Wednesday, April 23, 2008

Managing Failure

Dear Squires and Maidens:
In my best selling book "The Angry Black Man's Guide to Success" I write a lot about avoiding failure, but sometime failure is not avoidable. However, its how you manage your failures that determine your long term success. One of the best people at managing failure is Donald Trump. He once bankrupt Eastern Airlines in a mere nine months and his hotels/casinos in Atlantic City are again awash in red ink. A Trump Tower in Tampa, Florida never got out of ground.

I know times are tough, so I am going to suggest that if you own real estate in this market, that you consult a foreclosure management company with a local office. Many Realtors and mortgage brokers are now offering this service to provide their clients with all of the options, legal and otherwise. Even if you are not in trouble, do not wait. Your options are many including principle reductions, payment modifications, and short sales. Some companies can arrange to suspend your payment for up to six months. The process is tedious and confusing, so please consult a local expert.

The Banks and Mortgage lenders are getting large breaks from the Treasury and Federal Reserve with the intent of passing them on to you, but you can only get yours if you know what and when to ask. Consult an expert today.

King George
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