Mortgage firm plans local expansion, 140 jobs Indianapolis Business Journal
Just another politician that can hide behind his "position" in life. There is a lot more to this story than we will ever know, because he can hide it. It seems that the vocal minority of hate/fear mongers is at it again. Welcoming people from other countries to our state and our colleges/universities is (1) simply the right thing to do (2) what we'd expect if we went to another country (3) a way to build understanding and the spirit of cooperation, much-needed alternatives to distrust and war (4) part of the global education that we all need to survive and be competitive in the modern world (5) consistent with the teachings of Christianity and many other religions. My husband and I were getting simply exhausted keeping up with our four bedroom home and yard. So I did some research andRefinance Help. Fill this form and get help!
Mortgage Refinance & Debt Consolidation Video | Bills.com
www.bills.com Is refinancing your mortgage the best way to pay off your credit card debt? This mortgage refinance video from Bills.com reviews the ...
Mortgage, Refinance, Debt Consolidation, Construction, Home Improvement...?
I'm a loan officer for Access Mortgage and Financial, we do 500+ credit scores. Contact me toll free at 877-LOAN-103 and ask for Josh. We do first time buyers, home improvement, debt consolidation, re-finance and more. We handle all credit scores, good or bad. Don't ever pay for a loan application, they are free and can be done over the phone. You can contact me by phone, email, IM. Please only serious inquiries. We are currently licensed in 14 states
Hmmm, this is the advertising/marketing section so why can't I advertise? I feel like your answer is violating guidelines, you didn't answer the question, you stated your opinion and got 2 points for it. Let the people at yahoo worry about me. And if anyone out there is seriously interested please contact me. For those of you who just want to criticize then save your 2 points for a real answer to someone who will appreciate it.
No, thanks. I'd never do business with someone who doesn't read and follow the guidelines of this site. Posting ads here violates the guidelines.
Debt consolidation or refinance? investment property question?
Ok heres the run down. I bought an investment home that was a real fixer upper. Using a heloc and credit cards to finance the renovations. House didnt sell in a reasonable timeframe so I rented it out (1 year lease that just started). Rent is covering mortgage but not the improvements. (30k) A lot of that was put on cards with a set 0% timeframe that is bout to run out very soon. Should I refinance or try a debt consolidation. Mortgage rates seem to be rising.
I'm not much of a believer in debt consolidation. I think you're just better off paying it off by selling anything you can sell.
The four primary concerns for most consumers are:
i) monthly payment
ii) time to debt freedom
iii) total cost, and
iv) credit rating impact of the debt consolidation program.
Be sure to evaluate each program, relative to your prioritization of these factors.
Since there are a variety of debt consolidation options, including credit counseling, debt negotiation/debt settlement, a debt consolidation loan, and other debt resolution options, it is important to fully understand each option and then pick the solution that is right for you.
Credit Counseling
Credit counseling, or signing up for a debt management plan ("DMP"), is a very common form of debt consolidation. There are many companies offering online credit counseling, which is essentially a way to make one payment directly to the credit counseling agency, which then distributes that payment to your creditors. Most times, a credit counseling agency will be able to lower your monthly payments by getting interest rate concessions from your lenders or creditors. It is important to understand that in a credit counseling program, you are still repaying 100% of your debts – but with lower monthly payments. On average, most online credit counseling programs take around five years. While most credit counseling programs do not impact your FICO score, being enrolled in a credit counseling debt management plan DOES show up on your credit report… and, unfortunately, many lenders look at enrollment in credit counseling akin to filing for Chapter 13 Bankruptcy – or using a third party to re-organize your debts. This is typically a good form of debt consolidation help if you have lots of high interest credit card debt and just want a lower monthly payment. (http://www.bills.com/credit-counseling/)
Debt Settlement and Debt Negotiation
Debt settlement, also called debt negotiation, is a newer form of debt consolidation help that cuts your total debt, sometimes over 50%, with lower monthly payments. Debt settlement programs typically run around three years - so they are a short programs with low monthly payments that can save you the most money while avoiding bankruptcy.
It is important to keep in mind, however, that during the life of your debt settlement program, you are NOT paying your creditors. This means that a debt settlement solution of debt consolidation will negatively impact your credit rating. Your credit rating will not be good, at a minimum, for the term of your debt settlement program. However, debt settlement is usually the fastest and cheapest way to debt freedom, with a low monthly payment, while avoiding Bankruptcy. The trade-off here is a negative credit rating versus saving money. (http://www.bills.com/debt-negotiation-and-settlement/)
Debt Consolidation Loan
Many people think first of a debt consolidation loan when seeking debt consolidation help. Usually, this is reserved for home owners with equity in their homes that can be tapped to payoff other debts. This option typically means a second home loan (or home equity line of credit) or refinancing your primary mortgage. In a debt consolidation loan, you exchange one or more loans for another. The most frequent form is taking out a mortgage loan, which carries a lower interest rate and is tax deductible, to pay off high interest rate credit card debt.
It is important to be aware that shifting unsecured debt to secured debt can create a volatile situation, if there is ever a chance that you cannot afford the new mortgage payment you are now putting yourself at risk of foreclosure! In the case of a debt consolidation loan, most mortgages are 30 year loan, which means that the total cost and the time to debt freedom could be very high… but the monthly payment will be lower than other options and there is no credit rating impact. (http://www.bills.com/debt-consolidation/)
Net-net: While there are many forms of debt consolidation help, many people with good to perfect credit who own homes should look into debt consolidation loans, while consumers with high credit card debt and poor credit may want to explore debt settlement or debt negotiation. However, each consumer is different, so find the debt consolidation help program and option that fits for you.
Debt Consolidation, home refinance question...?
I currently have two auto loans, some credit card debt, and will be purchasing a house very soon. I know they have debt consolidation loans, but all ive seen are fixed rates for them. Do they offer Arm rates for debt consolidation for auto, credit, and mortgage loans? Any info is greatly appreciated. Also ive noticed that quicken loans has the cheapest rates, and best quotes do you know of others that have better?
I AM SURE THEY HAVE CONSOLIDATIONS LOANS FOR ALL AND TO QUALIFY TO BUY ARM LOANS ARE GOOD BUT SHOULD FIX THE RATE AS SOON AS POSSIBLE AND PAY HIGHEST MAX PAYMENT AS POSIBLE
Refi'd Mortgage for debt consolidation - No one paid off creditors ?
When I refinanced my mortgage in May 07 the mortgage broker included 5405.01 in payments allocated to credit collections on my HUD statement.
His broker fees were around 6900.
I explained that the bulk of the CC collections was for a deceased relative's account of whom I was only the authorized user.
My broker said it would tak eso long to dispute it that i was better of refing and paying it off and that my credit score would go up a lot.
Well 7 months later in late November I needed a small home equity loan. I have 165k in equity in my house still and World Savings/Wachovia assured me I should easily get the loan.
Instead they turne dme down due to credit rating.
I pulled all credit reports.
3 of the 4 owed creditors still show up. So my credit was not improved!
Who was responsible for the payoffs ? My mortgage broker or the title company ?
i should add that ive just gone thru junk mail and found a collection agency dated 11/07 still demanding payment on the largest collection. (4600- HSBC wasonly authorized user though) ironically theyre only asking for 50% of total.
if they were payed why are they stll asking?
what a headache. :-(
To last answerer, Im in PA.
HSBC switched the debt to my name after my late grandfather died.
this was several years ago and at the time i was flush with cash and working a 60 hr a week job in nyc. So the only thing i did was call hsbc and write them a letter telling them since i never opened it, to remove me.
i also wrote the credit reporting agencies.
I shouldve followed up. But HSBC are total @##$%^ to have transferred it to me.
Now I will follow up on it one way or another.
The title company should have paid from the loan proceeds all of the pay-outs shown on your closing statement. Check each line item on that closing statement and determine if the credit accounts are listed. If they are, contact the title company and ask the manager why the debts were not paid, and if they were to send you written documentation of the payments.
if this was the title company, them. if it was an attorney, him, etc.
you need that firm or person to prove by receipts that they disbursed the funds as per the list they were given. maybe they did so and the creditors simply did not update the agencies. maybe someone absconded with the funds, too.
GL
Edit* Poster just sent me a nasty email, but since she is blocked im just going to have to post here. You spent 6900 for a broker! HAHAHAHA I bet he is laughing his ass off at you. You have no idea how to manage money thats why you are so in debt and have to refi and keep getting loans. Im sure with how bad you are at money you will be one of the many people that get forclosed on this year. All you had to do was buy one 20 dollar book( maybe even get it for 10 dollars used on amazon) but you let some guy talk you into giving him 6900! HAHAAHAHAHAHA
I am pretty sure the title company would have cut the checks and not the mortgage company. Call your broker and see if they can help.
There is nowhere on God's green earth that you are responsible for debt as an authorized user. Negative credit as an authorized user will not affect your credit (even before they changed the system) and as of recently, positive credit will not affect it either.
What broker would attempt to consolidate debt that is not yours, what lender would finance it, and what escrow company would cut a check for it? NONE!
If you are just an authorized user, dispute it and be on with your life; It's not yours and impossible for you to have consolidated it anyway!
Where can I find the best mortgage rate for refinancing?
I am not sure whether to refinance with debt consolidation, cash out or a home equity loan or line of credit.
Hi there,
I hope yo havent conta ted the gentleman that seems to live overseas, and doesnt really have the concept of the english language down pact yet... Probably not your best bet...
Looks like you basically are in need of $cash$ to obviously pay down some debts... (based on your question)
So to keep it short and simple, out of the three options that you have sited, two of them are the same thing... A cash out refinance is the same as a debt consolidation refinance... A home ewuity line of credit on the other hand is a completely different story...
A home equity line of credit (HELOC) is a quick and easy way to get money out of a property... However, they are one of the worst debts for any person to carry...
Large banks will push these programs on customers for one simple reason.. They make double the interet!!!
A HELOC is basically a giant credit card secured against your home.. It shows on your credit as a "Revolving debt" rather then a "real estate debt" like a mortgage...
A "revolving debt" is the smae as a credit card, or charge card at a retail store... They are bad for your credit if you carry high balances... The average HELOC is over $20k, so your credit is sure to decrease by using a HELOC...
This is also why you always see commercials and billboards promoting HELOC's.. They say low to no costs, etc. There is a reason they want to give you these loans for free... They make double the intere3st because a HELOC IS COMPOUNDED INTEREST (same as a credit card)... (not like simple interest on a mortgage or car loan)
So, if you need cash to pay debts, home improvemets, etc. i always suggest to refinance the mortgage and take out what you need...
I would be happy to assist you with any further questions, or even help you with the loan process if need be.. .I work with providential Bancorp, we are a nationwide mortgage lender...
Feel free to call or email me at any time!!
Jason Fry
Licensed Mortgage Banker
Providential Bancorp
jasonf@providential.com
312-264-6448
http://www.bankrate.com/brm/default.asp (I prefer this one)
http://hsh.com/
i don't know why you need to refinance?
if your total monthly payments is killing you now- is good to consolidate your debts, if you need extra cash- you can go with cash out or equity line of credit. if you do cash out you will have fixed payment, with equity line of credit you only pay for the money you spend- let's say your equity line is for $30000, but you only used $10000- you only pay for $10000, but rate is higher and change monthly and like i say before i don't know what is the reason for you to refinance.
or use a mortgage broker.
will get you customized quotes from top local lenders in your area based on some basic info about your property and current loan.
Mortgage broker says I should refinance before selling/buying home to correct credit rating, yes/no?
Debt/income ratio too high so wants to do a debt consolidation loand prior to marketing my house and me buying another one but is that something to seriously consider? I was going to pay off my debts once the house was sold any way...
Depending on the type of loan you need for your new home, you need to have a DTI (debt-to-income ratio) between 45-50% opn average for a purchase. It makes sense to refi your home to ensure you are prequalified to purchase the new home. It is difficult for a mortgage broker to provide you with a preapproval letter (usually required by a Realtor to prove to a seller that you are a ready-willing-able buyer) unless you meet this DTI guideline. However, ask what your DTI is and ask that to see it on the application. Worst-case-scenario (although unlikely) and if the mortgage broker is unscrupulous and your DTI is fine, they could be trying to get two deals out of one. It is very common to recommend a refi prior to listing your home for other reasons as well - for example if you find your dream-home and you put in an offer, but your current home hasn't sold, your purchase offer will have to have a 'contingent upon current sale' clause. This could become a heart-breaking 'deal-breaker' if your home doesn't sell before the offer expires. A seller cannot be expected to hold the sale for you, while you are waiting to sell your home. Also, it is good to have the cash from your refi in the bank (or better yet, invested) as 'reserves'. This makes a lender feel more confident in lending you money for a hew home, because the extra cash removes risk by showing you could cover your new mortgage payment if for some reason you were to become unemployed. I hope these three reasons help you become more confident with your broker. I know it is scary for everyone, and the media only makes it more confusing for consumers. I commend your questions! Keep asking, information is free!
You have to be carefull in financial matters. Maybe you should begin paying down your debts and wait for a house purchase until you have done so without further borrowing.In the alternative, sell your home, pay off your debts, rent and look for a home to buy.
I am $50K in credit card debt, what are my options in terms of debt consolidation?
I own my home, but do not have enough equity built to refinance and get $50K to pay off credit card debt-what are my options? Someone told me a second mortgage may work, but I have only owned my home for 14 months. Balance on my current mortgage is $77K, home value is max $90K.
You can't borrow your way out of debt. Try and locate a lower interest credit card and transfer your balance. Some accounts have 0 transfer fees and maybe 0 interest or low introductory interest for the first few months. If you have that little grace period you need to pay as much as you possibly can right away and lower that principal amount. Scrimp and save, cut coupons, brown bag your lunch, get a roommate, whatever it takes to start paying down that debt. That is a huge amount of money if you are paying 18%--your interest alone is probably a couple of hundred every money and if you are only paying the minimum you aren't making a dent in the actual debt.
You have my sympathies. I was in debt for a long time and it took a long time to get that debt monkey off my back. Now that it is, I drive a 14 year old car and think carefully about anything I will owe on for more than a few months. It is enormously freeing not to be in debt. You have so many options and you sleep better. Good luck!
Make a list of all the credit card debts, and list them according to how much you owe, and which ones are overdue. Make a list of the minimum payment for each one, too. Make the minimum payment on each card except for the overdue account with the smallest balance. PAY EVERY SINGLE SPARE NICKEL YOU CAN TOWARDS THAT CARD EACH MONTH UNTIL IT'S CURRENT. Then pay the minimum amount, and do the same with the other overdue cards.
Now, starting with the account with the smallest balance, WRITE the credit card company, and tell them you want to pay the balances, but it's impossible to do so with the interest rates they charge. Ask if you can work out a payment plan, where you will pay more each month if they can reduce the interest rate. You have to write them, not do this over the phone. Otherwise they are not obligated to answer you. Work out an amount that you can pay each month, and pay it. Don't go to movies, don't go out to eat lunch at work, don't go out for drinks, don't buy booze, cigarettes, drugs, fast food, sodas, fancy coffee at Starbucks, or bottled water. Don't go on vacation, either. That money goes to make payments.
Do this with on each account. When an account is paid off, WRITE THE COMPANY AGAIN to request the account be shown on your credit report as paid in full, and that it be closed. Then go to the account with the next highest balance, and do the same thing all over again. EVERY SINGLE NICKEL GOES TOWARDS THAT PAYMENT AGAIN.
Lastly - go out and find a 2nd job. If you earn even $50 a weekend by working fast food, that's an extra $150/175 after taxes each month that you can use to pay down this debt. If you get a vacation at your main job, use that time to get more hours at the 2nd job if you can.
It took time to get this deep into debt - it'll take time to get out. If you apply yourself, you can do it.
Your only option now is to cut up all of your credit cards and start paying down those debts to get you out of your current problem situation.
STOP USING THE CREDIT CARDS
http://www.995hope.org/index.htm
Also, some lenders look poorly upon it later on. Some institutions believe that it really is a black mark. It will depend upon the types of deals that your particular company or lender work out, and of course, your own individual circumstance. For some with absolutely NO way out, debt consolidation is a welcome option.
Take a good hard look at all the options and plans offered, and don't let a single company pressure you into something you just can't do. Make sure that you're comfortable with the plan offered before you commit to it.
In any case, it doesn't hurt to investigate debt consolidation as an option. It doesn't cost you anything to find out more information about it.
If you want a place to start your investigating, there's information and listings for debt consolidation providers on the page listed below. You'll probably find something of use there:
http://axalda.info/debt-consolidation.html
Just try:
http://www.proloanz.com/Debt_Consolidation.htm
http://www.mortgagerefinancingatlowrate.com/debt-consolidation-loans.asp
http://www.topamericanmortgage.com/debt-consolidation-loans.asp
http://www.apply4less.com/debt_consolidation.htm
They Will Definetly Help You
Good Luck.
Who pays second mortgage debt in a divorce?
Don't bash me for my methods, but just give your thoughts in the current situation. Ex and I had a super easy divorce where I said, "I'll move out, you keep paying the mortgage on the house and we'll decide later if you refinance or sell it." Well, we have a 2nd mortgage line of credit for all our debt consolidation and home improvements. I have been paying half this 2nd mortgage cuz it was debt we both gathered. But if I gave her the whole house and it's 1st mortgage payment, shouldn't she also be paying the 2nd mortgage? The 2nd mortgage came from equity which I earned half of. Now I'm giving up that equity so isn't that her resposibility now?
For example on a refi. 1st mortgage we owe 200k. House worth 280k. 2nd mortgage balance 80k. She refi's the 1st mortgage, I get 40k in equity. She refi's 2nd mortgage and even if we split the 80k, I just give her back the 40k I earned from equity so I'm even. Is my logic correct here? I should be 100% free of any of the mortgages?
That's exactly what I was asking about. If she refinances, logic is that it'll be for the whole amount (1st and 2nd mortgages) and I'd not fit in anywhere. Some think I'm still responsible for 1/2 the HELOC because I helped create that debt it was put towards. But it's from equity in the home so if I give up my equity portion, I also give up my 1/2 of the HELOC resposibility, right?
if there's a 2nd mortgage of 80k and a 1st of 200k, there is no equity - you took the equity out when you received the cash from the 2nd mortgage - what did you do with that 80k?
you're not entitled to anything and as long as your name is on the mortgages, you're stuck with the liability. You should either sell the house and split the equity if there is any or if ex wants to stay, she should refi in her name-if she can afford it and you sign your share of the house over to her for 1/2 of any equity (probably none according to your calculations)
Getting rid of debt?
I see tons of commercials for getting rid of your credit card debt by refinancing your mortgage/ home loan. The problem is, I don't own a car or a house, I work part-time, and I'm a full time student. Are there companies that do debt consolidation, etc. for people like me?
There are debt consolidation companies that will work with you, but I strongly recommend against using them. As a general rule, they are not doing anything that you cannot do on your own, and they are charging you for that "service".
Here are a few things that you can do to get your debt down to a manageable level.
1. Stop spending money on stuff you do not need. A large coffee a day is around $1.50 to $2.00, that's around $45 -$60 a month. Same for bottled water, cell phone service, renting or buying videos, games, CDs, etc... Dedicate that extra money to paying down the credit card with the highest interest.
2. Set aside some money every month to pay a significant extra amount on one card, the one with the highest interest. Even if it is only $5, it is TONS better then just paying the minimum. As you reduce what you owe, the amount you pay in interest every month will go down allowing you to pay off debt faster.
3. if you are still having difficulty making the payments, for whatever reason, call the credit card companies. Tell them your situation. They would rather work with you, then send the account to collections. There is a lot that they can do, like reducing your interest rate, or allowing you to skip a month or two without penalty.
Best of luck.
are there any mortgage lenders out there that have "stated disability" programs?
i am mortgage loan officer and have a client who needs to take out a loan/refinance for debt consolidation and home improvements. he only owes a little over $20,000.00 on his home and it appraised at $220,000.00. he wants to borrow $100,000.00, so there would still be $120,000.00 of equity left. his credit is poor, thus the need for debt consolidation. and he is disabled with a minimal monthly disabilty check. ofcourse, his wife is on title aswell, but her credit is worse, but she does have a monthly income of a very modest amount. the fact that he recieves disability does show up on his credit report, however, the dollar amount does not. what can be done for this family? are there any mortgage lenders out there that have "stated disability" a program? please respond if you are a lender that can help,or have information on the subject that could help. thank you so much.
Jmac Lending
Eric Nguyen
949-310-1288
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Wells Fargo & Company Q4 2008 Earnings Call Transcript - Seeking Alpha
Los Angeles TimesWells Fargo & Company Q4 2008 Earnings Call Transcript Within the first mortgage portfolio, Wells Fargo Financial had a total of $25 billion of debt consolidation loans originated through Financial’s US retail Wells Fargo stock jumped $5 after $2.54B loss announcement
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