Facing foreclosure can be a terrifyingly confusing time. You are filled with doubts, not the least of which is where you and your family will live, and how you can possibly make it after the process is complete. This is a normal reaction, but not a particularly helpful one. If you are facing foreclosure, the most important thing to do is to step back, take a deep breath, and not panic. Even after the foreclosure process starts you still have multiple options open to you- you can probably still save your house. This, however, will be impossible if you do not know exactly where you stand and what courses of action are still open to you. Making a poor decision based on fear or ignorance can be fatal to your cause, so here are a few basic things to remember if you are in this unfortunate (but not intractable) situation.

The most important thing that you can due to improve your chances is to know exactly what your options are, and what the laws in your state regarding foreclosure allow. There cannot be enough emphasis placed on the importance of hiring an attorney with foreclosure experience in your area to both educate you, as well as advocate for you. Since the laws regarding foreclosure differ from state to state (you have different options in Suffolk County Long Island than you do in Broward County in Florida) it is imperative that your counsel is local. Once you speak with your foreclosure lawyer you will have a real, accurate picture of your situation and hopefully some much needed peace of mind.

Another way to improve your situation is to under no circumstances stop making mortgage payments. You are being foreclosed on because you are behind on your payments and the bank has felt the need to take extraordinary action. It is not the end of the process. Chances are that if you keep yourself in a position to have negotiating power with your creditor, the overall outcome of the process will be much more palatable.

You should also never fail to communicate with your creditor. Unless they are a loan shark, they will not yell at you or threaten you unduly. One of the biggest mistakes that people make is to avoid communication to avoid further pain, or to avoid making the situation worse. The quickest way to deteriorate your standing in the foreclosure process is to try to disappear.

Almost equally important as hiring a qualified foreclosure attorney is to not lose hope. There is almost always another option or opportunity to mitigate your losses and begin improving your life. It is also important to remember that the bank does not want your house- they want to recoup the money that they lent to you. Having to deal with taking your house is something that they will take pains to avoid- it makes the process of recovering the money they are owed much more complicated and uncomfortable. Keeping this fact in mind will help you retain hope and continue to look for solutions.

The foreclosure process can be fraught with peril if you approach it the wrong way. Not only is it scary and confounding, but there are also unscrupulous people and scam artists that will try to take advantage of your uncertainty. If, however, you retain competent and knowledgeable counsel, understand your options, and keep your chin up, you can still help yourself attain a positive outcome.

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Some fears regarding the general welfare of the economy and consumer confidence were somewhat eased by the relatively high shopper turnout on Black Friday. Crowds were so large at a Long Island Wal-Mart that an employee was trampled to death when the thousands of shoppers thronged outside broke the doors and rushed in. While shoppers did not spend as much as they have in past years, retailers were reportedly pleased with what was a solid shopping day, and relieved that the gloomiest forecasts did not come to pass. Strong consumer spending, on the surface, bodes well for the economy as a whole. One question that ought to be asked, however, is what impact this allocation of scarce funds toward holiday shopping will have in the following months.

The preceding months have brought us story after story of middle class Americans struggling to remain economically viable and avoid financial ruin. Money is scarce for families all around the nation and the percentage of households struggling just to make ends meet has skyrocketed. The recent decrease in both gasoline and home heating oil prices has created a very positive economic boost for many. Money that even a month ago had to go straight in to commuters’ gas tanks can now go into cash registers around the country. However, the rapid fluctuations in the price of crude oil that have occurred recently must, if we are to be responsible members of this economic community, give rise to doubts that the price relief will last. If crude oil were again to rise past the $150 dollar mark, the retail spending increase would instantly be null.

Even with gas prices at a level that is more comfortable for consumers, families are still making sacrifices. A recent news story described the efforts of some parent’s groups to petition toymakers to cut back on advertising, as many parents cannot afford to keep up with their children’s demands. The parent’s group’s complaints to the toymakers stem from the self described inability of parents to sacrifice their children’s holiday wishes. One parent even went so far as to say that she would commit crimes to give her child a toy that he wanted. With so many parents unwilling or unable to cut back on spending for their children, money must be reallocated within the family budget. Money set aside for mortgage payments will likely find its way into toy store coffers this month, and the result will likely be a spike in home foreclosures in January and February.

The economic stimulus of the Holiday season will, at least in the short term, give a much-needed boost to the economy at large. Retailers will hopefully be able to earn enough to get them through the winter without too many store closures. Where the funds that make this possible come from, however, could make for an even more challenging economic climate in the coming months. Concerns about the source of newfound spending money are valid, and should not be ignored. If these assumptions about where the stampeding Wal-Mart crowd got its money pan out, Nassau County foreclosure attorneys are going to have a busy winter.

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It will not surprise many people that the dismal economic forecast is causing many businesses and individuals to make cutbacks. Middle class Americans are struggling to make ends meet, and the resulting decrease in spending passes their hardship on to retailers, corporations, and other former recipients of discretionary spending. What may be surprising, however, is how widely the ramifications of this pattern may spread. Even professional athletes, who have long been at or near the top of the economic hierarchy, are beginning to feel the pinch.

While the plight of a millionaire may not engender sympathy from those folks packing the waiting rooms of foreclosure attorneys in Suffolk County, it is still worthwhile to examine the emerging trouble of these athletes. Late last week General Motors announced that they were no longer going to be sponsoring Tiger Woods, and while this is not a devastating blow to someone pulling in over 100 million dollars a year in endorsements, it does indicate the state of despair at General Motors. It also likely presages a major modification of professional sports.

Sports agents are having an increasingly difficult time finding endorsement opportunities for their athletes, and likewise team owners are becoming unable to fill ad space at their arenas and stadiums. As consumers struggle, they not only stop purchasing licensed team gear and apparel at high rates, but they also stop pumping as much capital into the companies that advertise with their favorite teams. As the revenue stream dries up, cutbacks must be made at every level along the line.

Team owners who for years counted on a steady influx of advertising dollars may now see their profit margin begin to shrink. As this lack of profitability spreads, we will be far less likely to see players make 10 million dollars a year to sit on the bench. Additionally, as the promise of advertising dollars that caused major battles between networks over broadcast rights for certain sports disappears, it is almost inevitable that the expensive NFL or NBA television contracts will become far less attractive. This will in turn lower the level of exposure that teams and athletes have, which will further diminish their economic viability. Companies are not going to pump advertising dollars into a stadium that will never be on a national broadcast or cable channel, nor into a player who is virtually unknown outside of his local area. The result of this will hopefully be an outreach effort by teams to increase local attendance and enthusiasm. The practices of stations blacking out broadcasts of local teams and owners charging five hundred dollars for football tickets may become a thing of the past. Outrageous salaries will also likely become a historical footnote, which in turn will likely make athletes more accessible to their fans. The fundamental changes that appear to be coming to middle class American workers are going to drastically reshape the economic landscape for years to come. Things that we take for granted may disappear, and things we never thought possible may become normal parts of life. As more people become unemployed, and as less money is available for everyone, even the richest athletes will face drastic changes in their respective worlds. As all unsustainable patterns do, the professional sports financial bubble seems to have burst. –

Okay, we all know we do it: as Americans, we get pretty set in our ways.  We are accustomed to our particular ways of life, and we notice and raise heck immediately when a change is made.  While at first this might seem like a detrimental factor, it is probably something that keeps our country mostly honest and successful.  We all want the good life, and we’ll work very hard to achieve it; whatever that means for each of us as individuals. With that said, it is surprising that more Americans are not aware of the sneaky little marketing and packaging ploys that are being enacted all across the country.  Since our economy began its slide down this long economic hill, some practices have been established that are shady to say the least.  With all this talk about bear markets and bull markets, elephant parties and donkey parties, we’re missing what the wolves are doing. 

Let’s start with the cost and packaging of food as one example.  The wolves know that Americans notice if the cost of groceries increases even nominally.  We depend upon steady prices in order to maintain our budgets.  So when the cost of transportation and other services went up, grocers knew they had to pass on the increases to consumers.  But they had to do it without anyone noticing, and they knew precisely how to do it.  You know the 24oz box of cereal you buy for around $4?  Well, the packaging looks the same, and the price is the same, however, guess what?  It’s now only 20oz.  There’s no notice of this, of course.  Just a subtle change that causes you to wonder why it seems like the box is empty sooner.  But hey, you’re paying the same amount, so for the most part, you don’t notice.  The problem with this complacency is that the grocers have done this just about all groceries.  The normal content of just about everything has been reduced, while the price stays the same.  So as a whole, you’re taking a pretty big hit when you go to the supermarket, considering that you’ll be there again sooner than expected. 

This is not only occurring in the supermarket.  In the car sales industry, there are similar tactics at work.  Take for example traditional deals like $2000 cash back on the purchase of a new vehicle.  This has been a standard incentive at most car dealerships for quite literally decades.  But suddenly, the deal has changed.  That cash back award has been changed to a $1500 gas card.  The wolves figure that because gas is such a prominent topic today they can appeal to our desire to obtain the most “bang for our buck.”  They count on the fact that we won’t consider that we’re getting $500 less; that if we could still get the previous deal, we could buy $2000 worth of gas.  In this, the wolves are right, because very few people are really noticing.  In fact, gas cards are quite popular incentives with many major and minor purchases now.  So, before you lay your cash down or swipe your card, take a look at the content of what you are purchasing, and look for changes.  It might not make you happy, but at least you will be aware of what’s happening, and be able to account for that in your budget.  This simple step of awareness can be quite beneficial.  Especially for people in high cost of living places like New York, it could go a long way to preventing financial trouble such as a bankruptcy and foreclosure.

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With the holiday season nearly behind us, the news concerning retail sales- considered a health indicator of the economy- is grim. In fact, it could actually be stated that retail sales were predictably stale. Americans have financially battened down the hatches. First, there were the outrageous gas prices that hit hard. We learned quickly to restrict our energy consumption as a result. Gas prices are now exceptionally low, and we are retaining that frugal and conservative state of mind. Grocery prices went up, so we learned how to make food go further. There are plenty more examples demonstrating the ways Americans have changed their views on money. In fact, the most significant adjustment we have made is that we have begun selling ourselves- literally.

With the holiday season nearly behind us, the news concerning retail sales- considered a health indicator of the economy- is grim. In fact, it could actually be stated that retail sales were predictably stale. Americans have financially battened down the hatches. First, there were the outrageous gas prices that hit hard. We learned quickly to restrict our energy consumption as a result. Gas prices are now exceptionally low, and we are retaining that frugal and conservative state of mind. Grocery prices went up, so we learned how to make food go further. There are plenty more examples demonstrating the ways Americans have changed their views on money. In fact, the most significant adjustment we have made is that we have begun selling ourselves- literally.

This trend of selling is blazing a widespread path across the country. Online auction sales are up by record numbers as people race to raise needed cash. Postings for items for sale on sites such as Craigslist have exploded, and even items in states of disrepair are being bought and sold every day. Sites that list items for free have experienced growth in listings and new members that was entirely unplanned for. Companies are selling stock. Luxury items such as paintings and gold are suddenly not as luxurious to Americans as the cash value of those items. Women have flocked to Las Vegas for employment in brothels. Participants in lab or medical experiments are on the rise, as are donors of eggs, plasma, blood, and sperm. Already busy families are starting businesses or finding other means of procuring additional income streams. A story even surfaced recently of an elderly woman selling vegetables from her indoor gardens as a means of preventing foreclosure on a Nassau County home. In summary, we are selling our possessions, our bodies, and our time.

Selling on this level is fairly new for Americans. Categorically, we all possess copious amounts of unneeded, unused, and unnecessary belongings. So why not liquidate them? Those items you’ve had in storage but not touched in years? Sell them. That little-used extra car, boat, or other recreational vehicle? Sell it. An attic or basement full of yard sale worthy items? Liquidate them. It might be difficult at first, but ridding yourself of things that you don’t need or use can be exhilarating. Furthermore, you may be helping someone immensely by offering them your used item at a lesser price than one would have to pay for it new. These lessons are hard ones to learn because we are accustomed to living such decadent lives. However, there is a feeling of empowerment that develops when one conserves, reduces, recycles, reuses, and refuses things that one simply does not need. Being self-sufficient is something to be proud of.

So why not make selling a part of your New Year’s resolution? All those items you have cluttering your house, your garages, barns, and closets, may just bring peace of mind in the form of a cash infusion. To supplement this, you will most likely find that getting organized and cleaning things up will help you to concentrate on what is really important- the health of you and your family. This means your emotional, physical, and your financial health.

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Matt Simmons (Bloomberg): Peak Oil Now, Oil Perhaps to $300 

We all know of the struggles in the Middle East.  These issues have been occurring for thousands of years, and are unlikely to be resolved any time soon.  Although we as Americans have made numerous attempts to create positive change in the region, it often serves to have the opposite effects of what we intended.  Each new administration has its own policies, and each new presidency ushers in new ideas of how to tackle the problems.  In effect, we’ve alienated ourselves from the people of the Middle East because our help is often perceived as meddling.  In fact, it’s nearly impossible to help one group of people in the region without angering and instigating another group.  It’s a very delicate situation.  

As everyday Americans, most of us have no control whatsoever over Middle Eastern policy.  However, this does not mean that we don’t play a role in it.  We elect our officials who appoint other officials and conduct larger elections for even larger and more powerful figures.  We pay our taxes diligently, and we tell those officials where we would like the money to go.  Ours is the most effective democracy that has ever existed, although admittedly we still have a lot of work to do.  However, it should be noted that every time we spend money; indeed, any time we pay a tax of any sort, we are supporting current policy. 

So, let’s say you are someone who lies in New York, and you’re down on your luck.  Perhaps you’ve sought the help of a New York bankruptcy attorney.  What does this have to do with you, you might ask?  How could policies in the Middle East have any impact on what may be an impending bankruptcy?  The answer, as always, is rather simple: money. 

It doesn’t take a Muslim scholar to tell you that our lives are inexplicably tied to oil, and to an even larger extent, petroleum.  We power almost all modern vehicles and large equipment with oil-based fuels.  Nearly all plastics, packaging, and medicine utilize petroleum in some way.  Our entire lives depend upon these dwindling sources of fossil fuels.  And of course, our entire lives depend upon the ability to procure this precious commodity from the Middle Eastern countries that possess them.  So when we create policies that have a negative effect on the oil industry, we all suffer.  When we blunder into affairs without appropriate planning and forethought, it causes everyone that relies on the American economy to cope with the effects.  Who relies on our economy apart from us?  Everyone!  That’s right- almost the entire world depends upon stability in America.

When the price or availability of oil products is compromised, it costs everyone.  This concern is a major component of our economy.  When it goes awry, we feel it in our wallets and bank accounts.  So, if you’re in a delicate situation and may be considering bankruptcy, things could clearly get worse if the price of groceries, fuel, and medicine is increased.  This is why it is important to understand these issues.  Contact your senators or legislators and advise them on your thoughts- that is how change in this country is initiated.  This is crucial, because the Middle East isn’t just “their issue”; it’s everyone’s.

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The economic woes of the United States have been at the forefront of the minds of nearly everyone. Magazines feature countless articles about the deteriorating economy, blogs express frustration and opinions on the bad financial decisions made on Wall Street, and the television reminds us daily that things are going to get worse before they get better. Each month, more and more people are seeking the advice of foreclosure attorneys in Nassau County and Suffolk County. Companies are folding, and jobs are being lost. The price of practically everything is steadily increasing. As Americans, most of us are very unaccustomed to a restricted or severely limited budget. For this reason, there tends to be this general feeling that things are very bad right now in our country. However, this is not the case in reality, and with the holidays upon us, we could all use a reminder of what we still have.

In the next few days, families will be gathered all across the country. We’ll have lovely dinners together, gifts and smiles will be exchanged, and there will be plenty of wonderful holiday parties to attend. We’ll do what we do every year: we’ll stuff our faces with turkey and ham, candies and cheeses; we’ll knock back a few glasses of eggnog, and we’ll spend a little bit more than our budget might allow on gifts for those that we love. And even though we know it will hurt the wallet and the credit card later on, we will take great joy in doing it anyway.

While all these joyous and fun activities are occurring, it might be wise for us to step back and examine what we really have. For most of us, we have our families, and we have our health. We still drive our cars, talk on our cell phones, and retire each night to watch cable or satellite television. We still eat well. Even those whose homes are foreclosed upon have somewhere to go- there are family, friends, shelters, and inviting places all over the country that will house and feed those in need. We still eat out, and the drive-thru lines at most fast food restaurants are still crowded most of the time. We take warm showers and baths; we sleep in warm beds and snuggle with our pets and loved ones. We email and chat, we video-share and play games, and we listen to music. We watch movies and cook popcorn with extra butter; we go out every so often and have a beer or a cocktail. When we see the Salvation Army Santa Clause we drop our spare change in his bucket.

The point is that yes, times are tough. But are they really so bad? We still have just about everything we had before. And if we lost something as a result of all of this, then thankfully we live in a place where we can rebuild if we have the ambition and the drive to. Because the truth of the matter is that we’ve still got it pretty good. All over the world, children and even entire families will suffer and starve while we celebrate with those closest to us. The wars that rage across the world do not stop while we enjoy our holiday fun. So perhaps this holiday season we can all give ourselves a gift that will make us feel much better: we can dig a little deeper in our pockets for charities, and we can realize that we’re going to be just fine.

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Every January, as we begin a new year, we also begin a new period of change. Many of us firmly set New Year’s resolutions for things like weight loss, smoking cessation, and perhaps to eat a more healthy diet. Sometimes we stick to these resolutions, and sometimes we don’t. In the coming year, however, we have unprecedented challenges ahead of us that will require dedication and a desire for genuine change on the part of everyday working Americans. So while it is important to resolve to better your physical and emotional health, it will also be vital to better your financial health. This is especially crucial for the many people that have sought the help of qualified foreclosure attorneys in Long Island. Often, foreclosure can be prevented, and by making some financial changes in the New Year and sticking to them, you may be able to avoid foreclosure altogether.

Part of your resolution plan should be to create a comprehensive budget. Be sure to include all of your expenses: the cost of entertainment, lunches and eating out, gifts for family and friends, clothing, salon appointments- all of these types of items often are not included in a person’s budget, and can account for a vast amount of money. Therefore, don’t just calculate the large items like mortgage payments and insurance. Sometimes, you might even find that those “little” expenses total up to more than some of the bigger ones.

Once you have accounted for every one of your expenses, the next step is to determine ways to reduce or eliminate those costs. For example, many people spend nearly one thousand dollars a year on their morning coffee. To spend several thousand each year eating out is also terribly common. These are two examples of expenses that can be easily reduced, or even eliminated outright. Another common way to reduce expenses is to refinance loans- especially mortgages, student loans, and auto loans. More favorable terms, decreased payments, and decreased interest rates are all ways to produce more disposable income. Consider contacting your credit card companies and negotiating for better terms and rates with them as well.

When finished, your budget will tell you how much disposable income you have available each month. That income can then be used to pay down high interest rate balances, or to pay off debts entirely. Apart from doing this, one of your primary money resolutions for 2009 should be to save money. Consult with a qualified financial advisor about ways to safely grow your money. The truth is that you work hard for your money, so it makes sense to make your money work for you by earning its own interest. Bonds, savings accounts, and CD’s are all great ways to save money for your future and that of your family.

Foreclosure is becoming a dirty word that is being uttered ever so much more frequently throughout New York. From Albany to Long Island, foreclosures are on the rise. In fact, so many people are being foreclosed upon that it is almost becoming normal. All of this is occurring despite our best attempts to alleviate the problem. We have Federal programs for homeowners that are not working, and we have banks granting leniencies on loans and terms that are having a minute effect overall on the amount of people still going through foreclosure. Clearly, the government and banking industry solutions are not working quickly enough.

The vast majority of foreclosures are occurring relative to the devaluation of homes. In short, there are thousands of Americans who are holding mortgage notes that have balances far greater than the actual value of the home. Many have simply thrown up their hands and given the keys back to the bank. However, there are a number of steps that could be taken in order to mitigate these foreclosures. In fact, there are 3 specific avenues a homeowner should explore to combat the devaluation of their home.

Landscaping is a great way to improve the value of your home. Immediately, many people think that this would cost a substantial amount of money. However, there is a great deal of landscaping projects that you can accomplish with your bare hands, a shovel, and a wheelbarrow. You can build walkways and paths around your home and grounds by using stones found naturally on your property. Consider diverting a nearby stream to run along a pathway close to your house. Contemplate transplanting trees from wooded areas to line your grounds, lawn, form a screen, or even a fence. Brainstorm ideas for projects that will beautify your property but cost very little.

Indoor projects can increase home value as well, and often require the simplest of tools: hammers, screwdrivers, a saw, a level, sandpaper, and a little paint. Knock down walls that create a cluttered or cramped atmosphere. Repair, replace, or repaint baseboards, door and window frames, or cabinet doors. Enlist the aid and skills of family members or friends that have construction or design experience. Pay them for a day’s work with refreshing beverages, a beautiful dinner or barbecue, and by offering to help them on projects they may have with their own home.

Consider forming a neighborhood coalition. Talk to the members of your immediate locality about the importance of maintaining and beautifying their properties in order for properties in the area in general to hold or increase their value. As a group, you may be able to create a pool of funds for needed neighborhood improvements, and/or form teams that spend a weekend improving one house or property, another property another weekend, and so on. Together, we are much more effective than separate. Remember- if the value of your neighbors’ homes go up, then it stands likely to reason that your will too.

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In Long Island, foreclosures are on the rise.  In fact, both Nassau and nearby Suffolk counties have some of the highest foreclosure rates in the entire state.  The alarming number of for sale signs and vacant homes evidences this.  For many local families, this means that they have had to “downgrade” to a less expensive home, renting an apartment, staying with friends or relatives, or receiving some type of government assistance.  While experiencing a foreclosure can be tough, there should be a relief in that there is a lot of help available for American families and individuals who need it.  Even for those who lose their home and have very little or no resources, there are always shelters available, food programs, and many types of free assistance.  In fact, we should be thankful that we live in such a country.  In other places in the world, families have no options at all. 

There are foreclosures, so to speak, in Gaza.  But it doesn’t occur after you’ve spent a year or two in a home rent-free while a bank slowly works to evict you.  It’s not when you simply decide a house is too much for you financially and you volunteer to give the keys back to the bank.  In Gaza, a foreclosure occurs when a bomb falls from the sky and obliterates everything you own.  In Gaza, a “foreclosure” often kills entire families.  Communities, relationships, and careers are destroyed all at once.  There is no recourse; there is no legal process or attorneys that get involved to help.  There is no leniency, and there are certainly no banking officials willing to lend assistance after listening to a sad story of economic loss.  In Gaza, a “foreclosure” means that, if you survive, you simply walk away from the rubble and start over with nothing.  You pray that your family, friends, and neighbors were not killed or maimed.  You pray that there will be food to eat, water to drink, and somewhere that you can go.  Desert nights drop down to freezing even in the summer, and those who are displaced often die of exposure.  What’s worse is that sometimes these people die from the desperate acts of others in similar situations.

So Americans should take heart.  A foreclosure is not the end of the world.  In fact, it can often be a fresh start- a way to climb out from under a financial burden that many find to be nearly insurmountable.  In the United States, a foreclosure doesn’t kill anyone.  It doesn’t rob you of life and possessions.  It won’t even put you on the street.  There are always options.  So if you are experiencing a foreclosure, you should feel relieved that nothing truly bad or harmful is going to happen to you.  Your loved ones will be safe, your job will likely be unaffected, and you’ll have somewhere warm to go.  Although it is certainly a difficult process to be foreclosed upon, we should give our thanks that we live in such a place where we can easily start our climb to the top again.  Because for other people around the world, this is simply not the case.  Remember this, and it will help you to keep things in perspective.      

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