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Articles from Krista Scruggs | Selfgrowth.com
- Minnesota Mortgage Refinance Options – An Overview - by Submitted on Feb 04, 2011 from Krista ScruggsMinnesota is a thriving state, home to many high tech companies and modern cities. Many of the state’s 5.3 million residents own their own homes and have built up equity in their property despite the recent recession. If you’re one of these homeowners, you can take advantage of the current low ...
Views: 952 - Why Foreclosure Defense Usually Means Foreclosure Delay - by Submitted on Dec 16, 2010 from Krista ScruggsHomeowners in Florida who are behind on their mortgage payments and are facing foreclosure need to know their options. Although there have been countless news stories about banks who have engaged in “robo-signing” tactics and other dirty tricks, homeowners need to be realistic about their ...
Views: 1207 - 5 Steps To A Loan Modification On Your Own - by Submitted on Jul 02, 2010 from Krista ScruggsThere are typically five steps you will have to go through during a loan modification. There are a lot of details involved and you will have to work hard. Follow each of these steps in order. 1. Explain your situation. This is typically done through what's called a hardship letter. ...
Views: 1131(7 votes) - Loan Modification - How To Know If You're Getting A Good Deal - by Submitted on Jun 24, 2010 from Krista ScruggsMaybe you've just completed a mortgage modification, or you're in the market for one and you want to learn all you can. Either way, you're likely wondering how to tell whether a home loan modification deal is good or bad. Regardless of what stage of the process you're in, you'll want to be ...
Views: 1405(4 votes) - 4 Ways To Optimize Your Debt Consolidation Plan - by Submitted on Jun 11, 2010 from Krista ScruggsDebt consolidation can be a wonderful tool that can create great benefits for you when you are trying to settle your credit card debt. Individuals with high credit card debt or numerous debts across several cards and loans should consider debt consolidation as a way to better manage their money ...
Views: 996 - 4 Tricks To Get You Approved For A Home Loan Modification - by Submitted on Jun 11, 2010 from Krista ScruggsThe process of qualifying for a home loan modification is complex and often misunderstood. Often families or individuals who appear to be qualified don't in fact make the cut, and this can cast doubt in the minds of potential applicants who may feel they don't stand a chance of gaining any ...
Views: 1861(6 votes) - Top 3 Benefits of Debt Consolidation - by Submitted on Jun 10, 2010 from Krista ScruggsOne of the first and most beneficial aspects of debt settlement is debt consolidation, which allows you to wrap all your debts and unpaid loans into a single, low-interest loan. Individuals struggle to pay back their debts for numerous reasons, and no two people have the same history and the ...
Views: 942 - Home Loan Modification Approval - The 3 Things You Must Do - by Submitted on Jun 10, 2010 from Krista ScruggsGetting approved for a home loan modification can be a confusing process. Most homeowners won't need to pursue mortgage relief more than once or twice in their lives, and thus few individuals seeking loan modifications are familiar with the steps involved in getting approved. This is ...
Views: 1221(5 votes) - 4 Reasons To Pursue Debt Settlement Rather Than Bankruptcy - by Submitted on Jun 04, 2010 from Krista ScruggsIf you are mired in credit card debt, you have three options. The first is to completely pay off your debts by somehow obtaining a boost in your income. This is unlikely. The second is to file for bankruptcy and get relief from your debts through the legal system. This will give you a poor ...
Views: 1080 - 4 Steps To Home Loan Modification Approval - by Submitted on Jun 04, 2010 from Krista ScruggsIt may seem that applying for a loan modification is like putting money in a slot machine. Some people get lucky and end up with a newly modified loan, while others, for no apparent reason, aren’t so lucky. There are, however, things you can do to prepare yourself when seeking a loan ...
Views: 1538(6 votes) - 5 Tips For Using The Internet To Find The Lowest Mortgage Rates - by Submitted on May 28, 2010 from Krista ScruggsThe Internet is a valuable tool you can use to help you find the lowest mortgage rates in your area. Mortgage rates will be different depending on where you are and how strong your credit is, and finding the best mortgage rate can be a complex and time-consuming process. The Internet can make ...
Views: 1193(11 votes) - Top 3 Ways To Know Whether Your Home Loan Modification Company Is Legitimate - by Submitted on May 28, 2010 from Krista ScruggsLoan modification—the process of restructuring a mortgage or other loan in order to reduce the monthly repayment required of the borrower—has gained popularity in recent years due to the failure of the housing market and the spike of mortgage defaults. As the need for this service has grown, ...
Views: 1308(3 votes) - The Meaning of Mortgage Loan Modification - by Submitted on Oct 21, 2009 from Krista ScruggsThe Meaning of Mortgage Loan Modification In this day and age many can't afford to make their mortgage payment. I personally know many who are in this situation. My answer for this is loan modification. A loan mod gets helps you make your house payment and helps the bank get their money back ...
Views: 1512 - The Effect of Credit Inquiries on a Credit Rating - by Submitted on Oct 15, 2009 from Krista ScruggsThe Effect of Credit Inquiries on a Credit Rating It is a well known fact that credit inquiries can have an adverse effect on a credit rating, but not all inquiries weigh equally. Moreover, some credit inquiries actually have no impact on the credit rating at all, while others have the ...
Views: 914(1 vote) - Understanding Streamline Refinancing - by Submitted on Sep 14, 2009 from Krista ScruggsA streamline refinance option is not open to a lot of consumers. It is a privilege of those consumers who currently have an FHA insured loan. For this reason, a good many consumers initially opt to check out FHA loan products rather than one of the various other kinds of loan vehicles. Of ...
Views: 879 - The Confusion Over Credit Inquiries - by Submitted on Aug 18, 2009 from Krista ScruggsWhen you seek out new credit, you automatically give the potential creditor permission to request a copy of your credit profile. As the creditor does so, a credit inquiry is notated on your credit file. There is some confusion over credit inquiries, their effects on the overall credit rating, ...
Views: 953(1 vote) - Are You a Good Candidate for a Streamline FHA Refinance? - by Submitted on Aug 18, 2009 from Krista ScruggsIf you are in the market for a refinance, you have undoubtedly heard about the various loans that are currently offered by lenders. There are adjustable rate mortgages, those that feature balloon payments, loans which offer substantial cash-out options, and of course also the loans that change ...
Views: 1209(1 vote) - Getting Up Close and Personal with Your Credit Score - by Submitted on Aug 11, 2009 from Krista ScruggsDo you know what your credit score says about you? Undoubtedly you are quite familiar with the need for having a credit report devoid of bad notations, such as missed payments or repossessions, but how the scores are actually interpreted might not be as easily ascertainable as you thought. ...
Views: 876(2 votes) - What is a Streamline FHA Mortgage Refinance? - by Submitted on Aug 11, 2009 from Krista ScruggsStreamlining is not really a term that explains the loan product so much as it refers to the amount of paper that the borrower is required to provide to the lender. Generally speaking, the amount of paperwork that is usually demanded during the initial mortgage application is virtually cut in ...
Views: 1241(2 votes) - How Do Creditors Determine Whether to Grant You Credit? - by Submitted on Jun 29, 2009 from Krista ScruggsDo you know how the bank determines whether or not to issue you a credit card? Moreover, do you know why you get an interest rate that is slightly higher than your neighbor’s, even though you both carry the same card? You do know, of course, that institutions issuing credit cards and offering ...
Views: 2079 - Should You Work With a Debt Consolidation Agency? - by Submitted on Jun 29, 2009 from Krista ScruggsDebt consolidation agencies specialize in bundling consumer debt. The principle is simple: a consumer who owes varying amounts of money to a host of unsecured creditors can consolidate this debt with such an agency. Instead of paying seven, 10 or more monthly payments to a variety of locations, ...
Views: 1004 - Proper Mortgage Planning for Beginners - by Submitted on Jun 29, 2009 from Krista ScruggsCongratulations on your decision to buy a home! With the home, the initial mortgage is most likely a sobering occasion, especially considering just how much money you agree to pay over the next few decades. When you add the financial responsibility that comes with home ownership to the amount of ...
Views: 1092 - Evaluating Loan Products When Refinancing - by Submitted on Jun 29, 2009 from Krista ScruggsRefinancing your home loan is an important consideration, especially in the face of so many different loan products. The loan you choose for the most expensive asset and debt has the power to greatly influence your overall fiscal health – either in a good way or in a negative manner. For ...
Views: 992(3 votes) - Questions to Ask Yourself Before Refinancing Your Home - by Submitted on Jun 29, 2009 from Krista ScruggsDoes a refinance of your home loan sound like a good idea to you? If so, make sure you answer a few simple questions before you get the ball rolling. Since a refinance in many ways mimics the process you went through when applying for your initial mortgage – with the exception that now you are ...
Views: 1078(3 votes) - Home Loan Refinance Considerations - by Submitted on Jun 14, 2009 from Krista ScruggsWho is a good candidate for a home loan refinance? Obviously a consumer who is paying more in interest than the current interest rate that is being advertised. General wisdom dictates that a homeowner should consider refinancing when interest rates drop by at least two percentage points, but ...
Views: 924 - Crucial Questions to Ask When Shopping Around for a Mortgage - by Submitted on Jun 14, 2009 from Krista ScruggsShopping around for the most advantageous mortgage product is a crucial endeavor when planning on purchasing a home. There is a lot at stake, and the odds of losing out financially for the duration of the loan is huge if the loan product turns out not to be what you had anticipated. Most ...
Views: 1266 - Facts About the Fair Credit Reporting Act Every Consumer Should Know - by Submitted on Jun 14, 2009 from Krista ScruggsCredit reports have the power to preclude a consumer from obtaining a crucial home loan, buying a much needed car, or even renting an apartment. In some cases, these credit profiles may even hinder the consumer from finding employment for which s/he is perfectly qualified. Credit reports contain ...
Views: 1083 - Limitations of the Fair Credit Reporting Act Most Consumers Do Not Know About - by Submitted on Jun 14, 2009 from Krista ScruggsThe Fair Credit Reporting Act stipulates that consumers have the right to dispute any item listed in their credit profiles. To accomplish this, consumers are urged to request a copy of their credit profile at least once a year. This is usually free of charge. When a consumer is denied credit, ...
Views: 989 - How Does the Statute of Limitations Affect Your Credit Repair? - by Submitted on Jun 14, 2009 from Krista ScruggsA statute of limitations defines a set frame of time during which legal action may be taken. With very few exceptions, all debts have legally defined statutes of limitations. These are usually state rules, and for an unsecured debt a statute of limitations may run from three to six years. After ...
Views: 1187 - Credit Repair Consultants Warn About Statute of Limitations Issues - by Submitted on Jun 05, 2009 from Krista ScruggsCredit repair is the consumer’s answer to a blemished credit record. Years of neglect can easily turn a credit report into a liability that forces the consumer to pay higher interest rates or even be denied credit altogether. There are a number of reasons why this happens. Missed payments, ...
Views: 1132 - Prequalifying for a Mortgage - by Submitted on Jun 05, 2009 from Krista ScruggsPrior to obtaining a mortgage, consumers generally seek to prequalify. This is the process of having a lender look at the consumer’s credit profile, debt to income ratio, and from there make an educated guess about how much money the lender is willing to give to the consumer as a mortgage loan. ...
Views: 1214 - Understanding the Statute of Limitations and Consumer Debt - by Submitted on May 28, 2009 from Krista ScruggsThe typical American consumer carries a fair burden of secured as well as unsecured consumer debt. These accounts usually refer to credit cards, personal loan, store credit accounts, and also car loans as well as home loans. It is not surprising that the recent economic downturn has seen an ...
Views: 1244 - Why Prequalify for a Mortgage Loan? - by Submitted on May 28, 2009 from Krista ScruggsIn the past it was easy to apply for and receive a mortgage loan. Lenders were open to entertaining loan applications that showed no verifiable income and that could have been rather risky investments. As the loan market tightened significantly over the last few years, prequalifying for a ...
Views: 1332 - Is it Time to Settle Your Credit Card Debt? - by Submitted on May 28, 2009 from Krista ScruggsCredit card debt – unlike any other kind of consumer debt – is hard to eliminate, even with conscientious monthly payments. Over time, the compounding interest and minimum monthly payments shackle the consumer to an ever increasing debt. In these uncertain economic times, there is also the ...
Views: 793 - Important Facts on Mortgage Prequalification - by Submitted on May 28, 2009 from Krista ScruggsObtaining a mortgage prequalification is the single most important step to ensuring that you are seen as a serious contender for a piece of real property. Moreover, it provides you, the consumer, with the amount of money that a bank is willing to lend for the sake of obtaining a home. Going ...
Views: 1190 - How to Find Debt Relief - by Submitted on May 18, 2009 from Krista ScruggsAre you in need of debt relief? As a matter of fact, if you carry any kind of unsecured consumer credit debt, the odds are good that a bit of debt relief would be welcome right about now. Of course, not all avenues leading to debt relief are appropriate for and every debtor, and knowing how to ...
Views: 829 - Have Mortgage Delinquencies Hit Rock Bottom? - by Submitted on May 18, 2009 from Krista ScruggsIt is baffling just how many homeowners are going belly-up in their loans, especially considering that there are copious mechanisms in place to save those who are facing foreclosure or even see themselves nearing the road to foreclosure. The foregoing not withstanding, there is a school of ...
Views: 945 - Understanding Debt Settlement and Debt Elimination - by Submitted on May 14, 2009 from Krista ScruggsImagine getting rid of a mountain of debt, and doing so legally! Debt elimination is one of the primary goals of Americans who are heavily hit by a faltering economy and waning home prices as well as shrinking nest eggs and college funds. The vast majority of everyday consumers carry in excess ...
Views: 902 - First Time Homebuyers Profit from the Falling Market - by Submitted on May 14, 2009 from Krista ScruggsHas the housing market bottomed out? Is it possible that home prices are going to continue falling? Will mortgage rates continue to go down? Will they go up? Aspiring homeowners most likely wonder what the market future holds and whether or not they should buy now or wait a month or longer. It ...
Views: 1085(17 votes) - Will Home Equity Make a Comeback? - by Submitted on May 12, 2009 from Krista ScruggsWhether it was the artificial inflation of home values or the sudden drop in the market, home prices fell so severely that years of built up equity virtually disappeared overnight. What used to be considered a failsafe investment, for many homeowners has now become a huge albatross around their ...
Views: 1127 - Advantages of Hiring Debt Negotiators - by Submitted on May 05, 2009 from Krista ScruggsDo you have a lot of consumer debt? Maybe you are having a hard time hanging on to your home, or you find that paying your monthly car payment is becoming ever more challenging. Then again, you probably also have a lot of credit card debt that – although not secured by any assets – eats up a ...
Views: 1114 - Coralling Home Appraisal Fraud - by Submitted on May 05, 2009 from Krista ScruggsWho has not had that moment of nail biting when trying to refinance a property with cash out option, hoping that the appraisal will come in high enough to persuade the bank to part with the much needed equity? Have you ever wondered how it is that the appraisal came in just exactly what you ...
Views: 1049 - Can a Bankruptcy Law Adjustment Stop the Mortgage Meltdown? - by Submitted on Apr 28, 2009 from Krista ScruggsWith the number of home foreclosures spiraling out of control, Congress is desperate for a means to stop the hemorrhaging of the losses banks and investors undergo. At the same time, the taxpayer underwritten cash infusions are doing precious little to counteract the financial disaster and while ...
Views: 1137 - Fast Track to Getting Out of Credit Card Debt Revealed - by Submitted on Apr 22, 2009 from Krista ScruggsCountless American households are staggering under virtually unmanageable amounts of credit card debt. In spite of their best intentions, consumers have fallen behind and are now facing the consequences of compounding credit card interest that makes it virtually impossible to pay down the debts ...
Views: 929 - Is Affordable Homeownership Going By the Wayside? - by Submitted on Apr 22, 2009 from Krista ScruggsIt is an open secret that the current mortgage meltdown finds its roots in the creation of subprime mortgages that were marketed heavily to those who would not ordinarily qualify for a home loan. This has sent minorities and the fiscally somewhat unstable in droves to eager loan brokers who ...
Views: 879 - Getting Help with Staggering Credit Card Debt - by Submitted on Apr 15, 2009 from Krista ScruggsWhen you first received your shiny unsigned cards, you had the best of intentions with respect to responsible use of your credit. You were going to pay off the cards every time you used them, you were not going to live beyond your means, and you most certainly did not intend to add more and more ...
Views: 846 - Have You Heard About the Mortgage Holiday Proposal? - by Submitted on Apr 15, 2009 from Krista ScruggsImagine the impact a year long mortgage holiday could have on the American economy. 12 long months without the need to make even one mortgage payment; the money consumers could keep in their pockets could be used for much needed purchases and also bill payments to help consumers get back on ...
Views: 1545(2 votes) - Examining the Drawbacks of Bankruptcy - by Submitted on Apr 14, 2009 from Krista ScruggsIn the past, consumers with too much unsecured loan debt – usually credit card debt – relied on bankruptcy to shed this indebtedness virtually overnight. The federal bankruptcy court would liquidate all of their assets, which were usually quite negligible, and also absolve their outstanding loan ...
Views: 1270 - Mortgage Driven Bankruptcy Filings Against the Backdrop of an Amended Bankruptcy Code - by Submitted on Apr 14, 2009 from Krista ScruggsBankruptcy used to be the stigma laden option for consumers who were simply too deep in debt to find a way out. In the past Chapter 7 filings could lighten the debt load for filers by simply doing away with credit card bills and other unsecured loans. In some cases, homeowners could even keep ...
Views: 1083(1 vote) - How to Greatly Reduce Your Credit Card Debt - by Submitted on Apr 09, 2009 from Krista ScruggsThere is virtually no American consumer who does not carry some credit card debt. Statistics reveal that the typical household in the United States carries somewhere in the neighborhood of $10,000 of this form of indebtedness. The lure of the credit card is easy to understand: emergency ...
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