Preventing Foreclosure Proceedings and understanding your options

Written by Mark Lambie


Every year over 8 million homeowners are seeking help preventing foreclosure proceedings. This is a stunning 30 year high. Experts project that by 2006, 12 million homeowners will be teetering onrepparttar brink of foreclosure. Many homeowners are not aware thatrepparttar 112029 can prevent foreclosure and save their house. Did you know that you can’t stoprepparttar 112030 proceedings up to an hour beforerepparttar 112031 auction takes place?

As a homeowner facing foreclosure there are various options available. We will briefly examine some ofrepparttar 112032 most popular options.

Reinstaterepparttar 112033 loan – Ideally you would like to be able to payrepparttar 112034 loan payments that you are behind on and bringrepparttar 112035 loan current. These costs would include whatever owed onrepparttar 112036 missed payments, and any additional late charges or attorney fees. This isrepparttar 112037 most efficient way when preventing foreclosure proceedings.

Get forbearance – When a lender forecloses on a property it is expensive for them. They would rather work out some sort of arrangement than proceed withrepparttar 112038 foreclosure. Talk to your lender and see if they are willing to work out a plan that outlines a way to get current on your mortgage. This agreement will vary depending onrepparttar 112039 situation andrepparttar 112040 lender. Some things they may be able to help with are a temporary reduction or suspension of your payments. If you have a FHA VA or other government loans you may qualify for even more options.

File for Bankruptcy - Some attorneys may advise a homeowner to file for bankruptcy. This is a legal way to avoidrepparttar 112041 foreclosure process. Howeverrepparttar 112042 process may still continue and you will be stuck with bad credit for 7 years. You should consult your attorney aboutrepparttar 112043 option of bankruptcy.

Private Student Loans – dispelling the myths

Written by Vanessa McHooley


Private Student Loans – dispellingrepparttar myths If savings, grants, scholarships, and federal loans don’t coverrepparttar 112028 cost of your education, it’s time to turn to private loans. But young college students can’t qualify for a private loan, can they? Wrong! This article addresses this and other myths about student loans that you may run into.

I don’t have any collateral, so I can’t get a private loan. Private loans are usually unsecured, which means no collateral is required. Onrepparttar 112029 downside, this may also mean a higher interest rate.

I don’t have a good credit history (or no credit history at all) Sincerepparttar 112030 government doesn’t back private loans, your credit history is a consideration in being approved for a loan. If your credit history is bad or non-existent, you may be subject to a higher interest rate. And remember, you can always get a co-signer. Pay your loan off on time, and soon you will have a good credit history!

I have enough funds for tuition and fees, so I can’t get a private loan In addition to paying tuition and fees, funds from private loans can be used to cover living expenses, supplies, computers, and other everyday living needs.

I can’t afford to make payments on a loan while I am still in school For most loans, your principal and interest payments can be deferred while you are enrolled in school. Another option is to make interest payments while you are in school but defer paying offrepparttar 112031 principal. Your interest payments might even be tax-deductible!

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