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Banking/Finance

Permanent Modifications From J.P. Morgan Chase Increase–Latest Information From HAMP Shows Improvements

Permanent home loan modifications with J.P. Morgan Chase increased between August and September and, for homeowners who are currently in the process of pursuing modification assistance, this could be positive news as it does show this particular servicer, among others is still seeing improvements in the area of permanent home loan modifications that are currently active.

Underwater Mortgage Refinancing Options From HARP–Why Some Homeowners May Not Benefit

Recent changes to the Home Affordable Refinance Program are hoped to bring benefits to the homeowners who have been struggling with negative equity over the past months or even years, but there are some aspects of this plan, which are predicted to help less than 1 million homeowners, but may still prevent some from taking advantage of this particular refinancing opportunity and, as a result, questions have arisen as to why some homeowners may not benefit and how changes that are in place are truly helping homeowners that are in need.

Balance Transfer Credit Card Rates May Be Higher For Some Cardholders–Costs Become More Of An Issue

Balance transfer credit card rates have remained somewhat unchanged over the past weeks but, depending on the average rate that a cardholder researches, but there have been some slight increases in overall averages as some cards may range anywhere between 12% to 16% or higher, yet as cardholders are not always in a position to qualify for these optimal rates, costs in the long term have become more of a factor for those who hope to use balance transfer cards as a way to consolidate debt.

Using 401(k) Loans When Refinancing–Homeowners Apply Cash Towards Mortgage Principal But Drawbacks May Arise

Over the past months we have seen some workers borrow money from their 401(k), in the form of a 401(k) loan, for various purposes and, in some instances there have been homeowners who have used funds from their retirement as a way to apply money towards their mortgage principal at the time of refinancing as a way to apply cash to their principal balance, which may allow them to reduce their costs even further and potentially put them on a faster track to mortgage debt relief.

Citigroup Sees Some Positive Numbers In Foreclosures For Homeowner Seeking Federal Aid On Mortgage Payments

Citigroup homeowners who were pursuing a federal home loan modification, in some situations, have fallen into foreclosure but according to the most recent Treasury Department reports that were released here in November more positive data has been seen.

Repayment Plans For Debt Relief Offer Alternatives To Personal Consolidation Loans For Certain Consumers

Consumers who are struggling with debt at the present time are in a position where they are looking for repayment plans or various ways that may be specifically helpful for their financial position as it goes without saying that some consumers may face different obstacles when it comes to getting out of debt but of course some of these individuals often use similar techniques such as personal consolidation loans, as there are those who feel that this particular type a debt repayment plan can be more affordable on a monthly basis.

GMAC Mortgage Delinquencies Decrease In HAMP As Homeowners Continue To Move Through Assistance Plans

Homeowners with GMAC Mortgage who are behind on their payment decreased in data released from the Treasury Department indicating that homeowners who are delinquent and may qualify for HAMP assistance may be in a position where these mortgage payment plans that have reduced homeowner payment obligations could be helping more individuals, despite the fact that there have been calls for change.

Home Affordable Alternatives Program For Wells Fargo Sees Increases For Financially Troubled Homeowners

Wells Fargo homeowners who may be in a situation where financial distress is present and negative equity happens to be a problem have, in the past, turned to short sale and deed in lieu of foreclosure plans as a way to help them transition from their home when these problems are in place, and recently within the Home Affordable Foreclosure Alternatives program, Wells Fargo saw an increase in the agreements that were started and completed between August and September of 2011.

After Getting A Free Credit Report Some Struggle To Overcome Old Debts In Bad Credit Repair Process

Many consumers often begin the process of improving their bad credit score through acquiring a free credit report as many men and women often take advantage of an annual credit report available to them, specifically for the purposes of reviewing one’s financial history, credit standing, and where areas of debt may still need to be addressed.

Bank of America Foreclosures In Federal Modification Program Increase–Homeowners Seek Alternative Foreclosure Prevention

Bank of America foreclosure prevention assistance has come quite often through the federal modification program but homeowners who have either been denied modification assistance or had their trial modification canceled by Bank of America saw increases in the number of foreclosure starts and completions between July and August of 2011.

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by Dr. Radut.