My Way Credit

RealtyTrac has officially confirmed: You're not imagining it, you are seeing more foreclosure signs these days.  (Though likely few so inadvertently appropriate to the news as the one we show here.) 

One in 171 households fell into foreclos ure during the second quarter of this year, 739,714 homes in all––that's up 121% from the same period last year.  Though the worst of the worst is happening in a handful of states––Nevada, California, Ohio, to name a few––the latest numbers show that 48 states saw a growing number of people who are losing their homes.

Yesterday, the President threw a legislative flotation device to Fannie Mae and Freddie Mac and to hundreds of thousands of homeowners on the verge of foreclosure.  Though help may be on its way to some consumers, the best move yet is to get educated.  RealtyTrac offers Foreclosure Laws and Procedure by State and tips on dealing with foreclosure. 

Bottom line: don't ignore the inevitable.  If you know your options, you might be able to save your home or at least improve a worst-case scenario.

photo credit: joelogon

RealtyTrac has officially confirmed: You're not imagining it, you are seeing more foreclosure signs these days.  (Though likely few so inadvertently appropriate to the news as the one we show here.) 

One in 171 households fell into foreclos ure during the second quarter of this year, 739,714 homes in all––that's up 121% from the same period last year.  Though the worst of the worst is happening in a handful of states––Nevada, California, Ohio, to name a few––the latest numbers show that 48 states saw a growing number of people who are losing their homes.

Yesterday, the President threw a legislative flotation device to Fannie Mae and Freddie Mac and to hundreds of thousands of homeowners on the verge of foreclosure.  Though help may be on its way to some consumers, the best move yet is to get educated.  RealtyTrac offers Foreclosure Laws and Procedure by State and tips on dealing with foreclosure. 

Bottom line: don't ignore the inevitable.  If you know your options, you might be able to save your home or at least improve a worst-case scenario.

photo credit: joelogon

Think you know your spouse?  More specifically: think you know how your spouse handles finances?  A survey reveals (via CNN.com) that you might not. Harris Interactive polled to find that 26% of men and 33% of women in committed relationships admitted to hiding their spending habits from their spouses.

Just like the immortal words of Hank Williams, Sr., "Your cheatin' heart will tell on you"––financial statements keep no secrets. If you think that your significant other won’t eventually notice that you’ve wagered your retirement fund at the races, or that your shoe collection has grown in inverse proportion to your nest egg, it might be time for a reality check. 

No matter what lengths you go to conceal your spending habits from your spouse, the details of your covert spending will eventually emerge.  So here's bit of advice: the sooner you come clean, the better.  Easier said than done to be sure, especially if you've racked up a fair amount of debt, but this is a "pay now, or pay later" situation.  (In case you're wondering, "pay later" is the uglier option in which you'll have less control.  Go with "pay now." Trust us on this one.)

The CNN article notes that some "cheaters" may not even be aware that they're spending in a less than forthcoming manner.  So this is where everyone should ask themselves, whether or not they're indulging in clandestine sprees: Am I routinely blowing our monthly budget with my spending habits?  Am I eroding our long-term goals? 

Note to the spouses who discover their beloveds' fiscal infidelities: Diplomacy, diplomacy, diplomacy is key. An emotional reaction may not solve your financial problems, but a good financial plan can.