The details for the Homeowner Affordability and Stability Plan were released yesterday. The new title of the program is “Making Home Affordable.” There are two components for home owners, refinancing and loan modifications. Participation is voluntary and the lender has to choose to participate. Details of both plans are below. Home Affordable Refinance Borrowers who [...]
Finding creative and inspirational ways to help you repay your debt can keep you motivated and moving the the right direction. One of the sad things I found when helping my brother-in-law get out of debt, was that he couldn’t even remember where he spent most of the money. Without knowing where the money went, [...]
Five years have passed since I helped my brother-in-law on the path to get out of debt. He’s learned to only spend what his paycheck brings in and is considering buying a house. Because his credit report was trashed from late payments, collections, and settlements, he wanted me to check into the statute of limitations [...]
I recently got an email from a reader, Brenda. She’s worried about her family members who found themselves under a mountain of credit card debt. Originally they were able to keep them current and had good credit ratings. Unfortunately, when the husband lost his job last summer, they fell behind on the credit cards and [...]
I recently asked readers how to help my friend payoff his debt. I highlighted some of the responses in 7 Ways to Payoff Credit Card Debt. Here’s the situation that he is dealing with (see the story for all the details): Personal Line: $3,500 balance @ 15% – $7,000 limit Credit Card #1: $2,300 balance [...]
