3) No Ratio – we have heard of two types of no ratio: one with income and assets stated and verified, and other with no income stated or verified.

4) No Income, No Assets (NINA) – no income or asset information is stated or verified. Loan approval is based on credit score and down payment. Some lenders do require proof of employment while some do not.

5) No Income, No Employment, No Assets – this is considered a “true no doc” where no income, employment or asset information is stated or verified.

To learn more about these types of loans, visit Empire Real Estate – About Stated Income and No Doc Loans .

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Copyright©2005 Empire Real Estate Group, Inc.

· Go to counseling. Credit counseling, that is. Many credit counseling organizations will help you come up with a feasible solution for ridding yourself of debt. You can find credit counselors on Internet, and many credit unions, universities and military bases provide credit counseling programs. Also, get in touch with your bank, friends, and/or family for a recommendation.

Some of services credit counselors provide: Advice on how to manage your debt, assistance in developing a budget, and classes and workshops that are geared towards teaching consumers about money management, credit card debt, and budgeting. Counselors can also recommend a debt management plan (DMP), which allows you to make monthly deposits to specific counseling organization that you’re working with. Your counselor will then develop a payment schedule with your creditors that includes lower interest rates or waives certain fees.

For more suggestions and information on how to manage your credit card debt, please visit http://www.informedcredit.com