The Obama administration has promised debt help for consumers in at least two important areas:
1. Mortgage debt
2. Credit card debt
They have moved forward in both areas in the last couple of weeks.
Posted under debt consolidation, fix bad credit, fix bad debt
This post was written by fixbadcredit on May 15, 2009
When you fall behind in your monthly mortgage house payments, the seller or lender may try to take the house back. This is what is called foreclosure. Whenever your house is foreclosed, you may lose not only your house, but also all of the money that you have invested. A foreclosure (also called “deficiency judgment”) can seriously affect your ability to qualify for credit in the future. You should avoid this, if at all possible.
Posted under foreclosure, mortgage debt
This post was written by fixbadcredit on October 16, 2008
Homes are losing value and you and your family are under financial stress, so the last thing you need is the government to hit you with higher taxes. The Mortgage Forgiveness Debt Relief Act protects you, as a homeowner, from having to pay taxes on cancelled mortgage debt.
Posted under fix bad debt, mortgage debt
This post was written by fixbadcredit on September 29, 2008
