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Friday, October 24, 2014

4 Ways to not cut Costs this Winter


Last week we looked at ways to cut costs in heating so that money could be funneled toward stopping an eviction. This week we’re going to look at some specific ways not to cut costs during cold weather.

·         Most Space Heaters in the Bathroom: Most space heaters are not equipped with proper plugs for use in the bathroom. Due to their close proximity to water, it is best to save the heating for somewhere else in your house.

·         Turning off the heat in your home during the day: Also known as allowing your pipes to freeze and burst. If the temperature is going to be close to freezing, it’s not worth letting things get so cold that you have a major plumbing disaster. Most people recommend keeping your thermostat around 68 degrees throughout the winter.

·         Running a cook stove or BBQ indoors: Cook stoves and BBQs are meant to be burned outdoors where their greedy oxygen sucking capacity can be satiated. Don’t risk a fire, or death by asphyxiation by trying to warm things up the hard way.

·         Getting your duct work cleaned: Cleaning your ducts before winter doesn’t really help your air quality, unless you have mold or vermin problems. Use that money to help better insulate your pipes instead!

Interested in more information on how to stop an eviction?

How to Stop Forclosure Evictions (available now as an ebook on Amazon!) gives essential information that can help stop your eviction today. Note: Renee Patterson’s book focuses on the eviction process in the state of California.

Friday, October 17, 2014

Cold Weather Cost Cuts


Last week we started a series on cutting costs in other areas of your budget in order to redirect funds toward your mortgage to help stop your eviction. As mid-October and the beginning of the cold season draws near today is the perfect time to think about cold weather cost cutting.

One of the biggest money eaters during the winter months is often the utility bill. Cold weather arrives, and the furnace turns on. What can you do to cut costs?

Heating Efficiently


As the cold weather approaches, having a tune up on your furnace may be a cost you’d rather not think about. But, it’s worth checking how long it has been since your furnace has been cleaned. Older houses are often especially bad about having junk built up in the furnace or vents. Sometimes former occupants have had children that have pushed things into the vent system, blocking airflow. The last thing you want is for your furnace to be working extra hard to get past a barrier that shouldn’t be there in the first place. Consider having a professional come give your furnace a cleaning. In addition, some states now offer incentives and financial help if you are interested in installing a more energy efficient furnace.

Heating Effectively


Your furnace does you very little good if your windows or outside doors are left open. As that warm air flows out of your air vents, or that hot water trickles through your radiator, money is flowing out of your pocket and into the utility company. Do your best to seal that hot air into the house. You’d be surprised by how much savings can be accomplished by simply buying and installing a window insulator kit. Many air leaks happen around your window frames, and even the best glass falls woefully short of the insulation of a wall.

A second area to check for insulation is your attic (provided your home has one). Heat floats to the top, and if the roof is not well insulated, then your hot air is floating right out into the winter weather.

In order to redirect your budget to avoid an eviction, cutting costs is a must. Next week we’ll continue to look at ways you can save in one area, to avoid an eviction.

Interested in more? Read Keisha Joseph's book!

 

Friday, October 10, 2014

Cutting Costs

Eviction. No one wants to hear that word, especially when it is being applied to their family. Eviction and financial hardship go hand in hand. Last week we shared a hardship letter template to send with your financial documents to your mortgage holder. In the middle of that letter you’re asked to provide a plan for how you will get back to paying the amount you owe each month. To do that, you need a plan.
  1. Sit down with some writing implements (paper/pencil or laptop or phone)
  2. Write down all your expenses. If possible look over your bank statement that details where your money went last month.
  3. Group the expenses into catagories (example: utilities, housing, clothing, groceries, transportation, internet, cable, health…)
  4. Prioritize your expenses using a scale of 1-5 (1 being essential, and 5 being non-essential)
  5. Write all your category 1 expenses at the top of a new sheet of paper.
  6. Write all your category 2 expenses below the category 1 expenses.
  7. Continue the same way until you have all financial expenses listed.
  8. When you receive your next paycheck, pay first for the category 1 expenses.
  9. Next pay the category 2 expenses.
  10. Depending on the income available pay the next highest available expenses, until you are out of income.

During the next couple weeks we’ll look at some cost cutting options for different areas of your budget. But, in order to take control of your finances, you need to know where your money is going, and what the most important expenses you have are.

Interested in more help avoiding your foreclosure? Check out Keisha Joseph's help book.

Friday, October 3, 2014

A Hardship Letter Template


Creating a Hardship Letter


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One essential document to slow, or stop your eviction is the hardship letter. But, sometimes it’s hard to know how to start, or what to say. You’ll want to direct this letter to your lender. The letter will detail why you have not been able to stay current with your bills.

A Hardship Letter Template


Example of a hardship letter:

Dear Sir:

I am writing today about my home’s foreclosure. My family and I are dependent on this home for professional and educational stability. The loss of our current housing would cause much stress and duress at this time. I would like to discuss a forbearance plan or loan modification that would allow you to continue to receive payments, while allowing me to keep our home.

The reason I have been unable to make my mortgage payments is because (insert specific situation information) In addition to this letter I have included the following documents that show my current financial difficulties:

As you can see, I am unable to make the current payments. I would like to propose a temporary loan modification plan. With my current income I can make a reduced payment of (amount available) from now until (end date). By this date I hope to have (resolution of financial difficulties listed above). By (end date above) I would again plan to pay the previous amount of (amount).

I realize this reduced payment is not the agreed upon terms, but hope that the benefit of the continued influx of some revenue would be of greater value to you than the process of eviction. This is our family’s home. (Members of the family in residence)  and I would be very grateful for your forebearance.

 Thank you for your time and consideration.

Sincerely,

(Your Name)

Further Help to Stop your Eviction


Interested in more information. Get help from someone whose been through the process before!
Keisha Joseph offers more tips in How to Stop Foreclosure Evictions available for Kindle on Amazon.

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