Featured Stories
Simple Trick: Should I Pay Off My Mortgage in Half the Time? Comparing 15-Year Mortgages and 30-Year Mortgages. Debt Card Safety Tips Steps to take if you lose your Debit Card Can a Debit Card Help you Build Credit? Have your Government Benefits put on a Debit Card
 
Simple Trick: Should I Pay Off My Mortgage in Half the Time? Comparing 15-Year Mortgages and 30-Year Mortgages.

Simple Trick: Should I Pay Off My Mortgage in Half the Time? Comparing 15-Year Mortgages and 30-Year Mortgages.

Pros of a 30-Year Fixed Mortgage With interest rates at a historical lows, consumers are racing to refinance their homes. In many cases consumers reach for the traditional 30-year mortgage. This loan locks in the incredibly low rates we see today for thirty years and in most cases gives the consumer a much lower payment […]

Debt Card Safety Tips

Debt Card Safety Tips

Do you know where your debit card is? It is essential to your overall financial security that you keep your debit card in a safe place at all times. Safety, above all else, is of utmost importance. If you are careless with your debit card it is only a matter of time before it backfires on you. What does it mean to be safe with your debit card? Well, this means different things to different people. To give you an idea of how to improve the safety of your card, follow the tips below. 1. If you lose your debit card do not wait too long to call your bank. The biggest mistake you can make is thinking that you are going to find your card in the near future – just to learn that this never happens. It is better to be safe than sorry. Call your bank, explain that your debit card is missing, and have them cancel it at once. Sure, it is an inconvenience but you will receive your new card in no time at all.

Steps to take if you lose your Debit Card

Steps to take if you lose your Debit Card

Did you recently lose your debit card? Did you have a scare that makes you think this could happen to you in the future? Losing your debit card is a big deal for many reasons. Although this may never happen, it is good to be prepared for the worst. Here are several steps to take if you lose your debit card: 1. Call your bank as soon as possible. It is common to wait a few days, hoping that your card turns up. While this could happen, it is better to be safe than sorry. Remember, the longer you wait to report your debit card missing the more chance there is that somebody will use it in a fraudulent manner. Are you really willing to take that risk?

Can a Debit Card Help you Build Credit?

Can a Debit Card Help you Build Credit?

Can I use a debit card to build my credit? This is a common question, especially among younger individuals as well as those who have had credit issues in the past. Most people are aware of the importance of an above average credit score. While this may not sound like a big deal, the higher your score the better chance you have of securing a loan in the future. Along with this, it can help in many other aspects of your life, such as when applying for a job.

Have your Government Benefits put on a Debit Card

Have your Government Benefits put on a Debit Card

Did you know that you can have your government benefits put on a debit card? This has become very popular over the past few years, as more and more baby boomers reach retirement age. Even if you do not opt for this method, you should consider the process as well as the benefits. If you are interested in having your benefits put on a debit card, the following advice should be useful: 1. Do you know what a government debit card is? This is nothing more than a card that is preloaded with cash from SSI, Social Security Disability, or retirement Social Security. In addition to the convenience that they offer users, the government is interested in this program because it helps reduce paper usage while saving them money.

What Banks Are Looking for to Grant a Loan Modification

What Banks Are Looking for to Grant a Loan Modification

11 March 2009

If you are a homeowner considering a loan modification, keep in mind that a bank is as interested as you are in avoiding foreclosure. If you are a borrower who can continue to make payments, a bank will make every reasonable effort to help you modify your loan. However lenders will not grant loan modifications to every applicant. If you are a borrower and you cannot show the ability to repay the loan on time and consistently for the foreseeable future, then a bank would lose more money in the process and there is little benefit for the lending institution to do a loan modification with you. Foreclosure is a better option for the bank.

Read the full story

Posted in Tips & Tools for a Loan Modification0 Comments

Why loan modification is a hot topic

Why loan modification is a hot topic

11 March 2009

Loan modification is not a new practice, however it is more common now due to the mortgage crisis, declining home values and the economic recession. When property values are remaining consistent or are rising, your ability to get a loan modification tends to be very difficult. When a home facing foreclosure has equity, the bank takes a minimal loss or no loss at all. With nothing to gain the bank has no interest in approving a homeowner for loan modification with a track record of financial difficulties. The lender can place the property in foreclosure, find a new homeowner who can make the payments on time and remain profitable. Banks do not want to engage in loan modifications or deal with a risky borrower in a stable economy.

Read the full story

Posted in All About Loan Modification, Foreclosure, Loan Modification, Refinancing0 Comments

Comparison Shopping: Loan Modification or Refinance

Comparison Shopping: Loan Modification or Refinance

11 March 2009

For qualified homeowners that need to renegotiate the terms of their mortgage with their lender, a loan modification is a good option when properties values are dramatically declining. Loan modifications are the best recourse for homeowners looking to renegotiate the terms of their loans, because the homeowner is unable to make payments under the original agreement or because the value of the property is worth less than the homeowner owes on the mortgage. Loan modifications also serve the needs of lenders that would prefer to avoid foreclosure and a sale of the asset at a significantly reduced price.

Read the full story

Posted in All About Loan Modification, Credit Score, Refinancing, Your Mortgage0 Comments

What is a Loan Modification?

What is a Loan Modification?

10 March 2009

What is a Loan Modification? Loan modification is a process whereby a homeowner's mortgage is adjusted and both lender and borrower are bound by the new terms. The mortgage terms are adjusted because the borrower is unable to make payments under the original agreement or because the value of the property is worth less than the borrower owes on the mortgage. When homeowners fall behind on their payments, they are faced with a few very tough choices: foreclose, deed in lieu of title, short sale or loan modification. Loan modification is the only one of these options that does not force the borrower to vacate their home.

Read the full story

Posted in All About Loan Modification0 Comments

No Fee Refinance. Is it for real?

No Fee Refinance. Is it for real?

10 March 2009

A no fee refinance refers to a loan transaction where the lender or your broker bears all the charges such as settlement costs, underwriting fees, title or escrow fees, processing fees, loan origination points, appraisal etc. So the question is how do they do that? The truth about this type of loan is that the lender bundles all of these closing cost in your loan amount. This increases your loan amount which ends up increasing your payments over the life of the loan.

Read the full story

Posted in Refinancing0 Comments

Loan Modification Tips And Tricks To Deal With Your Lender

Loan Modification Tips And Tricks To Deal With Your Lender

10 March 2009

Are you having trouble with your mortgage? Has it adjusted and you cannot afford the new payment? Were you placed into a bad loan and you can't refinance into a good one? The first thing that a homeowner should do is identify that the mortgage on their current property is a lawful one. Meaning that there are no Truth in Lending Act Violations or RESPA violations and there wasn't fraud involved on behalf of the lender or broker that originated your loan. When you are trying to stop foreclosure, you need to have as much ammo as you can to go up against your lender. With that said, let's go over

Read the full story

Posted in Tips & Tools for a Loan Modification0 Comments

« Newer Entries