Know Predatory Loan Terms to Protect Your Home, Car, and Paycheck

Predatory mortgage loans are loans that come with high interest rates, and have many hidden fees, charges, and future interest rate increases. They come with adjustable rates that have extremely high caps, or worse yet, balloon payments at the end of the term equal to the original loan, with interest only loans. The predatory adjustable rate loan comes with a low teaser rate to start with, and then skyrockets later. Low information buyers often thought the low teaser rate was at or near the final rate, and were mortified when they received their new adjustable rate payment schedule after a period of time. Read More...

What do foreclosures, groceries and gas have in common?

Foreclosures in America are up, way up this month with
Las Vegas leading the pack. Others in the fast pack of
foreclosures are Miami, Los Angeles, Phoenix,
San Diego, and San Francisco. Those were also the cities
that had the highest price increases during the boom. Now,
the prices in those areas have gone down from -28% to -22.9%
this year. Home prices dropped 15.8% from a year ago.

Groceries are way up, due to increased gas prices. Try
coupons and sales on food to save money.

Gas is slightly down in some areas, but it is still high,
far in excess of what the average American can afford.

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Your Home As Your Retirement Vehicle And Foreclosure Protection

This is my opinion based on observations. Your home can be a
wonderful retirement vehicle. Many of us will pay off our
home in 30 years, or even 20 years. For those of us who will not
pay off our home we can have the balance paid down and in 15 to

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From Surburban Neighborhood to Trailer Park by Foreclosure

A friend of mine owns a landscaping and hauling business in Northern
California. Lately he has been doing a lot of hauling and cleanup.
He was called to a rather nice community in Northern California to
cleanup multiple homes that are in foreclosure. He noticed a long
line of campers up and down the street and asked what was going on.

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Vote Barack Obama For Positive Change In The United States
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Foreclosure Rates Are Reflected In Real Estate Values of Homes Around The Country

Statistics taken from the Conventional Mortgage Home Price Index and published by Freddie Mac and Fannie Mae display the general increase in home values during the recent U.S. real estate boom, and the decreases during the current real estate bust. The statistics compare one-unit detached, single-family homes in each regional division. Foreclosure rates are reflected in the real estate values of these homes in each region of the United States.

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People Finally Swept Up In Mortgage Fraud Arrests
by Msfinancialsavvy.com

In reading about all of the Mortgage Fraud reports I couldn't figure out why
the gangs, mortgage brokers, mortgage lenders, mortgage investors, lawyers and
the like had not been arrested. We saw some of the largest mortgage fraud in
the history of the United States and all that happened is that a few million
innocent homeowners lost their homes and many big cities are now booming with
former homeowners as homeless.

The following is a quote taken from associated press writers
LARA JAKES JORDAN and ALAN ZIBEL, in conjunction with the FBI reports:

Law enforcement officials said their stepped-up focus on mortgage cases aims to combat problems that have grown out of the risky lending practices prevalent until the mortgage market collapse started last year. Officials have identified 10 "mortgage fraud hotspots" nationwide in California, Colorado, Texas, Minnesota, Michigan, Illinois, Ohio, New York, Georgia and Florida.

To people who have committed fraud or are contemplating doing so, FBI Director Robert Mueller said: "We will find you, you will be investigated and you will be prosecuted."

Those named in the cases include housing developers, mortgage lenders and brokers, lawyers, real estate agents and appraisers, said Sharon Ormsby, section chief in charge of financial crimes for the FBI.

In some cases, gang, drug and organized crime investigations have resulted in mortgage fraud cases because such schemes enable criminals to launder money, Ormsby said.

Mortgage foreclosure rescue scams, which promise to help struggling homeowners stave off foreclosure and keep their homes, also have become a major problem, officials said. Typically, unsuspecting owners sign over their homes and then find they are victims of fraud.

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Read Msfinancialsavvy, to avoid such scams

Ed McMahon and His New Found Wealth

Ed McMahon may not have to move out of his Los Angeles
Mansion after all. Rich friends help rich friends, and this
has proven to be true with Ed McMahon. Reportedly, Jay Leno
will be bailing Ed McMahon out of his foreclosure crises.

Now, if we could find a consortium of rich people to help some of
the poor people being put out in the streets with their kids,
this world would be a better place for poor people too.

Get Savvy With Your Money and Your Life

Update On Ed McMahon And His Multi-Million Dollar Foreclosure Home

I saw Ed McMahon and his beautiful young wife on Larry King. He was
to explain why he is $644,000 behind on the note of his $5 million
dollar home at the age of 85. It was basically, well...stuff happens.

He explained with his two divorces, his accident, and well...he forgot
to mention his third beautiful young wife who had to have a $5 million
dollar home as her first house, but that was about it.

Because of his accident he can't work at the age of 85. Wow! who works
at the age of 85 to support a multi-million dollar mortgage. Anyway,
my heart goes out to him, he has my thoughts and prayers. And, if
anything comes out of this let it be a savvy money lesson for all of
you senior gentlemen out there, that some things are not THAT important.
Save your money, live off of your retirement.

Learn More At Msfinancialsavvy's Retirement Investing

Young Women, Older Men, Financial Security and Ed McMahon

Ed McMahan has had a long and successful career as a pitchman
for Johnny Carson and then for the sweepstakes. With his career
came large payouts for his services. But, now his home is in
foreclosure. Then that begs the question; how could he be in
such horrible financial trouble at the age of 85?

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Msfinancialsavvy

Renters Are The New Casualty Of The Foreclosure Crises

We saw many programs on television during the real estate boom,
about flipping houses. Flipping is buying, remodeling, and immediately
selling homes for profit. There were signs posted all over my community,
stating "we buy houses quick". There were real estate meetings

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Buying A Foreclosed Home In 2008 May Or May Not Be A Bargain

In past years buying a foreclosed home assured you that 10 years down the
road you could cash out for a considerable profit. Now, with the current
foreclosure crises buyers are more critical of foreclosed homes and they
should be. The recent real estate boom took the price of homes into
the stratosphere. Now that the...
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