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      Archive for July, 2009

      HARD ECONOMIC TIMES HAVE CONSUMERS CANNING IT

      Thursday, July 2nd, 2009

      As America struggles with the difficult economic times we’re experiencing and more and more families are trying to stretch their budget and reduce their debt, a blast from the past is quickly making a strong comeback … canning. As the cost of food has continued to rise and the economy has continued to go down, many consumers are trying to manage their monthly debt in less high tech methods and returning to the “good old days” such as growing and canning their own fruits, vegetables, sauces and preserves as a way of saving money and managing the budget.

      Although most have turned to canning as a means of saving money, there is another reason people are turning to growing their own these days, and that being the constant barrage of food product recalls and salmonella outbreaks.

      A literature professor who chronicles her methods of trying to get out of credit card debt says that although canning began as a way to practice better debt management and save money, it has also become a big plus for her to know where the foods are coming from, and what is in them too, not just the money she’s saving.

      While many people canning today will buy their produce from a local farmers market to supplement their own home gardens, suppliers of garden related products and seeds say they have seen their business increase as much as 38% over the last 14 months. The trend is also reflected in the sales at Jarden Home Brands, who supplies the popular Ball canning products, where it is reported that sales of canning products have increased almost 30% this year and plastic freezing containers have doubled from last year according to data from Information Resources Inc.

      At the University of New Hampshire Cooperative Extension, Alice Mullen has said that the canning demonstrations at the local farmers markets around the state have been drawing much larger crowds. The people are saying the need to reduce their personal grocery debt and the uncertain future of the economy are a big stimulus to the initial reason for canning.

      However, many also say the thought of paying higher prices for foods packed with salt, preservatives and other unhealthy items may keep them canning permanently for the health of their families and saving money, the future of the economy won’t really be a factor any longer.

      TERMS YOU NEED TO KNOW WHEN HOUSE HUNTING

      Wednesday, July 1st, 2009

      Today’s real estate market is absolutely a buyers market, and if you’re considering taking the plunge there are some terms you need to know before starting out if you’re hoping to cash in on the great savings available to buyers today.

      FORECLOSURE: These properties have been taken over by the mortgage holding bank due to nonpayment by the owners, typically this happens after a bank has tried loan mitigation with the owners unsuccessfully, and is initiated after 3 months of nonpayment.

      AUCTION PROPERTY: Foreclosure auctions are foreclosed properties; advertised by public notice, to be sold on a specific date, in a public place, because the owner having gone through the mitigation process could not make arrear amends or sell the property. Public auction or sheriff’s sales usually require cash or cashiers check payments only.

      REO: This term applies to properties having already been through the foreclosure process and are now real estate owned by the government such as Fannie May, Freddie Mac, HUD,VA or the lender that insured the loan.

      SHORT SALE: When a homeowner cannot make their mortgage payments many lenders will agree to a short sale to avoid a costly and time consuming foreclosure process, this is beneficial to the home owner because they can avoid foreclosure being recorded against their credit history. Basically the bank agrees to accept less money than is owed on the mortgage and forgives the sellers the balance still owed less the purchase price in order to get the home off the banks books and avoiding foreclosure costs.

      These are terms that will help you to save money when searching for a new home, there are many money saving incentives such as the low interest rates, stimulus tax break for first time home buyers, and the lowest housing prices that we’ve seen since the early 1980’s. All of these factors make this the perfect storm for those looking to save money and really get more for their money.

      If you’re still on the fence take the extra time to save more money for your down payment and put a little more away for the start up costs associated with a new home purchase, there’s always more to do (pay for) than you thought and a little extra cushion will make it less stressful.