Monthly Archives: May 2014

Federal Government Wants You to Keep Your Home with a 75 Billion Dollar Loan Modification Program!

If you have a loan for your primary residence but you are having difficulty making payments, then the Federal Government may be able to help you out. They have created a loan modification program to help families in situations like yours. If you can prove that you are struggling to pay the mortgage every month, or will be in the near future because of cut wages, then you may qualify for this program.

There are a number of banks and other financial institutions that are participating in this program. For the service providers who are willing to take part, they will receive $1000 each year for every family that is in the program, while the homeowner will have the equal amount taken off of their principle. That is not the only benefit. The monthly payments are not allowed to be any more than 38% of the family’s monthly gross income, and the interest rate will be lowered by 2%. Also, these mortgages can be extended to last up to 40 years. Maybe you wouldn’t want to have the responsibility for that long, but for those who need it, the option is there.

For the families who qualify for this program, it is an opportunity to keep your home from being taken from you. Even if you don’t think you would qualify, it would be worth your while to check out the Federal Government’s website to read all of the rules and eligibility criteria. They also have the formula by which they would calculate monthly payments. You will find it in no time, and can then make that important decision. It could be the key to keeping your home.

Loan Modification Companies and Industry Information

Similar to the refinance boom of the 2000’s we are now dealing with the onslaught of loan modification and foreclosure companies coming to the rescue of fragile homeowners. Mind you not all of these companies are taking people’s hard earned money and running away of to Tahiti or god only knows where!  As the saying goes “a few good apples spoil the bunch”, so can be said for the loan modification industry.

So how is your government and lenders preventing this happening to you?  Local and Federal government’s have stepped it up and have strict rules and regulations for modification and foreclosure companies.  Before you consider doing business with a company do your research!!  Check out your local government Banking Department website and see if there is a list of loan modification companies who may be on a HOT Sheet and under review for bad practices.  You can also:

-         call your lender directly

-         call the government’s foreclosure prevention hot line 888-995-HOPE

There are also a few good websites that offer free advice and application assistance these so called do it your self modifications can save you a lot of money!!! My favorite website for FREE advice and a FREE down loadable lender application packet is:

This company has a very user friendly website and actually walks you through filling out the Request for Modification Affidavit.  They also have their own blog you can find good pointers on applying for modifications and the ongoing changes and updates in this industry and other housing related articles and posts.  You can find this at:

Bad Credit Student Personal Loans: Poor Credit Can’t Snatch the Privileges

Financial problems are big hurdle for many students who want to pursue higher education. Getting a student loan is very easy for a student. But there are not many lenders for students having bad credit history. Bad credit student personal loans are very helpful for students having bad credit history. The interest rate of loan is a bit higher but that too is not much due to the tight competition in financial market and where your future is on bargain.


Bad credit student personal loans aims at providing financial help to students suffering from adverse credit history. With bad credit student personal loans students can avail financial help at low interest rate. As the loans are advanced ignoring the fact that the borrower is having bad credit, interest rate is higher compared to other loans. To minimize the interest rate one can opt for secured bad credit student personal loans. You need to put an asset of yours as collateral against the loan amount to avail a secured bad credit student personal loan. Also try to keep the loan amount as low as possible; this will enhance the chances of approval of loan.


You can apply for a bad credit personal loan by visiting lenders in person or you can use Internet also. You can find quotes from various lenders on Internet. You can compare between the offers of different financial institutions and banks and choose the one that suits your needs. Always give priority to lender who is ready to bear your other expenses like hostel fees, tuition fees, personal expenses etc also.


It’s easy to get a student loan if you are having good credit score. But students having bad credit score find it difficult to get a loan. Bad credit student personal loan is a big help for students having bad credit score. With the help of bad credit student personal loan you can pursue your dreams. You can apply for a secured bad credit student personal loan to avail loan at low interest rate and flexible repayment option. With growing competition in the market one can avail bad credit student personal loan at low interest rate. Online availability of lenders ensures faster transaction, less documentation and is economical with time.