0% APR offers are seen everywhere today and, while sounding like a wonderful opportunity, vary with their terms, conditions and possible perks. Most credit cards offering 0% APR are only offering it for a limited time. The amount of the time you'll be charged 0% interest will be stipulated in the offer.
While some 0% APR offers will feature a 0% introductory APR rate for 90 days, others may go up to a year with 0% interest. Obviously, you should always try to find the credit card that offers 0% APR for the longest amount of time. 0% APR offers are usually available to individuals with good credit; occasionally borrowers with less than perfect credit are also lucky enough to get these cards. Another thing that should be determined with 0% APR offers is what the interest will be after the introductory period. If you're a borrower that carries a large balance on your credit card, you don't want a credit card that's going to be high interest after the introductory 0% APR period. Some credit cards charge interest as high as 22-25%. With a high balance credit card, this can add up to a lot of interest per year.
Other perks often seen with 0% APR offers are cash back, bonus points and rebates. These can offer a borrower a lot in savings each month. Many of the 0% interest credit cards will offer 1 point for each dollar spent with the card. The money can be spent on gas, merchandise and even groceries, depending on the card. If you use your 0% APR credit card frequently for every day purchases, you can earn a lot in cash back. Before applying for these 0% APR offers, read all the conditions surrounding the cash back and bonuses so make sure you'll really benefit from the card. In summary, when choosing 0% interest credit cards, look for the longest 0% APR period, the lowest APR after the period as well as cash back offers that fit into your spending habits. If you can find all this plus no annual fee, you've got yourself what sounds like a great credit card.
Bill Glass, Editor-in-chief, DealsForCreditCards - http://www.DealsForCreditCards.com/
DealsForCreditCards is the leading credit card marketplace, bringing consumers and card issuers together online. Compare hundreds of offers side-by-side, calculate balance transfer savings and apply online. Visit our site to compare low interest credit card offers today.
Article Source: http://EzineArticles.com/?expert=Bill_Glass
วันศุกร์ที่ 27 กุมภาพันธ์ พ.ศ. 2552
What to Expect in Credit Cards For Bad Credit
If you're looking for credit cards for bad credit, you'll be happy to know there are many major banks that will offer a variety of credit cards for bad credit or poor credit due to having no credit. Yes, you can have bad credit from no credit. Your scores are determined by the number of debts you have, your total amount due and your payment history with these debts. Payment history is how often you paid your debts on time and how often you were late. The worst your payment history, the lower your scores are going to be. If you have no credit, your scores may appear bad or low strictly because they have nothing to go by.
Even consumers with bad credit can get new credit cards now. There are certain things you can expect when you're applying for cards. You'll probably have a better chance at getting a prepaid or secured card than getting unsecured cards, at least until you've improved yourself. Secured cards, also known as prepaid cards, are new and require you to put down a deposit for the bank to hold, similar to a savings account. The deposit is the bank's security in case you default. Prepaid may have credit limits as low as $200 or as high as $10,000. The amount you're willing to put as a deposit will be the amount of your limit.
Secured are a great way to improve your rating. They can be like a "new life" or a great second chance. If your payments are made on time, banks often release the deposit and change your secured to an unsecured. Unsecured require no deposit but you can expect a higher rate of interest as well as certain fees. Although you may expect high interest and charges and fees, you don't have to automatically accept them. There are many places that will offer credit cards for bad credit and not charge an arm and a leg. Do some good research and read all the terms and conditions of the credit card offers and you'll find the right new offer.
Bill Glass, Editor-in-chief, DealsForCreditCards.com - http://www.DealsForCreditCards.com/
DealsForCreditCards.com is the leading credit card marketplace, bringing consumers and card issuers together online. Compare hundreds of offers side-by-side, calculate balance transfer savings and apply online. Visit our site to compare balance transfers offers today.
Article Source: http://EzineArticles.com/?expert=Bill_Glass
Even consumers with bad credit can get new credit cards now. There are certain things you can expect when you're applying for cards. You'll probably have a better chance at getting a prepaid or secured card than getting unsecured cards, at least until you've improved yourself. Secured cards, also known as prepaid cards, are new and require you to put down a deposit for the bank to hold, similar to a savings account. The deposit is the bank's security in case you default. Prepaid may have credit limits as low as $200 or as high as $10,000. The amount you're willing to put as a deposit will be the amount of your limit.
Secured are a great way to improve your rating. They can be like a "new life" or a great second chance. If your payments are made on time, banks often release the deposit and change your secured to an unsecured. Unsecured require no deposit but you can expect a higher rate of interest as well as certain fees. Although you may expect high interest and charges and fees, you don't have to automatically accept them. There are many places that will offer credit cards for bad credit and not charge an arm and a leg. Do some good research and read all the terms and conditions of the credit card offers and you'll find the right new offer.
Bill Glass, Editor-in-chief, DealsForCreditCards.com - http://www.DealsForCreditCards.com/
DealsForCreditCards.com is the leading credit card marketplace, bringing consumers and card issuers together online. Compare hundreds of offers side-by-side, calculate balance transfer savings and apply online. Visit our site to compare balance transfers offers today.
Article Source: http://EzineArticles.com/?expert=Bill_Glass
วันพุธที่ 18 กุมภาพันธ์ พ.ศ. 2552
A Certified Financial Planner Can Give You Peace of Mind
Personal financial planning is defined as a process of determining an individual's financial goals incorporating the purposes and priorities in one's life. With financial planning, resources are considered with the risk profile and current lifestyle to tailor fit a preferred plan for the client. The plan solidifies a detailed and balanced plan to realistically meet those goals based on the above considerations.
With the goals as guideposts to clearly illustrate a course of action to reach those goals, financial planning is very necessary not only as a guide to a more secured future but will serve as a learning process as well. Finding the right financial planner is a must have in today's unpredictable times.
Going to the financial planner search proper, here are some tips you need to understand before committing to that professional service. Get yourself acquainted with your personal idea of what your planner needs provide as a service. With a good idea of what you want, your search for a planner will work in your favor.
Get yourself a financial planner who is certified, preferably from a reputable a certification board and internationally recognized. A designation from different certifications will likely narrow down your search as this will relate to your specific needs. Most importantly, find someone you are confident in revealing your financial situation with. Trust and confidence is what you are looking for and you can only discern this with a personal interview.
It may sound hard to believe but there are more than 50 financial planning designations. One of the most respected designations is the Certified Financial Planner or CFP. This designation is well recognized and relates to most aspects of financial planning.
The Certified Financial Planner designation is a valuable certification for financial planners. It is conferred by the Certified Financial Planner Board of Standards in the United States and recognized internationally with other organizations affiliated with Financial Planning Standards Board all over the world. To be given authorization to use the designation, the candidate must get through a stringent application process with education, ethics, and experience requirements, examinations, and other tests.
On the other hand, a certification is just half the battle. One of the most important parts of your search is to find the right certified financial planner who you are comfortable with. Since you are going to communicate every detail of your financial life, you must make sure that this person is trustworthy and loyal enough to you. After all, you get a financial planner for peace of mind, so better make sure you are in good hands.
This process might take some time but finding the right one is a tool you will need all throughout your lifetime, so begin the search right now.
How to get Rid of Credit Card Debt Fast with FREE Articles Tips at DollarGuides.com. Help tips and more plus Credit Card Debt Information
Article Source: http://EzineArticles.com/?expert=Paul_J_Easton
With the goals as guideposts to clearly illustrate a course of action to reach those goals, financial planning is very necessary not only as a guide to a more secured future but will serve as a learning process as well. Finding the right financial planner is a must have in today's unpredictable times.
Going to the financial planner search proper, here are some tips you need to understand before committing to that professional service. Get yourself acquainted with your personal idea of what your planner needs provide as a service. With a good idea of what you want, your search for a planner will work in your favor.
Get yourself a financial planner who is certified, preferably from a reputable a certification board and internationally recognized. A designation from different certifications will likely narrow down your search as this will relate to your specific needs. Most importantly, find someone you are confident in revealing your financial situation with. Trust and confidence is what you are looking for and you can only discern this with a personal interview.
It may sound hard to believe but there are more than 50 financial planning designations. One of the most respected designations is the Certified Financial Planner or CFP. This designation is well recognized and relates to most aspects of financial planning.
The Certified Financial Planner designation is a valuable certification for financial planners. It is conferred by the Certified Financial Planner Board of Standards in the United States and recognized internationally with other organizations affiliated with Financial Planning Standards Board all over the world. To be given authorization to use the designation, the candidate must get through a stringent application process with education, ethics, and experience requirements, examinations, and other tests.
On the other hand, a certification is just half the battle. One of the most important parts of your search is to find the right certified financial planner who you are comfortable with. Since you are going to communicate every detail of your financial life, you must make sure that this person is trustworthy and loyal enough to you. After all, you get a financial planner for peace of mind, so better make sure you are in good hands.
This process might take some time but finding the right one is a tool you will need all throughout your lifetime, so begin the search right now.
How to get Rid of Credit Card Debt Fast with FREE Articles Tips at DollarGuides.com. Help tips and more plus Credit Card Debt Information
Article Source: http://EzineArticles.com/?expert=Paul_J_Easton
วันอังคารที่ 17 กุมภาพันธ์ พ.ศ. 2552
Secured Debt Consolidation - Clear Your Debts in One Go
Taking too many debts is not very uncommon. With the ease of credit card issues and the easy availability of items on installments, people tend to purchase them without giving a second thought about the monthly expenses. Add to it some emergencies and your debts are out of control. Under such circumstances, the easiest method that one can think of is declaring bankruptcy. But bankruptcy comes at its cost. You lose almost every asset you have and then you cannot avail any financial help for six years. It is always better to negotiate other options, such as secured debt consolidation.
When you think that you can no longer deal with the debts, you better consult a consolidation expert. The debt consolidation service includes helping you in writing off all your existing debts as well as assisting you in avoiding such situations in future. Debt consolidation can also be secured or unsecured. If your debts are too high, you had better go for a secured debt consolidation. This not only offers to cover each debt of yours as well as providing you with longer tenure to repay off the consolidation debt very easily.
A debt consolidation is in effect transferring all your existing debts into a single debt with lower rate of interest. Too many debts with different rates of interest often cause so much confusion that you cannot keep a proper record of all these debts. A secured debt consolidation service buys off all your debts and combines them into one single long term debt with a lower interest rate. To take maximum advantage of the debt consolidation service, you need to talk freely to the experts explaining them all your income and expenses. This helps the experts at consolidation service to prepare a plan that is not a burden on you.
Baidehi Creeper is the author of loans. where visitors can apply for any type of loans online. Get more quality information about Debt consolidation loans, Secured debt consolidation, Unsecured debt consolidation visit at http://www.debtconsolidationuk.org.uk
Article Source: http://EzineArticles.com/?expert=Baidehi_Creeper
When you think that you can no longer deal with the debts, you better consult a consolidation expert. The debt consolidation service includes helping you in writing off all your existing debts as well as assisting you in avoiding such situations in future. Debt consolidation can also be secured or unsecured. If your debts are too high, you had better go for a secured debt consolidation. This not only offers to cover each debt of yours as well as providing you with longer tenure to repay off the consolidation debt very easily.
A debt consolidation is in effect transferring all your existing debts into a single debt with lower rate of interest. Too many debts with different rates of interest often cause so much confusion that you cannot keep a proper record of all these debts. A secured debt consolidation service buys off all your debts and combines them into one single long term debt with a lower interest rate. To take maximum advantage of the debt consolidation service, you need to talk freely to the experts explaining them all your income and expenses. This helps the experts at consolidation service to prepare a plan that is not a burden on you.
Baidehi Creeper is the author of loans. where visitors can apply for any type of loans online. Get more quality information about Debt consolidation loans, Secured debt consolidation, Unsecured debt consolidation visit at http://www.debtconsolidationuk.org.uk
Article Source: http://EzineArticles.com/?expert=Baidehi_Creeper
Best Credit Cards For Students
If you are student-young or old, full- or part-time, at home or in another state-the last thing you need added to your educational efforts are financial worries and credit card problems. Today there are any number of special "student credit cards" whose arrays of benefits are intended to simplify your budgeting and payments, as well as assist you in establishing a good credit record. As with many consumer-level credit cards, there are introductory rates and balance transfer options that make starting up easy and relatively painless. If you handle everything well while you are in school, you can look forward to graduating with a good credit record. This makes it much easier to get a car loan with a good interest rate, and be approved for mortgages later on. However, a main selling point for the best student credit cards is the range of services, the convenience and the valuable rewards that the lenders offer to you while you're still in school.
Student credit cards offer real flexibility
Some of the first student-specific credit offers were a little light on benefits. The Discover Student Clear Card is a true heavyweight offering, with zero interest for 6 months, no annual fee, a 5% cashback bonus on certain purchases and a 1% bonus on all card purchases. In addition, redeeming your points with certain select corporate "partners" gets you double value.
You can qualify for the Universal Entertainment Student MasterCard just by being enrolled at an accredited four-year college or university. The zero interest introductory rate is good for 6 months on all purchases and balance transfers, and you also earn Universal reward points with every purchase. These points are then redeemed for free CDs, DVDs, movie tickets and more. Having no annual fee, and a 20-day grace period for payments, are just additional reasons to consider the Universal card for students.
Student cards that grow with you
One student-oriented card that can grow with your changing needs is the Citi Platinum Select Card for College Students. There is the usual zero interest introductory period on purchases, balance transfers and cash advances (6 months) as well as Citi's renowned identity theft protection. With no minimum income or co-signer required, no annual fee and free online account management (with expert assistance), this is a card that can serve you well right away, while allowing you to build a credit history for later.
The Citi offer does not include a balance transfer option, inasmuch as it is geared toward first-time cardholders. However, it and other card like it are a good way to start a credit history, and can grow with you as you finish school and start working and building a family. With so many different offerings being right for so many different students, it is impossible to say which credit cards are the best for any one student or group of students. However, since you are already in the habit of studying, just get the facts together and review them. You will make a winning decision in no time.
After founding his first security firm in 1990, Scott McQuarrie built several security-related companies into regional and national powerhouses over the ensuing years. Since 2000 he has focused his sales and marketing efforts on the Internet, which opened up a virtually unlimited, international market for his flagship product line, EZWatch Pro.
The EZWatch Pro brand has come to stand for world-class expertise in electronic security, video surveillance and the myriad technologies involved in both fields. From small houses to gigantic international airports, there is an EZWatch Pro solution to meet any and every residential, business, commercial and government security challenge.
Article Source: http://EzineArticles.com/?expert=Scott_McQuarrie
Student credit cards offer real flexibility
Some of the first student-specific credit offers were a little light on benefits. The Discover Student Clear Card is a true heavyweight offering, with zero interest for 6 months, no annual fee, a 5% cashback bonus on certain purchases and a 1% bonus on all card purchases. In addition, redeeming your points with certain select corporate "partners" gets you double value.
You can qualify for the Universal Entertainment Student MasterCard just by being enrolled at an accredited four-year college or university. The zero interest introductory rate is good for 6 months on all purchases and balance transfers, and you also earn Universal reward points with every purchase. These points are then redeemed for free CDs, DVDs, movie tickets and more. Having no annual fee, and a 20-day grace period for payments, are just additional reasons to consider the Universal card for students.
Student cards that grow with you
One student-oriented card that can grow with your changing needs is the Citi Platinum Select Card for College Students. There is the usual zero interest introductory period on purchases, balance transfers and cash advances (6 months) as well as Citi's renowned identity theft protection. With no minimum income or co-signer required, no annual fee and free online account management (with expert assistance), this is a card that can serve you well right away, while allowing you to build a credit history for later.
The Citi offer does not include a balance transfer option, inasmuch as it is geared toward first-time cardholders. However, it and other card like it are a good way to start a credit history, and can grow with you as you finish school and start working and building a family. With so many different offerings being right for so many different students, it is impossible to say which credit cards are the best for any one student or group of students. However, since you are already in the habit of studying, just get the facts together and review them. You will make a winning decision in no time.
After founding his first security firm in 1990, Scott McQuarrie built several security-related companies into regional and national powerhouses over the ensuing years. Since 2000 he has focused his sales and marketing efforts on the Internet, which opened up a virtually unlimited, international market for his flagship product line, EZWatch Pro.
The EZWatch Pro brand has come to stand for world-class expertise in electronic security, video surveillance and the myriad technologies involved in both fields. From small houses to gigantic international airports, there is an EZWatch Pro solution to meet any and every residential, business, commercial and government security challenge.
Article Source: http://EzineArticles.com/?expert=Scott_McQuarrie
Instant Loans - Makes a Big Difference
It is always difficult to bounce back to your original financial position, once you are faced with severe financial crisis. It gets even tough to sustain your day to day expenses. So, if any unexpected emergency comes up, it only adds burden to your existing problems. However, there are ways with the help of which you can fix these temporary problems. In order to do that, you can seek the assistance of instant loans.
Instant loans are categorized in to short term loans, where in you get to avail quick finances instantly. In fact the amount required is transferred in to your account in less than 24 hours. The application process too is simple, as you have to furnish the required details in an online application form with the relevant details. Through these loans, you get to acquire amount anywhere in the range of £100-£1500 for a period of 7-15 days. The day you get your next paycheck, the amount borrowed is deducted from your bank account.
To qualify for the loans, you need to have a secured job for the past 6 months in any organization or company. You must have attained the mandatory age of 18 years and that you must be in possession of a valid bank account. Apart from theses, you must be a valid citizen of UK. On the confirmation of these details, the amount required is instantly approved.
As these loans are approved without any credit check, applicants with a history of bad credit too can source these loans. Interest rate is marginally high but on taking a comprehensive research of the loan market, you can select a better loan deal. To do so, you can compare the rate quotes of various lenders that are based online.
With instant loans, you can very well take care of any sudden emergency need that generally comes up without any prior warning. These loans are generally ideal for applicants who are employed and have to sustain the various needs with a fixed monthly income.
George Kane has no formal degree in finance, but years of work that he has put in the finance industry makes him perfectly eligible to be called an expert in financial matters. To find Instant loans, personal loans, secured loans visit http://www.loans-4-uk.co.uk/.
Article Source: http://EzineArticles.com/?expert=George_Kane
Instant loans are categorized in to short term loans, where in you get to avail quick finances instantly. In fact the amount required is transferred in to your account in less than 24 hours. The application process too is simple, as you have to furnish the required details in an online application form with the relevant details. Through these loans, you get to acquire amount anywhere in the range of £100-£1500 for a period of 7-15 days. The day you get your next paycheck, the amount borrowed is deducted from your bank account.
To qualify for the loans, you need to have a secured job for the past 6 months in any organization or company. You must have attained the mandatory age of 18 years and that you must be in possession of a valid bank account. Apart from theses, you must be a valid citizen of UK. On the confirmation of these details, the amount required is instantly approved.
As these loans are approved without any credit check, applicants with a history of bad credit too can source these loans. Interest rate is marginally high but on taking a comprehensive research of the loan market, you can select a better loan deal. To do so, you can compare the rate quotes of various lenders that are based online.
With instant loans, you can very well take care of any sudden emergency need that generally comes up without any prior warning. These loans are generally ideal for applicants who are employed and have to sustain the various needs with a fixed monthly income.
George Kane has no formal degree in finance, but years of work that he has put in the finance industry makes him perfectly eligible to be called an expert in financial matters. To find Instant loans, personal loans, secured loans visit http://www.loans-4-uk.co.uk/.
Article Source: http://EzineArticles.com/?expert=George_Kane
วันจันทร์ที่ 9 กุมภาพันธ์ พ.ศ. 2552
Improve Your Finances With a College Student Loan Consolidation
Graduating from college is a huge accomplishment. Finally after years of studying and hard work hard, you're now able to go out into the world with the fruit of your labor - a college degree.
Unfortunately, most of the time that's not all you go out into the world with. Many of you now have to face the daunting task of repaying those student loans that helped you pay for your college education.
Now if you've been fortunate enough to land a great job with a huge salary straight out of the gate then loan repayment probably isn't that much of an issue for you. However, if you're like the vast majority, if you're starting in an entry level position with a decent but not huge paycheck or even worse you may find yourself stuck in the job hunt for a while. So if you find yourself with a financial issue, college student loan consolidation could really give you a helping hand.
College student loan consolidation can be really beneficial if you find yourself needing help with your finances because it offers you options that can help you save money while paying off your loan at the same time. Through consolidation you're able to merge all of your student loans into one. This is really helpful because instead making several payments each month all you have to make is one payment which is usually considerably lower. This benefit alone can help you to manage your monthly finances a little better.
Additionally, another great benefit to college student loan consolidation is the fact that most programs will actually lengthen your repayment period. This is very helpful if you find yourself dealing with money issues early on because it gives you extra time to get your finances in order so it's a good idea to use consolidation to your full advantage.
Learn more about college student loan consolidation at the student loan consolidation money site.
Article Source: http://EzineArticles.com/?expert=J._Dees
Unfortunately, most of the time that's not all you go out into the world with. Many of you now have to face the daunting task of repaying those student loans that helped you pay for your college education.
Now if you've been fortunate enough to land a great job with a huge salary straight out of the gate then loan repayment probably isn't that much of an issue for you. However, if you're like the vast majority, if you're starting in an entry level position with a decent but not huge paycheck or even worse you may find yourself stuck in the job hunt for a while. So if you find yourself with a financial issue, college student loan consolidation could really give you a helping hand.
College student loan consolidation can be really beneficial if you find yourself needing help with your finances because it offers you options that can help you save money while paying off your loan at the same time. Through consolidation you're able to merge all of your student loans into one. This is really helpful because instead making several payments each month all you have to make is one payment which is usually considerably lower. This benefit alone can help you to manage your monthly finances a little better.
Additionally, another great benefit to college student loan consolidation is the fact that most programs will actually lengthen your repayment period. This is very helpful if you find yourself dealing with money issues early on because it gives you extra time to get your finances in order so it's a good idea to use consolidation to your full advantage.
Learn more about college student loan consolidation at the student loan consolidation money site.
Article Source: http://EzineArticles.com/?expert=J._Dees
Loan Modification Terminology
Assumptions - Assumption of an FHA-insured mortgage is a servicing function where the responsibility or paying for a mortgage is taken over by another person through simple assumption or creditworthiness assumption.
Claims - The vehicle utilized for payment of insurance proceeds from HUD to a Mortgagee is the Insurance Benefit Claim form HUD- 27011. This form is utilized for all submissions of claims for Conveyance of Property and Loss Mitigation Option incentives.
Deed-in-Lieu - A Deed in Lieu of foreclosure (DIL) is a disposition option in which a mortgagor voluntarily deeds collateral property in exchange for a release from all obligations under the mortgage. A DIL of foreclosure may not be accepted from mortgagors who can financially make their mortgage payments.
Extension of Time - To comply with required time frames, an Extension of Time may be granted for a mortgagee to initiate or complete a Loss Mitigation (except Pre-Foreclosure Sales) and/or foreclosure action.
Foreclosure - Foreclosure should only be considered as a last resort and should not be initiated until all relief options have been exhausted. When foreclosure cannot be avoided, it must be started quickly and prosecuted vigorously to minimize losses to both the mortgagee and HUD.
General Loss Mitigation - This category includes all Loss Mitigation questions that are not specific to one of the five Loss Mitigation Options.
Loan Modification - A Loan Modification is a permanent change in one or more of the terms of a mortgagor's loan, allows the loan to be reinstated, and results in a payment the mortgagor can afford.
Partial Claim - Under the Partial Claim option, a mortgagee will advance funds on behalf of a mortgagor in an amount necessary to reinstate a delinquent loan (not to exceed the equivalent of 12 months PITI). Currently, these promissory or "Partial Claim" notes assess no interest and are not due and payable until the mortgagor either pays off the first mortgage or no longer owns the property.
Pre-Foreclosure Sale - The Preforeclosure Sale (PFS) Program allows the mortgagor in default to sell his/her home and use the net sale proceeds to satisfy the mortgage debt even though these proceeds are less than the amount owed.
Single Family Default Monitoring System - Data reported to the Single Family Default Monitoring System (SFDMS) is used to measure the effectiveness of origination and servicing activities, and the potential risk to the insurance fund.
Special Forbearance - A Special Forbearance (SFB) is a written repayment agreement between a mortgagee and a mortgagor, which contains a plan to reinstate an asset that is minimum three mortgage payments due and unpaid.
http://www.foreclosure-shield.com/blog.php
Article Source: http://EzineArticles.com/?expert=John_D_Baker
Claims - The vehicle utilized for payment of insurance proceeds from HUD to a Mortgagee is the Insurance Benefit Claim form HUD- 27011. This form is utilized for all submissions of claims for Conveyance of Property and Loss Mitigation Option incentives.
Deed-in-Lieu - A Deed in Lieu of foreclosure (DIL) is a disposition option in which a mortgagor voluntarily deeds collateral property in exchange for a release from all obligations under the mortgage. A DIL of foreclosure may not be accepted from mortgagors who can financially make their mortgage payments.
Extension of Time - To comply with required time frames, an Extension of Time may be granted for a mortgagee to initiate or complete a Loss Mitigation (except Pre-Foreclosure Sales) and/or foreclosure action.
Foreclosure - Foreclosure should only be considered as a last resort and should not be initiated until all relief options have been exhausted. When foreclosure cannot be avoided, it must be started quickly and prosecuted vigorously to minimize losses to both the mortgagee and HUD.
General Loss Mitigation - This category includes all Loss Mitigation questions that are not specific to one of the five Loss Mitigation Options.
Loan Modification - A Loan Modification is a permanent change in one or more of the terms of a mortgagor's loan, allows the loan to be reinstated, and results in a payment the mortgagor can afford.
Partial Claim - Under the Partial Claim option, a mortgagee will advance funds on behalf of a mortgagor in an amount necessary to reinstate a delinquent loan (not to exceed the equivalent of 12 months PITI). Currently, these promissory or "Partial Claim" notes assess no interest and are not due and payable until the mortgagor either pays off the first mortgage or no longer owns the property.
Pre-Foreclosure Sale - The Preforeclosure Sale (PFS) Program allows the mortgagor in default to sell his/her home and use the net sale proceeds to satisfy the mortgage debt even though these proceeds are less than the amount owed.
Single Family Default Monitoring System - Data reported to the Single Family Default Monitoring System (SFDMS) is used to measure the effectiveness of origination and servicing activities, and the potential risk to the insurance fund.
Special Forbearance - A Special Forbearance (SFB) is a written repayment agreement between a mortgagee and a mortgagor, which contains a plan to reinstate an asset that is minimum three mortgage payments due and unpaid.
http://www.foreclosure-shield.com/blog.php
Article Source: http://EzineArticles.com/?expert=John_D_Baker
Credit Counseling - Take Back Control of Your Finances
Credit counselling is a form of debt consolidation that anyone can get from a credit counselling firm or even your local bank. As the number one alternative for debt consolidation loans and bankruptcy - credit counselling means having or making a financial plan that works for your personal situation. So if you are finding that paying your monthly bills is getting a bit overwhelming, you should consider credit counselling before you file for bankruptcy.
Why is Bankruptcy Bad?
Bankruptcy can seem to be a best way out of an overwhelming debt situation - but you should consider all your options before resorting to bankruptcy. Bankruptcy affects your credit rating for quite some time. Though the reason one claims bankruptcy is because they can't afford their bills, ironically, it costs money to go bankrupt. So even though it seems bankruptcy is the answer, make sure there isn't a better way before you go entertain bankruptcy.
Debt Consolidation
Debt consolidation is a very common way to deal with financial distress. In a typical debt consolidation, existing debts and mortgage payments are consolidated into payment. Sometimes you can even negotiate a lower interest rate. For most, however, the term "Debt Consolidation Loan" is what people think of when wanting to get out of debt.
Consolidation Loan
You can approach a bank or financial institution about combining or "consolidating" your debts into one loan. Consolidating your debts into one loan often means paying only one bill instead of several. Even better, you get rid of any collecting companies that call you night and day to create even more stress on your situation. The bank pays off the outstanding debts and you instead owe one lump sum to the bank directly.
Getting quality credit counselling is critical in order to understand how to get out of debt. You can contact a credit counselling firm that specializes in debt consolidation. Or you can make an appointment with a financial advisor at your bank - it's free. It really is possible to take back control of your finances with a little advice on how to handle money.
When doing research on debt management or debt consolidation, consider the Finance Advocate. Featured information and resources on Canadian credit counselling.
Article Source: http://EzineArticles.com/?expert=Shannon_Hutcheson
Why is Bankruptcy Bad?
Bankruptcy can seem to be a best way out of an overwhelming debt situation - but you should consider all your options before resorting to bankruptcy. Bankruptcy affects your credit rating for quite some time. Though the reason one claims bankruptcy is because they can't afford their bills, ironically, it costs money to go bankrupt. So even though it seems bankruptcy is the answer, make sure there isn't a better way before you go entertain bankruptcy.
Debt Consolidation
Debt consolidation is a very common way to deal with financial distress. In a typical debt consolidation, existing debts and mortgage payments are consolidated into payment. Sometimes you can even negotiate a lower interest rate. For most, however, the term "Debt Consolidation Loan" is what people think of when wanting to get out of debt.
Consolidation Loan
You can approach a bank or financial institution about combining or "consolidating" your debts into one loan. Consolidating your debts into one loan often means paying only one bill instead of several. Even better, you get rid of any collecting companies that call you night and day to create even more stress on your situation. The bank pays off the outstanding debts and you instead owe one lump sum to the bank directly.
Getting quality credit counselling is critical in order to understand how to get out of debt. You can contact a credit counselling firm that specializes in debt consolidation. Or you can make an appointment with a financial advisor at your bank - it's free. It really is possible to take back control of your finances with a little advice on how to handle money.
When doing research on debt management or debt consolidation, consider the Finance Advocate. Featured information and resources on Canadian credit counselling.
Article Source: http://EzineArticles.com/?expert=Shannon_Hutcheson
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