Residential Foreclosure

Most people do not purchase a new home with the intent of ending in foreclosure.  For many, the drawbacks associated with the lender’s action to foreclose are emotionally draining. Once the foreclosure process has been initiated, very few people are able to turn their financial mishap around to salvage their home. It is important to realize during this process there are several foregone conclusions that can impact you and your family for the next few years.

Obviously, once the foreclosure process has concluded, you will be stripped of the rights of homeownership.  The property that once was yours will be owned by the lending institution that wrote your mortgage. Additionally, the lending institution or bank may post a notice of sale or auction on your front door.  This can be an embarrassing moment when facing neighbors or friends. Once the foreclosure process is completed, you will be required to vacate the property you once called home. This can be emotionally devastating for members of your family.

Your return to the housing market will be as a renter. It may be advisable to search and obtain your new rental property prior to the finalization of the foreclosure process.  Many rental property owners and management companies now require a complete credit history screening prior to executing a rental agreement.  Once the foreclosure process is concluded, it will appear on your credit report and this may hinder your ability to obtain rental housing. Taking this into consideration, it is often recommended that you source and obtain occupancy prior to the conclusion of the foreclosure process. It is also important to realize that the negative reporting of the foreclosure on your credit history will remain there for at least ten years.

Another drawback to consider when debating foreclosure is how it may impact your efforts in gaining new employment. Many employers complete a full background screening prior to making an offer of employment. In some cases an offer may be extended, contingent on a successful background screen result.  For certain positions, especially those where handling cash and credit transactions, or performing bookkeeping tasks are required, a credit history may be part of the employment screening process. 

Having the foreclosure listed on your credit history report for ten years may not only impact obtaining a new position.  If your employer routinely screens its current employees and you hold a position that requires a successful credit screen result, your employer may take action ending in your discharge. This also holds true if your continued employed requires a security clearance.  Most security clearances require a successful criminal and credit screening result.  Your current clearance may be revoked or if you are applying for a new clearance, it will be denied. If your position at your current employer requires a specific level of security clearance, you may find yourself facing termination when your clearance is revoked.

All of the aforementioned drawbacks not hold true forever.  Your credit history will improve over time, provided you do not become delinquent with any other creditor. Even under the Fannie Mae guidelines, generally five years after the foreclosure as long as you have resolved all other negative credit issues, you can be considered for a new mortgage.  Do not expect an easy process because the lender will definitely perform due diligence to ensure that you have resolved your financial issues and are able to repay the mortgage note.

Foreclosure is a very serious step, only to be taken when all other options have been eliminated. Beware advertisers who recommend foreclosure proceedings as a method of debt resolution, without prior examination of your circumstances and analysis of alternatives. When foreclosure is the avenue you must travel, realize that the negative impact of this action may make certain aspects of your life difficult to endure, however they are only temporary. Resolving your financial issues and avoiding future delinquencies will eventually result in restoring an acceptable credit rating.

About the author: Melissa Parken is a Senior Editor and SEO copywriter at Precise Authoring Services, a consortium of professional authors. She and the P.A.S. writing team provide expertly written articles, SEO web content, press releases and more for a myriad of global clients.

Here are some simple reminders of ways to approach life that extend past drudgery, beyond the common and rejuvenate the spirit to achieve more than ordinary results.

• Make a difference in the lives you touch. This doesn’t take money, though charitable donations for those who can afford them contribute to ending battles for others. A kind word, positive reassurance and often a hug can brighten another’s day. Acts of random kindness bring moments of joy that are contagious. People will not remember you for the trinkets you’ve obtained, or for what you did – but they will always recall how you made them FEEL!
• Don’t settle for second-rate anything. If a product you purchased is defective, return it and demand satisfaction. If the level of service you receive is substandard, leave and find a provider that excels in customer satisfaction. There is no need to be snotty or arrogant, just take your business elsewhere.
• If you decide to do something – give it all you’ve got! Half-hearted efforts produce mediocre results. If you agree to perform a task, provide assistance or render a service, do it to the best of your ability.
• NEVER make a promise you won’t keep! Empty promises will destroy both professional and personal relationships. You are better off to inform someone that you are unable to assist them, than to make a promise and then not deliver. You word is your badge of honor. Do not tarnish it with broken promises.
• Stand up for what is right and just. If you constantly complain about your political representatives, but you never make it to the polls to vote, then you are enabling the poor representation that you are at odds with. When you recognize something that needs someone’s attention, but you disregard the issue to avoid conflict, then you are again enabling the mediocre standards that you dislike. If you go along with the crowd, even though you disagree with their ideology or methods, you are either an agent with an intelligence bureau or misguided. If you don’t help right the wrongs in this world, then you’re just adding to the pile.
• And, last but not least, END THE PITY PARTY! No one owes you anything; no one else is responsible for your outcome; you are responsible for your actions, your life, your legacy. When you think your life sucks more than the next guy’s, take a trip to the local pediatric oncology unit or visit a hospice center. Some of the most positive people I have met in my life are cancer survivors. There is not a single gender, age, race or ethnicity that prohibits success. They all can boast of someone who pulled themselves up by their own bootstraps and was successful. If you haven’t achieved your desired level of self-realization, then look in the mirror and resolve the issue.

Your probably sitting there, saying to yourself, wow, these are some really tough words. You’re right, they are, they’re supposed to be. No one ever said that life was a perpetual tea party, however, you have the ability to change the outcome and result by modifying your approach. Each day, you should be able to review how many smiles you brought to other’s faces, what you accomplished towards the betterment of mankind and what you did this day with the GIFT of life that was yours.

In the greater scheme of things, you are here but for a short while. Make it count, make your life stand for something besides the mediocre. Leave your footprints in the sands of time, your mark. Touch hearts and minds, make those you interact with feel your warmth, companionship, your love of life. Leave something that will forever say, “I WAS HERE” and made that time count for something.

About the author: Melissa Parken is a Senior Editor and SEO copywriter at Precise Authoring Services, a consortium of professional authors. She and the P.A.S. writing team provide expertly written articles, SEO web content, press releases and more for a myriad of global clients.

It is a truly sad state of affairs when someone must receive a gift, a prize or any object to lure them to charitable action. This holds true on both the personal and on the corporate level. Companies that only consider charitable contributions to non-profit organizations that provide free advertisement or people who only donate their time to charitable events that promise CEU’s, are practicing mediocre philanthropy. True philanthropy is the giving of talent, time or monies for the sole purpose of benefiting mankind without consideration for personal gain.

People and companies should not require enticement to perform acts of philanthropy. Businesses should make efforts to support the communities that their companies benefit from. People, as individuals, should support local non-profits and their neighbors. This does NOT mean that anyone, business entity nor individual, need to strap themselves financially. Companies can organize events, or offer parking lot space to hold events during off-business days without impacting revenue. They can allow communication about charitable events to be distributed to their staff. Individuals have even more opportunities to perform philanthropic acts without touching a penny in their banks accounts. Many organizations need volunteers  to man booths or answer phones or stuff envelopes without it impacting your weekly work schedule. Food kitchens are always in need of volunteers to help prepare and serve meals. Having a true philanthropic focus does not require you to write a check. 

There was a time in this great nation that philanthropy was a given. People knew and helped their neighbors, not for personal reward or recognition, but solely because it was the right thing to do. Sadly, many people now don’t even know their neighbors by name.

There is nothing wrong with wanting to achieve financial independence, to reach one’s goals and be successful. The problem lies when that is the sole motivation for everything you do. There is more to life than attaining wealth and possessions. The self-esteem and levels of satisfaction gained when one performs charitable works solely for the benefit of others is achieved only through philanthropic activity. Any philanthropic act, even the mediocre, is better than not being charitable at all. However, wouldn’t it be a grand world if everyone ignored personal gain and approached all charitable acts solely for the betterment of their fellow man?

About the author:

The Advocate to End Mediocrity often speaks at rallies and fundraising events for non-profit organizations. She has also helped develop, organize and implement philanthropic initiatives for many business enterprises. As a talented, eloquent public speaker, she regularly is booked for speaking engagements at executive leadership conferences, management seminars and for workforce training.

People are not born mediocre! Apathetic environments, at home, at school, socially and in workplaces, create the Petri dish from which the acceptance of mediocrity grows. The acceptance of nominal performance and the lowering of quality standards by managers will allow employees to stagnate and be compensated for minimal productivity. Consumers who tolerate nominal levels of customer service while paying premium prices for products are also fueling the mediocre train that millions are riding. Executives who spend more time trying to motivate managers than develop strategy are also creating environments where mediocrity is king. Parents who reward median and failing grades – ones who don’t involve themselves in their offspring’s education – are just as guilty of condoning the mediocrity that is invading societies worldwide.

Success requires more than a mediocre effort. Mediocrity will not encourage people to think beyond the commonplace, it will not encourage creativity to develop unique solutions to obstacles. In a volatile economy, companies that condone mediocre performance will at best plateau, stagnate or, even worse, fold. The time has come to end the mediocrity that exterminates businesses, creates apathetic cultures and is creating a populace that accepts the ordinary, the average and second-rate performance as an optimum outcome.

Want to revitalize your people?  Are you searching for a professional public speaker that is renowned in the global marketplace for revitalizing workforces, enabling a creative, solution-driven environment? The time is now to develop leadership devoted to achieving the extraordinary, leaders who will passionately strive for excellence. The Advocate to End Mediocrity can help you ignite the spark that will revitalize workforces. This is a public speaker who will regenerate passion, invigorate managers and executives to expand their vision, charge their imaginations and cultivate original, inventive solutions.

This is a professional who has been instrumental as a strategic change agent in refocusing leadership beyond mediocrity, providing stimuli to stagnant businesses and increasing productivity and performance. The Advocate  has acquired a level of expertise in HR risk mitigation, strategic HR initiatives and people-based solutions that have brought companies from downturns back on the path to success. See what program topics are available for your next meeting, conference, seminar or training course.