Even with financial regulators coming down hard across the country on usurious credit negotiation companies, many people are still handing over thousands of dollars to settle outstanding debt. Debt settlement companies are almost always an inferior option to other debt settlement services and professionals. Debt settlement companies charge large fees Many debt settlement companies will  … Read more

A short sale negotiation is and does as their title suggests—they are experts in the art of the short sale negotiation. This is no small feat, as many short sales collapse because they began on tenuous grounds. Banks are losing money in a short sale, and need to be assured that there is no possible  … Read more

Refinancing a mortgage should be a fairly straightforward process. In this market, however, it has become increasingly difficult to pin down the real value of a home. Disagreements between borrowers and lenders over home value are a leading reason why refinances aren’t approved. Here are some ideas that will keep you everything above board for  … Read more

Though loan modification agreements are approved of on a case-by-case basis, banks typically understand hardship in one of the following ways: Disability or illness Lenders may approve of a loan modification because you or your spouse has fallen on sudden, irremediable disability or illness. In such a case, a bank will approve a loan modification  … Read more

Today’s housing market is currently in a period of prolonged decline and foreclosures have hit all time highs. In many areas home value has stabilized, but failure to read the writing on the wall can be an expensive proposition, leaving you without a refinance and poorer than when you started. Get an appraisal before the  … Read more

There really is no such thing as a non-monetary cost in a mortgage loan modification. The bottom line is that a loan modification reduces a lender’s profitability. This is the very last thing any lender wants, and contradicts the whole reason they are in business at all! There are, however, many indirect costs that result  … Read more

An active contingent status on a short sale designates that that home has received an offer from a buyer and the seller has accepted. Buyer and seller are awaiting the approval of the bank to finish the transaction. The finalization of the sale is ‘contingent’ on the bank’s approval. The active contingent part of a  … Read more

The world of finance, high and low, is a sophisticated place. Understanding its nuances save the amateur financier thousands if not more. Many people choose to refinance their home in order to save money or pay down existing debts. Here are a few things to look out for when you refinance: 1.)   Lenders wary of  … Read more

Credit negotiations are not always successful, in which case you may be forced to seek bankruptcy protection. Once committed to filing for bankruptcy because of severe, crippling debt and hard-nosed creditors you will need to steel yourself for the tough road ahead. Bankruptcy can be a long, anguished process. Failure to do it properly can  … Read more

It isn’t impossible to refinance a home; improbable is more like it. Upside down homes are a scourge to banks and to the national economy. In a regular mortgage modification like a refinance situation, the homeowner is expected to have 20% or more equity in his or her home. IN an underwater mortgage, it is  … Read more