Home Ownership Matters Preservation Center, Inc: Did You know

Welcome!

Welcome to Home Ownership Matters’ Blog!

Why write this blog?

Quite simply because the time is right. Because I understand where you’re coming from. I have been urged by many students in my training sessions to start a blog for several years. It seemed like a daunting task until I hired my current Marketing Assistant, Heather Meade. Her training and expertise has made this possible at a time when the housing crisis has made it more important than ever that consumers be given basic information to help them make informed choices about so many of the challenges associated with real estate today.

Who is Mildred Wilkins?

I am a foreclosure intervention and loss mitigation trainer, a speaker. I am a consumer advocate who also happens to write. Most importantly, I’m a person, just like you, who has had hopes and dreams and inspirations blow up in my face. I have grown and survived DESPITE those blow-ups. I have lived—therefore I teach.

Writing is our most basic and clearest form of communication. The internet, via such tools as this blog (and website; www.HomeOwnershipMatters.com) has made it possible to reach thousands of folks in real time. I invite you to share my real estate lessons. I love to tell my students; “I’ve already taken the class and paid the price for this lesson. You can listen and avoid having to take it yourself.” I have benefited in other areas of my life from listening to the folks who already did it the wrong way so I could avoid their pitfall. I had no such teachers in real estate, so I had to learn the hard way—MYSELF.

I’ve gone from being born Black and poor to uneducated parents in southern Alabama, to graduating with honors from college, to middle income with a position at Purdue University, to a stay-at-home mom, to a divorcee with two children. I did my 6 months on welfare.

I’ve done most of the wrong things related to home ownership—and survived to tell the story. I’ve purchased several homes. I’ve built a new home ---and walked away at closing leaving thousands in a deposit on the table. I’ve bought without an inspection—leading to disastrous problems being uncovered a few months later. I’ve gone through foreclosure—and ended up with the deficiency judgment to prove I was there. Miraculously, I had not filed bankruptcy until AFTER the judgment for the deficiency on the car ($8 K and the house $28 K were recorded). I filed bankruptcy, started over and rebuilt my credit. I’ve lost a child, gone into depression and destroyed my credit again.

Professionally, I worked as a full-time REALTOR for 10 years in Indianapolis; I’ve helped others to buy their dream home. As a Broker-Specialist for 2½ years for Fannie Mae I sold their foreclosed properties. I was required to participate in the forceful eviction process as a representative for Fannie Mae. I was in charge of clearing out the remains of homes abandoned by folks in desperation when time ran out and the sheriff’s sale was imminent. I’ve written a weekly newspaper column on real estate to address the common concerns and complaints of consumers who don’t know where to turn. I’ve received professional training on Loss Mitigation. I’ve spent hundreds of hours studying laws, regulations, guidelines, pending legislation—all relating to predatory lending, mortgage fraud, foreclosure, bankruptcy, fair housing, appropriate disclosure and other subjects which directly impact our housing issues.

What will be included in this blog?

Each day we will share with you information we consider relevant to home ownership. For the first month or so most of the entries will be related to today’s more urgent housing issues—all those components connected to struggling to make your mortgage payment. We will eventually move on to home maintenance, taxes, insurance, and all sorts of other things, so continue to log on. Read and share. You could be just the answer someone needed today.

Contents:

• Today’s WORD—Will be an attempt to help you learn how to ‘talk bank’. Regular folks seldom know what the bank people are talking about. You hear the words, you may even know the words, but what the words MEAN is a whole other thing. It’s hard to communicate when you don’t know the lingo—Hence, Today’s WORD. Read it, learn it, share it.

• Fast FACTS—It is a basic fact that when you are making decisions, not just when you are purchasing a home, but ALL decisions relating to your finances become housing decisions. For instance, filing for bankruptcy impacts your future housing options. We’ll share some pearls of wisdom related to housing. We’ll make a diligent effort to give you FACTS which are relevant for most of the country. We encourage you to hold them close; treat them like the pearls they are.

• Myths and Misunderstandings—One of life’s cruel realities is that it does not matter how sincere you are—IF YOU ARE MISTAKEN. Too many folks across the country today honestly believed they could refinance out of a variable rate loan before the rate increased. They believed because they were ASSURED by a broker that they could. They believed that the broker was: working in their best interest and regulated by the banking industry. They were wrong on both counts and now they can’t afford the home they love. They misunderstood how brokers and banking work. They did not know the meaning of the word—prepayment penalty. We’ll shed some light on some common myths—clear up a few misunderstandings and prepare you to make better choices. Pass it on!

• Articles from the desk of . . .—will be included about once each week. These articles are slanted toward real estate professionals and many have appeared in REALTOR magazines or Broker-Agent somewhere in the country. Taking a course on the subjects discussed is the best way to become more competent in dealing with today’s transactions but reading any or all of these articles will certainly have a positive impact on your business. There is an ARCHIVE of articles available, FREE, upon request. For the complete list, please e-mail Heather at homeownershipmatters@gmail.com.

• Did You Know?—I didn’t think so. Well, anyway, I thought should share. There are tidbits—mere tidbits—of information which can dramatically change how we operate and therefore, dramatically change our outcomes. I am ecstatic when someone shares such a tidbit with me. Whether ordinary or extraordinary, if I didn’t know then I could not incorporate it into my life. Even if they say “Millie, every body knows that” I will happily say, “I didn’t, until now”. Knowledge is truly a powerful thing–I have always had an immense respect for knowledge. I revel in trying to attain more. I humbly share any I have. Embrace knowledge–whatever the source. Use it—Share it. Benefit from it.

• “Your Real Estate Advisor”—will be resurrected and added to the mix within the next two months. That was the name of the real estate advice column I wrote in Indianapolis for 5 years back in the 90’s. (It is also the name of my second book). We’ll talk about EVERYTHING housing: buying, selling renovating, building, maintaining, remodeling, and losing. Don’t be selfish—share the info—with family, friends, maybe even somebody you don’t particularly like. Make them wonder.

• Give me a “Q”—we’ll take a commonly asked question and provide an answer. Please keep in mind that the answer will be MY answer. By that I mean that what you will get is my opinion. That’s because it’s my blog. I expect you to have different opinions and encourage you to share those. Unlike the “FACTS” section we can have lots of answers to a single question. I am promising neither a rose garden nor THE answer. I promised you AN answer. You mustn’t yell at me. I’m sensitive.

• Riddle of the Day—Since the blog has been revitalized and designed to be totally consumer oriented, it doesn’t seem out of order to add a “RIDDLE of the Day” as a new category. I promise you will find the riddle intriguing and the information enlightening. It would be a fascinating exercise to you to submit riddles (housing related, of course) which you would like to see expanded upon. Submission is easy, email: Heather@MildredWilkinsConsulting.com. Watch for a riddle soon. Share with someone.

Enjoy the blog. It is intended to educate while keeping your attention. The words are all mine. Heather is responsible for everything else. You may reach her by commenting on this blog, or e-mailing homeownershipmatters@gmail.com

HOM Disclaimer/Hold Harmless

The material provided is deemed to be reliable and accurate at the time of publication. However, the subject matter is undergoing almost constant change and you should assume responsibility for current research on procedures, policies, guidelines and changes in the law concerning your housing situation. Trainer has relied upon such sources as the National Consumer Law Center but is NOT an attorney. This information is provided as a community service. Please seek legal counsel to address your specific mortgage or housing situation and to determine your rights and responsibilities. Home Ownership Matters, LLC and contributing author hereby disclaim any responsibility or liability which may be asserted or claimed arising from reliance upon the information provided.

October 13, 2009

Did You know — SwapALease.com

Did You Know?

Swapalease.com

Life Happens….

As a trainer I meet lots of folks who are struggling or real estate professionals whose clients are struggling. One of the challenges being faced by many consumers is what to do about your auto lease when you can’t comfortably afford the payments anymore. You have been relocated by your employer (and you were grateful to just keep a job) or your family expands and you need a new vehicle, or you lost your job or face a cutback in hours. Whatever the situation, it could be any one of a myriad collection of things which means the lease is simply not a good fit financially anymore.

How do you get out of a car lease? What about the thousands of dollars in early termination fees? Must you make the rest of the payments on the lease?

Enter Swapalease.com

The service was initially implemented to help new car dealerships sell a car when the prospective buyer already had a lease and no way to get out of it without facing stiff penalties for early termination or being forced to pay the full amount of the remaining payments. That was 10 years ago and now the service works as an independent connector for folks who want to acquire a lease and folks who have a lease they need to terminate. Out of need, a service is born.

What, exactly, is “Swapalease.com?”

It is an on-line business—a service—which matches folks who want to get out of a lease with folks who wish to acquire a short term (24 months or less) lease. A number of benefits for either side of the transaction—a person acquiring a lease in this way can:

a. Get a lease for less than the standard amount of time which would be required if they went directly to the dealership,
b. Avoid paying the substantial amount typically required up front with a traditional lease
c. Effectively "try out” a car for the remaining term of the lease without having to make a long term commitment.

For the current holder of a lease:

a. Having the opportunity to be released from the obligation without having to pay early termination fees (which can be substantial)
b. Avoiding the requirement to pay the remaining balance on the lease
c. Security of knowing that swapalease has verified the credit worthiness of the party who ‘assumes’ your lease

Other services

In addition to connecting a willing lessor with a happy lessee, other services include originating new leases, transportation and shipping of vehicles, vehicle inspection, various financing alternatives and extended service contracts and warranties (I told you this service was started by car dealers).

I need a….

They probably have it or will have it shortly. Swapalease.com features a wide selection of cars and trucks, from economy to luxury. (For instance, I am considering a sports car but I am not sure I am a “sports car person” after driving 4 door family sedans for most of my life, now the proud owner of a Jeep Liberty Renegade, but I want to switch to something “different”. I may be having a delayed mid-life crisis but I WANT a sport car. I am aggressively looking for the right one on swapalease.com. One I can try for 8-12 months so I can decide if that will be my next purchase or just to have had the experience.

Where to get started?

Visit their consumer-friendly website at www.swapalease.com. You can also contact them at (866) SWAP-NOW (That’s 866-792-7669). They provide instructions in an easy to understand format. Best of luck in shedding your lease—or picking one up—depending on what you need to do.

** I’ll let you know how my sports car search goes.

I am shooting for my birthday, November 15th.

(Please E-mail Heather at homeownershipmatters@gmail.com with any questions, comments or concerns you might have! We appreciate all comments and feedback, so please don't be shy.)

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October 13, 2009

Did You know — SwapALease.com

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About Me

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Welcome!

Blog Archive

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Links of Interest

October 13, 2009

Did You know — SwapALease.com

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