by Samantha A. Bow
Do you have student loans? Are you out of college and overwhelmed by the payments you need to be making to pay off your student loans? You are not alone. Most college students graduate with student loans.
College costs a lot and you will need a lot of money to pay for all of it, a lot of money that most people can’t afford. This results in taking out loans. When you have graduated you have to pay these loans back, and it can cost you a lot of money each and every month.
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by Adam Whazzer
Who is there to Help Those Who are Called to Provide Help? I work at a Foreclosure Defense Law Firm which happens to also engage in the practice of Loan Modifications. I am not an attorney nor am I here to provide or imply legal advice. The Loan Mod & Foreclosure Defense business has gotten a bad rap due to some bad apples in the bunch but there are some of us who actually care about what we do and to protect Homeowners and their Families from impending Foreclosure.
It’s unfortunate that myself and others like me are subjected to the grossly inaccurate and fictitiously skewed perspectives that is constantly broad casted by the news without thought to the patriotic men and women who sacrifice valuable time with their own families in an effort to restore stability to the family of another fellow American. The News as a whole has been quick to deliver stories that tell of unscrupulous lenders and what were once prominent mortgage brokers now well on their way to becoming cell mates at local and federal correction institutions nationwide, stories of pathetic excuses for people taking advantage of the elderly, recently widowed and other members of the un-suspecting public.
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Note: I am not an Attorney and any information I provide is not to be taken as Legal Council, my reason for writing this article is only to create awareness for the benefit of Borrowers and Families at hardship. I work for a Law Firm specializing in the representation of Homeowners and Families in braces of Foreclosure. What the bank doesn’t tell you is that in most scenarios, the Mortgage Modification terms the banks are willing to give you voluntarily when you modify your loan directly with them are in most cases substandard in comparison to the modification terms you will receive when hiring an attorney who specializes in Loan Mods and Foreclosure Defense. Again, I am not a Attorney but I have been working for a Foreclosure Defense law firm for longer than most authors on the subject and my Mortgage Lending experience is extensive.
Working for a Loan Modification & Foreclosure Defense law firm, in my personal daily experience it has become apparent that a good law firm is most often able to negotiate much better modification terms for clients than banks are usually inclined to give when a borrower engages in direct dealings without representation. In some cases I’ve even seen scenarios where the law firm is able to secure modifications to a mortgage which result in interest rates an repayment plans for “B-C Paper” or Sub-Prime Borrowers which are far superior than those available to “A Paper” borrowers with spotless credit histories and FICO scores above 725.
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The financial crisis is really starting to become lucid that the phrase “U.S. Housing Crisis” is nothing less than just that and maybe a little deeper. It’s not some overblown publicity stunt to hoax the General Public and give Politicians a opportunity to play batman for some Great Cause which has emerged from the struggle. No, this is not a hoax, not an over extended exaggeration, this is a really horrific time in U.S which has not truly unfolded. If you are one of the majority in the U.S and struggling, you are definitely not alone. The statistics are dark.
The MBA numbers as of August 20, 2009 show nationally 8.22% of all loans are in default (30+ days late) and 4.3% of all loans are in foreclosure. That means out of 45 million mortgages 13.6% are in distress. The even more disgusting|disgraceful| thought is the statistic which states that over 70 percent of owners in distress go into Foreclosure without putting up a fight. Your home that you are responsible for its well being and all the belongings in it and possibly your family, how does one just ignore the impending doom of Homelessness? I myself have been in the same scenario and could not sleep at night much less not act. I’m working 12 hour day minimums and educating myself on every possible facet of the Foreclosure & Loan Modification Process.
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By doing this, you can familiarize yourself with different credit card terms and types. Second, you can compare numerous credit cards that would best serve your needs and lastly, you may now apply for the credit card of your choice by filling out a credit card application by visiting a bank representative or through online.
When you apply for a credit card you must know what a credit card really is. Being a form of borrowing that involves charges, credit cards usually have underlying credit terms and conditions affect your overall cost.
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