Wednesday, February 25, 2009

Mortgage foreclosure...stop,no more forclosure

In this period of economic crisis Mortgage foreclosure has really become a matter of concern for everyone.In the past few months there has been a rapid increase in foreclosure filings in U.S.Many citizens of u.s were forced to leave their home as they have no other options left to pay off their loan.But leaving your home for being foreclosed without doing nothing doesn't make any sense,don't panic and run away this is the time to be in have several options with proper guidance you can come out of this situation and save your beloved one's from being loosing your home.

If you are a victim of one of them-here are some Tips which will help you,

1.Don't try to ignore your problem and run away-about 50%-60% of the foreclosure is due to the negligence and ignorance of the home owners rather then taking help of your lender,with proper guidance and counseling you can easily come out of this situation.

2.keep in touch with your lender-Try to contact your lender as soon as possible to help you out all the lenders are not bad they don't want your home instead they want their money so they will definitely provide you some options which will be affordable for you to pay off your loan,you just need is to communicate your problem.

3.Don't ignore phone call and mails from lender-Try to be open ,respond to all mail or phone calls may be your letter may contain some important notice of pending legal action or some information which will benefit you.

4.Must know your legal rights-go through your documents know the rights what you and your lenders have,what action they can take upon you and how you will defend yourself with the help of your state Government housing office.

5.Try to contact a HUD approved counselor-Always try to contact a HUD counselor for counseling as they provide some free or low cost counseling and also the will in negotiation with your lender.

6.Cut your extra expenses-your home should be your first priority after your health,so cut your extra expenses that you spend in any lucrative items or entertainment to pay off your mortgage.

7.Use your secondary asset-if you own a second car or, jewelery or even a life insurance policy use it to pay off your loan for the time being,

8,Beware of foreclosure recovery scams-Make a thorough research before going for any foreclosure firm and Don't sign any doc before reading and knowing the truth,take the help of a HUD approved counselor.

so pay your mortgage loan in time and save your home from being foreclosed

Friday, February 13, 2009

Debt settlement...The best way to get out of debt.

Debt settlement is the best way to get out of debt which provides some effective legal technique to repay your debt within a very short span of time.Today it is considered as one of the best method to get rid of debt.First of all you have to register for a debt settlement program when you register the debt settlement professionals starts negotiation with the lenders on behalf of creditors until both the creditors and debtors comes to an agreed reduced pay off amount which will be much more lesser then then your original debt.

In my opinion opting for Debt settlement rather then filing a Bankruptcy ,debt consolidation,or debt counseling is the best way to pay off your debt and it is also much preferred by people.Also in the process you will be able to save a lot of money.

The benefits of debt settlement

1.Debt settlements programs make an arrangement to pay off your debt within 2 to 3 months of time instead of going for a debt consolidation loan program which takes a repayment plan for 2-3 years for overall outstanding amount.

2.Debt settlement program can settle your amount of debt from 40-60% of the actual debt amount.

3.It reduces the total payable amount with a much lower interest rate mainly interest and outstanding loan.

4.The registration process is very easy and also make you free from any credit verification.

5.It also helps us to improve your credit score.

6.It also helps us to free from getting harassed call by your lenders.

7.And above all it helps us to get out from the burden of debt and monthly payment for years.

There are various debt settlement companies which you can opt for but some companies may ask for a huge amount as their fees or may ask for a monthly charge from the consumers account for quickly paying off your debt but in my opinion go for only those company who take their service charge after the settlement,other then this you can also opt for a lawyer to help you out.So go for a debt settlement to get out of debt and live a stress free life.

Friday, February 6, 2009

U.S. housing market suffering a price drop of more then 50 percent…

Since after the worst downturn of us housing market due to the affect of great depression the us housing market shows hope of some positive sign.

In the recent times housing market from Florida to California suffered a price drop of more then 50 percent; according to Mark Zandi chief economist 62% of nation i.e. 381metropolitan area may have experienced a decline in price drop by double digit percent. It is expected that in the second quarter of 2010 price decline may reach to a bottom.

Despite the economic crisis and the poor condition of the U.S housing market there are signs of improvement, necessary steps taken by the recently elected president Obama government will help the housing market to recover fully till the end of this year.

According to the analysis by Zandi on the impact of us economy stimulus package has been viewed by some of the top advisers of Obama administration; hope that the effect of great depression does not have the bad effect on the housing market.