The recent economic downturn has seen a record high in the rate of foreclosures across the nation. Among the highest in such foreclosures has been in the state of Florida. Towards the end of 2010, more than 24% of home loans in the Florida area were in some stage of foreclosure. This has added to the decline of the economy in the state of Florida however new statistics may shed a ray of hope for Floridians in the near future.

According to RealtyTrac, a foreclosure database, one in every 409 FL homes filed for bankruptcy in the year 2010. This has led to Florida having one of the highest foreclosure ratings in the nation.  Florida has been affected severely by the economic downturn and has seen all areas of its economy suffer. Their unemployment rate has been reported at 12% which is three percentage points higher than the national average. In addition overbuilding has caused the real estate market to decline further.

Many homeowners in Florida facing eviction have received small reprieve.

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A piece by British street artist Banksy.

In some ways, picking a bank is a lot like picking a spouse.
You dont commit to one until youve shopped around, checked for hidden costs, trust them with your money and would be willing to share ownership of a home one day. Till debt do you part.
With the recent incidences of banks misusing money, charging unfair or unannounced fees and being irresponsible in lending, its more important than ever that consumers are aware of what theyre getting into before deciding where to keep their cash.  
If youre already banking somewhere, keep in mind that due to new regulations and efforts to make up for lost profits, things will likely changeand it might not be in your favor. But unlike a spouse, youre not committed for better or worse. Read more…

The most common phrase we hear when our clients call is I wish I had called you sooner. Some bury their heads in the sand whilst others ignore things completely, hoping the problems will go away. Burying your head in the sand and ignoring your debts can only make matters worse. To keep your finances in order you need to face them head on. Here are some helpful tips:

Q In April I left a large engineering company to become an equal partner at a smaller consultancy which has been in business, and profitable, since 2007.

My wife and I would like to move to a bigger house and are looking for a mortgage of about 45% loan to value. The mortgage multiple of my profit share, based on past records and profit so far this year, is approximately two to three. We have no debts besides our current mortgage and have overpaid on this mortgage by 25% over the past six years.

I have approached a number of lenders including my current mortgage provider but am unable to get anywhere. The adviser always contacts a senior underwriter who says “no, come back in two to three years”, even before they know how much I am asking for.

I would like to know why they don’t take into account the fact that the partnership is an established business and has been running for four years and why I cannot get a mortgage when the other partners, who are on exactly the same terms and profit share, can?

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Today, people in almost every part of the world are facing financial crises and if not completely that, then at least some form of debt. This is largely due to the downfall of some of the world’s major economies which include the United States, Unite Kingdom, Singapore, Hong Kong and Japan. This has called millions of people to look out for credit solutions which are being provided a few donor firms which luckily managed to remain stable enough even in these drying times. There are different types of solutions and people need to see which one suits them the best.

Some of the most popular kinds include taking a loan and then paying it back either through monthly installments or the entire amount by the end of the month. There are also any companies which offer loans and expect the repayment at the end of the month in full amount but if the loaner does not feel comfortable with the deal, he or she may opt out of paying it back in monthly installments. I

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