Once you have gone through the emotional stress and traumatic process of foreclosure on your home, you may wonder, “hat next?” There is life, a good life in fact, after this financial disaster! First, put it all behind you and begin with a fresh new start. As with other past stumbling blocks in your life, you must learn from them and move forward. Write down what caused you to get in that situation, whether it was from the housing market, a loan you could not possibly have fu

If you are you are having financial problems that lead to foreclosure or short sale, your credit report will tell the story long after you have moved on. What is the impact? Is there a difference in the impact of foreclosure vs. a short sale when you sell your home? Recently, Equifax Canada, the company that produces the credit score used by many lenders to evaluate credit worthiness, offered some surprising answers to these questions – and added some new insights as well. Ba

Ever since the housing bubble burst in 2008, we’ve heard story after story of families losing their homes to foreclosure. The reasons are plentiful, from parents losing their jobs to their adjustable rate mortgages ballooning too high. But a recent article at Money CNN shows that even rich homeowners are facing foreclosure, but they view it as a business strategy. These rich homeowners bought million dollar homes across the country but their reasons for buying mansions aren’t

One of life’s biggest ironies is that there is more help available for those who don’t need it than those who do. The higher your credit score, the lower your interest rate. If you are doing well and have been able to keep your credit score high and your debt low, you will be rewarded with a lower car payment, for example, due to reduced interest even though you could afford to pay more. The person who might benefit from having a reliable new car for one of those $169-a-month