Articles Comments

Debt Relief – Insolvency – Bankruptcy Information » Archive

Importance of Home Affordable Refinance Program Rates

The government and private companies have introduced harp program which help the people to deal with negative equity using good home affordable refinance program rates. There are many people who are unable to pay their mortgage. The reason behind it can be their unemployment, loss in business, high inflation or any other unexpected reason. Due to all these reasons people face bad credit history. Looking at this condition of the people the term refinancing was introduced. It is the term in which the borrower decides to pay his current loan through the new loan plan. Harp program is a key solution to the people who face negative equity. The harp stands for home affordable refinance program. This program has been serving people since so long. This program includes many different factors. Interest … Read entire article »

Filed under: Mortgage Refinancing

The Four Options the Bank has When There is a Foreclosure Deficiency

One of the most common questions that a homeowner looking for help with their pending foreclosure asks is – what will the bank do to me if there is a defiency owed? Before I answer that question let me first discuss what I mean by deficiency. When your property is distressed and is facing foreclosure there is often a deficiency owed your lender/bank after a short sale, foreclosure auction, deed-in-lieu-of-foreclosure, etc. In other words the bank only receives back an amount less (i.e. deficient) than what they lent you. That difference of what they were paid back and what you borrowed from them is the “deficiency”. The bank has a number of options to deal with the deficiency you owe them. I want to point out here that the method you use … Read entire article »

Filed under: Foreclosure Help, Foreclosure Law, Insolvency

The Home Affordable Refinancing Program

Article by Pepple Holli Many homeowners try to re-finance their mortgage but aren’t succeeding for many reasons. Whether you observe the financial information on CNBC or Bloomberg Television, or listen to a nearby radionews, I’m sure you’ve heard about the particular existance of government plans aimed at helping homeowners who cannot reap the benefits of low mortgage rates, given that they don’t qualify to refinance their mortgage. This kind of “Harp loan program” is a fantastic opportunity for property owners with mortgages owned by either Fannie Mae or Freddie Mac. Maybe you didn’t get a refinance having a traditional refinance standard bank, because the value of your home has declined? Or maybe you owe more than the marketplace price of your house? Then a Home Affordable Re-finance Program (HARP) may help you … Read entire article »

Filed under: Mortgage Refinancing

Getting a Mortgage Quote

One of the basic set of most people have got to perform before committing to home loans or any other types of home loan is looking for quotes. Quotes are one technique to find out if a house loan is cheap or expensive. It will show you what special offers are far better and precisely what are not. Mortgage quotes are essentially estimates provided by mortgage corporations to property owners and probable buyers. Quotes points the approximated monthly repayments that you will need to make for your property mortgage of selection. There are a large number of factors related to a mortgage quote, which includes the mortgage kind, number of years you want to settle the loan and your credit record. Home loan quotes also vary according to the lender giving you. … Read entire article »

Filed under: Mortgage Refinancing

Issues To Consider When Refinancing a Mortgage

Article by Dan Lewis People looking to have some extra money often look to refinancing their mortgages. Doing such a thing can lead to a lower interest rate and cash in your own pocket. However, there are some things to know prior to considering this. Issues To Consider When Refinancing a Mortgage First of all, it is important to know that most of the payments you have made against your first mortgage are interest. Mortgages, like most loans, are front loaded with interest. 90 percent or more of your payments, at the start, will be going solely to interest rather than principle (the actual amount owed). So, if you’ve been paying the mortgage for a few years, you’ve already paid off a good portion of the interest you’ll be paying for the duration … Read entire article »

Filed under: Mortgage Refinancing

Credit card debt Aid- Credit card Debt Reduction

Article by Meena Jha It is so easy to use a credit card, and shop things when you don’t have money in your hand. But this can be a headache for you, if you don’t make the payments on the right time. The individual person becomes a debtor when he is not able to pay the bills. Soon his nights become sleepless. He gets confused, how he can get freedom from his unsecured liabilities. Nowadays so many kinds of debt programs are ready to work for your debt issue. All these changes are made by Federal government for the benefit of debtors. The borrowers can settle the debt case with few negotiation processes. Even the government gives reward to the bankers if they make patch up with their debtors. The debtor has … Read entire article »

Filed under: Credit Card Consolidation

Refinancing a Mortgage – Researching Refinancing Options

Homeowners have several resources available to educate themselves about refinancing. These resources will list refinancing products on the market, current rates and information about finding a creditable lender. Research is recommended especially for homeowners who are unfamiliar with refinancing. Resources include books, online searches and consultations with refinancing experts. These resources will provide a wealth of information, but the homeowner should be prudent before relying wholly on recommendations made in any one source. Books Books are regarded as a trustworthy source of facts. The homeowner should, however, ensure that the material presented is current. There are many books that contain out-of-date data and inaccurate advice. A recommended approach is to research books that are recently published. They are most likely to contain current information. The finance industry is constantly developing new products and concepts. … Read entire article »

Filed under: Mortgage Refinancing

Debt Settlement Services – Pros and Cons of Getting Debt Settlements

Article by Erik stump The process of settling debt is when a process of arbitration is held between the debtor and the lender and a lower payoff is agreed upon by the lender. Settlement services are taken into account when the customer cannot pay off the creditors and bring his debt to current status. The customer under such cases needs professional advice and counselling. There are benefits and consequences which people should think before the go ahead and settle their debts. 1. Settlement helps the customer to put down his overall debt bill. The amount as well as the over all rate of interest is arbitrated and is reworked so that it becomes easy for the customer to pay back the debt. 2. This effort helps the customer to put down his overall debt … Read entire article »

Filed under: Insolvency

Credit Card Debt Consolidation For The Beginner

Article by Bryan C. Credit card debt consolidation is possible, but most people have no idea where to begin. For most of us, credit card debt begins to pile up before we are even old enough to understand our credit score, or the profound impact it will have on the rest of our lives. Young as we were before, we probably thought of our immediate happiness and ended up making appalling financial choices, spending beyond our means and swiping our credit cards like there is no tomorrow. Thus, in the end, even if we are trying our very best to pay off our loans and spend wisely, we have amassed a huge number of credit card debts. With a fixed pay and necessities to pay off first before anything else, no one can … Read entire article »

Filed under: Credit Card Consolidation

Why Do We Need HARP Loan?

Article by Karan Agarwal HARP is short form for “Home Affordable Refinance Program” and was first designed for those people who owned homes that were serviced by loans from Fannie Mae and Freddie Mac. With this program homeowners were then able to refinance their homes that where slightly underwater that previously didn’t have Mortgage Insurance. This could also be done with loans that were struggling or which had an outstanding balance that was much higher than the value of the house. When HARP first came about, it did not do well in some areas because incomes were being closely watched and loans were capped at a 125% value. This basically meant that you could not own more than 125% the value of the home. There will also be zero limits for value … Read entire article »

Filed under: Mortgage Refinancing

Home Foreclosure and Debt Cancellation FAQ’s

Article by Chris Sims Debt reduced through mortgage restructuring, as well as mortgage debt forgiven in connection with a foreclosure, qualify for this relief. This provision applies to debt forgiven in 2007, 2008 or 2009. Up to $ 2 million of forgiven debt is eligible for this exclusion ($ 1 million if married filing separately). The exclusion doesn’t apply if the discharge is due to services performed for the lender or any other reason not directly related to a decline in the home’s value or the taxpayer’s financial condition. The amount excluded reduces the taxpayer’s cost basis in the home. More information on claiming this exclusion will be available soon. The questions and answers, below, are based on the law prior to the passage of the Mortgage Forgiveness Debt Relief Act of 2007. 1. What … Read entire article »

Filed under: Foreclosure Help, Insolvency

Get Adobe Flash player