When facing mountains of debt, many people begin to search out their debt relief options. One of the most tricky aspects to debt relief has to do with the type of debt. Secured debts, like a mortgage or car loan, are more difficult to resolve since the lender holds the power of foreclosure or repossession.  … Read more

A mortgage is a long term investment, one that soaks up the majority of each household’s budget. While paying extra on your mortgage principal can help you get out of mortgage debt and own your home free and clear much faster, it isn’t for everyone. If your home is currently worth less than you owe  … Read more

In light of recent lawsuits, big banks have had to face the music and pay up regarding their behavior in certain  mortgage lending practices. Most of the lawsuits have come after struggling homeowners jumped through hoops to save their homes, only to find out that lenders weren’t holding up their end of the deal. Many  … Read more

Until now, the short sale process has been riddled with waiting games and lender hang-ups that caused homeowners undue stress in an already overwhelming time. Consumers who are working through a short sale as a means to avoid foreclosure will soon see improvements in the process. Changes Ahead Big lenders have decided to make a  … Read more

It isn’t uncommon for tax debt liability to be calculated incorrectly, either by the taxpayer or the IRS. There have been cases in which people who owed more than they could afford, entered an IRS payment plan wrongly due to inaccurate calculations. These innocent taxpayers ended up paying more than they actually owed because they  … Read more

Since President Obama released the Home Affordable Modification Program in 2009, less than one-third of the estimated borrowers in mortgage debt have sought help from the program. Part of the problem has been a lack of consumer education about their loan modification options, the other has been the lack of willingness of the part of  … Read more

We all want a better credit score. Even if you are significantly in debt or delinquent on some accounts, it is possible to improve your score. However, the credit improving process takes time and patience. You won’t be able to boost your credit overnight, but there are ways to get you on the path to  … Read more

While some of us have been busy making our lists and shopping for gifts, many families around the country have been planning how to manage their home in foreclosure this Christmas. The unfortunate reality is that many people will face losing their homes this holiday season. However, Fannie Mae and Freddie Mac and several other  … Read more

In the past, banks had no problem making money off of consumers and their credit cards. With hidden fees, delinquency charges and unregulated interest rate hikes, the credit industry was quite lucrative. However, after waves of financial crisis has lead many into credit negotiations or bankruptcy, the government stepped in to better protect consumers and  … Read more

While settling tax debts, or back taxes, isn’t all that difficult in itself, there are a few aspects of the process that often produce snags for taxpayers. The IRS is quick to act on unpaid taxes and may implement certain consequences for non-payment, which often takes the form of delinquencies fees. Once assessed these IRS  … Read more