How to Slash a Huge Chunk Off Of Your Loan Balance
Posted by admin on Nov 22, 2008
With the economy as shaky as it is, everyone is in search of new ways to reduce the financial burdens of daily living. One of the greatest concerns among average Americans is their mortgage payments. The interest alone eats up a great big chunk of the family budget. The good news is, despite our current economic situation, you, as a homeowner, have available options to significantly reduce your loan balance. In fact, an unfavorable economy could be favorable to you if you possess the [Read More]
Loan Modification in California
Posted by admin on Nov 21, 2008
While the nationwide foreclosure rate continues to increase, California numbers are dropping. Thanks to the new foreclosure law enforced last September. This law requires all banks and lenders to offer loan modification to delinquent homeowners. This gives these homeowners a chance to avert foreclosures before they could be served. According to the data released by Foreclosure Radar, as early as September, the number of notices of default has decreased by as much as 61.8 percent and the [Read More]
Massachusetts Foreclosure
Posted by admin on Nov 19, 2008
The first three quarters of 2008 have seen a continued increase in foreclosure deeds. According to Warren Group, Publisher of Banker and Tradesman, Massachusetts’ foreclosure rate soared 70 percent as compared to the first three periods of last year. Although foreclosure filings declined in the third quarter due to the new state law imposed last May which postponed the first step of the foreclosure for delinquent homeowners, it was but temporary. For most of these delinquent homeowners, the [Read More]
The Average Age of People in Foreclosure
Posted by admin on Nov 19, 2008
Research data shows that the likelihood of a foreclosure seems to come with age. In a study conducted by AARP last year, out of 2.5 million people sampled, about 1 million of them are aged 50 or over, more than half of the over 50 age-group are delinquent on their mortgages, that is 634,000 and another 50,000 were in foreclosure and had lost their homes during the six-month course of the study. The study also revealed that older Americans have 100 percent more of a chance of being [Read More]
How to Consolidate Your Debt and Increase Your Credit Score
Posted by admin on Nov 13, 2008
In the United States, the ability of an individual to have a loan approved largely depends on his credit score. The higher the credit score, the more likely that you are going to be approved for a loan and of course the opposite is also true. In most cases, you may sustain a low credit score because of unfortunate circumstances that were beyond your control. This situation further limits you from obtaining the necessary resources to live a descent life, such as availing a mortgage for a [Read More]
