We began immediately researching ways to help this client and found a lender willing to work with him and save his home just in nick of time. His mortgage payment stayed about same and he was able to pay off more than $25,000 in other debts, which alleviated several hundred dollars in credit card payments every month.

More importantly, this man's house was saved and his family was in a much stronger financial position.

“A bank is a place that will lend you money, if you can prove that you don’t need it,” Bob Hope once quipped. But when you are going through a bad financial spell, you need an institution that will stand by you.

Banks tend to make loans that are risk-free to them. It is hard to imagine that any bank would have helped him in this situation. But as a nationwide mortgage banker we have ongoing relationships with lenders that specialise in different types of loans. This knowledge allowed us to help a client save a family home from certain foreclosure.

Although we have ability to help in extreme situations such as this, we highly recommend that homeowners take action long before desperation sets in.

For more information please go to: http://www.goldmedalmortgage5.com/california/10/California-Debt-Consolidation-Home-Mortgage-Loan.html

For immediate assistance to stop foreclosure please call toll free 1 888 300 2040

-Extended Repayment Plan

-Income - COntingent Repayment Plan (in which monthly payment amount is set according to borrower's income, family size, and loan debt)

Timing of consolidation

Borrowers can consolidate while they are still in school.

In other ways, two loan programs are similar:

-They both have options to allow borrowers who have defaulted on their loans to consolidate those loans.

-In general, neither of them charges prepayment penalties or origination fees, nor are credit checks or co-signers required. However, some private lenders may charge processing fees.

-The base interest rate on your consolidation loan is same regardless of lender. However, private lenders may offer additional incentives such as a reduced rate if you make your payment on time and if you have your payment automatically debited from your bank account.

Keep in mind that if all of your loans are through one lender, that lender has first option to consolidate loans. Only if that lender declines can you go elsewhere.

This article is distributed by NextStudent. At NextStudent, we believe that getting an education is best investment you can make, and we're dedicated to helping you pursue your education dreams by making college funding as easy as possible. We invite you to learn more about Private Consolidation Loans or Federal Consolidation Loans at http://www.NextStudent.com .