Resources for Those Facing Financial Turmoil

The United States is currency facing a very scary financial situation, which will be affecting many of its citizens: the dollar has weakened tremendously, the housing market is weak due to the excess amounts of bad loans out there, and bank failures are on the rise, with IndyMac, the seventh largest bank nationwide, closing its doors less than a week ago.

With all of this going on, it can be a very scary time for you and your finances. I have outlined a number of resources that you can use to help you get back on your feet if you've been devastated by one of these financial anomalies, and can help you avoid getting into trouble before it's too late.

Banking Failures

IndyMac

If you are a depositor for IndyMac bank, then there is no doubt in my mind that you have a number of questions about what the status of your account is and how you will get your money back. This resource, straight from the FDIC's website, outlines the information you need to know about your account and how to go about claiming your money.

http://www.fdic.gov/bank/individual/failed/indymac_q_and_a.html

Other Banks

It is no secret that a banking failure can lead to a widespread chain reaction. If you are worried that your bank may soon go under there is some vital information you need to know. For starters, do you know if your bank is insured? Up to how much is your account insured to? Get these and other important questions answered through this article, brought to you by the SF Gate.

http://www.sfgate.com/cgi-bin/article.cgi?file=/c/a/2008/07/16/BU4411PGGA.DTL&type=printable

Foreclosure Resources for Consumers

One of the main mistakes I've seen borrowers make in the past is thinking that there is no solution to their mortgage problems. They believe that they can either pay their mortgage and keep their house, or not pay it and lose it. Surprisingly, there are a number of organizations, who specialize in helping peope in your exact situation.