When trying to avoid foreclosure, it comes down to one main thing; you need money to pay your bills on time.  With today’s economy, low paying jobs and lack of available work every penny you earn counts.  It counts towards, keeping or saving your home and giving your family a secure future.

This is my third article on money saving tips to stop a foreclosure.  The first article tells you how you can save several thousand dollars a year on grocery’s, article number two tells you how to save on clothing and this particular article will deal with saving money on car repairs.  If you have a car it doesn’t matter if it’s a couple years or twenty years old — you going to spend money on keeping it in shape.  There are some tips and tricks of the trade though that may help cut down on some of your mechanical expenses.

Get A Second Opinion and Estimate If you were going to a doctor and they told you, that you would need to get this, that and this done; you would probably get a second opinion, before you just jump onto an operating table.  Treat your car the same way; get a second opinion.

By getting a second look at your car by a different mechanic, you can confirm what the first mechanic told you and you can get a second estimate of costs.  This is very important because most car mechanics prices can vary significantly.  One person may quote you $1800 for a job, while a second mechanic may do for only $900.  That is a big difference so it is very important to get a second opinion and estimate on your car’s repairs or maintenance.

Watch Out For Scammers How often have you gone into a car shop to get your oil changed and all of sudden you find yourself buying brake lights or a new spark plugs or a oil filter?  It is always something, isn’t it?  Make sure if someone is examining your car for one thing, they don’t try to up sell you something you may not need.

This is another reason why a second look at your car with another mechanic is important.  Especially if every time you visit your current mechanic for one thing, they prescribe ten things.  See how many times this happens where you do business; if it starts becoming a pattern, it may be time to look for a new mechanic.

Buy Your Own Car Parts Some mechanics have been known to charge a 50% mark up on parts.  This is good chunk of change and worth looking into alternative options for parts.  Even if you don’t know how to do the labor on a car, you can bring the parts you find for a cheaper price to the garage and just pay for labor.

Check out major auto parts stores since they will usually be cheaper then your mechanic’s garage.  Or look in the classifieds if it is a major part because someone may be selling just what you need.  Or possibly, check out a scrap yard and see what they have.  This could just save you several thousand dollars.

Learn To Do Some Of Your Own Repairs There are some simple repairs you can do on your own car, which can end up saving you saving you more than 80% on labor prices.  For instance, if your car light goes out, a dealer will charge your $20 just to change the bulb.  If you buy your own bulb at an auto store it is probably around $2.  Then just do a little online research or look at some auto repair books and learn how to replace the bulb yourself.

So if you have any money concerns or are possibly worried about facing foreclosure in your future, read of the money saving tip articles and make every penny count.  How would you like to have an extra $10,000 in your pocket every year?  This can happen, if you put the time and effort into learning the tricks of the trade.  If your boss offered you a pay increase of $10,000, but you would have to do more work, you would likely take it.  This is same thing, put the work into saving money and you will have more money.

Many homeowners are struggling to keep their homes these days; some are scrimping and saving to continue with their mortgage payments while others are fighting a losing battle and can no longer afford to pay their monthly payment. Regardless of the individual struggle at hand, it is easy to see that many homeowners are in dire need of some help to keep them in their homes.When you have an event happens in your life that is likely to get you behind on your mortgage payments the first thing that you need to do is to contact your mortgage lender. Be proactive; the more that you try to avoid dealing with the problem, the worse it will be. Keep the lines of communication open between you and your lender during the entire process so that you are sure to have all the facts at all times.To free up some funds, cut your spending wherever possible so that you are spending less money on things that aren’t necessary. The less money that you waste on things that you “want”, the more that you can put into the things that you “need”—like shelter.The next step that you need to look into is arranging for housing counselling through the US Department of Housing and Urban Development. Counselling is available through them at a very reasonable cost and can drastically increase your chances of finding a solution to the problem and avoiding a foreclosure. Don’t pay a foreclosure prevention company to help you negotiate with your lender; the counselling available through HUD can help you negotiate with your lender for a very small price. Also avoid any business that contacts you as a foreclosure avoidance company who offers to help you keep your house if you pay them a large sum or require you to sign your home over to them “temporarily” to avoid foreclosure.Don’t be afraid of asking for help if you and your family are struggling to make ends meet and keep your mortgage paid up to date; there are programs out there to help families who are having a hard time keeping up with their payments that greatly increase your chances of working your problems out so that you can stay in your home. Get involved with finding a solution to the problem as soon as you think there might be an issue with your ability to keep on top of your payments to keep your credit in good shape.

Foreclosure is not something that anyone plans. It often happens as the result of unexpected circumstances, such as a job loss or prolonged illness. Or there may be a variety of factors involved. The end result is that you are faced with losing your home and all that you have invested in it . . . but there is a solution.
Selling your home before the bank forecloses can be a way to avoid foreclosure and to recover some of your losses. Though obviously not the option you would choose if you had another, it may be your only chance to move on without major damage to your credit history. Having a foreclosure on your record means that you will most likely have problems qualifying for credit in the future, so selling your home before that happens can be a way to salvage your credit.
You use credit for just about everything these days, from buying a house to leasing a car and qualifying for cable TV! With a foreclosure on your record, you could face serious problems in the future.
Giving up your house is the best option if you find that you simply cannot keep up with mortgage payments. You can then pay off the mortgage and save face with the bank. Until your lender (usually a bank) files a Notice of Default, you may still have other options, but once that notice is filed, the next step is foreclosure, so you need to take action fast.
The lender probably doesn’t want to foreclose, they are more interested in getting their money back and a home sold by a bank often doesn’t recuperate the amount of the loan. It is in their best interest to give you a warning and let you try to solve the problem. Since you will essentially lose everything if you let the bank take your house back, it is also in your best interests to find a solution, not just to save your credit but also your standard of living. Starting over again after a foreclosure is not easy.
Time is of the essence when you are attempting to sell your home before the bank takes it. You will most likely have to price it fairly low because of this, but look for a real estate agent who is confident that they can sell your home fast. Otherwise, you may need to talk to a discount broker who can get the job done quickly, though you won’t make a lot of money. At this point, you may be focusing mainly on paying off the bank and getting a fresh start in your life, without losing all your equity and ending up with a lousy credit report.
If you know that foreclosure is in your near future, you need to start thinking about how to get out of it and save your credit so future home purchases won’t be in jeopardy. Selling your home first, before the bank forecloses, could be the best solution.

It isn’t news to anyone that widespread foreclosures are a large problem in our current real estate market. For many families, it can be unavoidable. However, what many people don’t know is that there is help out there for those facing foreclosure. Here are some things to keep in mind:

•Stay Home – When facing foreclosure, stay in your home. If you vacate your property and something happens to it – whether it be vandalized, struck by lightning or broken into – the bank will likely hold you financially responsible for the damages.

•Stay in the Loop – Talk to your lender. If you feel like you’re going to have trouble making next month’s mortgage payment, let them know. Whenever you phone them, follow up your contact in writing. If your lender is more informed of your situation, they will be better prepared – and perhaps more willing – to work with you.

•Stay Realistic – Remember that lenders are a business and they are always interested in making their money back whenever possible. Ironically, banks are less willing to work with those who have made payments for years and built up equity on their home. In those cases, the lender can simply keep the payments they’ve already received and sell the house quickly for considerably less than it’s worth and still turn a profit. If you haven’t been in your home for very long and you haven’t built up a lot of equity, then your lender might be more willing to come to an agreement that benefits you both.

•Stay Safe – Unfortunately, this market has attracted a slew of dishonest scammers and con artists that prey on desperate home-owners. Always – always – do your research whenever you think about getting help from a company or program. Watch out for anyone who insists on being paid upfront. Don’t pay somebody to do something that you could do for free, such as dealing directly with your lender. The Department of Housing and Urban Development keeps track of legitimate foreclosure-prevention programs. Get a list from them.

•Stay Practical – Not all foreclosure-prevention programs will be the answer to your prayers. Many programs offer one-time solutions, often for a single month’s payment. Carefully think about your situation and make sure that such a temporary solution will really make a difference in the long run. It may just be delaying the inevitable.

Sometimes foreclosure is simply unavoidable but there are many times when help can be found as long as you know where to look. Do your research, call an expert, and find out as much as you can about your options for possibly avoiding foreclosure on your home.

As foreclosures are on the rise, so are the scams that commit to “rescuing” the homeowner from losing their home to foreclosure. These scams just steal your hard earned money, destroy your credit record and eliminate any equity you might have in your home.
These foreclosure con artists use people who are dire financial straits. They know these people are desperate and are grasping at straws for answers to their foreclosure situation. People to target for these scams are not hard to seek out as mortgage lenders publish notices before foreclosing on homes. These con artists read these notices then contact their victims quite often even in person but more commonly by mail, phone or by email. They even go so far as to advertise their services on web sites. They make themselves sound official by giving them impressive titles like “foreclosure consultant” or “mortgage consultant.” They may call their services “foreclosure service or “foreclosure rescue agency.”
If you are facing foreclosure, contact your mortgage lender or any legitimate financial counselor to help you find legitimate options to avoid foreclosure. It is imperative that you carefully check the credentials, reputation and experience of anyone offering to arrange to stop or delay your foreclosure for a fee. The following recommendations can help protect you:
WATCH OUT FOR THESE FORECLOSURE RESCUE SCAMS
Lease-Back or Repurchase Scams – Someone offers to pay off your mortgage and rent you residence back to you. This usually involved signing over the deed of your home to the individual. This will give the person the ability to evict you, raise the rent, sell the house or steal your equity. You are still responsible for the mortgage so if the individual doesn’t make the payment, your house still gets foreclosed on and you face the legal consequences.
Refinance Fraud – Someone acts as a mortgage broker or lender and offers to refinance your loan to a lower payment. They make you believe you are signing the documents for a new loan when in actuality you are signing over the ownership of your home. This opens you up to the situation as above.
Bankruptcy Schemes – Several scams try to abuse the bankruptcy laws. These are complicated schemes, so it is important to always thoroughly investigate anyone offering to help you with your bankruptcy. Anytime someone wants you to sign over ownership of your home, be very cautious.
HOW TO PROTECT YOURSELF FROM SCAMS
Always know what you are signing – It is important that you thoroughly read and understand what you are signing. Obtain advice if a document is too complex. Do not sign anything with blank spaces, errors or incorrect information even if someone promises to fix things later.
Get everything in writing – Verbal agreements are usually not legally binding. It is important that you get any promises or agreements in writing to protect yourself. Be sure to keep copies of anything you sign.
Make your mortgage payments directly to your lender or the mortgage servicer – Do not trust anyone else to make mortgage payments for you.
Be cautious about signing over your deed – Scams quite often require you to sign over your deed. Always get the advice of a lawyer or financial advisor before doing so. You do not want to lose your rights to your residence and any equity that you may have.
Report any suspicious activity to the Federal Trade Commission and to your state and local consumer protection agencies – This helps to prevent others from becoming victims.
HOW DO I FIND LEGITIMATE HELP FOR YOUR FINANCIAL PROBLEMS
Contact your lender as soon as you think you are unable to make your mortgage payment.
Contact a legitimate housing or financial counselor to help you work through your financial problems.