A word to renters

What if a forclosure or eviction notice is posted to your door and you know you have been paying your rent on time? What do you do?

Landlords like everybody else have been affected in this economic crisis. Why? Because it is the housing industry that is at the heart of the problem, specifically the banking practices that effect the housing industry. The landlord may have multiple properties. Property taxes are going up dramatically to try and increase county and state revenue. Compounded by that, they may have also been affected by residents that live in the properties they own and have not been able to pay rent due to layoffs, garnishments, and weather expenses.

Sometimes the landlord will get behind on the mortgage payments. If this has occurred the property may be going into foreclosure. Representatives of the bank may be taking photos, and posting notices that you must move out immediately. This is seldom the case however it is unnerving and scary. It is easy to respond in anger or fear without knowing what your rights really are. This is not a good situation for anybody, however, as renters the government has put some protections and help in place for you!

The attached article indicates that Federal law may allow you to continue living in your residence all through the forclosure process and then 90 DAYS AFTER THE FORECLOSURE is finalized or until your lease has expired as long as you continue to pay your rent.

Take a copy of this article and then go talk to a lawyer to find out actually what your rights are:

http://money.cnn.com/2010/02/18/real_estate/keep_kicking_out_tenants/index.htm?icid=main|hp-desktop|dl3|link6|http%3A%2F%2Fmoney.cnn.com%2F2010%2F02%2F18%2Freal_estate%2Fkeep_kicking_out_tenants%2Findex.htm

Not only may you have much more time than you think but if the foreclosure is finalized the new owner may be willing to negotiate a new rental agreement with you so that you don't have to move at all.

This article is not intended to give legal advice. I am not qualified to do so. If you find yourself in this situation consult professionals who are qualified to give you accurate, legal advice.

The Frog and The Scorpion

There was an old children's story something about a scorpion who was wounded and got a frog to let him ride on his back to cross the river. Midstream that old scorpion bit the frog on the back knowing that they would both die. The frog, shocked and amazing asked the scorpion why he would do such a thing. The scorpion responded that the frog should have known he was a scorpion when the agreement was made.

The new credit card rules are here. But, even before they take effect the banks have structured a whole new set of fees and charges.

http://finance.yahoo.com/banking-budgeting/article/108854/the-new-credit-card-rules-what-to-expect?mod=bb-creditcards

So, if you have not already made your personal vow to cut up your credit cards and get rid of credit debt here is another story to remind you why it might be the best idea to do so.

America's Best and Worst Banks

I was so excited to see that a news story was coming out by Forbes that listed the best and worst banks. But alas, again, their analysis was only based on who made the most money. What about customer service? Even before the new credit card laws are in effect the banks have come up with a new list of fees and programs to keep their profits high off YOUR money while continuing to tighten the noose around their customers necks.

Remember it's YOUR money that they are making their profits from. If you are not satisified with the service take your money out. Don't judge a bank by their commercials.

If your bank has treated you well pass the word. If they have not then pass the word even faster.

obamas-move-to-limit-reckless-risks-has-skeptics: Personal Finance News from Yahoo! Finance

obamas-move-to-limit-reckless-risks-has-skeptics: Personal Finance News from Yahoo! Finance

There is no way to talk about banking right now without talking about what is going on at the White house. Whether you are for the legislation or against, it is the news. From repayment of tarp funds to credit card regulations......but of course you know that. It's getting VERY interesting!

Stop the Abuse: It's Time to Break Up With Your Big Bank

There is so much published about the banking industry right now it's hard to keep up. I think there are three topics that are coming into play.

1. Last year's regulations on credit card companies are now coming into play.

2. New legislation commonly known as "We want our money back" is being worked on to recover the remaining balance of 500 million. See Whitehouse.gov for more information. I'm excited about this and hope you are too.

3. Finally, the big banks are continuing to find every out they can to continue to charge unreasonable rates, fees, and interest while continuing to forclose homes and take big bonuses.

A great article:

Stop the Abuse: It's Time to Break Up With Your Big Bank

What banks have you had a good experience with?

Please enter their names in the comments below and I will add them to the list. Thank you.

Credit card's newest trick: 79.9 percent interest - Yahoo! Finance

Credit card's newest trick: 79.9 percent interest - Yahoo! Finance: "Credit card's newest trick: 79.9 percent interest

No other words to describe this. UNBELIEVABLE. Any one who doesn't think that the consumers need some kind of protections have not be reading the news.