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WELCOME to LAYMEN'S LAW
"...he that keepeth the law, happy is he."
Proverbs 29:18b (KJV)
"My people are destroyed
for the lack of knowledge,..."
(Hosea 4:6a (KJV)
LOAN MODIFICATIONS and MORTGAGES
I had another topic I planned to discuss this month, but decided to remain with the topics of the day.
There seems to be a glimmer of light at the end of the tunnel as stated by a morning financial anaylst. Loan modifications seem to be one way to the glimmer of light. Before you decide to seek one for your home, try to do a little homework for yourself so you can ask some intelligent questions when you are face to face with a real estate professional. However, if you think your question sounds silly, ask it anyway so you can get a clear understanding. If you wish to take the documents home to read them over before signing---ask to do that as well.
Be careful, be wise!
In today's economy, there is much concern about how someone is going to keep a roof over their head. Paying the mortgage when you are not sure about your job or your spouse's job can cause much concern. First remember, Matthew 6:33 "...seek ye first the kingdom of God and His righteousness, and these things shall be added unto you." What things? The things that concern you. Take the time and study Matthew 6:24-33.
Second, if you are paying your mortgage PLEASE continue to pay. Do not get caught up in the world and play that mortgage game that is being discussed. What do I mean? I have a client who is 2 months behind to inform me when she spoke to her mortgage company they suggested to her NOT to pay her mortgage for several months (about 5 months) and then when they have figured out the modification plan they will work with her to modify her loan.
PLEASE do not get caught in this. There are several reasons. As a child of God, when you owe debt you are instructed to pay that debt. (Psalm 37:21, Ecclesiastes 5:4). I'm sure you believe that, however your concern then becomes what if you don't have it to pay? Be responsible! Call the mortgage company. Continue to call until you talk to someone that will listen. Be proactive. While the government is attempting to help, remember our source of help.
Remember, we do not know the future. No man knows where the economy will be several months down the road. Why play with your stability, your peace? Make sure you have a budget and stick to it. If you have extra money, pay off debt or save it.
Until next time,
Florence A. Bowens,
Attorney and Counselor at Law
E-mail Address:
fabowenslaw@verizon.net
Law Offices of Whitfield & Bowens, PLLC
3020 Pickett Road
Ste. 107
Durham, NC 27705
Telephone:
(919) 402-9700
Fax:
(919) 402-9002
Disclaimer:
The tips, ads and articles found in The B.r.e.a.d. Basket, Inc. and godstouchdowns.org websites should be read with your own discretion and common sense. The B.r.e.a.d. Basket, Inc. and godstouchdowns.org will not assume responsibility for any problems that may arise from anything read in these websites.
This article is intended as a general discussion and should not be construed or used as legal advice or legal opinion. Should you need legal advice or services, please consult your own attorney.
Come back next month for additional suggestions and for you, I am praying.
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