It doesn't matter at this point just who is at fault. The administration is moving forward to remedy the situation, but it is to complex a problem to fix quickly. Let's address those who can really do something about your mortgage problem, you. If you are in trouble, you owe it to yourself to take action. You have to change your behavior to progress down the path of financial freedom. Perhaps you have started living above your means. Just because everybody is doing it does not mean you have to. Just because it feels good does not mean you have to have it. Cell phones have quickly become a part of the fabric of our society. They keep us connected.
Do you have to have one? Does it pay the bills? Does it help you earn money? Vacations are great stress relief, but lack of money to pay your bills is bigger stress. Or perhaps a modification of your vacation. Drive rather than fly. Closer to home rather than farther. Explore your surrounding area. It can be as much fun and it is important to learn about your surrounding state or region. That motorcycle, is it for go or show? A cheaper, smaller motorcycle is just as much fun without the high price tag. Do you have to have that fancy coffee every day? You'd be surprised how fast those extra few dollars mount up. But be realistic and really form a budget to see where the money goes. Analyze your utility bills to see what is sucking up your money for energy. Is any of it wasted? Look at your everyday life and change actions that cost a little more than they should, The total mounts quickly for daily items. Another item would be your Internet connection, but could that be a solution rather than a problem?
Less than 10% of the bad mortgages have been modified. Low percentages have been helped through Bank of America and Wells Fargo. Chase has done well with a 20% modification rate through its 24 resource centers. The other two big mortgage holders have mitigating circumstances. They absorbed Countrywide and other organization caught in the sub-prime debacle. They have the clients that did not have the financial savvy to know they were getting in above their heads.
These clients may not have the financial savvy to pull themselves out of the morass. But that Internet connection could save more people. The program is still grappling with a solution. Watch for a single web form that can be filled out to start the mortgage modification process. Regardless of where the mortgage is, the borrower fills out this one form and sends it in for processing. The processor finds the mortgage holder and expedites the process. The solution still rests with the individual to take action and realize they can't wait for President Obama to do it for them.
Do you have to have one? Does it pay the bills? Does it help you earn money? Vacations are great stress relief, but lack of money to pay your bills is bigger stress. Or perhaps a modification of your vacation. Drive rather than fly. Closer to home rather than farther. Explore your surrounding area. It can be as much fun and it is important to learn about your surrounding state or region. That motorcycle, is it for go or show? A cheaper, smaller motorcycle is just as much fun without the high price tag. Do you have to have that fancy coffee every day? You'd be surprised how fast those extra few dollars mount up. But be realistic and really form a budget to see where the money goes. Analyze your utility bills to see what is sucking up your money for energy. Is any of it wasted? Look at your everyday life and change actions that cost a little more than they should, The total mounts quickly for daily items. Another item would be your Internet connection, but could that be a solution rather than a problem?
Less than 10% of the bad mortgages have been modified. Low percentages have been helped through Bank of America and Wells Fargo. Chase has done well with a 20% modification rate through its 24 resource centers. The other two big mortgage holders have mitigating circumstances. They absorbed Countrywide and other organization caught in the sub-prime debacle. They have the clients that did not have the financial savvy to know they were getting in above their heads.
These clients may not have the financial savvy to pull themselves out of the morass. But that Internet connection could save more people. The program is still grappling with a solution. Watch for a single web form that can be filled out to start the mortgage modification process. Regardless of where the mortgage is, the borrower fills out this one form and sends it in for processing. The processor finds the mortgage holder and expedites the process. The solution still rests with the individual to take action and realize they can't wait for President Obama to do it for them.
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