The process of settling car payment debts is fairly straightforward in theory, but can actually be quite complex in practice. The idea is that when borrowers fall behind on their car loan, the lender may be concerned that the borrower will stop paying the loan altogether. In such...
Mortgage debt settlement has become an increasingly popular concept, with rising foreclosures and government bailout programs designed to help struggling homeowners. Mortgage debt settlement can take one of two forms: you can restructure or modify your mortgage with your lender, adjusting the principle
When an individual or entity is delinquent on a debt, their creditor may determine that filing for a property lien is the safest way to ensure that they will be able to recover the money that the debtor owes. Filing for a property lien gives the creditor a legal claim...
Mortgage debt settlement is often easier with a second mortgage (or HELOC) than a first mortgage. That’s because the second mortgage holder usually has less leverage and less protection than the first mortgage holder. That gives the holder of the secondary mortgage more of an incentive to settle. What
How to get settlements for default student loans starts before people contact their lenders. When people default on their student loans, they are at risk for wage garnishments, income tax refund offsets or not receiving Social Security benefits.
Because of the millions of foreclosures homeowners faced during the recession, the federal government and the mortgage companies developed a variety of options for restructuring home loans to make them more affordable. When people fall behind in their mortgage payments, it is often very difficult to
When used by a contractor, a mechanics lien acts to ensure that the contractor gets paid for the services and materials provided for a construction job. A mechanics lien arises for contractors at the point where the contractor buys materials and starts making improvements...
Mortgage debt settlement is possible although it is more difficult than settling unsecured debt like credit cards. While lenders are still reluctant to reduce principal, the government has put more pressure on lenders to find ways to help borrowers who are underwater and cannot afford their mortgage
Whenever a borrower affixes his signature to a promissory note, he or she agrees to pay a creditor a given total of money, under specific provisions. So that the creditor is able to take care of his or her interests, he or she will ask the borrower to security document like a mortgage, in favor of the
Secured debt settlement can be a bit of a challenge, since secured debt is harder to negotiate or settle than unsecured debt. Secured debt is debt that has collateral associated with it. In other words, there is a product or an item that secures the debt and that the creditor can take if the borrower
It is a fact that most students who pursue higher studies have a student loan to repay. Over a period of time, this debt liability becomes burdensome and you desperately look for ways and means to get rid of this debt. As is known to all, student loans are unsecured loans and the only assurance is the
Mortgage debt settlement can be difficult, as a mortgage is a secured debt. This is especially true for a first mortgage on a home, as the lender who has the first mortgage on your house has first rights to foreclose and collect the proceeds from a sale if you do not pay. To better understand why mortgage