If you thought that home foreclosures was the chief problem for some consumers, consider that automotive repossessions are one more sting some people are now facing.

Repos Up Another 10%

According to Thomas Webb, the chief economist for a unit of Atlanta-based Manheim, which sells cars to dealers worldwide, repossessions for 2008 are expected to rise to their highest levels in more than decade, representing a 10% increase over 2007. What’s more, the repossessions for 2007 were 10% higher than 2006. In all, more than 1.6 million cars are expected to be taken back this year.

Consumers Can’t Make Payments

True, consumers may shoulder the bulk of the blame as some have were enticed to buy more car than they could possibly afford and payment terms that were longer than average. Indeed, with the proliferation of 60-month and 72-month notes out there, some drivers are wearing out their wheels faster than they can pay them off.

Stay In Touch With Your Lender

If you find yourself in trouble, the best thing to do is notify your lender that you will be late with a payment. It doesn’t take long, usually 2 or 3 months of being behind in payments, before lenders take action.

Even though repos are filling up lots across the country, lenders are usually not hesitating to take action, especially if they believe that consumers aren’t being honest with them.

The key with the package is economic stimulus (although some might say pandering for votes is a more accurate description) with politicians hoping that Americans will spend their checks to bolster the economy. However, that desire may not come forth as many consumers are likely to take their checks and use them to pay down debt.

In a survey conducted by the International Council of Shopping Centers and financial services firm UBS Securities LLC, 43% of the people polled said that they would apply their checks against current debt.  26% said that they would save the money while 24% are planning to spend their checks.

Money Management International, a non-profit credit counseling agency is encouraging consumers to weigh their options and has released suggestions on where the money could go including:

• Pay down debt. A $2,000 credit card balance with an 18 percent interest rate could take nearly 12 years to repay when making the minimum monthly payment. However, if you apply $1,200 to the bill, you could repay that same debt a fraction of the time.

• Save for emergencies. Americans are currently saving at negative rates, a first since the Great Depression. With no savings, an unplanned expense could turn into a financial emergency. Placing your rebate check in a savings account could mean the difference between a financial difficulty and a financial disaster when unexpected expenses arise.

• Prepare for the holidays. Too many people get in over their heads during the holidays and being in debt is no way to begin a new year. Set this windfall aside for holiday expenses and avoid post-holiday debt.

• Become more energy efficient. Gas prices and higher utility bills have left many Americans with empty wallets. Consider using your rebate check to upgrade your appliances to energy-efficient models that can lower your electric, gas, and water bills and save you money in the long run.

• Grow your money. The eighth wonder of the world is compound interest. Depositing $1,200 into a savings vehicle that earns 8 percent interest can really add up. After 10 years, your $1,200 will be worth more than $2,500. After 20 years, your money will have more than tripled at $5,593.

Expect when the checks do begin to arrive that many retailers will entice people to spend their checks by offering special sales and incentives.

I am blessed to live in an area that has so much to offer. Raleigh, the state capital, is nearby with all of its Revolutionary War, Civil War, and Civil Rights significance. Durham, home of many tobacco makers, boasts Duke University while Chapel Hill is the home of the University of North Carolina. All three cities have so much to offer but it is nearby Chatham County that offers a charm of its own.

Founded in the mid1700s by Irish-Scot, English, German, and Quaker immigrants Chatham County is situated in the heart of North Carolina, just southeast of Raleigh. In its earlier years it was a summer resort for those seeking to escape the high temperatures and humidity of the Raleigh area. Today, the county boasts a combination of old time towns along with bustling suburbs. Indeed, Siler City at 7,000 people, is its largest “city” so the smalltown effect has yet to completely been moved to the side.

The seat of government for the county of Chatham is located in Pittsboro, a town peppered with restaurants and antique stores. The court house is a “can’t miss” destination as it was plunked down in the center of town in 1787 where it remains to this day.

While the early years of county life featured rabbit breeding the current county agri-business is now poultry. Beyond all that, the county is now attracting new settlers who want a taste of country while having accessibility to the city life of Raleigh. Indeed, new housing developments continue to spring up particularly in the area of the Fearrington Village development.

If you like outdoor activities, Chatham County will not disappoint you. My favorite spot is the Jordan Lake State Recreational Area, a 14000 acre park featuring hiking, bird watching, swimming, fishing, boating, and camping. You can spend several days at the park and still not be able to take in all that it has to offer.

Throughout the year other activities are held including an arts and crafts festival and a bluegrass music festival. The county also has an award winning winery, the Silk Hope Winery, featuring wine from American and French hybrid grapes, as well as a collection of gardens.

If you visit the central part of North Carolina, make sure that your travel plans include a stop in Chatham County. It may not be a Raleigh, Durham, or Chapel Hill, but it is a destination worth visiting in its own right.

Matt Keegan is The Article Writer who writes on a variety of social, human interest, as well as business related topics.

It is the scourge of our age: identity theft. Thieves learn an important part about your personal information, such as your credit card number, and they open accounts in your name and spend, spend, spend! Unfortunately, by the time you discover that you are a victim the damage is already done. Here are seven steps you can take to prevent identity theft.

1. Guard your social security number. Clerks, telephone sales people, etc. will sometimes ask for your social security number. Do not give this information out. Of course, certain government agencies require your social security number for identification purposes, but other than that no one has a “need” for your number.

2. Get a shredder. Yes, ripping papers up into little pieces can help but these pieces can also be put back together by someone determined to get information from you. Thieves resort to “dumpster diving” or “trash can trolling” to find out important information about you. Once they have it you can count on your problems beginning.

3. Protect your mail. Thieves will make off with your mail if they think there is something of interest there. Purchase a locking mailbox if you live in an area prone to mail theft. Notify the post office if you suspect any problems. The United States Post Office has their own team of investigators who really, really hate mail fraud.

4. Get your free credit report. As of September 2005 all three major credit reporting agencies — TransUnion, Experian, and Equifax – must permit consumers to access a copy of their credit report for free on a yearly basis. To maximize the benefit of this law order a copy every four months from a different agency. Check your report carefully and take the proper steps necessary to correct any errors.

5. Review your monthly statements. Chances are you skim your credit card statements since it has gotten quite lengthy with all your gas, food, retail, and internet purchases. Thieves count on you doing just that! Pay closer attention to each item and question anything remotely suspicious. Follow the instructions of your credit card provider for contesting anything that is incorrect.

6. Do not call. Give telemarketers and all other phone solicitors the boot by getting yourself listed on “do not call” registries. Screen calls with caller i.d. to filter out everyone else.

7. Protect your computer. Make sure that you are running the latest internet security programs, change your password regularly, and only purchase items through a secure site [those with an “s” in their web address: https]

Should you suspect a problem, notify the three credit reporting agencies and request that a “fraud alert” be placed in your file. Contact the fraud departments of the effected credit providing companies and follow up all that you do with statements in writing. In some cases your rights are only guaranteed if you send a letter, so be diligent to learn all that is required of you when you have been victimized.

Matthew Keegan writes on business related, human interest, education, aviation, and general issues. For samples of some of his work please visit http://www.thearticlewriter.com

If you have recently purchased some real estate for investment purposes, you are in good company. Recent reports suggest that as many as 25% of these purchases are made by those who plan on using the property for investment purposes only. If you hope to “flip” the property there are 4 things you must be aware of that can put a crimp on your profits.

1. Property Taxes. Keep the property for a few years and you may experience a surge in property taxes especially if your taxes are reevaluated during that time. Some hot real estate markets have seen taxes nearly double in just 5 or 6 years.

2. Renovation Expenses. You may have purchased a “fixer upper” at a bargain rate. Once your project is complete will you be able to recover the expenses and make a profit especially if the value of your renovated property is above those in your neighborhood? In addition, can you withstand a correction in real estate values?

3. Insurance and Mortgage Costs. You will pay more for homeowners insurance if you do not occupy the residence and you have tenants. If you are financing the property you know that your mortgage rate is higher as well.

4. Rental Pressures. A market saturated with rentals will mean that the rents you can charge will be less than what you had hoped to receive. In some markets you are required to get special licensing in order to be a landlord. In other markets the legal rights of tenants mean you could have a lengthy and expensive battle in ridding yourself of a bad tenant. Will the lower income levels coupled with the added expenses drag your investment down?

Of course, you can limit your risks [and costs] by doing the majority of the upgrades yourself, appealing excessive property tax increases, and finding for yourself a trusted and dependable tenant. It isn’t easy flipping a home, but with a lot of pluck and determination it can result in strong profits for you.

Matthew C. Keegan is The Article Writer who writes on a variety of subjects; you can preview samples from his flagship site at http://www.thearticlewriter.com

One home in my area has been on the housing market continuously since March 2006, an awfully long time for a home to remain unsold. The house is empty, suggesting that the owners transferred out of the area, which could also mean the responsibility for seeing that the home is sold rests with the owner’s employer.

The same realtor has been representing this customer continuously, but I did see a pending for sale sign on the home last summer. That sign remained up for about one or two weeks before it was removed and the home presumably was placed back on the market. I have no idea why things did not proceed to a sale.

I won’t post a picture of the home online or mention the realtor by name — no need to embarrass anyone. The house is attractive looking with a good street presence. However, it does have one flaw that may be considered fatal — the kitchen is on the second floor. That’s right, I’m talking about a raised ranch, a style that was popular during the late 1960s to early 1970s.

I might not have considered this feature to be a problem, but it did catch the attention of two women I know. Each mentioned that the layout of the house makes all of the difference in the world.

What can the owner of the home do about this problem? Probably not a whole lot. However, a realtor who is aware that our neighborhood’s school assignment is fairly solid compared to the rest of the county could use that information as a chief selling point. With so many kids being moved from school to school each year as the district redraws its boundaries yet again, the idea of living in a neighborhood not so effected could override this home’s major flaw.

Likely, the owner will have to budge on price, perhaps selling the home below market value. That can be bad for the owner and bad for the rest of us who want to see home values remain strong.