What Is Your “Plan B”?

What Is Your "Plan B"?

 

Many families today, as we all know, are struggling financially.  Many are just one (1) paycheck away from disaster!  Are you one of them?  Do you live paycheck to paycheck?

Have you considered what you would do if you lost your primary income source today?

Unfortunately, most families do NOT consider this scenario and are devastated with the loss of the primary income.

I recently read about four (4) different families who suddenly lost their primary income sources.  Here are a few facts regarding their journeys through their financial devastation.

Family #1

·         Family of six (6)

·         Had a six figure income

·         Husband/father was laid off

·         Family minivan was repossessed

·         Their home is dangerously close to foreclosure

·         The family is living on half of their original income

·         Receiving less than $300 per month in food stamps.

·          The husband/father has applied for more than 60 jobs to no avail.

·         The wife/mother is looking for a part time position to no avail.

Family #2

·         Family of eight (8)

·         Was renting an apartment

·         Family was evicted because the husband/father was laid off

·         Forced to move into a motel due to lack of credit and finances due to eviction.

·         Children began suffering from allergies while living in the motel.

·         Children forced to visit the family Doctor's office a couple times a week due to allergies

·         The parents decided to find somewhere better for their children to live so decided to move to a nicer hotel, which put a strain on their already dwindling savings.

·         Their truck was impounded.

·         Forced to reach out for help at a local mission.

·         The mission assisted the family with the security deposit for another apartment.

·         One year after losing their first apartment the family moved into the new one.

Family #3

·         Family of three (3)

·         Health problems hit the husband/father and he was then only able to work part time.

·         Less than one (1) year later, husband/father was laid off

·         Lost family's health insurance

·         Forced to take a look at COBRA insurance coverage

·         Decided to use COBRA insurance for the husband/father ONLY, due to health problems

·         Wife/mother and child left without any insurance

·         Wife/mother has less income due to the downturn of the real estate market

·         Wife/mother laid off

·         Wife discovers she has a serious, life-threatening, infection and that her life is at stake

·         Wife/mother needs medication and surgery

·         No health insurance means the surgery cannot happen.

·         Family leaves their home and moves to another  state to live with a family member

Family #4

·         Family of three (3)

·         Lost five (5) jobs within one year, between the husband and wife

·         More than 400 job applications placed and hardly a phone call for an interview

·         Husband joins military for job security

·         Family is now confronting a future that will require them to live thousands of miles apart

·          The family now has some financial relief, however the wife now is suffering from an anxiety disorder due to the fact that her husband if going to be deployed overseas soon.

 

Could any one of these four (4) families be you if you lost your primary income today?

What would you be forced to deal with?  Loss of home and/or possessions?  Loss of health insurance?  Loss of your health?

What "Plan B" do you have in place?

Why not begin NOW with a "Plan B"?

Visit Miller Housing Consultants for more information on how to start your "Plan B".

This article is being brought to you by the PJ'S Team at the Miller Housing Group.

For more information on this topic and many more, please visit us here.

"Maximizing Your Housing Experience"

 

Kids and Credit

Do you have kids getting ready to head off to college? Or an 18 year old still in high school?

If you answered yes to either of these questions then there is something that you might need to be on the lookout for; have you had the talk with them yet? Do you know if they are being safe? Yes, I am talking about credit and credit cards. Do you know that the day your child turns 18 they are eligible to get a credit card? Without ever having been told about finance charges, or late payments, or how bad credit can affect them for the rest of their lives.

Here's a situation for you: Your daughter goes out shopping with her friends. She walks up to the counter and the cashier asks "Would you like to sign up today for our charge card and earn 10% percent off your purchase today?" Well why would she possibly say no to an offer like that? Now they have her. She has been hooked into the world of credit. You may not even know that she has a credit card.

Have you talked to your children about this issue? As parents we know that we should have the talk about drugs and of course the talk about "intimate relationships", but now more than ever we must consider the talk about
CREDIT.
I know it can be scary but consider this, if your child has bad credit,
They Might Never Move Out.


Join us as we discuss this over the next few weeks. We will tell you about how to educate your children about the pros and cons of credit, what it means to be a responsible borrower and a good steward of their money, and yours.

This series of articles are brought to you by the Miller Housing Group

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How to Realize YOUR American Dream ...... Home Ownership

How To Realize YOUR "American Dream" ...... Home Ownership

The "American Dream" is to own a home, right?  Whether you build a home or you buy an existing home it is considered to be one of the best investments that you can make for your family's future. 

When owning a home, you want it to be a place where you can relax and be yourself.  There are no "landlord" limitations put on you when it comes to any remodeling or renovating that you would like to do.  (Of course, state and local regulations do still apply.)

For some people, owning a home seems like a dream that may never be realized due to things such as a lack of down payment and/or closing costs, credit challenges, or a lack of enough income to be able to afford the monthly payment on the home that is desired. 

The Miller Housing Group is here to help!

We focus on individuals who desire a home and we assist them in resolving the three issues that have been preventing them from being able to buy or build their "dream home".   

The three issues are, as mentioned above:

 Lack of down payment and/or closing costs

 Credit challenges

 Lack of enough income to afford the monthly payment

Home ownership does not come overnight, however, the Miller Housing Group is here to assist you in gaining access to home ownership.

Is it the lack of down payment and/or closing costs or the lack of enough income to afford the monthly payment that is holding you back from your "dream home"?  If so, the Miller Housing Group can assist you by showing you how to create more income as a Club Member.

Do you have credit challenges that are holding you back from your "dream home"?  We offer access to Debt Counselors who employ experienced attorneys and staff to assist you with Debt Negotiation Services and/or Credit Restoration Services.

Are you willing to begin and follow your journey to a successful outcome? 

OR 

Would you rather continue what you have been doing for years and never realize YOUR "American Dream"?

If you are willing to begin and follow your journey to a successful outcome, the Miller Housing Group is here to assist you.  

We offer an enjoyable and fun experience with a team of experienced professionals who are specialists in their field and are there to assist you in accomplishing your goal.

Please visit us here to begin your journey to Home Ownership.

This article is brought to you by the PJ'S Team at Miller Housing Group.

For more information on this topic and many more, please visit us here.

"Maximizing Your Housing Experience"

Debt Free Without Bankruptcy

Debt Free Without Bankruptcy

It can be EXTREMELY easy to get into debt, as many millions of people have found.  Easy access to cheap credit over the last decade or so, along with a generational shift in attitudes to borrowing, has left huge numbers of people struggling to get by and keep their debt repayments on track.

Of course, the unhappy fact is, for some people, their debt problems are simply too much to handle and they feel as though no solution can be realistically found, and for these unfortunate people bankruptcy is often thought to be the only option.

STOP!  There is a way to become debt free without resorting to such drastic action, although it is not quick or easy, no matter what the abundance of advertisements may insist.  

Please allow me to give you a brief overview of what we at the Miller Housing Group have to offer you, which will assist you in becoming debt free WITHOUT filing for bankruptcy.

Our Debt Counselors employ experienced attorneys and staff to actually assist you with debt settlement negotiations. The negotiating team is comprised of experienced debt negotiation attorneys who will "go to battle" with your creditors to obtain the best possible settlement, on your behalf.

Debt negotiation, not bankruptcy or debt consolidation, is quite possibly the answer for your particular situation. Our Debt Counselors will work hard to help you make an educated decision based on your individual need. Once we have decided together that this is the right path for you, our experienced team of debt negotiation attorneys will fight hard on your behalf to get you back on track towards financial security. We will help ensure that you are able to pay off your debts in as little time as possible by negotiating with your creditors. 

You can count on us to have your best interest in mind when recommending solutions for your personal situation!!

Please visit us here for more information on this topic.

This article is brought to you by the PJ'S Team at the Miller Housing Group.

For more information on this topic and many more, please visit us here.

"Maximizing Your Housing Experience"

The Benefits of a Secured Credit Card

The Benefits of a Secured Credit Card

In our previous article, we gave you Tips to Establishing Credit.  Here are some thoughts regarding the benefits of the secured credit card that we discussed.

We live in a world where many things are purchased online.  There are some places that do not accept checks.  Also, you may not prefer to carry around a lot of cash for security reasons.  Using "plastic" is almost a necessity at times.  Most major credit card companies have realized this dilemma and have come up with a solution called the secured credit card.

The concept of a secured credit card has been almost a saving grace to many.  With a secured credit card you are only spending the money that you can afford to spend and you don't have to worry about extremely high interest rates. The secured credit card enables you to easily order off of the Internet, television, from catalogs, etc.  In addition to these things, you do not have to worry about having your card stolen and thousands of dollars of damage being done to your credit! Since you can only spend the amount of money you placed into your credit card account, there are no fears of overspending. These secured credit cards are accepted where the major credits cards are accepted.

There is no longer a reason you cannot have access to a credit card.  Obtain your secured credit card, apply money to your account and you are ready to use it for whatever purchases may arise.

This article is brought to you by the PJ'S Team at Miller Housing Group.

For more information on this topic and many more, please visit us here.

"Maximizing Your Housing Experience"

HELP! My Creditors Keep Calling Me!

HELP!  My Creditors Keep Calling Me!

Many of us have bad debts and receive phone calls from credit card companies, creditors, debt collection agencies/services, bad debt collectors and recovery companies/agencies. We owe these companies money and they would like to collect it, however there are laws, rules and regulations that all of these companies must follow.  These laws are spelled out in the Fair Debt Collection Practices Act, which can be viewed here.

Please allow me to give you two (2) of, what I have found to be, the least known facts about these Fair Debt Collection Practices Act laws, rules and regulations.

#1 – Credit card companies, creditors, debt collection agencies/services, bad debt collectors, bad debt recovery companies/agencies, may NOT call you before 8:00am or after 9:00pm, local time, at your location.

#2 – These collectors/companies/agencies/services may not contact you at your place of employment if they know or have reason to know that your employer prohibits you from such communications.

Don't let these companies harass you.  Be informed!  Know your rights and hold these companies to the laws that have been put into place to protect you.

The Miller Housing Group is here to assist you in your journey to credit restoration, more income, as well as your housing needs.

This article is brought to you by the PJ'S Team at the Miller Housing Group.

For more information on this topic and many more, please visit us here.

"Maximizing Your Housing Experience"

What Are the Benefits of a Good Credit Score/Rating?

What Are the Benefits of a Good Credit Score/Rating?

There are lots of benefits to having a good credit score today.  Here are just some of those benefits:

 A good credit score/rating makes it easier to purchase a home.

 A good credit score/rating makes it easier to rent a home.

 Saves you money on insurance premiums. (IE: Auto, Home)

 You can get a lower interest rate on things such as credit cards and home loans

 You have more ability to obtain a student loan.

 You can purchase items for your home (IE: Large appliances, furniture, etc.)

The above benefits are just some of the many benefits of having and maintaining a good credit score.

What is a "good" credit score?  That will depend on the standards of the company with which you are trying to obtain credit, however, a score of "700" is considered "good" in most companies.  The housing industry standard, however, is generally "720" or higher.

The highest credit score that can be obtained is "850" and the lowest is "0".  If you have a "0" then this means you have no credit at all and will need to obtain credit in order to start establishing a good "credit name" for yourself.

This article is brought to you by the PJ'S Team at Miller Housing Group.

To read more about establishing credit and much more, please visit us here.

"Maximizing Your Housing Experience"

Tips to Establishing Credit

Tips to Establishing Credit

Some people may say "I don't have any credit.  What do I need to do to begin to get my credit established?"

Here are some ways to do just that.

When I started 20 years ago, trying to establish myself in the credit world, I applied for a $500.00 secured personal loan with a major company who is still doing business today.  My own personal belongings (televisions, furniture, etc.) secured the loan.  I made monthly payments for 12 months, which began my journey of establishing a good "credit name" for myself.  Every month, after I made the payment, this company was reporting to the 3 credit bureaus (Equifax, TransUnion, and Experian) that I made my  payment and that was then showing up on my credit report when it was looked at by other creditors/lenders.   

IMPORTANT NOTE: You MUST make payments on time.  That is CRITICAL when you are trying to establish yourself in the credit world.  You do NOT want to make any late payments because that will be reflected on your credit report and will have a NEGATIVE effect on your credit score.

There are many other ways to establish yourself in the credit world.  Here are just a few suggestions/tips.

- Obtain a "Secured Credit Card".  A secured credit card is a card in which YOU choose your credit limit by depositing an amount of money into an account.  That amount then becomes your credit limit.  (IE: You obtain a secured credit card and place $200.00 into your account.  Your credit limit on this card is now $200.00.)

- Obtain a Cellular Phone.  You will be required to place a deposit on the account since you have no credit score or credit history, however, most cellular phone companies will refund that deposit to you after one (1) year, providing you make your monthly payments on time.  NOTE:  You will need to check with the company to determine what their policy is with regard to the deposit.

- Rent To Own Furniture or Appliances.  NOTE: Make sure that the company you are dealing with reports to ALL THREE (3) credit bureaus.  This is extremely important when you are trying to establish credit.

If you are just beginning to establish credit you need to be prepared to pay a high interest rate on any loan that you obtain.  The reason for this is because you have not proven yourself to be credit-worthy.  The creditor/lender will charge a higher interest rate because they are taking a risk to loan you money when you have no track record of being responsible and paying back what you have borrowed.  Once you have established a good credit rating and credit score, you will be able to obtain loans at a lesser interest rate.

This article is brought to you by the PJ'S Team at Miller Housing Group.

For more information on this topic and many more, please visit us here.

"Maximizing Your Housing Experience"

What is the real advantage of home ownership anyway?

What is the real advantage of home ownership anyway?

I'm so glad you asked. Here are some facts that will help to answer your question. Even considering periodic adjustments in local markets in response to economic conditions, over the long-term, real estate has consistently appreciated by 5-6 percent annually, on a national level, according to economists at the National Association of Home Builders (NAHB). 

That is a huge advantage! Wouldn't you say? 5% may not sound like much, at first, but here is an example from the NAHB's website that will put it into perspective for you: "Say you put 10 percent down on a $200,000 house, for an investment of $20,000. At a 5 percent annual appreciation rate, that $200,000 home would increase in value $10,000 during the first year. Earning $10,000 on an investment of $20,000 is an extraordinary 50 percent annual return." Thus, in only 2 years you would have the same amount of equity as your initial investment in the home.

The same NAHB economists want to point out that, "In contrast, putting that $20,000 down payment into the stock market and getting a 5 percent gain would only yield a $1,000 profit."  Wow, that puts it into perspective! Now I have a question for you.  Where would you rather invest your $20,000?

This article brought to you by the PJ'S Team at Miller Housing Group.

For more information on this topic and many more, please visit us here.

"Maximizing Your Housing Experience"

Is Buying a Home in Today's Economy a Good Idea?

Is Buying a Home in Today's Economy a Good Idea?

Most experts would agree that, as a long-term investment, homeownership is still one of the best investments for individual households. What many buyers don't realize is that housing markets, like all markets, inevitably have their ups and downs.  The real benefits of homeownership are virtually unmatched by any other purchase you can make.

 

Despite the turmoil in mortgage lending, if you have good credit, a job and steady income, (and Miller Housing Group can help you with all three of these things) you will find there is still plenty of mortgage credit to be had at good rates. Rates are running at near historical lows right now, for well-qualified buyers. Based on the information that has just been presented, I would say the answer is a resounding, "Yes! It is still a good idea to buy a home, in spite of the economic challenges of today." That's great news for all!

This article is brought to you by the PJ'S Team at Miller Housing Group.

For more information on this topic and many more, please visit us here.

"Maximizing Your Housing Experience"

Home Buying Tax Tip

Home Buying Tax Tip

Some of you may still not be aware that there is help out there for you, if you'd like to own a home, but haven't had the opportunity to do so, for whatever reason. One of the options comes from the government in the form of a tax credit that appears on your federal income taxes for the 2009 year. The way this works is, if you are a qualified buyer who has not owned the home you live in for the past three years, you may be eligible for up to an $8,000 tax credit if you buy a home on or after January 1, 2009 and before December 1, 2009. There are some states that even have tax credit loan programs to help with down payment or closing costs.

Now, I know it is getting awful close to the end of the year and thus, the deadline to take advantage of this offer, but there is a great need for the government to extend this deadline because many more people would take advantage of this opportunity if they were just told about it and then had more time to act. There have been requests made for this extension from the government, so we'll all keep our fingers crossed and hope they act soon. In the meantime, if you meet the qualifications I referenced above, don't waste another minute.  Start looking around today for your new home!!! The Miller Housing Group is here to help you achieve your dream by helping you get your credit repaired, if it has been damaged by the recent economic situations, and we'll also help you build up your monthly income to afford the payments on your new home. What are you waiting for? Go!!

This article is brought to you by the PJ'S Team at the Miller Housing Group.

For more information on this topic and many more, please visit us here.

"Maximizing Your Housing Experience"

Real Estate Investment Options

There are all kinds of avenues available to those that are considering real estate as a likely method of investing in the future. And why on earth shouldn't you? This is one way that millionaires around the world will agree to build a massive fortune quickly. At the same time, real estate can be a very risky venture for business so you need to have a few more stable methods of bringing in money in order to have a truly diverse portfolio and a better security system for your financial future. Even within the world of real estate investment you will find different manners of investing that each bear different risks.

Commercial real estate is a good place to begin because it is relatively secure when compared to some of the other forms of real estate investing. The drawback with commercial real estate is that it requires a massive investment to begin with. This is something that many real estate investors do not even consider until they have built a sizable portfolio and have plenty of money to risk. It is stable because most businesses that lease from you will want to lease on a long-term basis. This means that when you get clients, businesses prefer to stay in one location as long as possible because it's bad for business in most cases to constantly be on the move, they tend to stay a while.

House flipping. This is becoming a popular form of real estate investing and many people have discovered that this is also a great way to make or spend money very quickly. This is a high-risk venture to say the least but the rewards are equally high when a flip goes well. You will have to decide for yourself if you are willing to take the gamble as house flips are part skill and part luck.

Residential rental properties. Becoming a landlord, while perhaps not as glitzy as owning business properties throughout the city or flipping fabulous properties for instant profits is a great way to work yourself into a rather comfortable retirement. This is a long-term type of real estate investment but the payoffs can be rewarding when all is said and done. For the cautious real estate investor this is a worthy type of real estate investment to pursue.

Pre-construction real estate. Pre-Construction profits are even riskier than house flipping in many instances, particularly as it has become so popular in recent years. The trick with this kind of investment is finding the right property in the right market. If you can get in a city that is about to have a serious housing shortage or is in the beginning stages of a housing shortage (such as a few desert and coastal communities have experienced in recent years) you stand to make quite a fortune for yourself. The problem is that this field is highly speculative and very competitive.

Lease or rent to own purchases can often bring better profits. For many real estate owners this is preferable to straight up renting for many reasons. First of all, those who hope to own their homes are much more likely to take better care of their homes than those who are just renting. This means that even if for some reason they decide to move elsewhere and do not complete the purchase you are less likely to need extensive repairs before you can move along to the next client. You can charge a little more than rent applying a certain amount of the monthly rent to the purchase price or down payment of the home, and you can actually be helping a family that might have hit a trouble spot along the way to achieve the American dream of home ownership.

Real estate investing is a great way to build great fortunes. You must decide where you want to begin your journey into this lucrative field however. Remember that once you've begun your real estate investment career it is a good idea to utilize more than one type of investment for the sake of diversity and spreading the risks, as this is a volatile market at best.

This article brought to you by the Housing Solutions Team at Miller Housing Group

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