Impending such a strong and terminal word. The pure fact that something is impending (meaning to happen in the future) is a dark and ugly shadow over many people. Especially in this crazy economy we are in. You see when that word impending is used it’s in conjunction with foreclosure, bankruptcy, death. You know what I am saying it’s going to be final.

Why is it that so many people are impending financial disaster within their own lives even when they have seen the signs all around them warning them of immediate change that needs to be taken in and implemented. It sounds so crazy to me that people would still rather live in a shadowed word where they are behind glass walls, just waiting for someone to throw a stone at you.

So forget the impending problems we need to focus on the impending solutions instead. What are you faced with? Foreclosure? Not a problem. Over Leveraged Debt? Again no problem. Are you behind on taxes? Still no problem. No matter what the financial outlook seems like it can always be altered. You do not have to wait for the worst impending situation to prompt you to get help. You have leeway and lead time to get all of your ducks in a row, so to speak.

You know it feels like you are all alone when these types of financial uncertainties take form in your life, however it’s not like you just woke up one day and there was a problem. You had some insider information that warned you about this some time ago. Maybe you just need to step aside and get out of your own way.

Have you ever felt trapped by your fear or emotions? We have all been victimized by it in one way or another well it’s time to get over it. For many positive reasons. For starter imaging eliminating tons of undue stress in your life. How about the increased cash you keep from eliminating debt and start carving out a brighter future? Nothing in life is for certain except that you have to stand up for what matters most.

• Using college education funds for real estate Many people aren't aware of the little laws in the IRS tax code that states not what you can put into these types of accounts, they state what you can't put in their instead. So while people are using stocks and going mad with the market place activities, others are......
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• When it comes to doing deals what matters most to you? As I sit ready to leave this evening to enjoy festive occasion with the staff and friends of our real estate operations I take a moment to reflect on the years past and all that has happened to this point in my life so far. I reflect the emotions of......
• You can't tell people what to do I was watching the Bill Maher show last night and wow what an amazing delivery of realism and truth. You know when you catch certain conversations that lighten your spirit and open you eyes to a new idea or set of care values. So many people live jaded and......

• Success, Football, and Some Links I usually don't talk about politics here, and this won't be much of an exception. Even though the two people below are political, it's more about their success stories.  Perhaps it's just finishing Malcolm Gladwell's Outliers, but I'm thinking quite a bit how some of the most successful people got......
• The world is not like me Part of growing up is learning that there are more viewpoints in the world than just our own. While we probably all realize that intellectually by now, it's a different matter to actually remain aware of the implications AND apply that knowledge to our everyday lives. It's just too easy......
• Pay It Down From Debt To Wealth On 10 A Day She says: This is a good book for laying out a workable plan on reducing debt.  Featuring real life stories from a special that aired on the Today show, this book helps people escape from the tentacles of debt.  The premise of the book is finding $10 per day (by......
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• Avoid Credit Trouble By Having A Plan For Financial Emergencies. This is a guest post from Trisha Wagner. One of the leading causes of credit problems for financially responsible people occurs during  or after a financial emergency.  You may pay your bills on time, use your credit wisely and make your mortgage payments, but if you do not plan......

Have you considered using a debt settlement company for your over leveraged credit lines? What’s the best method, service provider and option for you as a consumer? These are questions that many people should be asking before they answer an ad for a company who “specializes in debt consolidation.”

Many companies that perform debt settlement and consolidation have a couple of pitfalls. First off many of them negotiate with your creditors and set up a payment plan, then the funds that they collect every month are accrued and collected for their fees first, then after a period of time up to six months your capital is being applied to their costs and not your debt.

Secondly they are consumer advocates and not necessarily attorney based there for when your creditor decides to sue you for settlement trying to force your hand into financial turmoil or bankruptcy you get dropped from the debt settlement company.

Scenario case and point we had a client in our office who needed a debt settlement service so we directed them to a known source. The payment plan was negotiated and set up for three years. Soon after the program started the clients proceeded to make the required payments. After three months and $7,500 later the clients received a notice from their mortgage company.

They were being sued, after contacting the debt settlement company 3 days before the end of the refund policy they talked it over and decided to file bankruptcy. The couple called the debt settlement company back and they were informed of two issues.

1. Yes we see you have been issued a lawsuit by the mortgage company & that they would not be receiving any refund.

2. You are also being dropped from our program because we do not have an attorney on staff,

Needless to say we had some very, very upset clients for the obvious reasons of loss of thousands of dollars and now being dropped for something totally out of their control. Now they had to file a bankruptcy to save their home, which translated into more of an expense and more headaches.

Another scenario plays the same way; the debt settlement company charges a fee of $14,000 up front on $100,000 in debt. The credit card company receives no payments for several months and issues a lawsuit. The clients are out the months of payment for debt settlement, they received a total of three months and simultaneously were dropped from the debt settlement company because they did not have an attorney on staff.

When it comes to debt settlement you need just as much legal protection in this arena as you would to modify a loan or start a corporation and draw up the documentation. Time and time again people fall victim to companies who are out for their own agenda and business gain.

It’s sad yet people make decisions based on emotions and not necessarily on well thought out or planned out strategy and they wind up with either a band-aid on a sever wound that needed proper medical attention; or they wind up with a situation that is far worse than the one they started off with.

Also besides having the professional advise of an attorney you have the representation to assist you when those creditors retaliate against you. This way you can rest assured that you are protected and safe from those unexpected bumps in the road.

• Here is part three of this report var YAHOO = {\'Shortcuts\' : {}}; YAHOO.Shortcuts.hasSensitiveText = true; YAHOO.Shortcuts.sensitivityType = ["adult"]; YAHOO.Shortcuts.doUlt = false; YAHOO.Shortcuts.location = "us"; YAHOO.Shortcuts.document_id = 0; YAHOO.Shortcuts.document_type = ""; YAHOO.Shortcuts.document_title = "Real Estate IRAs: Secrets Revealed - Part Three"; YAHOO.Shortcuts.document_publish_date = ""; YAHOO.Shortcuts.document_author = "help@trustetc.com"; YAHOO.Shortcuts.document_url = ""; YAHOO.Shortcuts.document_tags = ""; YAHOO.Shortcuts.annotationSet = { "lw_1212114071_0":......
• Happy Labor Day Are You Working On Your Finances Today Image by Robert Couse-Baker via Flickr Here we are again entering the holiday season, beginning with today and running directly into the major holiday season. Halloween, thanksgiving and of course everybody's favorite Christmas. With the soon to be spending season coming right around the corner at this time of......
• Death before bankruptcy no way - hope is on the horizon In today’s economic conditions death seem to be the only way out for many consumers who are consumed by over whelming debt. Although bankruptcies are up in filings for the third year since reforms went onto effect many consumers feel that their options seem hopeless yet they still plug on......
• Organizing your daily financial routine Wealth it all starts with a concept, the challenge is making the mind choose from the heart. I know this may seem funny at first but you will soon realize that your actually doing it. You see when you make choices they always come from the heart first, then the......
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• Debt Settlement Information For People With A Low Credit Score Many individuals are looking for a debt settlement method to decrease the debt load that they are carrying, especially when the person is battling a low credit score as well.  When looking for settlement methods, there are several things that the person must keep in mind in order to get......
• How To Hedge Your Bets: 10 Ways To Diversify Your Income Jonathan Leane is today's guest blogger here at Rich Credit Debt Loan. Jonathan writes for Debt Loans. Why Diversify Your Income? Most people are familiar with the idea of diversification—it is common knowledge to not “put all your eggs in one basket”. However, this advice is most commonly applied to......
• "Debt Crisis in America" & JCR Advertising are Evil I don't know if you've seen the Debt Crisis in America commercials on television or not, but when I saw them, I thought, "This is a whole new level of scummy advertising." If you haven't seen them, you can watch two of them here. I can't decide which one is......
• Debt Settlement Complaints On The Rise It comes as no surprise that consumer complaints regarding the debt settlement industry have spiked in recent years. Hundreds of new companies offering debt relief have sprouted up, seemingly overnight, to provide services to the millions of Americans who are struggling with debt. Many consumers, desperate to eliminate debt, jump......
• How to Negotiate with Credit Card Companies to Reduce Your Debt Today's article is a guest post by Andrew Wang... With consumers facing tough times in the wake of the financial crisis of 2008, it's a good opportunity to discuss the possibility of getting your credit card debt sorted. Most people assume credit card companies care only about the profits they......

In the fox news article our fearless 2nd in command did it again, Bidon says we guessed wrong. Howe in the heck do we guess wrong on $42,000,000,000 worth of bailout funds and we have to pay for it. Here is the fox news article

• Here Are 7 Tips for Consumers Preparing to Purchase a Home When it comes to purchasing a home you know the basics, you need to get prequalified for a mortgage, then find a Real Estate Agent or Realtor that you can trust. Sure this sounds easy enough and for many people it is. However if you're intimidated about where to start......
• 10 credit score commandments I just found the great website called mint.com if you have not been here before I suggest you check them out. Free accounts to help your money management. As I was toying around the site I found this great article about the "10 commandments to credit."Forget making changes to your......
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The most differentiating factor between purchase money and refinance money is the legal recourse that the institutional lending agencies have against you. You see when you make the original purchase loan for your piece of real estate your agreeing that if you default that you are not liable. The money is what’s known as non recourse (meaning the bank cannot go after you for the lost portion of the principle.)

The first time you decide to refinance your mortgage to lower your rate, modify the principle amount or performing any type reduction in principle you loose the non recourse clause on your purchase money. Now you enter into a recourse position where you become liable for the debt or the offset in principle when you perform a loan modification.

Even on a short sale if you have refinanced and now you are in a position where you are forced to sell due to financial hardship. You are going to receive a 1099 at the end of the year showing you made a gain. Now you are in a position for a lawsuit, taxable events and a whole slough of financial hardships.

The only way to possibly get out of this scenario is if you are insolvent and you can prove beyond a shadow of a doubt that you cannot repay the debt. Now you’re forced into bankruptcy and you now face more financial hardships than you started with.

On the other hand if you are using a purchase money loan and you are forced into the same scenario of a short sale or loan modification you are not on the hook for the banks loss. I’m not saying that you should never refinance but you need to know why. If you are living on liquid equity squeezing every dime out of your home’s equity then you know you’ve created a financial nightmare.

You have been living in a world where money appeared almost magically especially if you lived in California. Appreciation made equity seem as if it was never ending and then the worst happened. Some savvy marketers created an awesome campaign on adjustable loans that enticed people to buy homes far out of reach, created a frienzy of refinances in the market place.

So now you’ve given up your protection from recourse and you are faced with some huge tax burdens. There are only so many chances for finding a way to pull money out of your home. Now that you have run out of equity, appreciation is gone and you’re under water you’re faced with many choices for help.

The one thing thats failed to be mentioned is the TAX consequence. Be aware of your situation and make your financial choices wisely. Seek out the assistance of qualified professionals for guidance. Your financial house must remain in order no matter what. It’s your life and your future why spend it worried about money and consequence when you can worry about the finer things in life.

Tax consequences don’t go away just by ignoring them, the IRS will garnish your wages and that can have an effect on your over all take home pay, your quality of life and even your employment. You know as well as I that Uncle Sam always get his cut first.

Money isn’t everything, however keeping every sliver of it you can is! Wealth is a concept of it’s not how much you make it’s how much you keep. Know your position and tax consequence before you make a choice that can have a negative effect on your life.

• These 29 Tips To Help Save You Money Funny how when we look at money, financial affairs and wealth we often overlook some of the most simple things. For example what about cutting back on items or finding ways to save on the purchases of the items or services, I read this article in Readers Digest a couple......
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• President signs new housing act to help 400,000 homeowners The president has just signed the Federal Housing and recovery Act of 2008. Legislation that will overhaul the Depression-era FHA and provide mortgage relief for 400,000 homeowners struggling with foreclosure woes.   This bill is also designed to quiet the jitters on Wall Street by offering some financial relief......
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Yes you can obtain credit in a down market with the proper mindset, motivation, and knowledge. Where do you start especially if you need to acquire it fast and you don’t have many resources. This is a quick guide to preparing for the individual or the corporate credit seeker.

If you want the simple truth you need to be in a tip top shape financially and have the ability without a shadow of a doubt that you are financially able to repay the debt you are borrowing. This is nothing new from previous markets, the new rules are the same when it comes to borrowing.

The new way to obtain credit is to prove that you really don’t need it, however this has been the case since bartering and credit has evolved. People always have said you need credit to get credit and you need money to make money right. It’s no different today.

Guidelines have become tighter and banks and lending institutions started lending less. So with all of these odds against you what do you as a prospective borrower are crucial for your success.

First off you need to have your financial affairs in order, secondly is your credit accurate, have you reviewed it within the last three to six months to ensure that everything on it is accurate? This should always be the first step before applying for any credit.

If you are trying to obtain credit for the first time or after a financial hardship such as bankruptcy or divorce you have some “sub-prime credit card companies” out in the market place who can get you started with a low balance & a higher interest rate.

Now remember these are for reestablishing as well as rebuilding credit. You can always obtain new lower costly credit after six months to a year. Obtaining credit in a down market isn’t as difficult as one might think. The down marketplace makes obtaining credit more challenging and difficult.

However the rules are still the same. Recently I applied for some new credit and I was able to obtain a new line of credit from my credit card company with less than perfect credit. I was able to do this because of the relationship I have established with my current credit card company.

I have also have closed several mortgages which is an indication of banks starting to work through there financial crisis. There is always a way to obtain what you need more than what you really want however people have always seemed to find a way to get what they want rather than what they need.

Now that credit is tighter and banks have cut off a lot of equity lines, credit card companies have folded and new laws on the horizon only time will tell what new requirements will be placed on both businesses and consumers.

Always remember to keep your financial house in order and to keep all of expenditures tracked and allocated. Keep tabs on your credit to ensure your identity is protected. Also optimize your spending so that you can keep enough in reserves to ensure ongoing success with debt elimination.

• what the entire scope of the financial devistation is Recently I posted an article about Joe Bidon, well really just a blurb on his notable speech on meet the press last weekend. His statement says "we guessed wrong." I'm sorry but for those of you who are suffereing I can share the pain and losses with you. Still many......
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