your personal goods are carefully wrapped and packed, your supervisor will note each item on a “Packing Inventory Sheet.” Once all items have been removed from your home, packed and loaded into the moving van, they will be numbered and will appear on the packing inventory list. This inventory is a working document from your previous home to your new location.

Transportation Protection
Your relocations consultant should explain all of your transit insurance options and answer any questions you have. Make sure that you know which insurance company underwrites the policy and that it is a reputable company. The policy you choose should offer full replacement cost coverage on a door-to-door, all-risks basis.

To ensure that your insurance coverage is in effect when your removal services begin, sign all the papers and give them back to your removalists prior to your packing day.

Choosing a Shipping Method
Shipping by sea is an economical mode of transport that works well for most customers. Sea options include a number of methods:

• The Liftvan Method is loaded at your residence and liftvans are placed directly into containers. This method is perfect for those requiring storage or those with less than a full container load.
• Direct Container Method is when your belongings are loaded into your own secure sea container. This method can be a cost-effective way to send larger volumes.
• Groupage Method consolidates your shipment with others and you save money, though you’ll need to be flexible in the timing of your delivery.

Air shipping will get your goods to their destination quicker, but usually is expensive. For very small shipments, air shipments can offer better value.

When moving interstate or internationally to a location accessible by land, land shipments are a good option. Your belongings travel in specially-designed trucks or in rail containers.

Track Your Shipment Online
A global relocations company can link all its facilities by a common communications and operating network. This means that before you arrive at your new destination, the local office will already have up-to-date information on your relocation. At the same time, you can track your shipment in real-time using any computer with internet access through your own secure login to the removalists’ website.

Quality Management Program
Whether your items are shipped by sea, air or by land, your removalists should be able to assure you that your personal belongings will be handled with the utmost care. Ask about their commitment to quality and what they do to maintain and increase the standard of their service.

An experienced relocations company can leverage its well-established knowledge and set standards of customer service that will differentiate it from other removalists and benefit you.

Receiving Your Personal Belongings
When you arrive in your new city, you should contact the local removalists’ office. It is much better to deal with a single company if moving interstate or internationally as they take full and complete responsibility from beginning to end. Having a third party, or your removalists agent may not  give you the confidence you need to have about your belongings. They should be able to quickly tell you:

• the delivery date and status of your shipment
• which items will go into local storage
• details of your pet’s transfer
• orientation tours and other relocation services

Make sure that you tell your consultant before you move whether access to your new home is difficult, so the unpacking crew will be well prepared for the delivery.

Relocation Services
Taking an overseas assignment can be very exciting. However, it quickly becomes clear that changes have to be made when living in a foreign country. Are you going to live close to the office or amenities? If you have a partner with you, what will they do when you are working? Without knowing the language of a place, simple things like finding the grocery store can be difficult. Reputable international moving companies can arrange services to ease this transition—from the moment you step off the plane to the time you’re ready to pack and return home. They understand the challenges you face as a newcomer. In fact for many international removalists, a significant number of employees are an expatriate living and working outside their home country. They can help you ease into your new location by:

• Greeting you at the airport.
• Finding a home for your family.
• Finding a suitable school for your children.
• Showing you the community resources your new city offers.
• Getting a driver’s license or social security card.
• Helping you open a bank account. Arranging a rental car.
• Providing networking opportunities.
• Searching for partner employment.
• Familiarizing you and your family with the local culture and language.

So, if you are relocating your family, whether it is for yourself looking for a new life in a new location or it is a corporate relocation, there are many things to consider. Choosing the right international or interstate corporate relocations companies is the first and most important step to take. Consider all your needs, speak to and meet with removalists that are willing to come to your home and discuss your needs. As you progress, you will find that to manage your move successfully you need more than removalists that can pack and unpack your belongings. A successful relocation is much more than that and your preparation will ensure that you move successfully with as little stress as possible.

I’ve never worked with a client yet who didn’t feel pressured by too much to do and not enough time. This week is National Take Back Your Time Week, an initiative that’s being pushed in both the United States and Canada. Tuesday (January 25th) is Better Business Communications Day, too. Seems to me that these two are related, so this week I thought I’d offer a few tips for entrepreneurs who need to gain control over their time, and how that can be helped by practicing better business communications.

Let’s start with the thorny issue of having too much to do and not enough time. You have exactly two ways to help the issue resolve, and here they are:

1. Quit doing things for yourself, family, friends, and strangers that don’t serve you or them well. This means that you are willing to take a hard look at what you are doing that takes both your time and energy but doesn’t change things for the better. You believe that you must insert yourself into many situations that don’t require you. You may, in fact, be hiding out doing things that don’t serve yourself or others very well but keep you from doing the things you must do to build your business. If you are one of those moms who are still doing the laundry all by yourself and everyone in your household is over 10 years old, you just might need to quit being such a domestic goddess. If the neighbor next door requires half an hour on the phone each day to complain about her husband, you just might need to quit being that listening ear. You get the idea. Sit yourself down and give yourself a talk that includes this sentence. “The world will not stop if I quit serving others inways that waste my time and keep others from building their own capabilities to be independent.”

2. Quit doing everything yourself inside your business and personal life. This means that you are willing to dig around in your psyche and figure out why you think you must attempt to control every single thing in and around you. It also means you must disabuse yourself of the idea that no one else can do it sufficiently. (Notice I did not say perfectly. Sufficient is, well, sufficient.) If you are a business owner who still does your own bookkeeping, this might be where you are creating suffering about time and the lack thereof. If you won’t let go of ordering supplies the same thing applies. Sit yourself down and give yourself a talk that includes this sentence. “I cannot do everything myself and I am being too controlling, unwilling to let go and delegate to others. I do this out of fear of failure, fear of not being perfect, and fear of feeling out of control.” Start believing in yourself and your business so that you come to understand that your time is valuable, and you are wasting it when you do tasks that don’t directly contribute to the growth of your business.

Now, let’s get to the Better Business Communications Day, which is being celebrated on Tuesday this week. Here are two ways to communicate that will bring you less conflict, better understanding, and, in the end, a better chance to increase your business. 1. Watch your tone. People want to be treated with respect. You can tell someone what you want them to do using a friendly, respectful tone and I guarantee you a greater percentage of what you say will be heard and acted upon.

2. Communicate often and let the people you interact with have a glimpse of your big vision. If you communicate only a big to-do list rather than a big vision, the people who work around you won’t be able to support your big vision for your business, because they won’t see where that to-do list is going. So, rather than saying “this week you’ve absolutely got to catch up on the bookkeeping” you can say, respectfully, “Our business bookkeeping has fallen behind by nearly a month. I can’t get a clear idea about our cash flow without up to the minute books, so I don’t know if we can afford to buy that new copier you’ve asked me about. Can you catch the books up by noon on Wednesday? If so, let’s have a brief meeting at 2:00 that day to see what the books say and I’ll decide if we can get the new copier.”

You can take back your time and communicate about your business better all in one fell swoop. That’s getting two things done at once, which seems like a great way to save time to me!

When homeowners fall behind in their payments, it is often the mortgage servicing company that initiates the foreclosure proceedings. While some borrowers have been successful defending their home due to the servicer or lender being unable to prove it holds the original note, not many people at all are aware of the fact that there are often three servicing companies involved in a foreclosure action.

The first servicer is called the master servicer, and homeowners may never know who it is or have much contact with the company. However, its role is to oversee all of the other servicing operations and companies that will be involved in the mortgage or any foreclosure proceedings.

It is the subservicer that the homeowners will have the most contact with during the time they are making payments on the mortgage. The subservicing company is the institution that collects payments from borrowers and maintains the escrow accounts for paying property taxes and homeowners insurance. If the subservicer does not take care of some of these services in-house, they may contract with tax service professionals and insurance companies, among other.

The third type of servicer is called a special servicer and is typically involved only when homeowners fall behind. After sixty days of late payments, the special servicer may begin loss mitigation attempts or just begin the foreclosure process. Again, this servicing company may contract out some of its functions, including loss mitigation, property inspection, or hiring local attorneys to foreclose on the house.

With all of the allegations of mortgage servicing fraud over the years, including misplacing on time payments, forced placed insurance, underfunding escrow accounts, making late property tax payments, and lying in court to cover up such activities, can anyone really trust these companies? They act like glorified collection agencies in harassing borrowers and actually make more money from defaulted loans.

Mortgage servicing companies are generally paid a flat fee based on the borrowers’ monthly payments, usually 0.5% of all payments collected. But they are given a huge incentive to take advantage of unsuspecting homeowners because they retain 100% of any late payment charges or other fees. So the servicer has no incentive to help homeowners and make sure they pay on time or keep accurate records.

However, the companies have every incentive to “lose” payments and tack on a late fee. They have every incentive to put forced insurance on a home through an affiliated company, raise the monthly payment, and charge fees. They have every incentive to underfund escrow accounts, take money from the regular monthly payment to make up the shortfall at tax time, and then slap on a late charge to the account.

Servicing companies can provide a valuable service in the mortgage market by making it easier for lenders to engage in other business than collecting payments and administering accounts. But when these companies are given huge incentives to treat homeowners like deadbeats or turn them into foreclosure victims, one has to wonder what side the banks that hire these companies and agree to these terms are on.
Homeowners interested in loan modification, foreclosure refinancing, deed in lieu, and other options to avoid foreclosure can find all the information they need by visiting Nick’s ForeclosureFish website. Visit the site while you still have time to figure out a solution to save your home before the bank has it sold out from under you at a foreclosure auction. Hundreds of articles of information, options, and general advice can be researched at the website, which can be located here: http://www.foreclosurefish.com/

Your Certified OFFICIAL Report

“How To stop foreclosure in it’s Tracks…”

By Allan Hennessey

“PRODUCE THE NOTE”/”DISPUTE THE DEBT”

-Updated for 2009

“Virtually all of the mortgages in the United States today are Invalid, and Unenforceable…” Neil Garfield, Esq.

Today, Americans are faced with the reality of their “American Dream” currently converting to the “American Nightmare.” Many wonder why foreclosures are far above record highs, and what the causes are.

What is causing all of the foreclosures?

The TOP 10 FACTS are plain and simple:

1. Your mortgage currently more than likely does not currently reflect the terms you originally signed and agreed to.

2. The party you pay your payments to MORE THAN LIKELY does NOT Own your Note.

3. Your Original Documents have more than likely been destroyed intentionally or otherwise.

4. Original Documents are REQUIRED for Foreclosure to verify Validity and Authenticity.

5. Every time a Mortgage is transferred, documents are required, same as a car, house, or any other asset.

6. There exists RAMPANT FRAUD in the business of Real Estate, Mortgage, and Wall Street Securities.

7. The courts have upheld that a Deed of Trust and a Mortgage Note CANNOT be traded or sold separately.

8. Most Mortgage Notes, have been sold or traded separately from their Deed of Trust(power of sale).

9. Originating Lenders and Brokers of Mortgages are out of business, leaving no trail of documents to verify.

10. Most banks and parties conducting Foreclosures are NOT Authorized by law to do so, and can be beat!

Countless Homeowners have fought back against these parties conducting unlawful foreclosures and have kept their home! Not by negotiating with a party that does NOT want to negotiate, but by demanding their right to continue to OWN their HOME.

While many “Lenders” claim they do NOT want you home, their actions indicate otherwise.

The more you investigate, the more you will realize this to be true.

In this report we will address many of these issues. It is important to first recognize that this work has been compiled by experts in the Real Estate, Mortgage Finance, Banking, and Legal fields. Nothing in this report is speculation, and all information can and should be confirmed for accuracy by its readers.

Our media currently gives great attention to the problems at hand, but they do not spell it out… There are many theories on how to Stop a Foreclosure… “Produce the Note,” “Dispute the Debt,” to name just a few. While many will not be able to fully comprehend the details we have to offer on the subject, know that it is important for you to have an understanding of the subject, before we offer to refer you to an expert, that has a plan to help you save your home. Lets talk about some history before we get into these strategies.

It is first important for our readers to understand that mortgages changed significantly after 2001 with the advent of Mortgage Securitization. No longer did a Bank make a loan to a Homeowner with the intent to hold that loan as an asset in a “portfolio.” With Mortgage Securitization, loans were pooled together in bundles, and blended together to make a more uniform performance to the pools investors.

For example, if you were to take your mortgage, and that of 1000’s of others, and blend them together in a Blender on “frappe”, you would end up with an unidentifiable mess of assets where you can no longer determine the details of any longer. Instead is a “Mortgage Backed Security” that can be bought and sold separately from the individual mortgage itself. The payments of this milkshake are then assigned to a “servicer” that acts as nothing more than a collection agent. At the same time that the “servicer” accepts this agreement for receivables, they accept a separate agreement to payout liabilities to different parties.

The resulting effect is that the loan can no longer be distinguishable from others, when attempting to ascertain the original terms of the loan, and the “TRUE OWNER IN DUE COURSE” of the Mortgage Note.

Once Securitized, the bits and pieces of the loan can then be traded, sold, insured against, and in the process, making it near impossible for anyone (including the homeowner) to determine who Owns the Debt, and who is authorized to negotiate that debt.

Many folks still remember the “good ol’ days” prior to 2001, when banks would actually work with the Homeowner to continue to keep the Homeowner in that home. The banks would do this because it was in their best interest to keep that debt “performing”(continuing payments). Currently, Servicers claim an inability to re-negotiate the terms of the loan, and allow automated foreclosure processes to continue. The servicers cannot modify the terms of the loan because they do not OWN THE NOTE, and they are not authorized to make modifications to the terms. Homeowners continue to maintain “Hope” in keeping their home, when by design, the Servicers have NO interest in keeping a homeowner in their home.

It is important to note at this point, that many of the unidentifiable “TRUE OWNERS and Holders in Due Course” of the Note are Pension Funds, 401k’s, Hedge Funds, Mutual Funds, IRA’s, etc… These funds are administrated normally by a “trustee”. This is truly just a designation for the person/entity that controls the affairs of the fund. In many cases, this is a nameless, faceless entity, that has no contact information, and in many cases, due to the financial shake-ups in recent years, is OUT-OF-BUSINESS.

In other cases, there were losses already incurred by these parties due to these facts, and in many cases, the security itself has been written off as a complete loss. Many of these instances of loss were made whole by insurance policies in place against these sorts of losses. (Anyone wondering why AIG has been bailed out by the feds to the tune of $200 Billion so far and counting?)

Click Here to Order NOW for only $97

1. Your mortgage currently does not reflect the terms you originally signed and agreed to.

Due to securitization, the terms of your loan, as being enforced currently, have been modified without your permission. In many cases, homeowners have been charged fees not authorized by original terms of mortgage.

2. The party you pay your payments to MORE THAN LIKELY does NOT Own your Note.

When a loan is securitized, the Note is destroyed and the deed of trust is given to another party. The payments are assigned to a third party(servicer). This is who you make your payments to.

3. Your Original Documents have more than likely been destroyed intentionally or otherwise.

In the Digital Age that we live in, storage fees for 1000’s of physical mortgage documents that can be 1000’s of pages each can expensive, when compared to digital storage. Due to this fact, most mortgage documents are scanned and destroyed by the original lender. Other times, they are lost, or destroyed intentionally where parties have collected on claims of insurance policies in effect to cover against such losses. Most mortgage documents are just not available.

4. Original Documents are REQUIRED in Foreclosure as sole method to verify Validity and Authenticity.

Courts in Federal and State Jurisdictions have upheld that Original Documents must be provided in order to validate and authenticate the claims, when disputed by any of the parties involved.

5. Every time a Mortgage is transferred, documents are required, same as a car, house, or any other asset.

In some cases, Original documents are available to confirm the existence of the debt, however if the debt was sold, transferred, or collateralized with other pools of loans, there must be determined if there are any other claims or parties that may have claims, prior to any Foreclosure being complete. There must be a proper chain of ownership in order to confirm the claims of the parties involved.

6. There exists RAMPANT FRAUD in the bubbles of Real Estate, Mortgage, and Wall Street Securities.

From Real Estate valuation, to the sales terms, mortgage terms, and documentation, to underwriting, there are countless examples of negligence, fraud, deceptive practices, predatory lending and many other crimes that have equally countless victims. Many of these victims are seemingly unaware of these crimes, and are losing their homes en masse. Wall Street has only been the conduit for the Real Estate industry bubble created from 2001-2007.

7. The courts have upheld that a Deed of Trust and a Mortgage Note CANNOT be traded or sold separately.

Federal and State Courts have upheld that the power of sale, cannot be conferred separately from the ownership of the debt itself. Most Foreclosures are conducted by a “trustee,” who has been instructed by to do so by parties that do not own the Note/Debt itself.

8. Most Mortgage Notes, have been sold or traded separately from their Deed of Trust(power of sale).

This is true for a far majority of Mortgage Loans in the United States. If your Mortgage happens to be one of those that has been held as a “Portfolio loan”, and has not been securitized or sold, there are many other claims that you may have to defend against Foreclosure including but not limited to items listed in #6 above.

9. Originating Lenders and Brokers of Mortgages are out of business, leaving no trail of documents to verify.

It is true, as many know, that upon the bursting of this “bubble” in the summer of 2007, more than 300 lenders shut their doors quickly over a 3 month period, destroying their records, documents, and papertrails. In many cases this leaves a cloud of doubt over the title and the true ownership of the debt that should be disputed for clarification.

10. Most banks and parties conducting Foreclosures are NOT Authorized by law to do so,

and can be beat at their own game by disputing the validity of the debt!

It is true! Countless Homeowners are currently disputing their Foreclosures, and are remaining in their homes as a result! It is important to understand… THIS IS NOT A STALL TACTIC. In the process of disputing the foreclosure, many homeowners have ended up with the Title to their property FREE AND CLEAR by Court Order! Not every homeowner results in this outcome, however many Homeowners are able to negotiate with the court acceptable terms that are affordable in the long term, to remain in their homes.

FIND OUT NOW HOW TO GET THIS PROCESS STARTED!
Get the tools necessary to Defend YOUR HOME!
ORDER THE STOP FORECLOSURE TOOLBOX for only $97!
Click Here to Order NOW

The TOOLBOX will be delivered to your email address immediately!
For a PRINTED PAPER COPY please Call 1-800-552-9313 Press 1

The Stop Foreclosure Toolbox provides the tools and information necessary to Fight against Foreclosure, and protect your property.

The Stop Foreclosure Toolbox provides step-by-step instructions on:

Where to start?
Knowing what to look for in your Loan Documents
How to find an attorney or professional that understands these concepts
How to STOP FORECLOSURE on YOUR HOME IMMEDIATELY!
Force the Lender to negotiate with you to keep your home!

Click Here to Order NOW for only $97

Toll Free 24 Hr Recorded Information

CALL 1-800-552-9313 Press 123

For informational and educational use only. Please consult with trusted counsel for all legal situations.

When a foreclosure is finished and the home is sold or assessed by an appraisal, for the loss on the mortgage, the deficit amount the bank will not get back from the mortgage balance and expenses due, is called a deficiency. In most states, the lender has an option to get a judgment in this amount against the borrower and this is called a “deficiency judgment”. In addition to the loss of the homeowner’s home he also has the potential of having to repay this judgment in the future.

Even if the bank accepts a “deed in lieu of foreclosure” they can still get a deficiency judgment against the borrower. The borrower is the one responsible for the mortgage or deed of trust payments and he may or may not be the homeowner. If the homeowner has a co-signer, the co-signer will be as legally responsible as the borrower to pay back the deficit due. Depending on whether the foreclosure is judicial or non-judicial, and the specific terms of the mortgage, the bank may not be able to seek a deficiency judgment. These laws vary state-by-state and should be reviewed carefully to determine which applies to the reader.

The bank doesn’t just have the amount of the unpaid loan balance due but also legal fees, accelerated interest payments, back principal payments, in some cases pre-payment penalties, and other expenses as part of the judgment amount. This is why a homeowner who has had his mortgage a couple of years could owe more than he borrowed originally. As an example, the homeowner borrowed $200,000 in June of 2006 and in January of 2008 he goes into foreclosure and the final judgment against him could be $218,000! This is because of the additional expenses and the fact that he pays mostly interest in the first 10 years of his mortgage.

The largest loss the lender has is his loss of the ability to loan about 7 – 10 times the unpaid mortgage balance. This is because the Federal Reserve requires the banks to put cash into a non-interest bearing account to cover potential losses. Since the bank can no longer use these funds to get additional loans from the Fed, he is losing tremendous loan power. This loss of revenue to the lender can not be passed on to the homeowner or borrower.

The major factors in deciding whether the lender will pursue a deficiency judgment are whether the lender feels he can collect the judgment and the cost to collect it. In the process of working with the homeowner, the lender pulls his credit and can see what other outstanding bills he has and whether they are being paid timely. The lender can not see what assets the homeowner has but can sometimes see where he works. The homeowner will be asked to fill out a Net Worth Statement (“NWS”) which will disclose these assets to the lender. This document is a major part of the decision to pursue the judgment or not. If the lender has no reason to believe the homeowner has extensive assets, they will issue the IRS Form instead. A note of caution – falsifying the NWS can be bank fraud in some states so be careful if you intend to return the NWS to the lender.

The deficiency judgment is determined by the court-approved “Final Judgment” amount in most states. However, in some states, the property must be sold or an appraisal done to determine the “expected” net loss. If your state does this procedure by appraisal, contest the appraisal and have the judgment lowered if you believe it was not correct.

The lender usually chooses not to get a deficiency judgment and instead report the loan deficiency amount on IRS Form 1099. The result to the homeowner is a “phantom income” requires him to pay income taxes on this amount. In this situation the final cost of the guarantor’s foreclosure is the amount of income taxes he pays the IRS instead of the entire deficiency judgment. This is a substantial savings to the homeowner and the lender also benefits because there is no collection on his books that is counted as a liability. Unless there is suspicion of fraud in the original loan, the lender will issue a 1099. In December of 2007 legislation was enacted that allows a maximum exemption amount a homeowner who resides in his property can write off for this deficiency amount.

Carefully weigh your rights and options when you make a decision to allow your home to be lost to foreclosure, as there are solutions besides foreclosure and deed transfer to the lender. Do not be paralyzed with fear that the lender will follow you forever to collect the deficiency judgment, as you have a number of options to fight this including attacking the validity of the original loan.

As a first time home buyer, you need to understand the mechanics of a good mortgage. If you’ve been looking for an article that helps with this, you have come to the right place.

In this article we’ll discuss the mortgage process and how you can decide which product is best for you. There will be two primary things you will learn. First we will look at how mortgages work and then discuss the pros and cons of fixed rate mortgages versus the adjustable mortgage.

Understanding How Mortgages Work

It’s kind of funny how people look at mortgages. We say “I need to get a mortgage from the bank”. Actually you cannot get a mortgage, you will give a mortgage or pledge a mortgage to a lender. Does this mean you are the bank or what?? Not really, it’s matter of understanding the proper terminology.

When you buy a home, you sign a ton of documents. I often said when I was closing mortgages that a few trees were sacrificed for this since it involves so much paper work. There are two very important documents in this stack of papers. One is the “note” and the other is the “mortgage”.

The note is your IOU which states you owe a debt to the lender and promise to repay. The mortgage is the legal document that secures the note.

So you want to look at it this way: When a bank loans you money to buy a home, you “give” or “pledge” a mortgage to the bank. The bank will hold this mortgage as a legal claim in case you default and stop making payments on the note. It’s kind of a guarantee you will live up to the terms on the note you signed. So in other words, if you don’t pay, you don’t stay. The bank will force a foreclosure on you and take back the house.

Pros and Cons of Fixed Rate Mortgages

In the mortgage industry, the fixed rate loan has been labeled as the “vanilla loan” because there is nothing fancy about it. It has a set rate of interest and you will know what your principal and interest payment will be for the entire term of the mortgage. There are 10, 15, 20 and 30 year fixed rate mortgages out there.

The biggest advantage of the fixed rate loan is the fact you have permanently locked into a mortgage payment that you can count on never changing. This helps to eliminate any surprises for later, like when interest rates go up. If that happens, your payment stays the same.

Personally, I believe the fixed rate mortgage is the best choice for first time home buyers. You can budget your payment this way and plan for your future. Keep in mind I did not talk about taxes and insurance which are the other part of your payment. If you used the minimum down payment (3.5% for FHA) then you will be forced to escrow your taxes and home owners insurance. This part of your payment can fluctuate each year.

Adjustable Rate Mortgages – Are They Right For You?

Unlike their cousin the fixed rate mortgage, the name of this loan product implies that it features a variable interest rate. These rates change or “reset” over time. Because of this, the principal and interest portion of your mortgage will change according to the terms of the note.

There is a whole variety of these ARMS (adjustable rate mortgages) out there. These ARM loans can adjust monthly, semi-annually or yearly. Banks have gotten real creative with these products.

Since the banks know that people like the security of a fixed rate mortgage, they make these ARMS look like one by setting the terms for them to reset the first time say 3, 5, 7 or 10 years after you get the mortgage. So a person could get used to the payment and then 3 years from now it goes up because of the way this loan is calculated.

The adjustable rate mortgage is based on a financial instrument like the 10, 15 or 30 year mortgage bond. In recent years, banks have based the ARM loan on the LIBOR index. This allows for more frequent changes since it moves up and down with market fluctuations. The LIBOR is a matter for a whole different article.

Conclusion of the Matter

The ARM loan works best for people who do not plan to own the house for a long period of time. Maybe you know that that your job may relocate you in 5 years. So an ARM loan with a 5 year period before it resets may be a good idea.

However, most first time home buyers are looking down the road more than 5 years. The fixed rate mortgage is the best idea for budgeting and just having a peace of mind. You can sleep well at night knowing your house payment is constant.

So, now you understand what a mortgage really is, and you have also learned the difference between a fixed rate mortgage and an ARM.

Senior Citizens have been badly hit by the foreclosure rage. Herman Boxerbaun is one of them. He is a septuagenarian residing in Vallejo and just cannot manage to make ends meet. Earlier this month he got a free meal from the local church and does not know anything more about the future.

Another victim is Vicki Conrad. She is 69 years old and has lost a good amount of her retirement funds when the stock markets tumbled. At present she is working in Florence Douglas Center but fears if she will have to go on working without any pause in sight.

Boxerbaun and Conrad are typical of what is happening to the elderly residents in Vallejo as also in the rest of the country.

The social service agencies in the county point to the lingering recession that is harassing the elderly who are hunting around for the very basics ? food and shelter. To make matters worse many are becoming victims of scams and other forms of abuse.

The impact of the housing crisis continues to unfold with new ugly surprises each day targeting the elderly. The slump in the stock market has wiped out retirement funds and now they have nothing but the slim social security cheques to depend on.

There are fears that things will take a turn for the worse when the state budgets will be snipped. Programmes for investigating abuse of elders that aim to see that the elders lead a healthy life in their twilight years will come to a halt. Previous snips in the budget have already told on the services that are becoming more skeletal.

Many of the elders in all probability will not live long enough to see there lost fortunes recoup from the recent stock market fall, commented Donna Fields of Solano County Older & Disabled Adult Services. She bemoaned, ?People work their whole lives and build up nest eggs to retire and this economy has just fooled everybody. People have lost homes and not gotten a good rate of return on (investments). They are struggling out there to make ends meet.?

What is most worrying that more numbers of seniors will become totally reliant on Social Security ? something that is insufficient on which to survive. The social security system itself is under great threat with its expenses becoming more than what it gets. Conrad explained, ?The biggest worry for this age group is their health care and what’s going to be in place for us.?

In today?s volatile real estate market, homeowners struggle to know where to turn for help with their most valuable possession: their home. The economy has left borrowers struggling to make their payments due to reduced or lost incomes, increased expenses, and even increasing monthly mortgage payments. Some have relied on credit cards to survive, others have had to liquidate retirement accounts, and everyone has had to live paycheck to paycheck. There is hope. There are always options available to avoid foreclosure, but whether or not they are affordable depends on your specific situation. All banks offer some type of workout, including reinstatement plans; forbearance plans; repayment plans; traditional loan modifications, and Treasury Department programs. The problem that most borrowers face is getting the bank to offer these to them, and knowing which options are going to be best to pursue.

Get Quick Results
Banks are getting increasingly hard to deal with. Any borrower that has tried to deal with the bank has experienced one or more of the following problems: excessive hold times; conflicting stories; repeated requests for the same documents; denials, and solutions that were more expensive than what the borrower started out with. Knowing what documents are required, knowing what departments to call, and knowing what people to talk to is most of the battle. A well done and complete loan modification packet will help ensure a speedy review process, and good results. Banks have testified to the government that they have trouble getting the necessary documents from the borrower, yet many people have lost their homes even though they complied with every request from the bank. The problem is that everything in the packet needs to be current for the negotiator to be able to work on the file. Knowing what the bank wants before they ask for it is the key to success.

Get Afforbable Payments
Getting approved for a permanent offer is difficult. Most borrowers do not realize it, but they can be denied because of one number being off on their financial statements. Unfortunately, the approval process for a loan modification is just like buying a new home. Underwriters and negotiators have to run waterfall tests and Net Present Value tests that only a few, select borrowers are going to successfully pass. Too much income can leave you with too high of a payment, too little can cause your application to be denied; even expenses need to be itemized a certain way depending on the bank. What borrowers may think is helping them, often ends up hurting them. The loan modification process is a juggling act between getting the payment that you want and getting something offered in the first place. Success in this regard is not always dependent on your financial situation; sometimes how you fill out the financial forms is the bottom line. Knowing what each bank is going to look at, based on their policies and your experience with them can be the difference because almost every bank varies in what they look for.

Stop the Trustee’s Sale
Once you stop making payments it is only a matter of time before the bank starts the foreclosure process. Soon after you stop making payments, the bank will hire a trustee company to handle the process. This hired company will be the one to send you a Notice of Default which is a 90 day opportunity to cure the mortgage default. Usually 3 months after the Notice of Default, you will receive a Notice of Trustee?s Sale. This notice is the 20 day warning that your home will be auctioned off. Working with the bank on a modification is often a strategy for postponing sale dates and buying time. Some borrowers have managed to stay in their home, payment free, for years because they knew how to handle it. Unfortunately, it can also be a way to lose the home accidentally. Many borrowers have had their home sell even though they were in review for a modification. Many have lost their home while on a forbearance plan, a repayment plan, or even on the trial period of the Treasury Department’s HAMP program. The real problem is that the bank may have the sale on hold, but forget to communicate that to the trustee company. It is important to keep tabs on your sale date and to contact the foreclosure attorneys to confirm that they know not to sell the home. Managing the trustee?s sale for your home is an important part of the loan modification process.

Keeping a Foreclosure From Being Recorded
If you are denied for a loan modification, you will want to short sale the property. Short sales are an agreement with the bank to sell the property for less then you owe and have far less effect on your credit then a non-judicial foreclosure. Managing the modification process well will leave you the opportunity to short sell the property before it goes to auction. The sad reality is that a lot of borrowers do not know when they are going to be denied and do not have enough time to work with the bank to avoid a foreclosure on their record. The home can often be sold within days of a denial letter and sometimes they are even sold before the borrower even knows something is wrong. Depending on the bank, there may be an opportunity to short sale the property if you manage it correctly. Beside the credit implications, a short sale can also keep you in the home for a few more months.

Foreclosure procedures are different in all 50 states. If you are concerned about the possibility of missing your loan payments, then you should look into your state’s United States foreclosure laws by state. Some of the many differences include lender notices that must be mailed or posted, redemption periods, and the scheduling and bank notices issued regarding the auctioning of the house. Below is a general understanding of the foreclosure timeline, but keep in mind the state where you reside will have its own laws. Few people think they will fall behind on payments and lose their home, they always think they have more time.Below is a general understanding of the foreclosure timeline. Note: Timelines vary by state.(Day 1 Late)1st mortgage payment missed – your mortgage lender will get hold of you by phone or mail and a late charge will be assessed, usually after the payments been late for more than 15 days. (Day 30 Late)2nd mortgage payment missed – your mortgage lender is going to start calling you to discuss why mortgage payments have not been made. It’s essential that homeowners take these phone calls. Talking to your mortgage lender and explaining your financial situation is absolutely critical to solving the problem. Now that your 1st mortgage payment is more than 30 days late and you will receive one 30 day late on your credit, which will in all honesty will crush your credit score. Even if you have established credit, a mortgage late is to be avoided at all cost. (Day 60 Late)3rd mortgage payment missed – once the 3rd payment is missed, you will receive a letter from you lender stating the amount you are delinquent, and that you have 30 days to bring the mortgage up-to-date. This is usually called either a demand letter or notice to accelerate. If you do not pay the determined amount or make some types of arrangements by the given date, the lender might start foreclosure proceedings. They’re unlikely to accept less than the total due without pre-existing arrangements being made if you receive this certified letter. You do however, still have time to work something out with your mortgage lender before the foreclosure process starts. (Day 90 Late)4th mortgage payment missed – you are now approaching the end of a timeline which was allowed in your demand or notice to accelerate letter. When the 30 days ends, if you still have not paid the full amount or worked our arrangements you’ll be directed to your lender’s attorney. You will also have to pay all attorney fees as part of your delinquency. Depending on where the home is located, the mortgage lender may record a formal notice of foreclosure at the local courthouse, publish details of the debt in the local newspaper, and attend hearings on the case.(Day 150 Late)Public Trustee’s or Sheriff’s Sale – Sale of the property will often be scheduled by the lenders attorney. This would be known as the day of foreclosure. You could be notified of the date by mail, a notice taped to your door, and/or the property sale may be advertised in a local paper. The time frame between the notice to accelerate or demand letter and the actual foreclosure sale vary by state. Some states may be as quick as 2-3 months although states do vary. At this point your move-out date is near. You have until the sale date to make arrangements with your mortgage lender, or pay the total amount owed, including attorney fees. The Redemption Period – Redemption is the period of time after your property has been sold at a Public Trustee’s or Sheriff’s Sale, but you can still reclaim your house. Paying the full outstanding mortgage balance and all costs incurred during the foreclosure process is the only way to reclaim your home during the redemption period. Many states do in fact have some sort of redemption period, availability is often determined by whether the foreclosure is judicial or non-judicial and procedures can vary greatly from state to state.Important: Staying in contact with your mortgage lender is your single best choice to have a chance of staying in your house and be very careful of the many companies promising loan modification for a large fee. All dates are estimated, and vary according to your state and your lending company. Types of ForeclosureThere are 3 types of foreclosures which could be initiated at this time: judicial, strict foreclosure and power of sale. All three types of foreclosure need public notices to be issued and all parties involved to be notified regarding the proceedings. Once homes are sold through an auction, families will only have a small amount of time to move out before the sheriff issues an eviction order.Judicial Foreclosure. Every state in the union permits this type of foreclosure, and some require it. The mortgage lender files suit with the judicial system, and the homeowner should then get a note by mail requiring payment. The borrower then has only 30 days to reply with a payment in order to avoid foreclosure. If the payment is not made after a certain period of time, the mortgaged property is then sold through an auction to the highest bidder, a sheriff’s office or local court will generally carry this out.Strict Foreclosure. A small number of states actually allow this type of foreclosure as it favors the lenders tremendously. In strict foreclosure proceedings, the lender files a lawsuit on borrower who has defaulted. If the borrower isn’t able to pay the mortgage within a specific timeline which is ordered by the court, the home goes directly back to the mortgage holder. Strict foreclosure generally takes place only when the debt amount is greater than the appraised value of the home.Power of Sale. This sort of foreclosure, also known as statutory foreclosure, is allowed by many states if the mortgage includes a power of sale clause. Once a borrower has defaulted on mortgage payments, the lender sends out notifications demanding payments. Once a recognized waiting period has passed, the lender instead of local courts or sheriff’s office carries out the public auction. Non-judicial foreclosure auctions are frequently more expedient, though they might be subject to judicial review to ensure the legality of the proceedings.
http://www.mortgagebreakdown.com