Sometimes, you simply can’t pay your bills. Call American Debt Counseling for help sorting out your budget. This team of accounting and finance professionals works with banks on your behalf, creating a workable budget that leaves you money. They stop foreclosure, phone calls and collectors, helping you dig yourself out of debt. Call for help today! Visit us www.yellowpages.com

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Sometimes, you simply can’t pay your bills. Call American Debt Counseling for help sorting out your budget. This team of accounting and finance professionals works with banks on your behalf, creating a workable budget that leaves you money. They stop foreclosure, phone calls and collectors, helping you dig yourself out of debt. Call for help today! Visit us www.yellowpages.com

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If you have an adverse credit history, with mortgage arrears, County Court Judgements, etc, DO NOT WORRY, we may still be able to help as we have a specialist department and excellent lenders to deal sympathetically with these types of applications. All applications are handled quickly and easily with no up-front fees.

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Mortgage Refinance for Debt consolidation. April Dunn – Kelowna Mortgage Broker – Mortgage Alliance Homeline Mortgage
#14 – 1470 Harvey Ave., Kelowna, BC V1Y 9K8
250-826-3543
www.aprildunn.com

Duration : 0:4:2

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Watch the full version here: http://www.youtube.com/watch?v=bx_LWm6_6tA

The Short and Simple Story of the Credit Crisis.

By Jonathan Jarvis.

Crisisofcredit.com

JonathanJarvis.com

Duration : 0:7:32

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http://realestatemarketingthisweek.com – Foreclosure rates on Forbearance Agreements done with banks reaches 58% –

Part 3 – In studio with us today on this fine New years eve is Dan Havey, the co founder of the modification hotline as well as the author of The Foreclosure Sharks a great white paper he put together. He is also the author of Real Estates Future and this segment we are talking about loan modifications and some specific information.

You also have a great story to tell about this to. Well unfortunately I have too many stories about people who have had to go through foreclosures, bankruptcies, loan modifications. The one story I want to talk about real quick is a friend of mine who unbeknownst to me went out and did a loan modification on her own and not to get into a whole bunch of technical details on it she ended up getting a pretty decent interest rate because they actually cut her mortgage payment in half and she was pretty happy about that.

She owed a little bit more than the house was worth, she wasnt terribly upside down, but by the time they got done with her she certainly was going to be because the modification, and actually I should not call it a modification, I should call it a forbearance agreement, what they did to her was to say, OK we will cut your interest rate in half, we will cut your monthly payment in half, but we will take all of that deferred interest and tack it onto the back end of the loan. So that by the time her interest rate went back to where it had been, it was going to adjust up over the next five years, so that within that five year time period she was actually going to owe $60,000 in back interest on top of the principal balance that she had before she went to go talk to her bank.

What kind of a deal is that? I didnt think it was a very good one and she ended up eventually not taking it and just recently let the house go back to the bank, because she just looked at it and said, Wait a second here, I am already $20,000 upside down, by the time Im done with you guys I will be $80,000 upside down and so great I get a cheaper payment for a while. She moved into a rental property that was even cheaper then what she would have had to pay to stay in the house and from what she tells me the house is nicer.

Some of the unfortunate scenarios that come up that we get to see. Unfortunately we talk to lots of people that have similar situations, trying to do these on their own and it is possible to do a loan modification on your own. We know that, the program is designed for you to do that. The problem is it generally does not work out.

The re-default rate on loan modifications done on your own is significantly higher than loan modifications facilitated by an attorney that is representing you, for a number of reasons. Number one you have to pay an attorney to represent you. The other is that I think you are going to get a better modification based its not just a negotiation between you and the loss mitigation department for the bank. We are talking about using a professional attorney who is a trained negotiator to negotiate on your behalf with another attorney. By the way, theyre not talking to the same loss mitigation people in India that you may be talking too.

Here are some numbers that just came out from John Dugan who is the Office of the Comptroller of the Currency and they did a study of the loan modifications that have been done to date. In many cases these were forbearance agreements, not loan modifications. If an individual talks to his bank, generally speaking he will not get the same as result as what an attorney would do, so most of these are really forbearance agreements. And in that case, 36% had defaulted or were 30 days past due after 6 months and 58% were in default after 8 months. Again that is 58% in default after eight months and I saw some numbers the other day and unfortunately I didnt bring them in with me today, that according to some study of the very few modifications that have been done using an attorney, I say very few, but it is still thousands or tens of thousands, but few compared to what is getting done directly with the bank, the number is only like 5% of the ones done with an attorney have re-defaulted and again I dont have the numbers with me so I cant site the source…

Duration : 0:5:47

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Money Merge Account (MMA) Accelerated Mortgage Program. Pay Off your Mortgage in as little as 8 to 11 years or less just by doing what you are currently doing, and without any change to your current lifestyle or current cash flow.

Duration : 0:3:38

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If you worry about finances and debt you are not alone. Why has debt become such a widespread problem? What are real solutions?

http://www.beyondtoday.tv/programs/archive/?Title=The-Debt-Trap-&ProgramID=bt028

Duration : 0:28:30

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Several Financial Framework Seminar Class Members share their thoughts about the series

Duration : 0:10:25

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http://solutionsfinancialllc.com/debt-management-back-end/ This is the result of taking a 25-slide powerpoint presentation filled with text and only 4 graphics, and turning it into a more dynamic video presentation that is more likely to be watched in its entirety than a longer, version that simply copies what you can read on the site anyway. http://solutionsfinancialllc.com/PartnerSpecial

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Duration : 0:4:53

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