Waterfront Lifestyles-Small Town and Country Living on the Lakes in Northeast Indiana

Are You Avoiding Your Lender?

All those phone calls and letters- It is human nature to avoid the unpleasant.  It can be hard to admit when you need help or are unable to live up to the expectations you have set for yourself.  The first step in the right direction is a call to your lender.  Do it today!  Find your monthly billing or coupon book, locate the number, and call your lender. 

Lenders Can Provide Options to Foreclosure

If you lose your home, it is very costly to your lender.  In addition to the loss of anticipated interest income, the foreclosure process is time consuming and expensive.  It is in their best interest to work with you to resolve the problem and keep your loan on track.   The cause of your current financial situation and the possibility of it improving will determine the lender's options which may include:

• Allowing you extra time to make up a late payment
• Spreading missed payments out until they are repaid
• Changing the terms of your loan through refinancing. You can restart the 30 years, change to a fixed rate loan, or lower the interest rate.
• Adding the missed payments to the unpaid balance of your mortgage.

Some financial situations may be due to an unexpected hardship such as unemployment, divorce, illness, accident, death, or bankruptcy.  In these cases, lenders are more likely to be receptive to working out the problem with you and helping you keep your home.

Help Yourself and Maintain Your Good Credit

Sometimes we get so caught up in the situation that we don't realize our options.  If you can't afford to stay in your current home, here are some choices that others have made to help them preserve their good credit:

• Sell your current home and downsize to one that fits your current financial situation.
• Rent your home out to cover the mortgage payments.  If you can't get enough to also cover a rental for yourself, a temporary move into the home of family or friends can help until you are back on your feet.
• Maybe you could stay if you find a roommate and split the mortgage and utility costs.
• If your loan is assumable, find a buyer for your home that will take over the loan.

What If You Owe More Than Your House Is Worth?

The combination of the current housing market, adjustable rate mortgages,  home equity loans, and  little or no down payment loans has put many homeowners in this situation.  If it is impossible to keep up and stay in your home, you have options to foreclosure, but they will affect your credit.  Some can also result in you still owing the bank.  There may also be tax consequences.

• A pre-foreclosure or "short sale" is when the bank agrees to accept less than what is owed in order to avoid the foreclosure process.
• A deed in lieu of foreclosure is when you give back your home without forcing the bank to foreclose.

You Are Not Alone

Sometimes it is comforting to know you are not alone when facing a stressful situation.  If you are facing foreclosure, you are NOT ALONE.   The rate of foreclosure in this country, and in our county, is higher than ever.  Foreclosure has affected many homes and families.  It has hit neighborhoods of small starter homes as well as high priced lakefront properties.  It has hit homes in the city and in rural areas.  Every single one of those homes has a story, a reason the home was lost, and a family that was displaced.

The federal government has a website where you can find out more.  For detailed information on the above topics and contact information for local help, you can visit the Department of Housing and Urban Development.  A good place to start is this page which offers  Help for Homeowner's Facing the Loss of Their Home.

Indiana has a great program that has already helped over 1500 homeowners avoid foreclosure.  They offer FREE confidential financial counseling and can be reached by telephone at 877-GET-HOPE from 8-8 daily.  Or click the photo below to visit their website.

Let Me Know If I Can Help

If circumstances force you to sell your home, I will do everything I can to help you through this process.  If you have questions, feel free to contact me. 

We had an amazing turnout of volunteers on Saturday in LaGrange! The ages of the workers ranged from local high school students to retirees. And the level of construction experience ranged from those who had never picked up a hammer to local tradesmen who make their living at it. Together, the group united for a common cause, and it was a day of teamwork.

While it was a little cool and windy, it never rained. When we arrived at 8:00, only the foundation was in place. We started building walls and nailing down the flooring. The walls went up, then the roof rafters, and then the exterior sheathing. I snapped this at the lunch break.

In talking with people outside of Habitat, I've found that many believe we build these homes and give them to the families. This is simply not true! While our mission is to provide decent affordable housing to those in need; it is a partnership between Habitat and the family. The partner family is required to spend hundreds of hours in what is called  "sweat equity" working on their home and the homes of others. And when the house is complete, they will have a mortgage for the cost of the build. This allows us to fund the next home.

The partner family and their friends were there working with us. And what a difference a day makes! At 5:00, the roof was on and partially shingled, the windows and doors were in, and the front porch was built.

I have to admit I was exhausted at the end of the day, with aches in muscles I had forgotten I had. But, what a rewarding experience! I'm so excited to be involved in this organization! Next we have the siding, insulation, and interior walls. If you can spare a day, or even a few hours, we'll be there again this Saturday at 8:00.  I hope to see you there!

The Peanuts' character Linus believed he would see, "The Great Pumkin rising out of the pumkin patch and flying through the air with a bag of toys for all of the children of the world."

 If the skies are clear this Wednesday in Wolcottville,  what you'll see flying overhead won't be the Great Pumkin...

It's the RE/MAX balloon flying over to celebrate the opening of RE/MAX Results! Join us at our office this Wednesday from 4pm to 7pm at 200 N. Main Street in Wolcottville.

Come early for our FREE pumpkin giveaway!

Register to win a Ballon ride this Spring!

Join us for apple cider, refreshments and more!

Contact Habitat for Humanity today and sign up to help build the 18th HOME in our community. Volunteers are needed on Saturdays starting October 25th.


Prospective Volunteer:

This letter is an open invitation to you to volunteer for the uilding of our 18th Habitat home. LaGrange County Habitat for Humanity is asking for your help. This volunteer organization relies on volunteer labor to build houses within LaGrange County for those people who could not otherwise afford to own a home. We need volunteers to help Tammy Greene and her three children in the building of their home in LaGrange at 316 North Sycamore St. Habitat relies on volunteers, donated materials, and donated funds. We have the funds available to build their home. Now we need your help. We will be working on Saturdays. Workdays will start at 8:00 a.m. and stop at 4:00 p.m. We have a break a.m. and p.m. and lunch will be served at approximately 12 noon with devotions before lunch. Please join us in this Christian ministry and join the Habitat team and make a difference in our county. If you have questions please contact me at 854-2777 (home ph #) or 463-8519 our Habitat phone number.


In Partnership,


Ted Strawser

Volunteer Construction Coordinator


Schedule

October 25th Framing (50 volunteers needed)

November 1st Siding, Insulation, Windows, Etc. (25 volunteers needed)

November 8th Interior walls, Finish siding (25 volunteers needed)

December 6th Painting, preparation and priming (12 volunteers needed)

December 13th Interior Painting (12 volunteers needed)

January 3rd Interior Trim and hanging of interior doors (6 experienced volunteers)

January 10th Interior Finishing touches (12 volunteers needed)

January 17th Final touch ups and cleaning (8 volunteers needed)


Mont Arnold
Executive Director
LaGrange County Habitat for Humanity
109 E. Central Ave. Suite 1
LaGrange, In. 46761
Ph. # 260-463-8652
montarnold@lagrangehabitat.org

September 2008

(Numbers in parentheses are average list prices). As of September 30th, 2008, there are 335 homes currently for sale (162,141). They have been on the market for an average of 187 days. 74 are lakefront (278,859). 33 homes are channelfront (168,230), 92 are on ski lakes (258,579) or lakes with access to ski lakes (176,442). 51 on non-ski lakes (151,612) 36 have association or deeded access (101,456). 191 homes have no lake access (127,784).

In September 2008, there were 24 homes sold with an average sold price of 103,543. They spent an average of 149 days on the market, and were listed at an average price of 111,716. There were 48 new homes listed for sale this month at an average list price of 151,495.

PC's for Youth in LaGrange County

If you are upgrading to a new system or have an old computer you no longer use, make a donation to PC's for Youth in LaGrange County. Your donation will help a young person in our community. 

I received an email from a young man requesting donations of computers, laptops, and the accessories used with them for a local not for profit organization he belongs to. Three local students are making use of these donated items by refurbishing them, clearing the personal data, and donating them to students who otherwise would be without access to these important tools of learning. They are also accepting monetary donations which are used to further the cause.

The following information was included in his email, and you can find out more about this group by visiting the PC's for Youth website.

Their slogan is "Helping to bridge the digital divide in our community", and so far they have given away 25 computers!

"Mission Statement:

At PC's For Youth, we believe that having access to and properly using a computer for educational purposes can dramatically increase the educational development of a child. We also recognize the fact that not all children have access to computers and therefore are at a disadvantage compared to their more fortunate classmates. It is PC's For Youth's mission to provide youth of LaGrange County with computers and knowledge about operating computers in order to increase the educational development of the children receiving these computers. "