If you spend any amount of time watching late night TV, you've come across one of Kevin Trudeau's infomericals where he sells his weight loss cures, natural cures and now his "Debt Cures." Since the average American has 9 credit cards and $17,000 in credit card debt, a book about magically making your debt disappear will appeal to most of us.
Unfortunatley, the merits of this book are severely discounted before you crack open the book because Trudeau has a criminal past. He has scammed people before. If you take a few minutes to read some of the comments on Amazon, you will see that this is mainly what people are focusing on.
I have read the book and think it does provide some useful information in it. It does have some tips and techniques that you may have heard of before. And if you read most personal finance books and get out of debt books, you will see the same thing. There are not too many secrets to getting out of debt that someone has not told us.
You know how to reduce credit card debt - spend less than you earn, pay 2 to 3 to 4 times more than the minimum due on your credit cards, nag your credit card companies about giving you the best interest rates, call to have any fees waived, etc.
In that regard, Debt Cures does not provide any new and groundbreaking information.
On the infomerical, Trudeau also talks a lot about free money from the government. Yes, there is free money available that you never have to pay back however it is not usually given to you so you can pay your bills. You have to do something with the money like help children learn to read or start a business in a rural area.
Oh and the two magic words - identity theft. It is the fastest growing crime in America so yes, you do need to pay attention to it and check your credit report often to make sure you do not become a victim.
Overall, Debt Cures has some value. With the average American $17,000 in credit card debt, one little tip that helps you can easily pay for the cost of the book.
Saturday, November 15, 2008
Kevin Trudeau Debt Cures Book
Work With Lender To Stop Home Foreclosure
Contrary to what some people may believe, most lenders are willing to work with their customers to stop home foreclosure, as kicking people out of their home is not in their best interest. Taking possession of a home is expensive for lenders and most do not want to own a bunch of houses and the expense of repairs as well as sales in the future, despite many legal avenues to recoup all expenses. Lenders usually help homeowners in finding ways to stop home foreclosure, since they are not typically in the home management business.
Obviously, the quickest and best way to stop home foreclosure is to make sure all payments are made on time, according to the mortgage contract. Often times working with the lender will give the home buyer a chance to stop home foreclosure before it is too late, even when circumstances arise that prevent that from happening. Although the process can be halted up to the time the home goes on the auction block, the sooner it is stopped the cheaper and less traumatic it will be.
There are some people who appear to be waiting in the shadows to buy a home that is going through foreclosure, sometimes for their own but usually as an investment. They may seem like they are hoping to benefit from someone else's misery, but if they can buy a pre foreclosure home it may also stop home foreclosure for the benefit of the owner.
Legal Wrangling Not Always Best Defense
While it may be true that some lenders used unethical practices to help people obtain their home mortgage, blaming the lender is not always the best way to stop home foreclosure proceedings. Working with the lender to make arrangements to get caught up on any past due payments while staying current on payments is probably the best way to stop home foreclosure.
However, this may not always be possible and, depending on the amount of equity in the home, obtaining a new mortgage may be an option. By rewriting the mortgage agreement, better rates and lower monthly payments may result and at the same time being able to the stop home foreclosure process.
Taking out a second loan to pay past due payments on the mortgage may stop home foreclosure proceedings in the short term, but there will now be two payments to make and two different lenders that can start the process in the future.
Contrary to what some people may believe, most lenders are willing to work with their customers to stop home foreclosure, as kicking people out of their home is not in their best interest...View more articles at www.foreclosures.jsgenterprises.com