Credit Score For Dummies

If you are managing your debt with credit counseling or a debt management plan, will that count against you in the mortgage qualifying process?

Credit counseling vs. debt management programs

Credit counseling alone — that is, getting advice on budgeting and creating a plan for debt repayment — can only have a good effect on your credit. The fact that you are being advised doesn’t show up on your credit history, and reducing your credit card balances and paying on time improves your score.

However, some debt help firms put their clients in debt management plans (DMPs). DMPs work like this: You send the company a check each month, and they distribute the payment to all of your credit card companies.

Read more…

No Comments yet »

- Sears Holdings Corp. was dealt another blow Thursday when word spread that CIT Group Inc., a key lender in the retail industry, would no longer provide loans to suppliers shipping goods to Sears and Kmart. The news sent Sears shares tumbling as much as 6 percent Thursday before the stock recovered to close up 3.3 percent, at $34. Sears stock had been as high as $80 in October at the start of the critical holiday shopping season, when the company traditionally generates 30 percent of its annual revenue.

The volatile swing in Sears stock price Thursday signals how uneasy investors are about whether the retailer will survive its latest financial trouble.

Read more…

No Comments yet »

What is a Living Will and should I have one? Few of us will ever forget the emotionally charged battle over the life of Terry Schiavo as she lay comatose and withering away, while family members, the medical community, politicians, and the media made their case for her fate. It divided a family and a nation. While that particular case drew worldwide attention, thousands of similar cases play out in hospitals and hospices each year, and the emotional toll is no less devastating for the families who must make the most difficult decision of their lives.

Who would ever want to put their family through that?

Read more…

No Comments yet »

JPMorgan Chase boss Jamie Dimon needs some serious home improvement.

Dimons bank, one of the nations biggest mortgage lenders, is also the worst at helping homeowners through a government program aimed at preventing foreclosures, according to a report released yesterday by the Treasury Department.

JPMorgan was the only bank singled out as needing substantial improvement for its poor performance under the Home Affordable Modification Program.

We are disappointed with our rating, and will continue to work hard to improve our processes and controls, JPMorgan said.

Treasurys poor review came as the outspoken bank boss continued to rail against Wall Street regulation and the vilification of the rich, highlighted by the Occupy Wall Street movement.

Acting like everyone whos been successful is bad and that everyone who is rich is bad I just dont get it, he said in a speech at a Goldman Sachs conference.

Originally published by MARK DeCAMBRE.

2011 The New York Post.

Read more…

No Comments yet »

Student loan debt has skyrocketed in the last decade growing at a rate of nearly 50% per year. Many graduates find themselves crushed under the weight of their college loans before they have had a chance to go out and earn the income needed to repay it. While future college students need to seriously consider the pros and cons of going into debt in order to obtain a degree, those who have graduated over the last ten years with loans ,may have been given a few more options under President Obama’s recent executive order to restructure the student loan repayment process. H

Read more…

No Comments yet »

- We at LoanSafe strive to make sure homeowners know about every foreclosure assistance event that is free all across the country.

Read more…

No Comments yet »