Monday, July 26, 2010

Hurricanes and Your Financial Documents

I've lost count of how many times a client has called in a panic after a major storm to say that their papers have been damaged or even destroyed by flooding.  As our local media sends everyone into a  panic at the first sign of trouble, many people tend to focus on buying water and canned goods and they forget about everything else that needs to be done to protect their belongings.

Before you find out you have a major problem to deal with, here are some simple steps to follow to prevent what could be a disaster:

  • If you MUST store your personal papers at home, put them into a water proof self contained box.  A fireproof box isn't much help because these are metal and will rust!  If you are in a position where you need to evacuate, you could return to find your important papers in one soggy mess inside a metal container that did nothing to protect you from flooding.
  • The best way to protect everything you own is to register with an offsite storage company for all your documents.  Scan everything you want to save into your computer and sign up for a service like Carbonite.com.  Letters, photos, certificates, school and health records - whatever you need copies of.
  • Bringing things to the attic or storing on a top shelf probably won't do much good.  Hurricanes do more damage than bring flood waters inside your home.  Your roof and your walls can easily come tumbling down, and attics and top shelves are not the answer.
  • Invest in a safe deposit box in a bank that has a vault!  Vaults must be built according to specific guidelines - they need to withstand severe weather and "catastrophic occurrences"  - think bombs!  In other words, your papers will be safe from hurricanes and from a possible explosion.
These preparations need to be done well in advance.  Don't wait for the 11 pm news to start worrying about your documents!

Thursday, July 22, 2010

Are You Heading into Foreclosure?

You may already have legal proceedings against you and you don't even know it.  Owners of rental property and other types of real estate that are not owner occupied have an additional problem to deal with: you can't be served a foreclosure notice!  By law your lender must send a process server to your home to deliver this chunk of bad news, but there is no law to say they need to hunt you down to hand it to you.  Owners who live elsewhere frequently find out the hard way they are losing their homes, and in many situations, they shouldn't be.

If you have any concerns at all, check your local County Clerk website and look under Foreclosure Notices. If your name appears there, contact a real estate attorney who has experience in foreclosures before you lose everything.

Monday, July 19, 2010

Home Security Scams

Think twice before answering questions about your home security system!  If someone calls to offer you a "free home security system" they may very well be doing nothing more than finding a way to steal you blind!

Read on:  http://bit.ly/bZlOrR

Cell Phone Service Plans - Something to Consider

You might not be a big believer in extended warranties for most products, but when it comes to expensive uber smart phones, you might want to really think about spending those few extra bucks for peace of mind - and maybe a new phone for free!

Read on:  http://bit.ly/c48X6e

Who Needs Life Insurance

The purpose of life insurance has different meanings for different families.  Do you want to leave behind just enough for a burial?  Or do you want to leave a solid foundation so your family can get back on its feet, or maintain the lifestyle they were accustomed to?

Here's a guideline to when and how to buy the insurance you need:  http://bit.ly/cFygIO

10 Steps to Avoiding Investment Scams

We simply can't stress this enough.  If it's too good to be true, run like hell!  Stop trusting someone just because he's a relative, college roommate, or neighbor. 

Prevent your own financial ruin with simple advice:  http://bit.ly/dkGdkI

The Truth about Employment References

This may not be a real "financial" issue, however, employment and our success in finding it, is absolutely contingent on being able to gather excellent employment references.

Read on:  http://bit.ly/cQcywi