The good news is that there is a way to fight your way back out of debt. The method is that dreaded “B” word that so many seem to steer away from but a budget can really be your friend and not your enemy. Being unwilling to accept what this “B” word can give you in a positive way may lead you to become familiar with another “B” word that you do NOT want to have in your vocabulary: bankruptcy.

So many think they do not have time to make up a budget but if you are serious about facing the issue and taking back control of your finances, then you do not have time not to make a budget.

A budget is simply a written plan to give your expenses direction and usefulness instead of coming to the end of the month with no money left and nothing but question marks where it all went. You work hard at your job and want a comfortable home and security plus the times of needed relaxation. What you do not want is a mental breakdown under the stress and frustration of not having control of where you hard-earned income gets spent on. That is where a budget is a helping hand to guide and direct you in the proper path and you choose how that is going to work for you situation.

For many, a budget carries with it the idea of no more fun and entertainment. Some wives may fear this idea because there are spouses that have used it as a control tool. Numerous husbands also run from this concept because now they will have to be accountable for their spending habits with “the boys” or they might have to learn how to balance the checkbook. Whatever your situation may be, both husband and wife must work together as a team. If both partners put forth a honest effort they will soon be amazed at the renewed vigor and life that will blossom as they work together through this difficulty and come out on the other side with real freedom from the chains of debt.

A budget is simply spending your money with intention instead of letting it just “cover the needs”. It makes sense to understand that before you can make a budget you have to know what the household expenses are. Therefore some a type of accurate accounting system must be in place. There are several easy-to-use programs for home use to choose from that do take a little bit of time to learn but soon it will be second nature. Remember, the goal is to create a budget so you do not have to face bankruptcy down the road. We are going to take back control of our money so our money works for us instead of us working for money debts.

Start by making a list of all your regular expenses as a monthly total. For example, if you just pay an insurance premium once a year then you need to figure out a monthly average to cover that total. List your expenses for housing, utilities, food, transportation, clothing, medical and health, personal items, such as shampoo and soap, recreation (yes, you need some time off for fun). One final column would be the monthly debt payments already in place that you are paying on.

With this total of monthly expenses listed on one side of the page and the total of what your monthly income is on the other, you can quickly see if you are getting farther behind, breaking even or getting ahead. It will take three or perhaps four months to get accustomed to using a budget but by taking a honest and open view of where the money is going you can be able to make a high quality decision on areas where you could cut back or eliminate completely.

One example may be the cable subscription. Is the $89.95 really necessary and being used? That could certainly make one of the minimum credit card payments.

The goal is to determine how much you really need to set aside for each expense and then stick to it. It will not do an ounce of good to have the best written budget only to decide it will be all right to spend twice as much on groceries this month because you want to have the entire neighborhood over for a party. A budget is a wonderful positive tool if properly used.

These are choices the husband and wife can and must work out together. When two are working together as a team, however, greater power can be achieved. Zig Ziglar tells about what happens when Belgian horses work together. One horse by itself can pull 8,000 pounds of weight. Join two horses together and they can immediately pull over 18,000 pounds of weight. That is more than each horse by itself.

By hooking on as a team, pulling together and going by the agreed on budget the light will start to shine at the end of the tunnel once again. In just a few short months you will begin to see some definite improvement in your financial standing. Life in general will take on a brighter tone. By sticking to a working budget you can and will see the last credit debt paid off and then can start applying that same amount to a type of savings plan where the money can start to work for you instead of slaving away to pay interest to somebody else.

That just makes good sense.

You can get all the information you think important into your advertising, regardless of how much there is. However, do not get carried away. You need to keep the readers interest, so be as brief as possible while still including all those important bits of information. As the property owner you can give personal testimony to the things that you particularly like about your property. Its location close to the school, its mechanics pit in the garage or the roomy attic that stores all your treasures. Personal comments can set your advertising apart from professional real estate advertising and can make it more real.

You can put up a good number of photographs to showcase your property. Make them as appealing as possible and choose the best time of day and the best weather conditions to best promote the property. Sometimes a night time shot with all the lights on can look good. Cast a critical eye over the photos before finally making your choice. First impressions count and these pictures will either attract people or turn them away. Make sure that it will be the former.

Video is another exciting option that you could and should employ. It is not that difficult to put something online. In fact if you have young people in the house they may even have used you tube to put a video online before. In fact using you tube is probably the easiest way to get a video online and embedded into your advertising campaign. You can google instructions and video tutorials on how to do it. Give it a try. In fact, if you are skilled in this area you can use you tube as a very effective promotional vehicle to direct prospective purchasers to your property advert.

What are short sale properties?  They are properties that will soon be in foreclosure.  The mortgage borrower cannot make their payments.  Foreclosure is right around the corner.  Homeowners want to avoid foreclosure at all costs.  You may be surprised to hear that lenders feel the same.  Foreclosure proceedings are stressful, lengthy, and costly.  In some instances, a short sale is opted for.  The home is sold before foreclosure.  It is sold for less than the outstanding mortgage amount due.  Typically, this means a good deal for the buyer.

Whether you want to use short sales to make money or save money, preparation is vial to your success.  So, what do you need to be prepared for as a first-time short sale buyer?

To get the run around from mortgage lenders.  A previously stated, lenders consider short sales a foreclosure alternative.  It is their last attempt to avoid it.  Unfortunately, short sales aren’t much better.  Lenders can require delinquent borrower to pay the difference through unsecured, standalone loans, but many simply take the loss.  No one wants to lose money, so you may have to wait and wait.  During this time, the lender is hoping they receive more short sale purchase offers or that the delinquent borrowers come into money.

The possibility of losing money.  As previously stated, short sales present good moneysaving and moneymaking possibilities for buyers.  Typically.  Unfortunately, many properties are financed with two or even three mortgages.  There are also underwater homes, where the borrower owes more than the home is worth.  Short sales mean a loss for lenders, but in these situations the loss is greater.  Always have a property professionally inspected and appraised before the final closing.  To make or save money, only pay less than fair market value.

Constant contact with the mortgage lender or selling real estate agent.  As mentioned above, many lenders give short sale buyers the run around.  In the event that happens, don’t sit back and wait.  Instead, make contact with the representing real estate agent, lender, or both.  If you find yourself waiting after two months, be firm in your stance.  Demand an answer to your purchase offer in two weeks or state you will withdraw your offer.

More waiting.  If your purchase offer is accepted, you may have to wait a few days or even a month to gain access to the property.  One of the reasons why homeowners prefer short sales is because they stay in the property.  As previously stated, short sales can take time.  Some mortgage lenders give a response and start the sale process within a few days, but others wait months on end.  Since there are no guarantees, current home occupants rarely know ahead of time when they need to be out.  The mortgage lender processing the sale may give them a week or more.

Right about now, you may think that short sales are more trouble than they are worth.  They are not, especially when compared to foreclosures.  You deal directly with a professional real estate agent or lender, as opposed to bidding in a fast-paced auction.  You get a property where the current occupants are prepared to leave; they don’t have to be forced from the home.  Yes, buying short sales may be a long and bumpy road, but it is worth the ride for most.

If you are new to buying real estate and want to profit from buying and reselling or buy a cheap first home, please continue reading on a for a helpful list of dos and don’ts for foreclosure short sales.

DO know what short sales are.  You cannot profit from foreclosure short sales if you are unfamiliar with them.  Short sales involve selling a property for less than the outstanding mortgage amount.  For example, if a borrower owes $80,000 on the home, the lender may accept around $70,000 or less.  In dire circumstances, the home’s original value may not even be considered.  So, that $70,000 may buy you a $125,000 home.

DON’T just focus on foreclosures.  First-time homebuyers and new investors make the mistake of focusing only on foreclosures.  Yes, they are your best chance of getting a great deal.  With that said, remember they are not a walk in the park.  Foreclosure proceedings take months or even years.  At foreclosure auctions, there is a lot of competition, which comes from experts in investing and real estate.  Then, you may be left with home occupants who refuse to leave.  Short sales eliminate this problem.  Mortgage lenders and borrowers reach the decision together.

DO actively search for short sale properties.  Unlike foreclosures, information on short sales will not just arrive at your doorstep.  Short sale properties are sold either through lenders or professional real estate agents.  It is easier to spot a lender sold foreclosure.  Lenders are not real estate agents.  They are either selling a short sale or a real estate owned (REO) property, either way you can get a good deal.  Real estate agents may not outright state they are selling a short sale property, but they tend to drop hints.  Look for low priced properties or listing with the phrases “lender approval needed,” or “pre foreclosure.”

DON’T fall victim to short sales for underwater homes.  As previously stated, short sales involve selling a home for less than the outstanding mortgage due.  This should result in a good deal, but not always.  Due to depreciating home values, many borrowers are finding themselves underwater.  This means they owe more than the home is worth.  A typical short sale aims for less than the mortgage.  With underwater homes, the selling price may be more than the home’s fair market value.

DO the research first.  As previously mentioned, short sales for underwater homes aren’t a steal.  In fact, you can lose money.  To prevent this from happening, do the research first.  In fact, real estate buyers should always research.  The home’s last appraised value is public record.  Find it.  Remember, you want a good deal so make sure you are paying less.

DON’T wait forever.  Some lenders drag their feet with short sales.  This is often when a third party investor, such as Wall Street, is involved.  Some buyers are on record as saying it takes months on end to receive a response to a purchase offer.  Don’t wait.  This increases your competition, which may drive up the price.

DO push for an answer.  So, you made a purchase offer on a short sale property, but are still waiting for a lender response two months later.  What should you do?  Of course, you can give up, but push.  Contact the lender directly or the real estate agent in charge of the sale.  State you want the property, but are quickly losing interest.  Plainly state you want an answer in two weeks or else you will withdraw your purchase offer and look elsewhere.  This should do the trick.  In fact, a response may come immediately.

In short, foreclosure short sales are good opportunity for first-time homeowners on a budget or first-time investors looking to turn a profit.  Regardless of which type of buyer you are, do not discount short sales, but do the research first.

When facing foreclosure, one of the first places you should turn to is that of the United States Department of Housing and Urban Development, also known as HUD.  There you will find experts who can help to point you in the right direction.  One direction that you may be pointed to is that of a HUD approved housing counselor.  A HUD approved housing counselor can give you tips on how to avoid foreclosure.  However, if you have reached the point where foreclosure cannot be stopped, assistance on picking up the pieces and finding a new home will be provided.

Another professional that homeowners facing foreclosure should turn is to that of an attorney.  Should you decide to contact an attorney for legal advice, it is vital that you select one who has experience dealing with real estate and foreclosure cases.  As for how a lawyer can help you, they may be able to stop the foreclosure process.  There are a number of ways this can be accomplished.  An attorney can and should be contacted in the event you find yourself a victim of a foreclosure scam or if you feel you are being discriminated against by your mortgage lender.

Although it is best that you seek professional assistance, such as the assistance of an attorney or a HUD approved housing counselor, you may want to turn to those around you.  As embarrassing as it may be to admit that you may lose your home, now is the time to receive support and encouragement from close friends and family members.  In fact, they may be able to help you avoid foreclosure.  Can you borrow money from someone that you know?  If so, just make sure that you pay it back and in a timely matter.

Returning back to seeking professional foreclosure advice and assistance, real estate agents can also be approached.  However, it is best if they are contacted as soon as you notice a problem.  If you suspect you may fall victim to foreclosure, contact a real estate agent immediately.  Before your home enters into the official foreclosure stage, it is known as being in pre-foreclosure.  You can still try to sell your home.  You can list your home as for sale by owner, but the knowledge and expertise of a professional real estate agent can help you sell your home faster.

Out of all of the places that you should turn to seek assistance with avoiding foreclosure, the bank is the most important.  Financial lenders want to avoid foreclosure.  Why?  Because they almost always lose money on the sale of foreclosed properties.  For that reason, schedule a meeting, in person, with your lender.  Make sure you meet with someone who is high ranking in the branch, such as the bank president or the chief loan officer.  If you can prove that your financial hardships are only temporary, do so.  This may help to convince your mortgage lender to give you more time.

The internet can also be used to seek foreclose help and assistance.  When using the internet, it is important to proceed with caution.  You, honestly, never know if what you find online is true.  With that said, many states clearly outline their foreclosure laws and homeowner options on their websites.  You may also find detailed information online from homeowners who have been in the same place as you, facing foreclosure.  Other homeowners may share the ways that they were able to successfully stop foreclosure.  In addition to carefully reviewing all information provided to you, do not pay anything. Foreclosure advice can easily be found online free of charge.