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Saturday, 05 April 2008 |
By Shaun Greer
 The rate of foreclosures is at an all-time high and the real estate market is suffering as a result. As the market drops and a recession looms, mortgages and foreclosures are on the lips of anyone talking about the financial future of the county.
President Bush and Treasury Secretary Henry Paulson has announced their plans to help reduce the number of foreclosures and assist troubled homeowners nationwide. However, your next questions should be what does this new plan entail and can I qualify?
The proposed new plan against foreclosures is set to address the issues of many struggling homeowners who have not been able to be reached by housing counselors who have had to individually monitor each homeowner case to determine whether or not assistance was needed.
Now, counselors will be able to more efficiently determine which mortgages need help and what type of help they could use. These counselors can look at a variety of factors like the type of mortgage they have, the size of their mortgage, their FICO scores and payment history to determine whether it would be beneficial |
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Last Updated ( Saturday, 05 April 2008 )
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Saturday, 05 April 2008 |
By Benjamin Brook
 In a lackluster job market many people find themselves unemployed or underemployed often making far less money than when the started accumulating a lot of debt. Now that the income has shrunk and they are seeking some sort of debt relief consolidation may seem like a logical way out of their current dilemma. In the past, many companies offered their services to consolidate people's debt into one monthly payment, usually less than combined payments, but a few bad apples made a mockery out of debt relief consolidation and have faced charges of bilking money from people who could least afford to lose.
The concept of consolidating a person's debt is not new and has been used by many people to help them avoid bankruptcy and face the loss of their home, their car and more importantly their self-esteem. With debt relief consolidation, all of the person's individual debts are consolidated into one loan and a monthly payment is made on that loan until the debt is resolved.
Some companies, instead of offering loans, will contact lenders and negotiate for lower balances on the owed debt |
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Last Updated ( Saturday, 05 April 2008 )
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