Fix Your Debt, Credit and Finance Problems Helping you fix your credit and debt problems

The Wall Street Journal editors are joyous.  The Senate (as of the last day in April 2009) has killed the revision to the bankruptcy law that would have allowed judges to “cram down” the principle on residential home mortgages (they can already do it for second homes and investment property).  This was the stick in the Obama administration’s “carrot and stick” approach to foreclosure prevention.

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Posted under debt consolidation, fix bad credit, fix bad debt, foreclosure

Do you have trouble keeping up with your mortgage payments? Did you receive a notice from your lender asking you to contact them?

* Do not ignore the letters from your lender
* Contact your lender immediately
* Contact a Housing Counseling Agency

If you are unable to make your mortgage payment:

1. Don’t ignore the problem

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Posted under foreclosure, mortgage debt

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Posted under fix bad credit, foreclosure, mortgage debt

FHASecure is a refinancing option that gives homeowners with non-FHA adjustable rate mortgages (ARMs), current or delinquent and regardless of reset status, the ability to refinance into a FHA-insured mortgage.  With FHASecure, the lender will not automatically disqualify you because you are delinquent on your loan, and the lender may offer you a second mortgage to make up the difference between the value of your property and what you owe.

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Posted under fix bad debt, foreclosure, mortgage debt