Get out of Debt!
Posted: March 5, 2012 Filed under: Charlotte Foreclosures, Charlotte NC Distressed Properties, Enjoy Your Coffee, Real Estate, TeamHolly-would.com | Tags: advice, debt, get out of debt Leave a comment »Get out of debt today! Even though it may sound a bit like a late night infomercial, the truth is that a debt-free lifestyle can be within reach for you and your family. It can all start today.
While there are many families that are truly struggling to make ends meet and who seek out lines of credit to keep food on the table or the lights turned on, there is a large percentage of Americans that simply swipe that plastic and live on a margin.
According to CNNMoney – the average American carries $10,700 in credit card debt and $59,000 in total household debt. That’s a lot of debt!
Now let’s considered student loans. Students today graduate with an average of $25,000 in student loans. Combine that with the current rate of unemployment and we have ourselves a big problem. It’s more important than ever for us and our future to control spending habits to avoid financial troubles.
As a Dave Ramsey Endorsed Local Provider (ELP) – I have a strong distaste for debt. If you are looking for help or more information on how to get out of debt, check out www.DaveRamsey.com. There’s a lot of fantastic free information there to help.
We all know that homeownership is a great way to create long-term wealth and stability for your family. Today’s buyers, however, need to have healthy credit scores (less debt). If you dream of owning a home and want to start creating your wealth, start now by getting out of debt and working on your savings.
It’s been said that it takes 21 days to develop a new habit. Give yourself time to develop this new habit of spending. The first step is to take an honest look at all of your debt and monthly expenses. Compare this to your monthly household income. Are you spending more than you make? If so – it’s time for a real intervention!
Start by paying off the highest interest loans and credit cards first. Don’t ever fall into the trap of making minimum payments. Write out a budget of your monthly must haves: rent, groceries, gas, tuition, and utilities. Look at this every day until you develop your new spending habit.
Sure, it will be an adjustment at first, but then your new spending ways will become habit. Find alternatives to your favorite activities and nip shopping addictions in the bud. It’s not always about having fun. Learn to appreciate what you have, stay away from buying what you don’t need and to keep your goals in mind. Homeownership is a very worthy goal. Make budgeting and paying off debt your top priority and you’ll reach that goal!
If you have any suggestions on free activities to do, please leave them in the comment section!
-Holly
Will The Real 1st Lien Holder Please Stand Up!?
Posted: February 13, 2012 Filed under: Bank Owned Property Tips, Charlotte Bank Owned, Charlotte Real Estate, Enjoy Your Coffee, Real Estate, TeamHolly-would.com | Tags: Avoiding Foreclosure, bank of america, bofa, charlotte nc area, hot mess, Short Sale, Short Sales, Stupid Banks Leave a comment »I have been negotiating a short sale here in the Charlotte, NC area since September of 2011, that’s over 4 months! The buyer has even come up in price to what the bank asked!
Now…..
Bank of America and BB&T cannot agree as to who has the 1st lien on a property! So they are declining the short sale offer that has been in negotiations for 4 months. Instead of working through this situation, BOFA has declined the short sale and is moving towards foreclosure.
It is frustrating to say the least. Many realtors work very long hours and for free and might I add with the hopes of saving a homeowner from a foreclosure. Once an agent is so involved with the short sale transaction, it becomes less about the commission and more about just getting a successful transaction.
There are many passionate realtors that do still care about the client. If only the employees at the banks felt the same. You see, the bank employee gets paid no matter what happens. They even get vacation time, sick days and I suppose a 401k with company matching. ( I am assuming this). They do not have a vested interest or care about the homeowner.
The amount of hours getting transferred to the wrong department, then getting disconnected to redial and start all over again are common for all of us and very exhausting. Then once you escalate the situation the manager is unavailable …meetings about the upcoming meetings or out of office for the next 10 days. It is just a hot mess!
I know I am venting a bit, but if you are reading this and agreeing, then just know you are not alone. More than half my business has been helping families avoid foreclosure.
It is very stressful, but I am trying to help as many families as possible.
www.HollyHelps.com or www.TeamHolly-would.com
I dare you to be Optimistic!
Posted: March 16, 2011 Filed under: Enjoy Your Coffee Leave a comment »
For most of us, it has been a time of surviving, rather than thriving. However, history has a remarkable tendency to deliver prosperity after misery!
Most people know this is not an ideal time to put their home on the market. With the unsold inventory and the foreclosures added monthly, this only hurts today’s sellers. Shadow inventory cannot be ignored either. This is inventory typically being held by the bank and not on the open market or mls. The shadow inventory will be a problem and according to Ali Velshi, it could take years to clear out.
If you think interest rates are more likely to increase than decrease, then buying now trumps waiting for proven house stabilization. Many of my sellers have this attitude and are willing to accept the loss on the sale side and make up for it on the purchase side. Good attitude!
At the end of the day, I get tired of hearing all the speculators about our housing recovery or lack there of. I prefer to end my day feeling tired due to being productive. It is a good feeling when you collapse in your cozy chair with a glass of wine, knowing you did the right thing for someone. It is also a great feeling to know you did not give up, especially when the client was ready to throw the towel in. The never in the “never give up” has more meaning than ever before!
I just know there are boxes and boxes of blessings for all of us; you just have to ask for them.
Falling In Love With The Wrong Home
Posted: February 12, 2011 Filed under: Enjoy Your Coffee, TeamHolly-would.com Leave a comment »At first sight, you can imagine yourself living there…. The long winding driveway to your gated estate, the kitchen is large and inviting; you can smell the beef tenderloin and fancy potatoes baking. Your wife has a chilled, slightly stirred martini waiting for you as you return from a treacherous day at the office. The children are well behaved (and well dressed) while doing their homework in the private study areas each room offers. The Christmas tree is going to sparkle as it fits perfectly in the bay window for all the inquiring neighbors to see. The master closet is the size of another room with separate areas for his and her. (You would not mind hiding in there from time to time) The paneled library with the coffered ceiling and roaring fireplace will be a place to look important while catching up on all the journals you never get to read. And if that is not enough, there is room for expansion!
Then along the way, you lose your job, your equity and can no longer pay the mortgage!
The long winding driveway becomes longer and longer. No more beef tenderloin and just forget about the martinis because the wife has left. Who knows how the kids are doing, they are never around anymore. Forget about the Christmas tree…Master closet is less cluttered; people really do buy clothes on Craig’s list. The library is still a good place to gather thoughts and pound a head against the paneled walls. Instead of expanding, it might be time to just move one.
If this love story sounds familiar, stop pounding your head against the wall and let me help you.
Go enjoy yourself and be grateful if you have a loving family, friends and your health.
We will get through this….I will be your loving realtor!
With love…Team Holly-would
