Stephen Reddell's Katy Texas Blog

You don’t have to follow the news to hear that foreclosure rates across the country are hitting record numbers. The Katy real estate market has not been spared its fair share either. In fact, across town you’ll find many Katy homes in foreclosure. Whether you are a home-owner in Cinco Ranch, Firethorne, Grand Lakes, or any other community in Katy… you likely have a neighbor experiencing the heartache of losing their home. If you find your family in a rough spot where you are unable to make timely payments on your mortgage… don’t wait until it’s too late! There are plenty of things you can do to avoid the financial burden a home foreclosure in Katy. The most important thing you can do to avoid a Katy home foreclosure is to cut costs. This is not always an easy thing to do but there are so many ways that you can cut costs. Here are just a few ways to help alleviate financial stress from your family.

• Magazine / Newspaper / Other Subscriptions – Your next vacation is probably a while away so you probably don’t need that travel magazine for now. Cancel subscriptions that you don’t need.
• Cable TV – Get a less expensive cable plan than what you have currently. Additionally, if things are really tight consider cancelling cable altogether. Instead read a book or watch TV on the internet.
• Phones – If the reception at your home in Katy is acceptable cancel that home phone to save some extra cash.
• Hair Cut / Color – You might not want to cut your hair yourself… but you can definitely cut down on the cost of your cuts. There are many affordable hair salons that won’t lighten your wallet too much. Additionally, learn to color your hair yourself at home.
• Manicures / Pedicures – This is also something you can do from the comfort of your own home. Buy a few bottles of your favorite polish and do it from home. You can even have a friend or two come over and do each other’s nails.
• Coffee – I won’t ask you to give up coffee… though that might not be a bad idea… but you can save a bundle by making your own coffee from home. Not to mention the calories you will save each day by not ingesting so much cream and sugar.
• Gym Membership – You’re doing a great thing by staying in shape with that gym membership but it’s costing you a fortune. Spend your work out time running around the neighborhood, doing chin ups on the monkey bars at the park, doing sit ups and push ups in the grass, or buy a work out video and give that a whirl!
• Rent Out a Room – Often, this can be a difficult thing to do. Renting out a room to a stranger might not sound exciting… but if someone can help your family stay in your home why not? There are plenty of people out there looking for rooms to rent. Just be sure to write up a contract, do it month to month until you get to know the person well, and get a deposit.

These are just a few examples of things you can do to help alleviate financial stress within your home. If you need additional tips to help avoid a Katy foreclosure feel free to contact me!

Filed under: Economy/Market, Foreclosures, Katy Real Estate