The housing market collapse has left almost every neighborhood with vacant homes and untended property. Neighbors are upset with the fact that these homes are destroying the appearance of the neighborhood and lowering the value of their homes. Although there are laws on the books requiring that these properties be maintained, with so many vacant homes, there isn’t anyone available to enforce the regulations.

Some homes are vacant because families could not afford to pay the mortgage and should never have qualified for it in the first place. Others are a result of job loss, while still others defaulted due to marriage problems, which left only one person with a low income in the home.

In many cases, squatters are moving into vacant properties and signs are attracting vandals and thieves. Homes are being destroyed and many items are stolen for profit.

Some neighborhoods are fighting back. Residents are actually taking turns cleaning up specific properties in an attempt to keep their area looking good. It is upsetting to them to see their locality falling apart because the large mortgage companies who hold title to these properties are not acting responsibly. New laws are being introduced and attempts to increase enforcement are being worked on. But as of today, the neighbors are still working together as a team to maintain the beauty of their neighborhoods and the value of their homes. They are all hoping that these new laws will help alleviate the negative impact these homes are having on their community.

History has often shown us that when bankruptcy filings increase, so does debt. Currently, bankruptcy filings have increased 28.6 percent nationally compared with the number of filings in September 2007. There is always a close correlation between these two numbers, and today is no exception. Consumer debt has been increasing monthly to record levels and the end is nowhere in sight.

Debt of this magnitude makes people vulnerable and the housing situation is compounding the problem. Using home equity to relieve debt is no longer an option and many are finding that they have no place to turn.

Most bankruptcy filings relate directly to job loss, or housing, medical, or credit card debt. Any one of these factors, or a combination of them, can cause a person to find themselves in bankruptcy court.

Bankruptcy counseling is on the increase. Signs of trouble include a 10 percent increase in the household income of those seeking counseling for these problems. This indicates that higher income people are being affected by the financial crisis we are currently experiencing.

Debt-management programs are reporting a 25% increase in the amount of debt being placed into their programs.

People seeking counseling are showing a 22 percent increase in monthly housing expenses.

The number of clients who are living with relatives or friends instead of owning or renting has increased by 23 percent.

Homeowner’s, in general, receive the largest tax benefits of most groups of taxpayers. These benefits, however, are generally only available to those who itemize their deductions. This has been the case to date.Laws, however, have now changed.

President Bush recently signed into law a package that enables homeowner’s who do not itemize their deductions to benefit from being the owners of homes. The new law allows these people to obtain some credit on their 2008 federal tax return for property taxes paid. Those who take the standard deduction will receive an additional $500 deduction for single filers, or an additional $1,000 deduction for married couples if they file jointly. This provision, however, is scheduled to be in effect for only one year.

The majority of homeowners will continue to itemize so that they can write off both mortgage interest and property taxes. There are, however, approximately 40% of homeowners who do not itemize their deductions and these are the people who will benefit from this new law. This 40% is mainly comprised of people who live in less expensive homes, who have paid off their mortgages, or who are age 65 and older. Anyway we can find to save money these days is appreciated. Be sure to take advantage of all of the tax breaks that are availabl.

We all try to make our homes safe for children. Whether we are concerned for our children themselves, our grandchildren, or our great grandchildren, safety is the number one issue for our homes.

Search your home and gather together these items for a do-it-yourself home safety kit:

A ruler can be used to make certain that steps are all equal heights. This is also the tool you need to measure the spaces between crib slats and deck rails. Crib slats should be a maximum of 2 ½ inches apart, while deck rails should never be more than 4 inches apart.

Add to your kit a digital thermometer. This can be used under running hot water to test the temperature of your water. If is shows higher than 120 degrees, lower the thermostat for the water heater.

A toilet paper tube should be part of your kit. If an item can fit through it, it represents a choking hazard for a child under three.

A block of wood should also be added to your kit. Use a scrap of 2 x 4 lumber under your garage door to verify that the electric opener will reverse itself should a child be in danger.

Lead test kits are an easy way to verify if toys or paint could be tainted.

A radon test kit will show if your home contains radon which is a radioactive gas that can cause lung cancer.

The government is currently working on the rescue plan that they hope will save our economy. Meanwhile however, this plan may lighten the credit crunch but will, most likely, not immediately effect the housing slump that we are currently experiencing.

It has been forecast that the housing market will probably not begin returning to normalcy until mid 2009 or later. At this time we have many sub-prime mortgage borrowers going through foreclosures. The really unfortunate part is that the economy is so bad that we now have prime mortgage borrowers experiencing foreclosures and losing their homes. This, of course, has the potential to drive prices down even further.Being near a foreclosed home is a negative for any neighbors. Being surrounded by them almost guarantees your home value is sinking weekly and there is nothing you can do.

The areas of our country leading the way in home foreclosures are the same areas where prices rose at the fastest rate over the last few years. In August, California had one-third of all foreclosure activity, Florida was second with 14.5%, followed by Arizona, 4.7%, and Nevada, 3.9%.

The rescue package will most likely not resolve the housing market problems at this time, but they would most like be considerably worse if no package was passed by the government.

There is no doubt that layoffs are looming, leaving people without incomes or health insurance, and hard economic times are ahead for all of us. We can only hope that our economy will bounce back in the future and return us to the standard of living we’ve all been enjoying for many years. Meanwhile, it is time for everyone to stay constantly aware of their financial situation.

The fastest growing crime in today’s world is identity theft and we are all vulnerable to the possibility of becoming a victim. Sometimes, this is out of our control as our debit and/or credit cards can be compromised through merchants we have entrusted with our personal information. Of course, we all try to protect our cards and pin numbers from everyone possible. But some of our information is available to others and we need to always act wisely to secure it as much as possible.

One of the ways many people are trying to avoid identity theft is by using shredders for personal information disposal. Items that should be shredded are junk mail and old papers including a birth date, signature, or account numbers. It goes without saying that you would shred anything that contains passwords, personal identification numbers or your social security number, with the exception of your Social Security card. It is always a good idea to shred credit card receipts and deposit slips. Other items that you should consider shredding would be preapproved credit card applications, and expired identification health insurance bills and any cards such as driver licenses and passports. Also destroy old canceled checks not needed to support tax documents.

Vigilance toward securing your paperwork will pay off in the long run. People who have had their identity stolen tell horrendous stories of how many months or years it takes them to get everything corrected. It is a terrible situation to be in and, yet, we all tend to believe that it will not happen to us. That, of course, is not necessarily true. So a good shredder can be a very worthwhile investment.

If you are considering paying off your mortgage, please weigh the following facts before making a final decision. As with most things, there are positive and negative factors to be analyzed.

Should money be applied towards a mortgage or would it be more beneficial to invest the funds in bonds or the stock market? If market fluctuation makes you uneasy, consider prepaying your mortgage which will reduce your total interest expense.

As soon as you have reached mortgage equity of 80% of your home’s value or more, be sure to cancel your private mortgage insurance (PMI). Be certain to do this as soon as possible so that you will not be paying unnecessary premiums.

Peace of mind is always a prime consideration when considering paying off a mortgage. For some people, owning their home outright, is psychologically rewarding. This is a positive thing as long as it does not lead to high-interest credit card debt or at the expense of retirement savings.

Consider prepaying your mortgage while you are still employed so that you will not have to use your retirement funds to cover this expense.

Reasons not to pay off your mortgage debt:

The stock market, although it fluctuates often, generally offers a better return on your money than prepaying your mortgage.

If you prepay your mortgage, you will lose the interest tax deduction offered by the government. If you are in a high tax bracket, this could be very costly and the decision should be analyzed carefully.

Some adjustable rate mortgages do carry prepayment penalties. Be sure this is not the case with your mortgage before deciding to prepay. The cost of a penalty may negate any benefits you are anticipating from prepayment.

At this point in time, many of us wish that we did not have a mortgage on our homes. If that were the case, we wouldn’t have to worry about foreclosures and we’d be comfortable knowing that we were safe in our home environment.

Today, approximately 31.8% of homeowners do not have mortgages. I doubt that anyone would have guessed that the number would be that high. The other surprising fact is that the majority of these mortgage-free homeowners are low income families, not the wealthy. They live on extremely tight budgets and often do not even carry health insurance.

The rich generally carry high mortgages because of the tax benefits available to them. When you consider the tax deductions, it’s the least expensive way for the homeowner to borrow money. The typical family of four with an annual income of $100,000, who purchases a $500,000 home, can realize a tax savings of almost $6,000. This would be true if they obtained a mortgage for 80% of the home’s value at a rate of 6%. If they actually had this $400,000 and invested it in a mutual fund with a 10% return, they would have made a very wise financial move.

The low income family who eventually may become mortgage-free, generally purchases an inexpensive property, many of which frequently do not qualify for mortgages. Mobile homes, for example, will not generally qualify for a conventional mortgage. People with low incomes who may well have a shaky credit history, will not qualify for a mortgage. People in these situations generally will turn to relatives to help finance their home, paying them back over time. Eventually, they will become mortgage-free.

In addition to the very low income group, many others who are mortgage free have long been against carrying debt. Still others without house debt are the elderly because they have either traded down to smaller homes, or have long since paid off their original 30-year mortgage.

When looking for a home, a nice option to have nearby would be a lovely park. Parks provide wonderful places for exercise and fun. Family picnics, afternoons on swings and slides for the children, a great place to walk the dog; all of these are available if you have a park nearby.

If you take advantage of your park and include regular walks in your daily routine, you will be participating in the healthy lifestyle encouraged by many health insurance plans. Some will even offer incentives to encourage participation.

Parks are available for family outings. Be sure to check ahead to verify if equipment and activities are age-appropriate for your children if this is your first visit.

Wear your running shoes and hit the trails at your local park for a nature walk that will help you relax and be good for both your mind and body.

If possible, visit the park during your workday. It would be a great place to have lunch or take a power walk after eating at the office. This will refresh you the rest of the day.

Many local parks play host to free or low-cost concerts. This provides an entertaining outing at a very minimal cost.

Inquire if they have basketball courts or tennis courts available. If you do not have your own equipment, perhaps you can borrow some from the park.

Many parks offer classes in dance, exercises and gardening. Check with your local park to see what courses are available in your neighborhood.

Local parks often provide the opportunity to meet new neighbors and make new friends.

Some parks host regular farmer’s markets where you can purchase local produce and, at the same time, support your neighbors.

Visit the park with a good book and enjoy the afternoon under a shady tree.

Learn about the people who run your local park. If you have suggestions for new programs, let them know.Still better, consider volunteering to serve on a committee or board.

Unfortunately in today’s society, obesity is a large problem which doctors and health insurance companies are trying to address. Many health insurance plans are providing incentives to people who are trying to lose weight. Some are offering discounted gym memberships. Others are choosing to educate people as to how they can change their habits so that they will have a healthy lifestyle.

Some of the simple weight-loss tactics to follow are:

Create a food diary by recording everything you eat in the course of a day. This truly results in a larger weight loss because you become so aware of each calorie.

Eliminate fructose, the sugar that turns to fat in your body. This can be accomplished by limiting the amount of processed foods you eat and refrain from drinking beverages sweetened with fructose.

It has been documented that eating vegetable soup reduces the risk of being overweight for young girls. This is also true for adults who eat vegetable soup before a meal. They will generally eat 20% less calories because the soup is so filling.

People who eat slowly generally eat 70 fewer calories than those who eat quickly. Tests have found that the slow eaters also seem more satisfied for a longer period of time.

Saturday is the toughest day for dieters. No matter how good you may be at following your diet, the freedom associated with Saturdays causes most people to cheat.

Drinking water a half hour before breakfast can cut calories by 13% in older, overweight people.

A daily portion of breakfast cereal apparently helps young people to stay thin. Overweight dieters who ate two eggs daily were found to have lost considerably more weight in an eight week test than those who ate bagels with equal calories.