Foreclosure: How to be more Pro-active to Save your Home

Stopping foreclosure might not always be possible, but if you do nothing at all, you will definitely not be able to stop it.

If it is the difference between keeping hope alive, and keeping your home, or just giving up and hiding, choose to be more pro-active if you think you are in danger of foreclosure.

There are many different things that you should consider when attempting to stop a foreclosure. First of all, remember that it has happened to many other people besides yourself. It does not make you stupid, or a bad person, it just means that you need help. You need a reality check, and you need a plan on how to deal with foreclosure.

If you are at least three months behind on your monthly mortgage payments then you are definitely at higher risk of losing your home and there probably will not be anything you can do if you choose to wait until then before ever attempting to be proactive in any way.

If some extra bills have come up and you are already thinking that you might possibly have to put off paying your monthly mortgage payment, go ahead and give the mortgage company a phone call. By taking action before something happens, just when you suspect that it may, you are being proactive.

People who end up in financial trouble for whatever reason who are on their toes are typically the ones that can and will prevent foreclosure on their home.

You must be assertive in trying to make arrangements with your mortgage company because if all you do is sit around and cry about being behind on those monthly payments, they are not ever going to want to speak with you about anything.

Trust me, as unbelievable as it may sound, the mortgage company truly does NOT want you to lose your home due to foreclosure. They really don’t want an empty house that they can’t sell, or will have to sell cheaply. They want regular monthly payments coming in, especially all the lovely interest you are paying them!

Maybe they should have possibly used better judgment whenever they were approving you for any type of mortgage loan and letting you purchase a home through their lending company. They are normally very willing to speak with you to try to work out some sort of solution.

There is no reason at all for you to just wait around for them to call. You can and should make the first move. That will look really responsible to them and they will absolutely take note of that responsible behavior and pro-active attitude,  and will more than likely allow you to tell them the entire story as to why you were late on your monthly mortgage payments.

Once you have discussed your difficult circumstances with them, and hopefully some sort of plan for what to do to make up the arrears, and how soon you think you can do this realistically,  story with them, chances are they will take your suggested payment plan seriously.

If you suggest you will get a second job, or your wife will go back to work part-time, or you show them a well-thought out household budget that you will stick to, then changes are they will be willing  to work out some type of payment arrangement with you, often right on the spot so you can avoid foreclosure.

It does not always work out, but being pro-active is going to get you much closer towards preventing foreclosure than just giving up.

Remember, whenever you are planning a budget, make sure you take care of the most important aspects first–housing, utilities, food, car if you really have no other means of getting to work and tending to your shopping and so on.

Everything else is OPTIONAL, including credit card payments. Can you get some wiggle room there? Get a lower APR on the cards you do have?

A good sound budget may mean tightening your belt for a number of months, but it is better to do whatever you can NOW to possibly stop foreclosure, so that you won’t lose all the equity you have in the home, and lose  everything you have worked so hard for throughout the years just because you have hit a bad patch.

For more information on foreclosure and what you can do to be more proactive about stopping foreclosure, visit:


Credit Card Question, Part 1

Q. I’ve finally learned my lesson when it comes to credit cards. After charging up four credit card accounts and spending four years paying them off, I don’t ever want to see my name on another credit card again. In fact, I want to cut all of them up and close all my accounts. However, my friend says that I should keep the accounts open and keep one card just in case of emergencies. Which one of us is right? And won’t a debit card work just as well?

A. Congratulations on paying off your credit card debt and being so determined never to get in that kind of position again. We are glad that you have found strategies that work well for you to help you manage your money.

However, your friend does have a good point about your credit cards, for a number of reasons.

*Your credit score and credit to debt ratio.
You credit score is in part determined by how much credit you are permitted by financial institutions. If you close all your accounts, you could be lowering your credit score. Therefore, now that your cards are paid off, keep the accounts open, but put the cards in a safe place where you will not be tempted to use them, except in the most dire emergency.

Keep one available with a low interest rate and possibly cash back points and only use if for essentials and items you could not readily pay for in cash, such as online shopping. The key for using a credit card is never to charge more in a month than you can pay off at the end of the month.

*Rewards cards
Some rewards are worth having, such as free airline miles for purchases, but only if you are a great traveller. Otherwise, go for the cash back. Just be aware that studies have recently shown that people who use rewards based cards tend to spend 4% more each time they use it than cards that do not carry such perks. So make your shopping list and stick to it.

Continued in part 2


Why Enterprise Asset Management is Vital for Any Company

In any business organization, enterprise asset management is vital in achieving a greater return on assets. This primarily involves curbing operating costs, maximizing results on periodic asset maintenance, and effective management of capital. In any industry, the employees also need to recognize the importance of asset management, and have the knowledge on a variety of asset maximizing responsibilities.

Asset Management Elucidated

Essentially, asset management in any enterprise involves the effective administration of its physical assets, for the purpose of increasing profits and minimizing downtime expenses. The scope of this administrative function includes activities such as construction of facilities and fixtures, plant and office building design and engineering, production operations, and finally the maintenance of equipment and the replacement of the necessary parts.

As an example, physical assets would encompass machines like computers and printers as well as furniture like desks, chairs, and filing cabinets. Transport systems are also included, as well as cable and plant machineries, in the case of bigger industries. Of course fixed assets would differ depending on the type of industry the organization is engaged in, such as food production, textile, corporate services, or healthcare.

Thus, from the procurement of supplies and tools, operation of machines for production, to the maintenance of facilities, all these should be handled with asset value maximization in mind.

The modern approach to asset management by organizations and entrepreneurs has shifted from the traditional type, which had merely involved short term planning. Today, every organization is taking an active role in ensuring that its asset expenditures and utilities are geared towards achieving longer-term returns. Moreover, asset management is crucial for enterprises that maintain units across various locations or those that utilize fixed assets in different departments within one unit.

Why this type of management is essential

Effective asset management commands importance in the same manner that physical assets play very important roles in the day-to-day operations of any industry. The purchase and the ownership of fixed assets, while very important in any business, require excellent management and maintenance skills. Entrepreneurs for instance, should have a system wherein the cost of owning equipment or expensive machinery is minimized at all times. Poor performance, downtimes, and repairs all add up to the cost of these fixed assets over time.

Machine repairs and equipment maintenance are indeed important for any industry; however these should be effectively carried out so as to not hamper the daily operations of the industry, such as the production processes. Furthermore, whenever equipment or system downtimes happen, this subsequently affects the expenses of the company. Planning and management of assets, costs, and maintenance should all be done to increase the life cycle of the assets and for the business to perform more effectively even in the face of rigid competition.

The Essential Tools in Assets Management

These days, EAM tools are available for complex organizations and industries. These tools provide the best solutions in work and asset management and even asset information management. These are all geared towards helping businesses maintain their plants, maximize equipment value, effectively manage information for sales, and coordinate with production and maintenance personnel for improved quality and competence.

Successful enterprise asset management is certainly a requirement for any industry, especially in todayís rapidly globalizing and extremely competitive business settings. Through this, industry managers, business owners, and company top-level executives will be able to optimize and organize the daily operations of the business for effective performance and profitability.


What Do Asset Management Companies Do

What do asset management companies do? These companies take care of the investments of a client by investing in various schemes.

There are a number of asset management companies to choose from and they offer a wide range of services. Some examples of these include financial investments, production machines, technology and even office furniture and supplies.

When we talk of financial events, this includes the tracking, recording, properly accounting and investing of certain assets so the client will be able to make the most of what they currently have. This may, at times, be risky for the client but there are ways to avoid the risks. The schemes are: fixed income, equity, balanced, money market and commodities. Letís discuss these for a moment.

Fixed income investments are those that will generate a regular flow of income for the investor. This is the safest one around and are usually in the form of government bonds.

Equity has some risks involved because no one has control of the stock market. There are various factors that could make it go up or down such as the performance of the company and other world events. To prevent losses, experts have to study the market, assess the risks and volatility to pick which stock will get the best possible returns. Equity schemes can be done regardless of industry or country so donít feel bad if the US stock market is not doing too well.

Then there is also balanced where the mutual fund company will invest in several assets such as shares, bonds and stocks. The risks are higher here but it may pay off in time especially for those who can afford to wait it out for a few years.

The money market includes trading treasury bills, commercial paper and other liquid securities. You get a certain amount each month because of interest. Safer than equity or balanced but the rate of return is much lower.

There are also commodities. Examples of these include gold and other precious metals, coffee, currencies such as the Japanese Yen, as well as the most talked about issue right now, oil.

Before any decision is made, it is the job of the asset management company to do some research and then pass this on back to the client who will say yes or no.

If new equipment is needed, the asset management company will help the client look around for the best possible one around before buying it. This is very useful when the machines are either damaged or already outdated.

These services begin the moment they are hired by the client so they will be there from the planning stage all the way until the deal has been completed.

Asset management companies have been around for years and you just have to find one that will be able to deliver what you require of them. Before you select one, do some research on your own to see who are the clients and what have they done in the past because you surely donít want to entrust your assets just to anyone who gives you a call.

So what do asset management companies? They help you accumulate wealth by using their expertise. Do you need it? Yes because they are the only ones who can do the job.


Things About Asset Management That You Need to Know

Asset management seems like a fancy term for people who are not much into investing and into business but the truth is, it is something that all people need to survive the rising costs of living and inflation rates.

The concept is actually similar in a way to putting the money that you earn in banks but the difference is, asset management makes use of stocks, mutual funds, properties and bonds to further increase your wealth and assets. You see, putting your money in the bank is not enough. You can only do this for the money that you feel you will need during emergencies. You can put it there and let it earn a small interest, so that you can easily withdraw It when you need it.

For the extra money that you have that you donít really need, invest it. Mutual funds, bonds and stocks yield higher rewards than the measly interests that banksí provide. In just a few years, you can earn half of what you invested, something that you canít do with the bank.

But before you get into asset management and hire yourself a professional, read through the items below to help orient yourself to the field of investing.

1. There are a lot of scams and con artists in the world

Money can make people do things that they will not normally do. This is a fact of life that you need to know before you start hiring somebody to handle your assets and properties. That way, you will be more careful when looking for asset managers.

When hiring somebody, make sure that you have done some background checks on the person first. As far as possible, hire only those that you know personally. If you donít know anyone who can handle your finances, ask the people that you know to make recommendations. Start with your family and friends as they will give you a good recommendation.

But before you hire the guy, set up a meeting first. Even if he or she is recommended by your most trusted friend, you cannot be too sure.

And after you have hired him or her, still take an active part with the investing of your money. Make sure that you are informed about every investment made. Do not give full power to the asset manager to decide on investing issues. Your approval must always be asked before making an investment.

2. Diversify

This is the golden rule that asset managers go by. Diversification means that you need to put investments in more than one product and not in one investment product. The yield can be good but it isnít worth it to risk your entire savings in one go.

If your asset manager has not done this, think twice before continuing the service. The adage “Do not put all your eggs in one basket” holds true for this field. You see, investments can also be very risky. Even those that are considered a surefire success can suddenly fold, leaving you with big losses.

That is why you need to make sure that you have something to fall back on if one investment falls through. If you diversified your investments in asset management, you can still count on your other investments to prop you up on your feet again.

One drawback to certain types of diversification is that some markets are interlocked. For instance, the stock market and bond markets will generally go in opposite directions. So investing in both will pretty much guarantee that if you are gaining in one, you will be losing in the other and achieving zero growth at best. Stocks are generally more volatile than bonds. If stocks drop they will generally lose value much more rapidly than any gains in the bond market.

3. Greed versus Need

In any plan for investing, you should always set clear goals and guide your decisions on what you need rather than what you want. How much risk can you afford? The greater risks must be balanced by a realistic expectation of greater gains but you have to ask yourself if you can afford the great losses that might result.

One crucial aspect in any investment decision is an accurate risk assessment using the best information you can get. But research as you will, there will always be information that you can’t get or circumstances you can’t predict. So your assments will always be inaccurate, perhaps disastrously so.


Software Asset Management


Software asset management is one of the things you can do to ensure that you are on par with the influx of computers and technology in the corporate world. Few people are familiar with the concept of software management, but it is as important as other aspects of asset management in the organization or company.

Software is an Asset

One of the concepts that must be considered as a fact is that software is an asset. It is an asset in the sense that it can make a lot of favorable returns when you install it. At a fairly minimal cost, you will be able to get back what you invested in a particular software, especially if it is in a business setting. The thing about managing software assets is that you must first inherently believe that it is an asset to the company.

What are the software assets popular today?

Some of the more popular software assets today depend on the nature of your company operations. For example, if you are oriented on spatial data, you will find mapping software to be one of your greatest assets. Licenses for highly upgraded and updated software are quite expensive, so they need to be managed more carefully and in full detail. If you happen to be on a software business, the software inventory might be more than just a means of managing your software assets.

How do you manage your software asset?

Software assets may basically be managed by checking out license receipts and the like all over the company’s operations. This way, duplication of purchases are prevented and you will know which software needs more updating than the others. A good record of the software bought will also ensure that you are able to keep track of your expenses when you are purchasing software. You might also consider getting a software that will actually help you manage not just your software assets but all the other physical assets in your company.

Constantly upgrading your software

Aside from taking inventory, part of software asset management is scheduling your upgrades. You must do it quite regularly so that you can be ensured that you get the best of all your software. Periodically inspect if the upgrades are working properly, and replace them immediately if they malfunction in one way or another. These little things may seem insignificant, but nothing beats the frustration of having wasted time because of menial things such as not having the right software when you need it the most.

Software Asset Management in the Organization

In the organization, a unified software asset management strategy is needed to be able to efficiently function with all the right updates needed by the company. If one component is updated and the others are falling behind, this still doesn’t constitute effective software asset management. If you are really serious about getting it all right, all the other components within the organization must support your endeavors of making software asset management a habit.

Salient issues pertaining to Software asset management

Salient issues pertaining to software asset management involve miscommunication on the part of the software asset manager and the other end users of the software. Duplications due to loopholes in the updates of the software inventory may also cause a dent in the integrity of the software asset management system.


Research for Asset Management Do’s and Don’ts


When you are trying to manage other people’s assets, there are things that you must and must not do. Asset management is a very tricky job, since it involves having to go through sometimes private details of the personís life.

Asset management research doesn’t have to be for other people. It is far easier to do asset management research for yourself. To begin with, you will have no qualms whatsoever in getting your own details together.

Asset Management Research Tip 1: Understand the Scope

The very first challenge for a researcher in asset management is to understand not just your goals for conducting research, but also the scope in which you are allowed to operate. Avoid taboos from the very beginning by inquiring the degree of penetration that you can have as far as the pertinent information is concerned. This is crucial because it will dictate the depth of your research. The purposes of the research must also be kept in mind: is it to confirm existing sets of research or to start entirely from scratch? These questions may seem minor but they are important to having a productive set of research.

Asset Management Research Tip 2: Make an objective inventory and update it

When you are trying to make an inventory, make sure that it is updated. The inventory will help you show whatís there to begin with. Having an inventory is a handy tool that will help you address the issues that might come up in an individualís asset management program. Remember that it is usually on a case to case basis, and what might work for one may not necessarily be as effective for another. The objectivity in inventory is also important for it will be a good basis of facts only if it is not selective in nature.

Asset Management Research Tip 3: Deal only with the recent sources

The recent sources will tell you the present state. This is the very first thing that you have to inspect and incorporate in your research. If you have to backtrack more for establishing credibility, read the next tip.

Asset Management Research Tip 4: Observe past circumstances as well for patterns

Patterns may only be found from past recurring experiences. Now, if you are after some intense research on asset management, trailing the past will also be as effective. Pair the findings of the past with the present situation and know its implications for your overall efficiency as a researcher.

Asset Management Research Tip 5: Have a working set of recommendations

The purpose of research is not just simply to report whatís out there. It will also be helpful if there are solutions offered in form of recommendations. Researching for asset management is not just about outlining a list of things that are present in oneís asset bin. It also involves giving the initial directions under which effective asset management may thrive.

Asset Management Research Tip 6: Be flexible for changes that may happen

Research will not tell everything, especially if it is just preliminary research. Changes may still be introduced. A new event may actually challenge your assessments. While there is a limit to editing research works, you may have to design your research in such a way that it will accommodate changes as they come along.