Author Archives: Ken Melblock

Taking out a home equity loan is one of the time-tested ways to get out of debt. There are two general kinds of home equity loan available to borrowers with bad credit history – depending on your specific financial situation; you can either take a 2nd mortgage, or a home equity line of credit (HELOC). You need to know how each works in order to decide which one to apply for. Continue reading →

Interest rates on mortgage loans are extremely low right now. As a result, refinancing your mortgage is a popular thing to do these days. With rates where they are, it makes financial sense to do in many cases. Here are some helpful hints to look at to decide if refinancing your mortgage is the right thing for you. Continue reading →

Florida mortgage help can help you avoid foreclosures. If you are also one of the thousands whose servicing of the loan has been sold to another person or body whose office may or may not be located in Florida, worry no more. It is possible that it may have been sold to another mortgage lender. Worse still, the mortgage lender might now be owned by a large bank (not located in the state) or which is no longer in the business. Start Afresh- If you are also planning to start afresh then Florida mortgage assistance is for you. It will help you stop or avoid foreclosure. You can take a special foreclosure loan and combine your debts into a single payment. Continue reading →

As the government reviews options on the best ways to continue to help struggling homeowners there is rumor of the Obama making home affordable program and other federal housing assistance programs that may be going \"bye, bye\". As Republicans argue that the federal housing program especially the Home Affordable program should be considered to come to an end because of the failure of the program. As many of us have read in the past few months how the projections of the millions of homeowners this program was suppose to help and in reality it has only helped not even half of what it was projected. As the chairman of the House Financial Services Committee, Representative Spencer Bachus – Republican of Alabama has stated \"failed and ineffective housing foreclosure programs\" marks the possibility of four foreclosure programs that may end. Continue reading →

On March 4, 2009 the $75 billion Homeowner Affordability and Stability Plan will be passed into law by President Barack Obama. The White House has just released who will qualify and how to go about receiving a Loan modification plan
through the new plan. This 4 step guide shows you what you need to do for your family to benefit! Step 1: Determine if you are Eligible for your share of the $75 billion Bailout? 1. Do you live in the home? 2. Is your current loan amount within the Fannie Mae conforming limits ($625,500 in high cost areas and for other areas it is $417,000). 3. Are your current house payments more than 31% of your gross income?(Loan modification kits can help with all financial calculation your lender may want to see). 4. Are you must be able to prove you have current income?. 5. Do you currently have a job? Continue reading →

The nation is facing a lot of hardship with the economy right now. Because of this, the Obama administration has implemented a countrywide Federal Mortgage Loan Modification plan. For consumers who are being threatened with the foreclosure of their homes, this plan would be an excellent way to secure a new mortgage rate and a new interest rate. These new rates are designed to keep people in their homes and lower their monthly payments. However, there are stipulations that you must pass before you can qualify for this program. Continue reading →