Foreclosure / Bankruptcy Avoidance

As part of my service to homeowners, I often discuss balancing financial issues to keep home maintenance a priority. It is important because the home investment is the single largest investment most people make in there life and over time if the investment is properly maintained substantial returns should be achieved.  

One client requested an evaluation of his home maintenance schedule and costs. We made some corrections and modified his expenditures. He was so pleased with the results he recommended me to his friend. The friend was having some financial issues and was concerned he could lose his home. We met, went over his income and expenditures in detail and made substantial changes in the families spending habits.

I owned several businesses and understand the necessity of working within a budget and maintaining a balanced checkbook. Difficult decisions are required to stay within the confines of a budget.

Often individuals have great difficulty in distinguishing necessities from luxuries. Necessities and luxuries can be dramatically different from one person to another and are often based on perceptions rather than on the reality.  Husbands and wives have experienced financial difficulties because they cannot agree on the there own levels of necessities and luxuries. For example shoes. A necessity, required for daily life. If your occupation is that of a contractor, your shoe necessity may be a work boot, perhaps with a steel toe and if you are a nurse you may need special white comfortable walking sneaker type of shoe. A Wall Street client who was having difficulty making his mortgage payment had $40,000 worth of Italian hand made shoes. He claims it was a necessity for his job and his wife a real estate agent purchased a new high end Mercedes every year, again she claimed necessity.  Often I find that most homeowners have little understanding of the how there paychecks are spent or better yet wasted. Sometimes it is necessary to bring individuals back to reality by adjusting there perception of necessities and luxuries.

I gather income data and analyze spending habits, then present the facts.  When clients are given options and clearly shown the destiny of there poor habits, they often make the difficult decisions for change themselves.  Sometimes additional work is required to help them change their perception. I can help negotiate a balance between necessities and luxuries for family members and recommend specific changes to correct disintegrating financial balances. In addition, I set up accounting checkpoints and review levels monthly or quarterly.

  Due to the economic conditions many homeowners are concerned about the possibilities of losing there homes. I have helped prevent foreclosure and bankruptcies for some of my clients. I am not a financial investment advisor nor am I an accountant. I am not qualified to advise anyone on taxes or tax returns. In fact, I pay my accountant to handle my tax fillings with the IRS every year, for one simple reason, tax laws. There are so many laws and annual changes to the law, only an account could keep abreast without penalty. I employ a grass roots method of accounting. Income must be equal or greater than expenses.  I have found success in home investment, which includes accounting for income and expenses in detail to maintain a balance between investment, necessities and luxuries.  

The key to preventing a disastrous loss is not waiting to get assistance at the last possible moment. It is unfortunate when I am unable to help a client because they waited too long to seek help or to obtain some advice. This is especially true when a timely course correction could have prevented disaster.  A 10 to 30 minute consultation over the phone is offered at no charge.