Heading Towards Third To Payoff Debt

Now that we've returned to telling our journey to payoff debt, it's been decided that a new format will be followed. The format will now be similar to Blogging Away Debt or $12 a Day, but from a guys perspective. This doesn't mean that the female side won't crop up from time to time, but for now let's hear it for the boy.

We're heading towards third with just a year and a half to go until we've paid off the majority of our massive debt.

Coming Back To Tell Our Financial Success Story

It has been quite sometime since we've done a post here at Financial Elite. Not because we gave up on our finances or failed on our journey to payoff over $200,000 in debt, which does not include our homes, but we've been busy with life in general.

We are now 3 and a half years into paying off our massive debt that mainly consisted of credit cards.

Clinton Gets How to Fix the Mortgage Mess, Why Doesn't Obama?

Too bad we can't re-elect President Clinton because he has some idea's I think will help start turning our mortgage mess around. In an interview with Fortune managing editor Andy Serwer, President Clinton discusses what he would do fix the mortgage market.

I cannot emphasize the boost I think it would give the economy if we had a system that said to people whose homes are worth less than the mortgages that you can write down your mortgages to the value of your home if you can make the payment.

Where Has Financial Elite Gone?

We're still here, but have been extremely busy. There has also been some thought of changing the direction of the blog and discuss just how the Financial Elite have an effect on our very financial lives. Stay tuned to what happens next.

In the meantime, so far this year we have paid down additional $12,000 of debt and our debt snowball is about to really get rolling as we will be paying off our first two credit cards in July.

Civil War Coming from Declined Loan Modifications

I received a call today from a long time friend of mine, who is in the process of having his families home sold due to the on going Great Recession, and was not happy. Why you ask? Because the whole loan modification program is a joke.

So, let me back track a little with my friends situation. About a year ago my friends financial house of cards had collapsed. Because of his income decreasing he was charging excessively to continue to keep his household going and make his mortgage payments, but eventually he had reached his max.