Refinance And Mortgage

Refinance And Mortgage

 prices increased 1.1 percent a year after inflation, according to Mr. Shiller’s research. By the late 1990s, however, the rate was 4 percent a year. Happy homeowners were taking about $100 billion a year out of their houses, which paid for a lot of good times.

“The experience we had from the late 1970s to the late 1990s was an aberration,” said Barry Ritholtz of the equity research firm Fusion IQ. “People shouldn’t be holding their breath waiting for it to happen again.”

Not everyone views the notion of real appreciation in real estate as a lost cause.

realtors will never accept that real estate appreciation is a lost cause, nor will anyone who likes to use this fallacy to generate false urgency in buyers.

Bob Walters, chief economist of the online mortgage firm Quicken, acknowledges that the recent collapse will create a “mind scar” just as the Great Depression did. But he argues that housing remains unique.

“You have to live somewhere,” he said. “In three or four years, people will resume a normal course, and home values will continue to increase.”

Housing is special. Irvine is different. How many times have we heard that bullshit before?

All homes are different, and some neighborhoods and regions will rebound more quickly. On the other hand, areas where there was intense overbuilding, like Arizona, will be extremely slow to show any sign of renewal.

“It’s entirely likely that markets like Arizona will not recover even in the 15- to 20-year time frame,” said Mr. Humphries of Zillow. “The demand doesn’t exist.”

Wrong. Arizona may not see peak prices for quite some time, but it will recover. Of all the distressed markets out there, Phoenix is one of those most likely to make a comeback. The economy is diverse and the population is growing. I would buy cashflow properties there if I had more contacts. I am more excited about Las Vegas mostly because I have the contacts to get cashflow properties there. The economic story in Phoenix is actually more compelling.

Owners in those foreclosure-plagued areas consider themselves lucky if they are still solvent. But that does not prevent the occasional regret that a life-changing sum of money was so briefly within their grasp.

Robert Austin, a Phoenix lawyer, paid $200,000 for his home in 2000. Five years later, his neighbors listed a similar home for $500,000.

Freedom beckoned. “I thought, when my daughter gets out of school, I can sell the house and buy a boat and sail around the world,” said Mr. Austin, 56.

His home is now worth about what he paid for it. As for that cruise, “it may be a while,” Mr. Austin said. Showing the hopefulness that is apparently innate to homeowners, he added: “But I won’t rule it out forever.”

The fantasies of Mr. Austin are shared by homeowners everywhere. He has been forced to let go of his fantasies whereas Orange County and Irvine home owners are still clinging to theirs.

The contrarian view

I would like to believe that stories like today's reflect a positive and permanent change in buyer attitudes, but there is another way to see it.

Housing must be nearing a bottom..

... Because now I'm starting to see more articles about how housing is a lousy investment and no one should buy a house. Anyone who's been paying attention knows that this statement is just a wrong as home ownership is always better than renting. Both statements are just flat out wrong. But that doesn't stop the pundits.

One sign of a market bottom is a change in sentiment. When an asset class is strongly out of favor with the investment community is often a great time to purchase it.

I believe we are about to see a leg down in house prices, but what happens after that is a mystery. There are far too many variables to predict. I am planning a future post to look at some of these scenarios and try to assess the probability of each. One possible scenario is that low interest rates persist until the inventory is absorbed, and the leg down we are about to see is the last one. This may not be the most likely scenario, but this winter should be (1) the bottom of the recession, (2) the peak of inventory, and (3) the bottom of buyer demand. When conditions are at their worst is often when markets find a durable bottom. Only time (and interest rates) will tell.

No money in, much money out 

Houses were a great trading vehicle during the bubble. Lenders were giving houses to people with no money down, and when values went up, lenders gave people this money as well. With that kind of lender behavior, it isn't surprising that houses were in high demand.

• The owner of today's featured property paid $570,000 on 1/9/2004. He used a $456,000 first mortgage, a $114,000 second mortgage, and a $0 down payment.
• On 5/8/2006 he refinanced with a $586,000 Option ARM with a 1.25% teaser rate.
• On 11/26/2007 Wells Fargo refinanced his first mortgage for $604,000 and gave him a $37,750 HELOC. How stupid is that?
• Total property debt is $641,750.
• Total mortgage equity withdrawal is $71,750.
• Total squatting time was about 14 months.

Foreclosure Record
Recording Date: 11/12/2009
Document Type: Notice of Sale (aka Notice of Trustee's Sale)
Click here to get Foreclosure Report.

Foreclosure Record
Recording Date: 08/10/2009
Document Type: Notice of Default

Wells Fargo bought the property back for $663,586 on 6/10/2010. They will lose about $100K on the deal.

 

Irvine Home Address ... 18 BAHIA Irvine, CA 92614

Resale Home Price ... $594,900

Home Purchase Price … $663,586
Home Purchase Date .... 6/10/2010

Net Gain (Loss) .......... $(104,380)
Percent Change .......... -15.7%
Annual Appreciation … -42.9%

Cost of Ownership
-------------------------------------------------
$594,900 .......... Asking Price
$118,980 .......... 20% Down Conventional
4.51% ............... Mortgage Interest Rate
$475,920 .......... 30-Year Mortgage
$116,401 .......... Income Requirement

$2,414 .......... Monthly Mortgage Payment

$516 .......... Property Tax
$67 .......... Special Taxes and Levies (Mello Roos)
$50 .......... Homeowners Insurance
$50 .......... Homeowners Association Fees
============================================
$3,096 .......... Monthly Cash Outlays 

-$403 .......... Tax Savings (% of Interest and Property Tax)
-$626 .......... Equity Hidden in Payment
$199 .......... Lost Income to Down Payment (net of taxes)
$74 .......... Maintenance and Replacement Reserves
============================================
$2,341 .......... Monthly Cost of Ownership 

Cash Acquisition Demands
------------------------------------------------------------------------------
$5,949 .......... Furnishing and Move In @1%
$5,949 .......... Closing Costs @1%
$4,759 ............ Interest Points @1% of Loan
$118,980 .......... Down Payment
============================================
$135,637 .......... Total Cash Costs
$35,800 ............ Emergency Cash Reserves
============================================
$171,437 .......... Total Savings Needed

Property Details for 18 BAHIA Irvine, CA 92614
------------------------------------------------------------------------------
Beds: 3
Baths: 3 baths
Home size: 1,599 sq ft
($372 / sq ft)
Lot Size: 4,138 sq ft
Year Built: 1988
Days on Market: 15
Listing Updated: 40415
MLS Number: P747732
Property Type: Single Family, Residential
Community: Westpark
Tract: Pr
------------------------------------------------------------------------------
According to the listing agent, this listing is a bank owned (foreclosed) property.

If your client likes sunlight- loves a well lit home- then this is their home. Dozens of windows in this home and house is sunny and bright and cheery. A place to come home to after the end of a day. Upgraded glazed kitchen countertops. Gazebo/patio cover out back to relax. Centrally located near both freeways and near shopping centers. Lushly landscaped for the gardener in you.

Mortgage protection insurance australia

Mortgage protection insurance australia 2409-2415 (2730)

·  Expatriate Online Banking Services 
bank then you might like to consider the quality of the regulation the bank is subject to are they part of an investor protector scheme for example Also are they an offshore bank and can you benefit from the many advantages offshore status can offer It s also a good idea to consider the client focus of the financial institution you re considering and whether it matches who you are In very broad terms there are basically three types of expatriate client requirement and they are either high net worth simple expatriate and commercial expatriate 1 Private Banking Client Focus Banks with this focus tend to specialise in wealth management services for high income individuals often with an offshore bias Costs and charges will likely be higher but the level of personalised service you will receive will also be higher This type of bank is ideal for those with in excess of 100 000 which they need managing 2 Expatriate Focus Banks with this focus seek to provide simple packaged low maintenance low cost online services for their clients The emphasis will likely be on simplicity cost effectiveness and accessibility 3 International Commercial Focus Banks with this focus are ideal for those seeking banking facilities for commercial purposes e g trading Commercial clients often require cash management foreign exchange international trade risk management services etc If you are clear about the features you require from your banking service provider this will make seeking the best expatriate online banking services so much easier If you would like assistance in realising your requirements and finding an account to match your needs please feel free to contact us Related Articles Living Abroad on a Budget Things to Consider When Moving Abroad How to Move Abroad in 3 Easy Steps Live and Work Well in Singapore Don t Let Anything Hold You Back from Moving Abroad 5 Aspects to Consider When Choosing a Country to Move to Abroad Overcoming Financial Issues Preventing Britons from Moving Abroad Can You Afford to Move Abroad Returning to Live in Britain a Repatriation Case Study Comments Add Your Comment Name Email Location URL Remember my personal information Notify me of follow up comments Submit the word you see below Living Abroad Guides Expatriate Lifestyle Exploring expatriate lifestyle topics in depth and discussing the realities of expat life abroad Expatriate News Keeping you up to date with expatriate related news stories and the latest advice and information for expats living abroad Living in Australia If you re interested in living in Australia you ll find plenty of articles and advice on what expats can expect from a new life Down Under Living in Belize From the cost of living in Belize to what expatriate life is really like in this stunning Central American nation Living in Bulgaria Advice for anyone interested in living in Bulgaria and discussing expatriate related topics for those who have already moved to Bulgaria Living in Canada Discussing everything important about living in Canada. Get more link here
  (2011-11-13)

·  Expatriate Mortgage 
generally the more complicated the circumstances the higher the arrangement fees Those expatriates interested in purchasing buy to let property either in the country in which they reside or in which they are domiciled should find the process of finding a potential lender fairly straightforward particularly if they are British domiciled and wish to purchase buy to let real estate in the UK There are a number of lenders the latest of which is the Derbyshire Building Society who have released expatriate buy to let mortgage products The product on offer from the Derbyshire the latest lender to join the ranks of those offering such finance to British expats has a fixed interest rate of 5 25 percent until 2009 after which the mortgage interest rate will track the BoE s base rate plus one percent Other lenders willing to consider expatriate mortgage related finance include the Bank of Scotland Cheltenham and Gloucester Dresdner Bank Fortis Bank Group the Halifax HSBC Offshore Banking and the Portman Building Society There are also specialist expatriate mortgage and international finance brokers who can assist with securing mortgage and re mortgage products for expats living around the world Anyone considering using such a brokerage should ensure the company are authorised and regulated by the correct compliance body for the country in which they operate for example it is the FSA in the UK and also check out any fees and charges that you may be liable for for the arrangement of finance to purchase property Related Articles Living Abroad on a Budget Things to Consider When Moving Abroad How to Move Abroad in 3 Easy Steps Live and Work Well in Singapore Don t Let Anything Hold You Back from Moving Abroad 5 Aspects to Consider When Choosing a Country to Move to Abroad Overcoming Financial Issues Preventing Britons from Moving Abroad Can You Afford to Move Abroad Returning to Live in Britain a Repatriation Case Study Comments Add Your Comment Name Email Location URL Remember my personal information Notify me of follow up comments Submit the word you see below Living Abroad Guides Expatriate Lifestyle Exploring expatriate lifestyle topics in depth and discussing the realities of expat life abroad Expatriate News Keeping you up to date with expatriate related news stories and the latest advice and information for expats living abroad Living in Australia If you re interested in living in Australia you ll find plenty of articles and advice on what expats can expect from a new life Down Under Living in Belize From the cost of living in Belize to what expatriate life is really like in this stunning Central American nation Living in Bulgaria Advice for anyone interested in living in Bulgaria and discussing expatriate related topics for those who have already moved to Bulgaria Living in Canada Discussing everything important about living in Canada from visas to employment from education to the expat lifestyle Living in Cyprus Examining expat life living in Cyprus and North Cyprus discussing the similarities. Get more link here
  (2011-11-13)

·  Expatriate Investment 
globally you will have access to far more opportunities if you invest globally through a well diversified fund you can reduce your overall risk status Part Four Stager Maturities By staggering or laddering the maturity dates of your income producing investments you will potentially produce a far more reliable and stable stream of income which is not so susceptible to interest rate fluctuations The alternative worst case scenario is that all your investments mature at a time when interest rates are low making reinvestment unattractive and fairly pointless and which can negate any gains you had so far enjoyed Part Five Ongoing Review To build a truly effective expatriate investment portfolio it is essential to have access to the best advice and the best investment products available A good independent financial adviser should be able to assist you to this end and as an expatriate it is worth securing the advice of such an adviser who has global and offshore focus as well as you possibly have the advantage of being able to benefit from offshore investments as well Once you have worked with such an adviser to determine your risk profile investment objectives and to build a well structured well diversified portfolio it is not a question of sitting back and waiting for the maturity of each element of the portfolio You have to regularly review your portfolio as market conditions and investment attractiveness and applicability can all change as can your own personal circumstances Most advisers recommend you spend a little time with them at least once a year if not every six months to make sure your portfolio remains as well tuned to meet your requirements and to take advantage of all the opportunities available as possible If you would like to build your own financial portfolio we will happily make an appointment for you at your convenience with an asset management adviser the adviser will not only help you determine your investment objectives he will also introduce you to the best quality investments available from the global financial marketplace with which you can then build your investment portfolio Or if you have an already established portfolio and think it s about time you had a review to make sure it s working as effectively for you as possible please get in touch and we will endeavor to assist Related Articles Living Abroad on a Budget Things to Consider When Moving Abroad How to Move Abroad in 3 Easy Steps Live and Work Well in Singapore Don t Let Anything Hold You Back from Moving Abroad 5 Aspects to Consider When Choosing a Country to Move to Abroad Overcoming Financial Issues Preventing Britons from Moving Abroad Can You Afford to Move Abroad Returning to Live in Britain a Repatriation Case Study Comments Add Your Comment Name Email Location URL Remember my personal information Notify me of follow up comments Submit the word you see below Living Abroad Guides Expatriate Lifestyle Exploring expatriate lifestyle topics in depth. Get more link here
 (2011-11-13)

·  Expatriate Insurance Brokers 
specific requirements and financial status and then offer detailed advice on a range of products that best match the objectives and needs of the client By using an independent broker the expat will have the chance to find the most affordable insurance with the best level of protection The insurances an expatriate may be offered will likely include income protection for those with a mortgage and or a family to support life insurance for those with dependents home and contents travel and of course health insurance Getting decent health insurance from an expat broker should be top of any expatriate s list of things to do when moving abroad Not only do health care services differ greatly from country to country so the affordability of health care can differ substantially as well An expat does not want to find themselves in the position that they greatly require medical assistance but cannot afford it or worse still that they cannot get the medical assistance they need even if they can afford it The level of health insurance required will depend on the country in which an expat will be living and whether or not they will need repatriation cover as well Anyone who is planning on starting a new life abroad or who has already expatriated but has yet to make provision for health care life insurance income protection etc should consider contacting an expatriate insurance broker for advice and assistance Related Articles Living Abroad on a Budget Things to Consider When Moving Abroad How to Move Abroad in 3 Easy Steps Live and Work Well in Singapore Don t Let Anything Hold You Back from Moving Abroad 5 Aspects to Consider When Choosing a Country to Move to Abroad Overcoming Financial Issues Preventing Britons from Moving Abroad Can You Afford to Move Abroad Returning to Live in Britain a Repatriation Case Study Comments Add Your Comment Name Email Location URL Remember my personal information Notify me of follow up comments Submit the word you see below Living Abroad Guides Expatriate Lifestyle Exploring expatriate lifestyle topics in depth and discussing the realities of expat life abroad Expatriate News Keeping you up to date with expatriate related news stories and the latest advice and information for expats living abroad Living in Australia If you re interested in living in Australia you ll find plenty of articles and advice on what expats can expect from a new life Down Under Living in Belize From the cost of living in Belize to what expatriate life is really like in this stunning Central American nation Living in Bulgaria Advice for anyone interested in living in Bulgaria and discussing expatriate related topics for those who have already moved to Bulgaria Living in Canada Discussing everything important about living in Canada from visas to employment from education to the expat lifestyle Living in Cyprus Examining expat life living in Cyprus and North Cyprus discussing the similarities and differences between the two sides of this stunning Mediterranean island. Get more link here
  (2011-11-13)

·  Expatriate Health Insurance Plans 
you will have an excess think about what you can comfortably afford and remember that it usually applies per claim so in the event you are unlucky enough to have a series of claims in a year you will have to be comfortable paying out the excess every time At the same time the higher the excess you re prepared to pay the lower the premium 5 Think big you need a big name behind the provider to reduce the risk the company will fold up under you in the event that they have too many claims made against them in one year American Express has recently teamed up with GoodHealth who are world leaders in the provision of health insurance specifically for expatriates With the Amex backing this company seem to be going from strength to strength maybe they can offer you a good level of cover for a fair premium for example Click here if you want an online quote 6 Family plans can be far cheaper than individual cover per family member 7 If you stop smoking lose weight and exercise more and are generally a healthy person who takes an active approach to remaining fit and well you will be rewarded by your provider with lower premiums 8 If your employer offers health insurance as a benefit in kind seriously consider taking it You must examine carefully all the costs and any taxation implications of course but know that group cover can be a far cheaper alternative as the insurers offer discounts for more members and your employer will likely pass these savings on to you 9 The provider offering the lowest premium doesn t necessarily mean you ve found the best expatriate health insurance plan Nor does it mean you ve necessarily found the cheapest plan The low premium may suggest less cover higher excesses and fewer conditions covered Be careful be astute and try and ensure you re comparing like for like 10 Finally think long term are your requirements likely to change are you planning on relocating or repatriating will you still require health insurance and if so will a provider you re considering be able to continue to cover you The longer you remain with a provider they may reward you with lower annual renewal costs discounts on additional travel insurance for example and so it pays to find out whether your provider will be able to offer you all you need for as long as you need it Related Articles Living Abroad on a Budget Things to Consider When Moving Abroad How to Move Abroad in 3 Easy Steps Live and Work Well in Singapore Don t Let Anything Hold You Back from Moving Abroad 5 Aspects to Consider When Choosing a Country to Move to Abroad Overcoming Financial Issues Preventing Britons from Moving Abroad Can You Afford to Move Abroad Returning to Live in Britain a Repatriation Case Study Comments Add Your Comment Name Email Location URL Remember my personal. Get more link here  (2011-11-13)

·  Expatriate Health Insurance Needs Identified 
premiums could be higher than average in such nations Other trends relate not to medical practices but to the climate encountered by the expatriate in question for example in Africa there are more skin lesions removed than in Europe and in places where abortions are conducted illegally there are higher than average incidences of surgery being required after illegal abortions are carried out Expatriates living in Africa are also more likely than others around the world to require the removal of cataracts and their appendix according to the survey by BUPA and those living in the Middle East have a higher than average requirement for a hernia repair operation don t ask us why The top ten list worldwide excluding America of course is a colonoscopy caesarean delivery CT scan cataract surgery gastroscopy hysteroscopy MRI scan removal of skin lesion cardiac catheterization and keyhole surgery of the knee So the general conclusions that can be drawn from the survey are that expatriates should ensure their potential health care needs are fully covered by any expatriate health insurance policy they take out and that depending on where in the world they are going to be living the health care provisions available locally as well as the local climate cuisine and culture of medical practice carried out their expatriate health insurance needs could differ greatly For a free assessment of your likely needs you can give Goodhealth a try they have an exclusive association with American Express for the specific offering of tailored expatriate health insurance policies and you can get more information about their plans and policies online Related Articles Living Abroad on a Budget Things to Consider When Moving Abroad How to Move Abroad in 3 Easy Steps Live and Work Well in Singapore Don t Let Anything Hold You Back from Moving Abroad 5 Aspects to Consider When Choosing a Country to Move to Abroad Overcoming Financial Issues Preventing Britons from Moving Abroad Can You Afford to Move Abroad Returning to Live in Britain a Repatriation Case Study Comments Add Your Comment Name Email Location URL Remember my personal information Notify me of follow up comments Submit the word you see below Living Abroad Guides Expatriate Lifestyle Exploring expatriate lifestyle topics in depth and discussing the realities of expat life abroad Expatriate News Keeping you up to date with expatriate related news stories and the latest advice and information for expats living abroad Living in Australia If you re interested in living in Australia you ll find plenty of articles and advice on what expats can expect from a new life Down Under Living in Belize From the cost of living in Belize to what expatriate life is really like in this stunning Central American nation Living in Bulgaria Advice for anyone interested in living in Bulgaria and discussing expatriate related topics for those who have already moved to Bulgaria Living in Canada Discussing everything important about living in Canada from visas to employment from education to the expat. Get more link here
  (2011-11-13)

·  Expatriate Health Care and Overseas Welfare 
on the beach or chill out in a deck chair when you get some free time consider parking your car two streets away from your house and walking the last 1 2 mile home on a daily basis or even parking 2 blocks from the beach and strolling along to your favourite sandy spot Alternatively get a dog and take him for regular walks he ll love you for it You don t like pets Then hire a bike go on a walking weekend or weed the garden Simply by adding a little physical activity into our lives we will be pushing back the years and ensuring that we are able to fully enjoy the opportunities our new life abroad affords us Maintain a healthy lifestyle Enjoy nutritious food adequate sleep avoid nicotine and keep alcohol consumption within sensible limits Reduce stress Everyone suffers from stress sometimes and relocating abroad can in fact be one of the most stressful things you ll ever do But such short term stress can be reduced with effective planning and familial support and it is actually long term stress that poses the most significant health risks So once you ve relocated do everything within your power to reduce your daily stress levels And if it is beyond your control to remove certain stresses affecting your life never feel embarrassed or afraid to seek help If you can identify the primary reason for your stress maybe you can begin to see what you need to do to fix it I know this is so often easier said than done but please remember it is your health and your happiness at stake here and that has to be your priority Be Proactive You know your own body better than any one else Listen to it and react accordingly when it is trying to tell you something Don t ignore potential symptoms recognise them and get them treated Related Articles Living Abroad on a Budget Things to Consider When Moving Abroad How to Move Abroad in 3 Easy Steps Live and Work Well in Singapore Don t Let Anything Hold You Back from Moving Abroad 5 Aspects to Consider When Choosing a Country to Move to Abroad Overcoming Financial Issues Preventing Britons from Moving Abroad Can You Afford to Move Abroad Returning to Live in Britain a Repatriation Case Study Comments Add Your Comment Name Email Location URL Remember my personal information Notify me of follow up comments Submit the word you see below Living Abroad Guides Expatriate Lifestyle Exploring expatriate lifestyle topics in depth and discussing the realities of expat life abroad Expatriate News Keeping you up to date with expatriate related news stories and the latest advice and information for expats living abroad Living in Australia If you re interested in living in Australia you ll find plenty of articles and advice on what expats can expect from a new life Down Under Living in Belize From the cost of living in Belize to what. Get more link here   (2011-11-13)

Mortgage Loan Debt Consolidation

      Mortgage Loan Debt Consolidation
Back in November I mentioned the importance of cleaning up your existing prospect pool. So, now that you have deactivated those who are not really prospects and have identified those with true affinity, what is next? Now may be the time to take on a database screening.  Screening can mean different things to different people. For some it means finding wealth, for others it means determining who is likely to give and at what level.
Wealth screening is also known as “list matching.”  Names from your database are “screened” against names in external databases to find matches. The matches then return financial, biographical and philanthropic giving information. A score, indicating the reliability of the match, is also returned so that you can be sure that your John Brown is the same John Brown with the 10,000 shares of stock in XYZ company. If the screening company also provides information on constituents’ gifts to other organizations, you may get some indication of philanthropic intent. 
Data modeling also uses lists but not for one-on-one matching for wealth.  At a very basic level, it applies mathematical formulas to existing statistical information such as the U.S. Census, credit reports, and IRS giving data to predict giving among groups of people. A group might just be a zipcode or a city or state. Data modeling can also incorporate information about your constituents to make it more meaningful. Sometimes a wealth screening is performed as part of this more tailored approach. A score, indicating whether the prospect is a major gift or an annual fund prospect, is returned for each of the names screened.  Finally, there is a third level of data modeling that involves a customized model based on the characteristics of your database and donor pool. This model is considered by many to be the most accurate but it is also the most expensive.
Which of the screening/modeling methods is best for your organization?  We’ll try to provide some tools to help you reach that decision in an upcoming blog.

Debt Management Mortgage

   Debt Management Mortgage

The American Dream includes homeownership.  Real estate was the way to go if you wanted to be financially secure.  You could buy property and land and it would increase in value.  You could have purchased a home in 1960 for $160,000 and in 1990 it would be worth $ 350,000 and it would be paid for.  REAL estate just kept going up and up in value.  The sky was the limit.  You could get another loan against it and say make improvements that would make your home worth even more money. You get a loan to pay for your son or daughter’s education (for college) or at an ivy league academic institution.  It was too good to be true. 
For each reaction there is an equal and opposite reaction. Mortgage loans were varied and some bordered on criminal.  You had to have a license to be able to be a loan officer.  It was that complicated. So it stands to reason that the average person may not know all there was to know about the different types of loans.  And there were so many.  Take for instance, the no documentation loans that became available.  You did not have to have proof of income because you did not even have to have a job! Now most of these loans were at the highest interest rates imaginable.  And the loaner company or corporation did not even plan to “carry or keep” the debt.  They planned to sell it to another company or corporation.  The person obtaining the loan, in most cases eventually would get to the point where they could not pay their obligation/loan.  The company or corporation who held the loan that was defaulted on now had the property.  
When all was said and done and the cycle came full circle, we had another perfect example of the Domino Effect, the sky is falling and GREED and the repercussions of greed.  Take responsibility people.  Own your mistakes.  Learn from them.  Corporations, Insurance companies, financial institutions, loan officers, appraisers, and lastly the individuals who took advantage and got taken advantage of.  Stop pointing fingers and let’s work together to get solutions.  And don’t just go for whatever someone tells you.  If you don’t know ask somebody.
On another note, the loan modification program or (HAMP) may be the beginning of the solution.  We will watch and see.  Time will tell.

Debt Consolidation Loans

           Debt Consolidation Loans

 

Help's close at hand with our Fast and flexible Debt Consolidation Loans

Are you finding it tough to keep on top of loans, cards, bank overdrafts and every day bills? Worry No More.

Keep Those Lenders Quiet For Peace Of Mind

We handle all the tiresome form filling and work with the lender so you don't have to

Stop interest & excessive charges dead in their tracks

We'll speak with the lenders you currently owe money to and do our best to halt further interest on your current debt

Slash your debt payments significantly

We can make it possible to pay off more than one debt with a standalone reduced payment on a monthly basis

What Debt Consolidation Loan Services Do We Offer?

We Offer 100% Acceptance with NO Broker fees. You dictate the repayment term, One Affordable Monthly Repayment, Instant Application Online.

When you fill in and submit the form on the right, your details will only be given to a single debt advisor who will contact you about your debt problems. No credit checks will be undertaken without your knowledge and your details will not be given to any other third parties..

There are several types of loans that can be used to consolidate debt. Consumers should be aware of each of them and seek debt consolidation help as soon as they find themselves unable to pay their bills.

An Overview Of Debt Consolidation:

by Brian Talbot, DCL UK

Debt is one of those things that can sneak up on a person. One missed payment becomes two and soon people are up to their ears in debt. All the credit card balances are at their limits and additional items are being purchased on payment plans.

By this point, the credit score is affected and the consumer has no idea how to improve the financial situation. You may already be working multiple jobs or family obligations may prevent them from taking on additional work.

Everyone can find him or herself in debt for nearly any reason imaginable. Recognizing the issue may help prevent the behavior from continuing but it does nothing for the debts that already exist.

The best way to handle the situation is to take action.Debt consolidation help comes in the form of counseling and debt consolidation loans. Professional debt counselors offer personal and business debt consolidation advice designed to lessen the burden of debt as quickly as possible.

A debt consolidation loan is one tool they often recommend. Many UK consumers encounter a financial crisis during their lifetime. The situation may be due to job loss, overspending, or a personal or family illness or other emergency.

In most cases, this status is not permanent, provided that the individual looks for ways to rectify the issue. The best thing that a person facing debt can do to prevent the situation from worsening is to deal with the issue, not ignore it.

Paying no mind to a mounting pile of debt will only make it grow. Though you may have heard of the term debt consolidation, many people do not understand what it means. This process involves consolidating outstanding debts into one monthly payment.

Debt consolidation loans feature a lower interest rate than exists with each individual debt. They also have a lower monthly payment than what the consumer was previously paying for total outstanding debts.

People use this type of finance to get themselves out of debt quickly so they can avoid more severe financial situations like bankruptcy. By consolidating their debts, consumers organize outstanding bills so they will not miss any payments.

For anyone struggling to balance career and family life with running a household, this in itself can make all the difference. Having only one bill to pay on a specific date means no more late or missed installments, helping to repair the credit score.

People turn to companies like ours because their monthly store card, credit card, and loan payments have become unmanageable. Perhaps they did not receive an expected raise at work, maybe they overspent, or they may have lost their job.

Whatever the case, they are looking for a way to replace their expensive debt payments with a single payment that is lower than the sum of the others.

By contacting us you can get help from professional debt experts, who can help to improve your financial footing, begin repairing your credit history, and get your credit score to an acceptable level.

So How Does This Work?

Before anyone includes a loan in the debt management plan, they should understand how it works. Outstanding debts are first listed and then summed, resulting in a figure representing the total amount of outstanding debt.

You can then apply for a debt consolidation loan in this amount and use the funds to repay the individual debts. What remains is the loan itself and you make monthly payments on this loan over a predetermined period.

Interest rates and repayment periods vary depending on the financial status of the borrower. The monthly payment amount is dependent upon the total amount borrowed and the repayment term.

Borrowers can lower their monthly payments by extending the repayment period of the loan, but in the end, you will pay more total interest. Most find this acceptable, as it allows you to live within your means and have some discretionary income each month.

Secured debt consolidation loans require that an asset like the home be provided as collateral. You can typically borrow between 5,000 and 75,000 pounds. You may even be entitled to borrow up to 125 percent of your property value.

With a secured loan, it is especially important that the borrower make timely and complete payments, as failure to do so could place your home in jeopardy. Defaulting on this loan can cause the home to be repossessed, a situation much worse than any amount of debt.

There are a few things to be aware of when considering debt consolidation loans. A very important aspect is that only unsecured debts can be consolidated.

Credit card, personal loan, line of credit, and some student loan debts should qualify. However, a mortgage will not because it is backed by an asset, the home. A car loan is also not eligible for consolidation because the car is used to back it.

Another factor to consider is that though the damage will not be as severe as bankruptcy,  credit score can be affected. When some companies negotiate a settlement with a creditor that is less than what is owed, this often appears on the credit report as a failure to repay the amount promised.

Less reputable firms may allow accounts to remain unpaid for several months before settling them, damaging the persons credit score in the interim. Over the short-term, using a debt consolidation loan to repay outstanding debts should not significantly affect the credit score either way.

Though new debt has been assumed, the credit report will reflect that other debts have been repaid. Making the required payments on time over the long-term should improve the credit score.

How To Get A Debt Consolidation Loan:

After adding up all the debts that qualify for consolidation, you will know how much money is needed. Listing the current interest rate next to each item provides a quick assessment tool for the loan comparison process.

As mentioned previously, interest rates, length, and amount loaned will vary. The type of interest rate will also differ, with some lenders offering fixed rates while others offer adjustable rate loans.

Income, credit rating, and amount of equity determine which programs and rates of interest will be offered.

During this process, we will take the time to research the reputation of the lender.

There have been unfortunate situations where consumers were approved  but their existing debts were not repaid until many months later and, in some cases, not at all.

Once a reputable lender offering an excellent loan is found, we will help  you complete the application.

Online lenders may allow this to be done electronically. All requested documentation should be provided in the desired format, which may be in person or via, mail, fax, or email. All the loan and credit card statements that will be paid off should be included in this documentation.

This provides the lender with the information necessary to contact these creditors. It takes approximately three to four weeks to complete the process. The lender may contact you periodically to request additional information or provide a status update.

Some lenders require that the debts be repaid through escrow. This means that the existing balances will be repaid when the loan closes. This requires patience on your part and maintaining the accounts so they do not fall into arrears.

A debt consolidation loan should reduce the overall amount of interest and monthly payments made for the relevant debts. Once these balances are repaid, you are left with only a single payment to make each month.

Some lenders allow borrowers to select their monthly repayment date. If this is offered, review to budget to find a date when the required amount of money will be available in the bank account.

If direct debit payment is an option, consider this because it ensures timely payment each month.

Debt Consolidation Loans UK

A single lender can offer an ample selection of debt consolidation loans and in addition to finding lenders via our site, you can read informative articles containing advice from debt experts.

We also have access to electronic resources, materials, and tools provided by counseling services. Being able to conveniently access all this information any time of day has made us a debt management team you can trust.

However, you should not only know how to get yourself out of debt, you also need to understand how to prevent the situation from reoccurring. Having unpaid bills is never a pleasant situation, but when you know there is help online or over the telephone, the situation is easier to handle.

Lenders are willing to provide a wide range of funds to individuals who want to consolidate their debts. You have the ability to quickly compare debt consolidation loan terms and conditions, while taking as much time as needed to make a smart decision.

You can even meet with lending officers in person to explain their situation and get assistance with finding the best solution. For many, an unsecured or secured debt consolidation loan will be the answer.

After completing a paper or online application and providing the required documentation, an approval decision will be made and if it is positive, you will receive the money within a few weeks. No one wants to be taken advantage of and this is why we thoroughly research all appropriate consolidation lenders.

The Office of Fair Trading is the UK government agency for consumer protection. It has investigated the practice of consolidating debts and study results are available on its Web site.

The UK Consumer Credit Counselling Service has been offering free debt counseling to UK residents since 1993. Over half a million people receive assistance with debt issues each year and over 100,000 of them are placed on a debt management plan designed to improve their financial situation. Consultations are private and help begins by clicking the debt help button on the home page of the CCCS Web site. Knowing that there are organizations willing to offer help and tools like debt consolidation loans that can relieve debt is comforting.

The sooner people take control of their debt, the better because it enables a solution to be implemented before things spiral out of control. There is no better feeling than repaying all debts and beginning to rebuild financial status.

Is Your Debt Consolidation Company Charging You Too Much?

Getting out of debt is a long and sometimes frustrating process. At times, the best route to go is in consulting a debt consolidation service to help.

However, some of these companies are fraudulent and are doing nothing more than submitting your payments for you. If they are charging excessive fees, it may be best to look elsewhere.

For instance, if you are paying a total of £120 per month and the company is deducting £25 pounds per month as fee, you are still paying over 20 percent in interest charges.

The whole point of using a company such as this is to lower your debt interest rate, not increase it.

Companies that charge fees such as this will often promise a reduction in interest rate and organization of your bills.

However, even if they get your bad credit credit cards reduced from 29.9 percent to 10 percent, you are in essence still paying 15 percent interest on the debt.

It is not uncommon for them to take your first payment as a fee and then apply all payments afterwards to your debt. If this is the case, you should receive a schedule of payments detailing where the money is going and projected date of complete payment.

If they have excessive fees, they are more than likely ripping you off. When you are trying to get out of debt, every penny counts, so be very careful and avoid fraudulent companies.