Wednesday, November 25, 2009

Happy Thanksgiving !

Friends and Clients,

This week, it is only appropriate to suspend our foreclosure discussion and focus on that which can lift our spirits and challenge our perspective during this wonderful Holiday of Thanksgiving. 

This year, my wife picked up a childrens' book called the History of Thanksgiving.  I recently read it to my kids and it served as a great reminder for me.  I would cite the book but it has since been lost by the little ones (yes I'm blaming them) somewhere in our house - I am sure many of you parents out there can empathize.  Anyway, read through the following summary and don't miss the commentary at the end.

Thanksgiving originated with the Pilgrims, who were Quakers, after they had fled Merry Old England because they could no longer bear the persecution being brought upon them by the King of England.  Incidently the King of England had established a state religion which was not of the Quaker persuasion. 

The Pilgrims left on September 6, 1620 aboard the Mayflower and the journey took 65 days, during which time the Pilgrims ate cold food the entire time and endured numerous other terrible conditions.  One Pilgrim died during the journey due to the conditions aboard the ship.

The Mayflower finally landed at Plymouth, Massachusates, which had been named by British sea Captain John Smith in 1614.  The landing site offered a large brook for fishing and an ideal natural harbor.  The Pilgrims biggest concern was an attack by the local Native American Indians. 

The Pilgrims were ill prepared for the first winter and OVER HALFof the Pilgrims did not survive.  In the spring an Indian by the name of Samoset sauntered into the Pilgrim camp.  The Pilgrims were frightened until he welcomed them in English.  He later brought another Indian named Squanto who spoke even better English and the Pilgrims and Indians began a friendship that lasted about 50 years.   The Indians taught the Pilgrims to survive and thrive in their new environment. At the end of that first summer, food was abundant (sound familiar?).  The Pilgrims and Indians joined in a huge celebration of thanksgiving that was declared "officially" thanksgiving at that time by the Pilgrim Governor William Bradford.  An annual Thanksgiving celebration has endured to this day and in 1863 Thanksgiving was appointed as a national day (Holiday) by none other than Abraham Lincoln.

When I read an account like this (and actually let it sink in) I wrestle with a number of emotions.  I am awestruck at the Pilgrims resolve to launch out into a dangerous, unknown, because they were so driven by the conviction of their faith and the need to be FREE.  I am also convicted at the daily complaints that seem to surface for me over mundane issues like whether my Blackberry is syncing properly.  But most importantly, I think about the Pilgrims' statement in light of our culture today. 

Things appear to be gravitating away from freedom and toward oppression.  With that in mind, I pose the question to you dear friends and clients and I ask myself the same questions.  Are we even willing to inconvience ourselves to protect our precious freedoms, much less risk it all?  After generations of sacrifice by those who in fact give all for freedom, from the Pilgrims to our young men spanning the generations who spilled their blood on battlefields all across this world.  What are we willing to give up in order to preserve the freedoms that we have left, because tyranny and oppression is always lurking to gain a foothold. 

As we give thanks this great Holiday, let us consider and give thanks for all the sacrifices endured by those who came before us so that we could have a seat at this table, and let us ask ourselves what is our role in preserving our freedoms for the generations to come.  

Until next time.

Wednesday, November 4, 2009

Session 5 - Foreclosure Tips Series

Hello Friends and Clients, Greetings on a beautiful Wednesday morning!

Last week we talked about having a plan and the plan must include whether you hope to save your home.  So this weeks topic concerns the most important decision in your planning which is to decide whether you can afford to fight for and keep your property.  In making this determination you should consider a number of questions which are:  1.  Is there any equity in the property?  Equity refers to the market value of your property less the balance owed on all of the liens against it, and, the costs of sale.  2.  Does the property have economic value apart from the equity?  In other words, are there junior lienholders that could seek legal recourse in the event of a foreclosure in which event there would be economic value in stop the foreclosure and selling the property in order to pay off the junior lienholders.  3.  Are you emotionally attached to the property?  Does a strong emotional attachment to the property make losing is unbearable - if so you may have a greater reason to fight for the property.  4.  Are there other factors that may affect your decision such as tax liability if you sell or lose your property in foreclosure?  You may need to seek professional advice concerning any of the above questions but the important thing is to consider and decide early in your planning process.  

I will leave you with this important question - until next time.