Did you know that there will be over 2 MILLION home forclosures this year?

You’ve probably heard that getting a loan modification can a be time-consuming and exhausting process. Even though the Obama administration’s “Making Home Affordable” program is designed to help homeowners keep their homes, a recent CNN investigation revealed the shocking truth: rather than helping people, banks are giving homeowners the runaround.

• Eligible applicants are being denied assistance.
• Homeowners are being pressured into loans they can’t afford.
• Homes are being placed in foreclosure while their owners are being considered for a modified loan.
• Lenders are making people waive their legal rights — even though the program prohibits it.
• Banks are mistakenly telling homeowners that they need to be in default on their mortgage to qualify for the program.

 It never hurts to have a back-up plan. If you are behind on your mortgage, loan modification may be the answer you are looking for, but how do you effectively advance through the system without getting caught in one of these common pitfalls?

You need an advocate on your side… someone who knows the complex practices of the financial industry and can cut through the red tape to get you the help you need.

These Loan Modification Specialists can work for you to negotiate with your mortgage lender. They will review your specific situation and present you with several proposals so you can decide what will work best for you. And they will also help you to audit your loan, refinance your current mortgage, or set up a short sale if a loan modification is not the right option for you to take.

So, if you are having trouble staying current on your mortgage, or are concerned about your financial future, don’t become a statistic! You have options — act now!

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Have you charged too much on your credit cards and are now struggling to find a way to meet all the payments each month? You are not alone. Thousands of Americans are in the same situation.

Whatever you do, don’t give up and think you’ve gotten in too deep with your financial problems. There are some great ways to help you reduce credit card debt and get you back on track.

Credit Card Debt Consolidation

There are banks that are willing to roll your credit card balances over to a debt consolidation personal loan. For some people, this is a great approach. Not only will it eliminate all those credit card debts and the high interest charges that go with them, but you will only have to worry about one repayment each month.

Because your new personal loan will have a lower interest rate than your credit cards had, you will be saving money on interest and your monthly payments will also be much lower.

Reduce Your Spending

Take a look at your current spending habits and see what you can cut back on — then put this money toward reducing your credit card debt. Even tiny amounts out of your regular spending can save you thousands of dollars in interest payments, so never think any amount is too small. They all add up!

Unwanted Items

Spring clean your house or garage and see what you might be able to sell on eBay or in a yard sale. You’ll be surprised at what people are willing to buy. You might not make much money, but even a couple hundred dollars is better used paying off your debts than sitting unused in your closet or garage.

Downsize

When financial times are good people tend to buy more expensive items than they really need. Consider trading that expensive car sitting in your driveway for something more economical. A smaller car could mean lower loan payments, which makes your budget a little easier each month.

Debt Settlement

If you’re already in over your head and the banks aren’t willing to help help you consolidate your credit card debt, you could consider debt settlement or debt negotiation.

A professional debt settlement company might be able to help you to negotiate your outstanding debts and try to work out payment options with your current bank or lender. They may also be able to negotiate for lower interest charges on your behalf.

Always check that the company you deal with is registered with the BBB.

Reducing credit card debt is often something people avoid thinking about, believing its too hard or too difficult. You really can speed up your credit card debt reduction plan by facing the truth and beginning your plan today.

With just a little discipline and some focus you really can start to wipe out your credit card debt by using even small tips like these.

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1. Know Your Current Credit Score
   If you don’t know your exact starting point, you won’t know how much you need to increase your score, and you will find it difficult to track any progress you make. Order a copy of your credit report from one of the three major credit bureaus and find out your exact starting score. You may possibly discover that your score is higher than you thought!
2. Repair Credit Errors
   Did you know that you can legally dispute any incorrect items listed on your credit report — and you’re allowed to dispute these yourself? It is not necessary to pay expensive fees for credit repair companies to remove these for you. Do a web search ”credit repair letter templates” and then write to the credit bureaus yourself.
3. Negotiate
   If you are already behind on any loan payments or bills, then don’t be afraid to call your lender or credit card company. Ask them if you can negotiate for extended payment dates and discuss ways to reduce your payment costs by either taking advantage of lower interest options or refinancing and consolidating to make it easier to meet your obligations.
4. No More Credit
   If you’re trying to improve your credit score then don’t apply for any more credit and don’t keep using the credit cards you already have. If you can show a positive reduction on your existing balances — even if it’s only a few dollars a week — then your score will gradually increase as your total debt-to-credit ratio will begin to improve. No more credit!
5. Pay Off Outstanding Debts
   You’ll be surprised how willing most credit companies and banks can be when you call and discuss positive options. They do understand that everyone has moments where we all fall behind and they will be happy that you’re trying to catch up.
6. Arrange Payment Plans
   There is absolutely no point in offering to pay off your past debts at $1,000 a week if you know you can’t maintain those payments. Make sure you arrange for realistic payment plans that fit into your budget and will be manageable to keep up with.
7. Create New Spending Habits
   If you’re looking for ways to repair bad credit then obviously continuing your spending habits from the past are only going to get you into deeper financial trouble. Learn to allocate the money you receive from your pay check each week. Prioritize your repayments and your bills and make sure that you’re keeping up with the important things. The longer you keep up a great repayment history, the higher your credit score will be increased over time.
8. Professional Assistance
   If you’ve reached the point where your credit is already too bad to consider these simple credit repair tactics, then it may be time to seek professional help. Professional credit counselors and debt management companies can help you to work around your existing issues and get you back on track. Never be ashamed to ask for help. Listen to what advice the professionals can offer and make sure you act on that advice.

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