In this economy, it is more important than ever to stay ahead of your finances to avoid foreclosure. While most people don’t set out to end up missing a mortgage payment it can happen to anyone as a result of unforeseen circumstances. The good news is that you can take an active role in preventing  … Read more

While credit negotiations do not damage your credit, you may have some damage done by your previously delinquent account status or missed payments. Anytime you are working to repay your debts, make up missed payments or maintain a modified payment schedule, it is important to monitor your credit report closely. Getting The Most Out Of  … Read more

As the foreclosure crisis has surged over the last few years more homeowners have found themselves underwater in debt. With little room for financial resolution many have lost their homes to foreclosure. To make matters worse, some lenders have recently been discovered to be stubborn in their mortgage debt negotiations or even unlawfully foreclosing on  … Read more

Financial experts have all kinds of tips and tricks for helping consumers manage their money better. When it comes to paying off a mortgage, it is said that paying a smaller payment twice a month can help pay off the mortgage much faster than a traditional monthly schedule. Extra Payments A bi-weekly payment essentially means  … Read more

Anyone suffering from mortgage debt or a possible foreclosure knows just how stressful finding a solution can be. Not wildly popular in the past, short sales are now becoming more commonplace in a struggling market. However, the process is riddled with hurdles for the homeowner. Knowing these few secrets can help ensure a successful short  … Read more

Your mortgage is most likely your biggest source of debt. While this is common for most families, mortgage debt and default is becoming all too common in this tough economy. For most people, the threat of losing their home to foreclosure is rapidly approaching and leaving many people feeling overwhelmed. Luckily, homeowners in nearly all  … Read more

Anytime a debt is forgiven by a creditor, the IRS requires a 1099-C form. This form reports the amount of cancelled debt and generally implements the debtor in also claiming this amount as income on their tax return. Whether the debt is cancelled due to credit negotiations or a short sale, many debtors have found  … Read more

When it comes to avoiding foreclosure, a loan modification is one the of best solutions for most homeowners. Why? Because they are the least risky for the homeowner and allow them to keep their home. However, recent reports show that principal reduction modifications may be more risky than originally thought. Modifying Terms and Conditions The  … Read more

Debt settlement and credit negotiations are two ways debtors seek debt resolution, but neither of these ways protects them from harassing debt collectors. When a bankruptcy isn’t right for a particular debtor, what options do they  have to be free from nagging phone calls and endless text or email messages? Taking Back Control Until now,  … Read more

Many homeowners took out second mortgages on their homes a few years back in efforts to help improve their cash flow and fight off the chances of missing a mortgage payment. As more homeowners now sink under their mortgages in a dying market, a new program has been developed to help second lien mortgage holders.  … Read more