Personal Lending

Two or three years ago, all anyone could talk about was the housing market. It was booming. Builders were building, buyers were buying, and lenders were lending. Everybody was making money hand over fist, and everybody loved it. It didn’t last. The market started to lag in 2006 and has only gotten worse in the [...]

“Blessed are the young,” says Herbert Hoover, “for they shall inherit the national debt.” Debt, in whatever language or guise, is bad. But what if you’ve incurred debts and find it hard to dig yourself out of them? Does this mean you are forever disqualified from owning a home? Some would say yes. Poor credit [...]

I hear from people who are very very frustrated and they will often say that they are simply going to walk away and let their house go to foreclosure sale. This is not the best course. I am always urging people to deal with foreclosure situations so that they don’t go through to the foreclosure [...]

With the proliferation of ARMs, interest only, and other creative mortgage products, there are more people that ever in danger of foreclosure. Perhaps you’re one of them. If you are one of those facing potential foreclosure, don’t throw in the towel just yet. There are steps you can take to avoid foreclosure. Avoiding foreclosure is [...]

How does a foreclosure effect your credit report is a perplexing question. This is because Fair-Isaac Company, who started the credit scoring system, will not share this information. What complicates the issue even further is that all the credit information reported is calculated into the individuals’ credit score as it occurs. The credit score is [...]

So your low adjustable rate mortgage has increased to market rates and you can’t afford the new payment without missing meals or going without gasoline. You’ve spoken with your lender and there’s nothing they can do for you. Refinancing the adjustable rate mortgage won’t help and the fixed-rate terms are just as onerous. Perhaps you’ve [...]

Filing bankruptcy to stop foreclosure is one of the most important decisions homeowners will make when faced with the loss of their homes. It is often the least-desirable option to save the home, due to the negative credit effects, but it can be considered as a last-ditch or backup effort if all else fails. Especially [...]