Friday, February 26, 2010

Gratitude Friday and Dave

Yesterday was a blast but this morning I am so tired from everything. Im grateful I made it home and grateful we helped change lives yesterday. Can't wait to do it again next year!

Thursday, February 25, 2010

Dave Ramsey Live Event!!!!! IS HERE!!!

Me my mother and a friend I introduced to the Dave Ramsey program are at the live event volunteering today in Grand Rapids Michigan!!

Dave came and shook our hands and we all got a picture!! The Event hasn't started yet but since we have a computer by our station I can check in and give live updates from facebook!! cool huh!!

I shall return with loads of pics!!

Wednesday, February 24, 2010

Being Gazelle Vs Family Trips What Would You Do

Over the last couple of months I have been venturing out to other websites that talk about money and finance. A few that I have come across I have added to my blog roll because I honestly believe when you find good info you should share it! But recently I was reading over at a site called blogging away debt. I personally love the site but this particular entry has been driving me up a wall so I decided to bring it here to see if im just a wackeydo or I really have valid points.

Here is what the entry said.....

My husband and I have been debating a big financial decision for a few months now. Some of my family is heading to Ireland and Italy in October and this will likely be the last and only trip we make together.

The cost of the trip?

$3,000 each.

I could say no but… I have decided to go.

Our tax refund covers the entire expense so we won’t fall behind on our debt free date.

I’m sorry to disappoint you, and I’m sure I have, but this is an opportunity I can’t turn down. Spending time with my family discovering our history across the sea, walking the same steps our grandfathers did, is important to me.

Now Out of 4o some odd comments everyone BUT MINE said Go! But my brain said don't do it and here are my reasons.

1. It sounded like it was semi planned - Im all for trips during the debt snowball process, but it would have to be ones that I have actually saved up for way in advance, now if she had said last year "I intend to use my tax refund money next year" ok fine I get it.

2. Once in a life time really? - I kept reading where she explained that after this year its basically over for the rest of the family to take trips..... sucks to be them eh???? I plan on being debt free soon and boy If im still alive im gonna travel my butt off! I want to have kids one day but, if kids, marriage, or home buying keeps me from taking big trips..... I pass!! lol

3. I want to be out of debt more than I want to see Italy - 6,000 is a lotta money, but then again I don't know there income levels so it seems big to me. Its taking me over 3 years to become debt free and I will be darn if I prolong that much longer. This particular blogger has just about the same about of debt left as me, suddenly im feeling challenged to beat her to debt freedom, and motivation is motivation!

Now at the end of the day, personal finance is just that PERSONAL so don't shoot me if you don't agree! But I still wanna know what would you do?

Tuesday, February 23, 2010

Joe Clark and Car Debt

When I first decided to write about this particular topic the first thing that came to my mind was this video clip as funny as it may seem. Me and one of my friends would always tease each other saying " you smoke crack don't cha?" every time either of us would do OR say something extremely silly or stupid.

This is exactly how I feel about car debt, its like killing yourself REALLY! Recently I was talking to a co worker and she was explaining to me that she just found out her ex husband has a car lease on a lexus for 700 dollars a month and bounces checks on a monthly basis. For one how does she know so much about an ex lol and two how in the world do you pay $700 a month for a car! Talk about insanity doubled over!

Now don't get me wrong I am a fan of nice cars or even new cars for that matter WHEN YOU HAVE THE CASH. I drove around in stupid for 2 years before stupid caught me and repossessed my "nice car" After that time of embarrassment and pain, I decided I would never have a car payment again. Check out what Dave says about buying new cars..

Buying a new car is not something 98% of the people out there need to be doing. It is a luxury item. Only buy a new car if you're filthy rich. The money saved by buying a used car is because of depreciation (the loss of the financial value of an object due to its use). Used cars have already depreciated (60% to 70% in the first five years). Buying used allows the person who bought the car when it was new to eat the cost of the depreciation. Then the person who buys the car used can get a great car for much less than the new wholesale prices.

Say you are looking into financing a sports car with payments of $400 per month. The car that you are driving now is worth around $1,500. If you take that $400 and pay yourself instead of paying it to the dealer, you will save $4,000 in 10 months. You will have $1,500 from selling your old car, so you will be able to buy a $5,500 car just 10 months from now. Continue doing that for another 10 months and you will be able to buy yourself a $10,000 car. That is only 20 months away. You can do it!

There are alternatives to buying new. Used lots are overflowing, and millions of cars come from expired leases. If you want to know what used cars are selling for these days, look online at the following sites:

Also, call some of the banks in your area and ask them how they dispose of their repossessions. If they have a repo auction in your area, this is a great way to find good deals. But the best deals you can find are usually from individuals because they are trying to get rid of their vehicles. Look in your area papers and find what's for sale. No car fever! Go take a cold shower! No new car!

So what are your thoughts on new cars?

Monday, February 22, 2010

Ask Me Any Thing Monday

Its official, I have run out of things to talk about! Shocking I know! While I am fully aware that there are a lot of topics to cover about money management and debt, I find it rather hard to explore topics that I myself aren't currently entertaining. While I want to become one of the Internets best known bloggers of all time, I don't believe in cluttering my blog with subjects that have absolutely nothing to do with nothing. I am so excite d to have new readers every day and I hate not having new information out there so for the next week I will leave the floor open to discuss ANYTHING related to finances. Ask me about student loans, credit cards, bankruptcy, or whatever comes to mind I will do my best to cover it here. If I don't know the answer I will most certainly find it for ya!!

So email me at with any questions and I will explore the answers live and direct on this blog!!

Give me ya best shot!

Friday, February 19, 2010

Gratitude Friday and Love

This week has been much of an eye opener in regards to relationships, particularly with the opposite sex. I remember a few months ago praying God would protect my heart and today I can thankfully say he has.

For a few weeks I had been complaining about living the single life and how hard it is to be a single person trying to also become debt free. I learned that its still not easy but I think its in Gods plans for me to focus on ONE thing instead of two. In the past I have tried to carry on a relationship while being gazelle and the other person not really knowing how this debt thing worked and I do admit it was difficult. So while I think about marriage one day I realize how much God isn't keeping me from that God fearing man but he is rather preparing me. Today I thank him for his love kindness in grace. Each day my prayer will be that I am 100% fufilled in this area of my life and as the famous saying goes, let go and let God. Im prepared to do this knowing some days will always be easier than others, but today I celebrate because this day is Easy! Easy like Sunday Morning!!!

What are you Grateful for??

Thursday, February 18, 2010


Tuesday was my second week of FPU and we had a great discussion about budgeting. One helpful tip that came up was how to prepare meals in advance so you don't eat out as much. One class member suggested

This site plans your grocery list for you and makes meal plans for you so you don't even have to think about it! I have never personally used the site but if you have or plan on it let me know how great it works!

Wednesday, February 17, 2010

Stuffitis Do You think its Incurable?

As I constantly think about being debt free, I start thinking more and more about all the things I have gone without for the past 2 years and how happy I will be when I can REALLY shop again. But as I started to calculate the stuff in my head and the amount went up, I started to wonder if this STUFF would really be worth it after all this waiting.

If anybody knows me I have a true appreciation for nice stuff. I always loved decorating and making the atmosphere just right. I often brought new art work, or lamps just to give the room a new feel every couple months. If you look at the picture below (disregard my face lol) you can see my place when I was 22 . It was a small place but I thought I had it going on with the decor and my friends agreed.

Eventually I moved to a house where my decorating habit ended up getting the best of me and caused me to make very poor financial decisions resulting in my downfall. Ever since then I have had to suppress my urge to spend on creating the nice environment that I loved so much. Some days its been harder than others but I would say over all its been a success not spending. To cope though I have brought simple things I could use like a bed set, or a candle set that didn't take up much space.

I honestly can't tell you how good I (think) I will feel when I get to decorate for the first time in almost 3 years. But decorating is just one of the things I plan to do, I also want to get a NEW laptop, tv, and cable all of which I do believe will put a smile on my face. But for how long I don't know.

Which is why you all in blog land come in. Before I start spending crazy trying to make up for all the things I have missed over the last few years I wanted to ask everyone these questions.

1. Do you think the best things in life are REALLY free? If so what are the free things you have that bring you the most joy.

2. Out of the stuff you had to have, how many of those things do you use on a regular basis, do you light up every time you turn on the tv or the ipod or whatever it is, or did the excitement of it all eventually leave. How long did it take?

3. Of all the things you have purchased because you had to have it, do you look back and think you would be just fine if you didn't. Why or why not.

Those are my 3 main questions I hope people answer honestly here on this blog. Now once I am debt free I am definitely going to shop for new furniture but the other stuff, I am questioning if I am just buying because I can, or because these things are really going to make me happy. It will be interesting to see how things play out in the next 12 months post debt.

Tuesday, February 16, 2010

Tax Refund Money!

I was sitting here thinking about my refund from my taxes. I started working on them a couple weeks ago and they aren't finished yet. I kinda just wanted to get an idea of what I may be getting back. Looks to be around 1,100 which isn't bad considering I had more exemptions this year. Of course I intend to put all the money towards debt but I am just curious as to what the rest of you might do......

If your going shopping, saving, or paying debt tell me about it! I would love to hear!

Friday, February 12, 2010

Gratitude Friday and Mint.Com

My good friend Sunny put me up on this website called It helps you balance all of your accounts like, banking, home loans, student loans ect. Its a pretty cool site and very helping showing where your money goes when you use your debt cards or credit cards.

I am grateful for being able to really see the brighter side of things when ever possible. My house is the number one thing on my mind because a lot depends on the sale of it. I am confident things will go smooth and come out much better than I expect it to. My faith in God allows me to believe that anything is possible when God is at work and unless proven otherwise I have no reason to doubt. My first Fpu class went very well and I am even more excited to be able to call the Dave Ramsey show to say I had the opportunity. Im thankful for love and support and all the lessons that come with growing up.

What are you grateful for?

Thursday, February 11, 2010

Divine & Debt Free Confession #1

There is a scripture in the bible that talks about how we should
our sins to one another so that the righteous
can pray for you and be healed
"James 5:16".
While I am making light of the scripture in this
matter because in my opinion its minor,
It still needs to be addressed or at the
very least be validated.

Lately I have been obsessing over my debt. Every day I
look at my budget and attempt to figure out ways I can
be paid off faster. At first it was cool but now its like
I have tweaked and tweaked til it can't be tweaked no
In my defense being debt free is way over due,
something that should have taken 15 months has taking me
3 years and its pretty annoying. I do admit in
2009 I wasn't very intense but I still cut back
in areas which made the time seem much longer
than what it really was or should have been.

Funny thing is, that while I have projected my debt pay off
(yet again) to be the end of the year,
I am fully aware that this still isn't etched in stone because just
like in the last 2 years, IT CAN CHANGE!! I
tell you it frustrates me so much feeling like you have
control but not really having it. There honestly is only
so much I can do and the ONLY thing I can do at this point is continue to
go to work every day and wait.......

Im tired of looking at the stupid budget hours at a time
knowing the only thing that stands between me
and no debt is time. So this really is my cry for help
what can I do!!! I really want to stop
feeling so overwhelmed with the idea, I just want to live life
and let things flow. Its not fun to be so
gazelle intense with no one to share the intensity wit.
Im so close to debt freedom im tasting it and im
almost afraid I won't know what to do when everything is paid off.
I just want it to get here so I can move on!!

(insert sulking here)

Wednesday, February 10, 2010

The FREE E-Book “LOVEveryday”

Download it out over at Enemy of Debt!!!! and please leave your comments and thoughts!

told you it was coming, and now it’s finally here! The LOVEveryday E-book is now available for download and distribution. (Click the link or view the sideshow below.) We hope you enjoy reading it, as much as we enjoyed writing it. Sometimes the information you need to make certain changes in your own life are right in front of you. This could be one of those times! Don’t leave it to chance, as I am 100% convinced you will take away from this, something of value, you can apply to your own relationship or marriage. I sure plan on learning from it!

Once you read it, PLEASE come back and let me know how we did. Your thoughts and comments are always appreciated!

Please be sure to check out the authors and their respective sites to learn more about the authors behind the curtain computer screen. :D

LOVEveryday: Thoughts On Loving Amidst The Chaos Of Life

Time Starved: Why Don’t We Have Time For Each Other
Paul Byerly – The Generous Husband

The Alarm Clock: Starting The Day Off Right
Dan Miller – 48 Days

The Snooze Button: Is Your relationship On Hold?
Carrie Burgan – Make Mine Happen

First Cup Of Coffee: Awaken Your Relationship
Corey Allan – The Simple Marriage

Behind The Wheel: What’s Steering Your Relationship?
Jeff Nickles – My Super-Charged Life

Fuel Your Relationship

Dr. Michelle Gannon – Marriage Prep 101

At The Office: Working Couples And Stress
Trudy Sargent – Love Talk

Business Time: Keeping The Sex Alive
Alisa Bowman – Project Happily Ever After

Traffic Jam: Get Back Up To Speed
Damien Riley –

Waiting In Line: What Are You Waiting For?
Pat Flynn – Smart Passive Income Blog

The Sock drawer: How Being Organized Helps You Both
Lori Byerly – The Generous Wife

Playtime: How Kids Bring You Closer Together As A Couple
Samantha Mellen – Mama Notes

Changing The Light Bulb: Viewing Your Relationship In New Light
Mandi Ehman – Organizing Your Way

Cleaning Up After A Mess (Apology and Forgiveness)
Brad Chaffee – Enemy of Debt Self Reliance Exchange

Pour On Love: How To Love Your Spouse Generously
Lori Lowe – Life Gems

Grocery Shopping: Feeding Your Relationship
Chelle Stein – It Might Be Love

Diner Time
Kathleen Quiring – Project M

Dish Duty: Sharing Responsibility
Maureen Shaw – Feeling Flirty

Pocket Change: Using Money To Enhance Your Relationship
Nate Desmond – Practical Manliness

Checkbook Balance: Stop Fighting Over Money
J. Money – Budgets Are Sexy

What’s On TV? Television and Relationships

Stu Gray – The Marry Blogger

Logging On
Isabella Mori – Change Therapy

Evening Rituals: 10 Ideas To Get You Going
Sheri Kruger – Zen Family Habits Serene Journey

Putting The Kids To Bed: Balancing Kid Needs And Adult Needs
Cindy J. Taylor – Affair Care

Pillow Talk: Romance Through Words
Dustin Riechmann – Engaged Marriage

Let’s Go Out: Dates To Bring You Closer Together
Toni & Alisa DiLorenzo – One Extraordinary Marriage

Sunday School: Finding The Spirit In Your Relationships
Denee King – She Just Got Married

NOW GO CHECK IT OUT! Download it, send it to friends, tweet it, share it on Facebook and with everyone you know. One thing we know is that whether you are married or single, you need good relationship skills. Help us get our message out there for ALL to read. I am pretty certain that I can speak for the group when I say, we appreciate your efforts to do so, no matter how big or small they may be.

We just want you and everyone you know to have lasting and fulfilling relationships that stand the test of time. Love each other much! Love each other often! And of course love each other every day! SAVE this e-book and refer to it often!

(Expect to see an E-book from Enemy of Debt in the near future. I am working hard on it as we speak.)


Emergency Funds

Im sure if you are an avid reader of any money blog you have come across the topic more than a few times.

Yesterday was my first FPU class which went great by the way, and we watched the lesson on super saving. I remember when I first had to save up 1,000 and how much of a pain it was. I have had to "dip" into my emergency fund a lot over the last 2 years and each time I have been thankful that the money was there.

If you don't have a mini emergency fund, please use this tax season to get one. You dont want to waste your whole refund on shopping and gadgets this year again. Set some money aside and start building that fund up. If your heart is beating you can count on you having emergencies.

Whats stopping you! do it now!

Tuesday, February 9, 2010

Time Management Challenge Update

I just wanted to check in and let everyone know what has been going on so far. Though I haven't kept a super strict time chart I have managed to do a few things differently that has helped me over the last week:

1. Started getting to bed most nights before 10pm - I figured out that I now need at least 7-8 hours of sleep to not walk around zombie like all day.

2. exercising - Last week I did 10 minutes a day and while that went very well I have yet to move up to 20 minutes but I need more motivation!

3. eating breakfast - The benefits just go without saying, but I realized how important it is to not be starving soon as I get to work.

4. Started cooking - Less eating out has been very good to me and in a weeks time I have only eaten out once!! I feel great about that.

5. Bible study - I managed to get in at least 1 hour a day but I am still spending to much time online instead of getting other things done of more importance.

Week two is underway !

Monday, February 8, 2010

Debt Settlement and Your Rights

I have listened to the Dave Ramsey show just about every day for the last 2 years. Over those years I have heard many people call in asking questions about filing for bankruptcy. Its been very cool to listen to their situation get unpacked right there on the radio. Most of the time it all boils down to a few factors, cars houses, and credit cards.

A lot of times Dave will tell people, if you want to get rid of the credit cards just don't pay them! It always seems to shock and amaze the callers and they don't unusually understand why he says to do that. Today I am going to explain a little bit about how debt settlement works, hopefully none of my readers are in a bind but just in case!

I have had a LOT of experience dealing with creditors over the years and if any body knows about how nasty bill collectors can be its me. They know a great deal about the art of manipulation and how important it is to get under peoples skin. I actually had one bill collector tell me they were going to call the police on me, pretty scary right!

Truth told there are only a few things that collectors can do and most of the time it can be a while before they ever get around to doing anything with your file once its gone past due.

After a debt has gone past due say 30 days. You will first start to get phone calls. Yes they are a bit annoying but other than block the number and hang up on them is about all you can do.

You will get past due bills pretty much from 6 months to a year past due before they turn you over to a collection company that is not the original debtor. More phone calls come from that, but just different people with different scare tactics.

I recently settled a debt that was 2 years old. They had not been able to reach me to pay the debt since I moved with no new address. I was served with court papers and they did actually file a judgment. Now I don't suggest anyone wait 2 whole years to pay a debt but this is just an example of how long it can be before anything can happen to you.

If you do not respond to a court date they will receive what is called an automatic judgment and at that point they have the right to garnish wadges and bank accounts. However you ALWAYS ALWAYS ALWAYS, have a right to settle the account even after a lien has been placed on accounts and wadges begin to be garnished. Company's usually settle for 25 cents on the dollar just 6 months after a delinquency has taken place. I always encourage people to negotiate before you take any offer to settle.

Never set up a payment plan on delinquent accounts. If you can't settle in full in one lump sum don't do it. Always have the offer in writing and NEVER give anyone electronic access to your bank account.

Hopefully I have helped shed some light on how bill collectors work. Never let them bully you because most of them have little to no power to do anything at all. So if your afraid and thinking about filing bankruptcy because of credit card debt DON'T, just toss the bills in the trash and call em up when you are able to pay them!

Friday, February 5, 2010

No Debt Ever Again! No Seriously!!

I was talking to my girlfriend (yea i talk way to much sometimes) whom I love dearly about my plans to short sale my home. "You do know there are ramifications to this right?", she asked. "Of course I do, but see I never plan to borrow money again". She responded "never say never".

Now USUALLY I am one to never say never but I promise this is a special circumstance which I intend to adhere to for life. Even if im married and my husband wants to buy a house, I am going to tell him we must save up and pay cash or its no deal.

I know this is a hard concept for normal people to grasp but its also hard for people to grasp the idea of having no consumer debt which I am almost out of that too, so this isn't to far off. See I don't intend to be normal ever again. Debt is not something you just fall into you see typically "unless your dead" you have to sign up for debt. I personally don't ever want to voluntarily sign up for debt again. If I can't pay cash I just wont have it simple as that.

I was thinking especially if I am married and we have two incomes we SHOULD be able to save up for a house wouldn't you think? Its a crazy concept, to buy things you can afford but hey I think I am WEIRD!

No one is going to force me to buy a new car, if my car breaks down I will simply buy another beater just like the one I have now. No one is going to FORCE me to purchase a house with a mortgage especially not after all I have gone though and will continue to go through with this current house until it is sold.

I don't care about a fico score, I don't care If hertz never lets me rent a car from them again, I am swearing off of debt!!

If you come up with a VALID reason for me to be in debt VOLUNTARILY please let me know and I will certainly retract my statement. Until then this is what its gonna be!

Thursday, February 4, 2010

All You Need To Know About Short Sales

I fell this is a good topic to cover since I recently have decided to short sale my current home. I have wrestled with the idea for a while now and I have finally decided to go ahead with the program. I purchased my home in August 2007 right when the market was turning. At the time I was under the assumption that I would relocate but it never happened. Two years later I am a landlord by default which is the worst kind to be.

Considering all the changes fell into my lap, I have done well over the 2 years managing the property and picking fairly good candidates as renters. I started thinking what It would be like to be completely debt free and not have to keep this house as a rental for the next 5-7 years until its paid off. I love the house but I do not like being a long distance landlord at all. Nor do I like having to discount the rent and take a loss to cover the mortgage. So I am meeting with a Realtor on Sunday to discuss the matter. I may get lucky and not need a short sale, or it may be funds I could come up with. Point is im ready to get out and start fresh.

Now there are ramifications on doing short sales which is while I am posting this article. While its not as bad as a foreclosure it still does damage to your credit. Lets take a look....

What is a Real Estate Short Sale?

Short sales are when a seller is behind in payments and instead of going through with a foreclosure, the lender accepts a lesser amount for the home. This allows the seller to avoid a completed foreclosure, the bank to cut their losses quickly, and the investor to buy a property for less than retail. Short sale negotiation of a home mortgage is something that can be made easier if you get a short sale negotiator involved. This allows you to continue to invest and not have to go through the hassle of the banks.

Short Sale Negotiation Saves Those Who May Otherwise Foreclose

A short sale in real estate is a way out of filing bankruptcy or foreclosing on a property a homeowner can no longer afford. Enter the process of short sale negotiation, in which a homeowner is able to sell the house at a lower price and pay off a smaller loan balance. This results in huge discounts on mortgages for real estate investors. When a lender forgives some portion of the debt left on a mortgage, you can hack that amount off the total cost of a home. Short sale negotiation of a home is tricky, but if you know the facts it is a whole new possibility that can be explored. It's probably not as hard as you think.

Short sale negotiation of a home mortgage is an alternative to foreclosure or bankruptcy used by those who have reached a point where they can no longer make monthly mortgage payments. Maybe the reason is job loss, loss of income, or increasing bills. The lender is then put into in a place where he can accept less than the total amount due on the mortgage, likely because the local real estate market is less than healthy. A market with falling home prices will be ripe for the short sales of homes.A lender who accepts a short sale is liable to pursue the borrower for the difference. That's where the lawyer comes in; only the lawyer can determine whether that difference can be treated as a claim or a deficiency judgment.

Another key thing to remember in short sale negotiation is that you're going to need some patience. Negotiating with the banks can take four to eight months. There are a few variables a short sale in real estate depends on:- The current real estate market- The financial situation of the individual borrowerLook for a negotiating firm to negotiate your short sale with the bank. You don't have to do it yourself.

There are negotiators who specialize in this so that you're spending your time investing and running your properties. The short sale negotiation process is much easier when experienced negotiators work with the banks for you.Opportunity exists for lenders because of the current economic downturn. People who can't afford their homes don't want to lower their credit scores by filing bankruptcy or having a foreclosure on their credit report. Lenders don't want to have to deal with delinquent borrowers. Investors want to buy a house through a discount, fix it up, and resell it for a profit. This can be done most efficiently through a short sale conducted by an experienced negotiator.

Will a short sale affect my credit score?
Yes, since it shows that you were unable to pay a mortgage according to the agreement you signed. It might take around 3 years to re-establish good credit. It will generally have far less negative effect on your credit than a foreclosure or a bankruptcy, which are last-resort measures if you cannot do a short sale. Check with your tax specialist or financial planner to be sure of the impact on you personally.

If I pay mortgage insurance and default on my loan, why wouldn't that cover the deficiency amount?
Guess what - the mortgage insurance protects the lender, not you, the borrower!

How do I get my lender to approve of my Short Sale? I called and they didn’t return my calls .
This is not unusual. You need to notify your lender of your problem, but the approval process does not begin until after you receive an offer. You need to contact your Realtor ASAP. There are steps that I can help you take right now to speed up the process. I know how to approach the lender and I know what they need to make it happen.

I just missed a payment and I know I will miss more. Is there time to do a short sale so that I can avoid foreclosure? The foreclosure process can take up to a year. Generally speaking, a well-priced short sale by an educated short sale Realtor will sell within about 4-5 months provided the seller and lender cooperate. Complications can and do arise which can delay things, as always.

Will I still have to pay property taxes if I do a short sale?
Property taxes will always have to be paid as part of any accepted short sale. Whether it’s you or the lender depends on their policies and the specific agreement you reach while negotiating the short

My home needs repairs and upgrading. Am I expected to take care of these items out-of-pocket before selling?
Short Sales are “As-Is” sales. In exchange for a low price, buyers will be asked to perform their own repairs after the purchase, and may also be expected to cover the cost of termite inspections, surveys, and association documents to name a few, which would otherwise be paid for by the seller. Bottom line: don’t spend your scarce funds, but any do-it-yourself painting, clean up and organization to make your property look better will help in the long run.

Do I have to pay income taxes as a result of the short sale?
This was once true. Very recently the tax law was modified and this may no longer be the case for some people. Always consult your Tax Attorney, CPA, or EA to find out what applies.

Who pays the real estate commissions and other selling expenses?
When a short sale is approved, your mortgage lender will add the real estate commissions along with all the other usual closing costs to the amount they will have to pay to close the sale.

Do I have to miss a payment to do a Short Sale?
No. Late in 2008 most major lenders started accepting short sale offers from sellers who have never missed a payment if they see a future hardship. New legislation is pending that could make things easier- only time will tell.

I want to do a short sale but I also have a 2nd mortgage. Does this make me ineligible?
No. Both of your lenders will need to be satisfied in some way to complete the short sale. After your first lender is paid off or settled by the sale, then payment terms with the second lender must be handled. Many short sales do involve 1st and 2nd mortgage holders and will naturally take a bit more time and effort.

Why would my bank agree to accepting less than they are owed?
It's not because they want to make nice. Foreclosing on a homeowner is costly, time consuming, and they end up owning a property they don't want - and then having to hire someone to sell it. It is cheaper for them to accept a loss up front in most cases.

As a buyer, are short sales a good way for me to get a below-market price for a home?
Short sales offer good values for buyers who are willing to wait! Many homes sold through a Short Sale sell for around 90% more or less than other similar homes. Make sure your expectations are realistic. It is nearly impossible to close in the usual 30 – 60 days so. Also, remember that your purchase must be approved by the lender, and they will not agree to performing repairs or paying for some of the closing costs that sellers pay in a typical home sale. Make sure you are using an experienced Buyers Agent who understands the short sale process.

Wednesday, February 3, 2010

Dave Ramsey Killed My Dating Life!

Over the past few years my dating life has been pretty stagnant, I have had a few relationships here and there but nothing that seemed to pan out the way I pictured in my head. The most recent endeavor caused me to think about how "Strict" I will be when it comes to buying into what I believe about money. The guy I was seeing, based everything on credit scores and spoke the words I hate to hear " you need credit to live" Of course you do when you have over 100k in student loans, seems like you "lived" pretty high on the hog there eh? Don't get me wrong I know law school is expensive but I still don't buy the fact that you must go knee deep into debt to get an education.

The guy had a few other money issues that caused red flags to go up all over the place like gambling, and telling me he was going to buy a 200k house in Michigan. Crazy right? Needless to say he got the boot, not because of his money sense but because of his character over all.

Truth told I am hoping when I go to the live event this month that I can meet some people "aka men" that have a bit of money sense. Its hard dating having all these "stipulations" but I do believe that all my requirements do line up with the word of God and I am not to be accepting any thing less than what God has planned for me.

So when it comes down to it Dave didn't kill my dating life, he gave me a few extra tools to make sure I am wise about deciding who I want to spend the rest of my life with. I am willing to wait it out for the right guy, and I truly believe he is coming and he will be all I ask for and more.

Is there any rules you have in place that kills your dating life?

Tuesday, February 2, 2010

Plan For Retirement Sooner Than Later!

There has been recent suggestions that our governor of Michigan is attempting to force some folks into retirement by cutting benefit plans for retirees if the don't leave now. First of all this is NOT a shock to me personally. There have been talks of this since the day I became a State employee, did it come in the form of pay cuts? heck no it looked more like hefty buyouts. But nobody predicted we would be in the mess that we are in either.

At any rate people are freaking out over no dental and vision. I have been pondering this all day and asking questions and I still don't see the big deal. If your budget breaks down over those two things I think your problem is much bigger, YOU DIDN'T PLAN.

I feel sorry for all those people that don't have much savings after 30 years of working, that could have even been me in 20 years had it not been for getting on a game plan.

So I say all this to say start saving NOW, you don't want to be working at walmart let alone be working because you are forced to after 30 years of service just to pay bills. Even if you aren't on the dave plan aka the baby steps, PLEASE start saving at least 15% of your income in retirement. You will be glad you did later on in life!

Monday, February 1, 2010

First Day on The Schedule Update

So this morning my plan didn't work out to well as far as being on schedule. I went to bed late, talking to mom and trying to get some bible study.

This morning I didn't actually get out of bed until about 6:30, I did eat breakfast and pray so thats good but no working out taking place AT ALL.

Now according to my schedule I should be eating and messing around on the computer. Ms 80's baby suggest I should move my bible study up and turn off the tv and computer for an hour. Hmmmm ok???

I guess I gotta go!! lol

Time Management Challenge GET READY!!

Let me start by saying this is one of the hardest challenges I have ever taken part in. I personally can't stand structure and try to eliminate it as much as possible, but this year is all about change.

My schedule is very tight these days and the more I work the more I lack organization, which at times often cause great frustration. I haven't cooked in weeks, my clothes are scattered all over the floor and it seems like I'm running from one extreme to the next. This go go life style has caused me to be unhealthy and semi depressed because it can be overwhelming. You add trying to get out of debt to all the madness and you have complete and utter chaos!!!

Well let me tell you I'm here to put an end to all the madness (at least for a month). This month I will be making use of every hour of my day (outside of work) and attempt to be productive. This will include making sure my meals are prepared in advance, exercising, and having bible study time. The point in all this is to hopefully make me feel better knowing I can get things done and not waste away. I mean honestly when you are trying to get out of debt the last thing you really want to do is pile on more stress. But this will be more of a destresser (is that a word?) hopefully.

So each day I will post what I did, in efforts to keep me accountable lets pray I can stick to it!!

here is what my day should look like starting today:

5:00am-5:30 - prayer and bible study

5:30am-6:00 - work out

6:00am - 6:30 eat breakfast

6:30am - 7:30- get dressed and off to work

8:00am-4:30 - work

Between 5 and 10 I will be at the salon wednesday through friday

Monday and Tuesday evenings are free (excluding my FPU class 2 hours)

5:00pm - dinner

6:00pm computer time

7:00 bible study

8:00 exercise

9:00 set clothing out for next day and prepare for bed

soon after this I should be sleep. I am trying to get to bed every evening before 10pm. Can't really be productive if you aren't getting enough rest right?

From this challenge I hope to be come physically fit, less stressed, organized, and happy!! Anyone care to join in the challenge let me know and we can work together!

read set go!!!