The Senate is about to take on the Helping Families Save Their Homes Act, which is a bill that aims to potentially save 1.7 MILLION homes from foreclosure.

Take 30 seconds to e-mail your senators to say you support the bill.

Think it doesn’t affect you? Think again–this bill could also help preserve more than $300 BILLION in home equity of neighbors who would have to deal with foreclosed houses littering their neighborhood.

Among other initiatives, the bill aims to set in place protections that:

• Allow families to reduce their monthly mortgage payment to 31 percent or less of their income
• Open up refinancing options
• Reduce the loan principle on a home to the fair market value
• Reduce high mortgage loan interest rates

Passage of this bill could mean families get to stay in their homes and banks get paid more than they would have if the home entered foreclosure ~ Sounds great, huh?

But the bill is missing one thing: your support.

Click here to tell your senators and President Obama that you support the bill and you don’t want to see families affected by the recession kicked out on the street.

Pass this on to your friends and family too.

We need everyone to tell their senators they support this bill, but we especially need people in the following states to take immediate action:

• Arkansas
• Delaware
• Florida
• Georgia
• Indiana
• Louisiana
• Maine
• Missouri
• Montana
• Ohio
• Pennsylvania
• West Virginia

Send and e-mail now to your elected officials expressing your support ~ it takes no time, is already written and is fast to fill out!

Put democracy to action and take 30 seconds to e-mail your senators right now. Don’t wait to file bankruptcy to stop foreclosure. Take action now!

It’s muddy work to keep up with a bill as it winds through legislation.

But it’s worth the slog when it’s as important as the Cram Down Mortgage Legislation.

To recap: Sen. Dick Durbin (D-IL) introduced a bill that would give bankruptcy judges the power to change the terms of your mortgage. A judge could lower your interest rate or even decrease the principal you owe. If passed, this bill could help thousands, maybe even millions, of people facing foreclosure stay in their homes.

If you are struggling to make your mortgage payments this law could be a revelation. It address two majors causes of the recent foreclosure crisis: Skyrocketing interest rates due to adjustable rate mortgages and declining homes values.

However, most banks and credit unions oppose the new law. Legislative magazine Roll Call reports that the groups have been “dragging their feet” on working on a new compromise.

But today Roll Call reports that Sen. Durbin continues to push for a compromise that will work, and an announcement on a breakthrough could come as early as tonight.

Citigroup already agreed to new terms, but Wells Fargo, Bank of America and the Morgage Bankers Association continue to oppose the law.

In the latest round of talks, other banking items have been added to help the banks, including reduced FDIC fees.

We’ll keep you posted as any news on this law breaks.

Identity theft can cause financial trouble and administrative headaches for its victims, but medical identity theft can literally put your life at risk.

Here’s what you need to know about this dangerous and growing information crime.

The Basics of Medical Identity Theft

Someone uses your information (SSN, health insurance number, etc.) to get medical treatments or services, or someone makes medical claims using your identification information.

Research from the World Privacy Forum shows that 3% of all identity theft victims in the U.S. (nearly a quarter of a million people) were victims of medical identity theft in 2005.
Despite its dangers, medical ID theft is perhaps the least-studied and worst-documented type of identity theft.

The Health Risks

Imagine this: someone uses your information to visit a doctor and maybe has a couple procedures performed. After the crime has been committed, here’s what might happen to you:

• You’ll get billed for the medical care you never received. This could harm your credit and drain your finances.
• Your medical record could include information that doesn’t apply to you, including illness history. This could hurt your chances at qualifying for medical or life insurance down the line.
• Your blood type may be incorrect. Should you need a transfusion or blood work, you could be out of luck if your chart has the wrong type recorded.
• Your medical allergies could be wrong. Whoever stole your medical information may have different allergies from you – which could lead to serious problems if you’re ever unable to speak for yourself and in need of medical care.

The risk of medical ID theft grows as the medical services industry moves toward digitized records.

Prevention

Your identity is valuable. Take these simple steps to protect it:

• Take a close look at the “explanation of benefits” section of each medical bill you receive from your insurer. Any inconsistencies with your own records should be a red flag.
• If you have more than one doctor, ask each for a list of benefits provided.
• Guard your health insurance card as you would a credit card – don’t leave it lying around.
• When checking in at the doctor’s, be sure no one can overhear you give out your personal information.
• Contact any care provider from whom you receive an incorrect bill. Assertively pursue corrections.
• Report all mistakes or miscommunications to your insurance provider.
• File a police report if you find the incident was more than an administrative error.
• Take steps to correct any wrong information in your file.

Medical bills play a role in more than 60 percent of all bankruptcy cases. So it pays to make sure that you fully understand your medical bills and aren’t charged too much or incorrectly.

Is anyone else tired of trying to find ways to save money?

I’ve been sniffing out bargains for a while now and just as I began to get fed up with pinching pennies, I realized I’d gotten pretty good at it.

Here are some of the sneakiest tips for saving money I’ve figured out.

Double the Life of Your Shampoo: Easiest way to cut shampoo costs? Don’t wash your hair every day! This may sound either gross or obvious, depending on where you fall on the debate, but studies have shown that less washing can actually improve the quality of your hair!

Whip It Good: I use canned frosting, and I’m not afraid to admit it. But sometimes, I don’t have enough for an entire cake or batch of cupcakes. Instead of opening a second can, I discovered that if you use electric cake beaters to whip up one can, the added air increases volume and makes the frosting last longer.

Buy Plastic Containers: I don’t know who invented the plastic storage containers with screw-on lids, but she was a genius. These things work for storing solids and liquids and come in a variety of sizes. I use them instead of plastic baggies for lunches, which means no more dropping cash for stuff I throw away.

Hit the “Off” Switch: Being diligent about turning off lights you’re not using, zapping the TV unless you’re really watching it, and shutting the computer down each night can help cut your electric bills.

Clean Your Closets: Believe it or not, someone may want to give you money for your old stuff. Whether you take old clothes to a consignment store or host a garage sale, you could pull off a double whammy: spring cleaning plus extra cash.

Ramp Up Your Gas Mileage: If you can’t afford a new, energy-efficient vehicle, make sure your tires are properly inflated and your car’s air filter is cleaned. These two tips can save you significant money by improving your gas mileage.

Hit Community Events: Find out about local opportunities for entertainment, volunteering, eating, etc. Often, community-sponsored events are cheap or free, many come with food and most will allow you to try something brand new.

Hope this helps! Let me know if anyone else has discovered some less-obvious techniques for stashing the cash.

The first step toward organized bills is prioritizing your expenses.

If you’re struggling to pay bills and you’re barely making it paycheck-to-paycheck–you’ve got to cut to the bare bones. This list suggests an appropriate order pf importance for most people:

• Necessities (shelter, food, medication): If you haven’t got a place to live or anything to eat, other expenses hardly matter. Make sure you funnel money to mortgage/rent and groceries before anything else.
• Essential Utilities: You need water, heat and electricity. You don’t need high-speed Internet, a deluxe cable package or even an energy-guzzling flat screen. If you need to cut costs, consider dropping some luxuries to save for the basics.
• Transportation: Whether you get around in your own car or on public transit, you need to make sure you budget for travel costs: without transportation, you probably can’t work, which means no bills will get paid. Downsizing to a less-expensive vehicle or taking the bus on occasion may help you save money here.
• Child Support or Alimony: If you’re obligated to pay such expenses, you should make sure you do: missing maintenance and support payments can land you in jail, not just trouble with your creditors.
• Taxes: The government could seize your property if you fail to pay taxes; make sure you avoid this by placing taxes next on the list.
• Student Loans: These fall lower on the list, particularly if collection attempts have been neither made nor threatened.
• Unsecured Loans: Credit card bills, payments for services and even loans from friends should fall last on your priority list, partly because your creditors can’t seize any property if you don’t pay and partly because these are the most likely to be discharged should you file for bankruptcy.

Getting Organized

Once you know what needs to be paid, consider developing a system to help you remember to make regular, timely payments. This could include a variety of options, including:

• Automatic Online Payment: Some services can link to your checking account. This may work if you’re confident you’ll have enough in your account to cover costs.
• Color Coded Folders: Low-tech options like this allow you to see at a glance which bills are paid, unpaid and due soon.
• Digital Charts: Many computers and cell phones have programs that allow you to set reminders for yourself. Take advantage of them!
• Buddy System: If all else fails, enlist a friend: One of you is bound to remember when bill-paying time comes around each month.

But here’s the bottom line: use common sense and start living on less.

Are your bills out of control?  You may need to take serious action. Learn how filing bankruptcy may help.

We all want what’s best for our children, but many of us are confused about the best way to set them up for the future.

Saving for college can be an intimidating task. But the good news is that you have options and the key is to start saving as early as possible.

Savings Accounts: This is perhaps the most familiar option for most Americans. The upside is that you may be more likely to save in a way that makes sense to you. The downside is that interest on savings accounts is pretty insignificant and may not help you reach your goal. Plus, these accounts are easy to access and could tempt you if you get in a tight spot.

Certificates of Deposit (CDs): Most CDs last for a period of one to five years and typically come with interest rates slightly higher than those for savings accounts. Still, the interest likely won’t be significant enough to greatly increase your savings. Plus, if you withdraw money early, you could be penalized significantly.

Stocks: As we all know, the stock market is a risky game to play. But, if you’re investing for the long term, it could be the way to go. If the company you invest in succeeds, you could multiply your initial investment and even sell your shares at a profit. If it fails, though, you could be faced with a loss of your initial funds.

Bonds: These are considered slightly safer than stocks; if a company fails, it’s required to pay off its bonds before it pays off its stocks. They function by setting up a contract: you’ll get paid back your initial investment plus interest at some future time (ranging from a few months to a few years).

Mutual Funds: These are professionally managed investments. You’ll be responsible for taxes and certain fees, but you can discuss with your manager a level of risk that you’re comfortable with.

State Sponsored Investment Plans: Many states have savings accounts with various terms and conditions designed specifically for parents saving for college. Visit your state’s Web site to learn more.

Education IRAs: Individual Retirement Accounts for education allow parents to contribute money each year for the education of kids’ younger than 18. If the money is used for education-related costs, it will be tax-free.

Talk with a Professional

If you already work with a professional accountant or investor, consult with him or her before proceeding.

Even if you hit financial hard times later and have to file bankruptcy, in some cases, your education savings may be protected. Saving a little is better than saving nothing at all, so get started with whatever you can afford!

Here are six tricks I’ve discovered to make sure I’m paying no more than necessary to keep my car’s insurance up-to-date and legal.

1. Report your safety features. Your car insurer learns a lot of information about your car by researching its VIN, but that research may not turn up all the details. When you speak to an agent, be sure to let her know about your airbags, theft deterrents, anti-lock brakes, etc. Updated safety features could help you reduce your premium as much as 10 percent.
2. Choose a higher deductible. In some cases, selecting a higher deductible can save you hundreds of dollars, as long as you don’t make any claims. And be sure to ask your agent about overall coverage levels – depending on laws where you live, you may not need to carry as much as you have.
3. Pull out your résumé. Okay, your work history may not help lower your rates, but your social activities might: getting good grades in school or belonging to certain organizations may qualify you for more affordable coverage. Plus, belonging to AAA or AARP can help.
4. Spend smart. For some reason, certain insurance providers equate responsible borrowing (paying bills on time) with responsible driving. Whether or not this is an accurate assumption, you may be save money by staying on top of bills.
5. Drive smart. This one makes sense: a clean driving record can lead to lower costs. Research driver education classes in your region, attend them and let your insurance agent know: actively pursuing safe driving habits may help lower your rates.
6. Drive a safe vehicle. While “fun” cars may be… well, fun, they can come with hefty insurance costs: sports cars and SUVs tend to have higher premiums because of the cost to repair them and the high risk of theft.

The Bottom Line: Be Assertive

The chances of your insurance agent calling you to ask if you’d like to lower your rates are almost non-existent. Take charge by giving your agent a phone call – even if you can’t think of anything that would qualify you for lower rates, your agent may be able to. And remember, the worst they can say is no.

Don’t let overly expensive insurance rates for you into bankruptcy.