Tips on Digging out of Debt

Getting yourself out of debt can often seem downright impossible. After all, there is so much involved in maintaining a responsible budget. Because of this, it seems that when you are loaded down with debt, the task of getting out can seem insurmountable.

However, there are ways to accomplish your goal of becoming debt-free and it usually comes down to being able to become financially disciplined and fiscally conservative and responsible. Here are some tips to get you started:

- Assess your current financial picture: You have to get a clear idea of where you are financially at this moment. The best way to do so is by making a list of every bill you have, the balances and how far past due they area. This is particularly important if you are behind on mortgage payments or looking for a mortgage loan modification.

- Figure out how much is going out each month versus what is coming in: It is important to determine how much income you are bringing home versus the amount of debt you have. This will be help you to determine how much you are able to pay down your debt each month. You’ll also need to know this as you go through a loan negotiation.

- Make a plan and stick with it: Come up with a plan to pay down your debt and make cuts in your budget where to can to accommodate the expense of doing so. This may be difficult at first because it requires quite a bit of financial discipline. Once you have drafted a plan, be sure to stick with it.

- Consider debt consolidation: There are a number of organizations that can help to consolidate your debt into one loan with an affordable month payment. This may be a good option for you. However, it is important to do your research before choosing a company to assist you and remember there are a number of predatory companies looking to take advantage of consumers trying to get out of debt. A debt-consolidation program is an optimal choice for those with a very high amount of debt. Those in this category would benefit from the ability to make one monthly payment.

- Talking with a debt counselor can help you to determine whether this is the best option for you.

-Set realistic goals: Make sure that your financial goals are realistic and attainable. Having a goal in mind will help keep you on track as you strive to achieve a debt-free lifestyle.

It is possible to become debt-free. Being informed about your current financial status and putting together a plan to address it are the first steps to put yourself on the road to eliminating debt and rebuilding your credit worthy status.

Saving Homes From Foreclosure

We've been very busy helping people save their homes from foreclosure. The key to success is cooperation from the homeowner to get the information we need to save their home or work out some alternative than just letting their home go into foreclosure which ruins their credit and possibly their chance to buy again in the future. It also hurts the US economy and all of us.

When we accept a Client we have already screened them to see if the effort will be successful for them. We then ask them for about a dozen documents or papers to make our case with the lender.

Usually these items are:

• Borrower (s) authorization form for the negotiator to speak directly with your Lender on your behalf.- (We will supply one from your Lender)
  
• Hardship Letter – Back-up documentation for letter. (If illness medical records, bills, etc.; if divorce, dissolution agreement, if job loss – proof, etc.)
  
• Three (3) months copies or Bank Statements – ALL PAGES. (Includes – Checking Accounts, Savings Accounts, Money Market Accounts, Retirement Accounts, Stocks and Other Investments)
  
• Thirty (30) days of pay stubs
  
• A copy of your last two (2) years 1040s returns. (Federal Tax Returns – all schedules.)
  
• Credit Report – http://www.annualcreditreport.com/ - Equifax
  
• Detailed Monthly Budget – We will send you a form if you need one.
  
• Most Recent: Mortgage Statements, Homeowners Insurance, Property Tax Bill, Homeowner’s Association Statement
  
• Original Loan Application, Loan Disclosures, Good Faith Estimate, Copy of the Closing Statement, Copy of the Note, Copy of Deed of Trust, (if purchase loan – Real Estate Purchase Contract and Appraisal) and Credit Report used for the loan.
  
• Financial information must be supplied for each borrower either on original loan application or combined family income. Lenders need to see you can afford the new loan amount. So ANYONE that contributes to the household expenses should contribute their income statements and financials such as Bank Statements, EVEN if they are NOT on the loan.
  
• If self-employed borrowers must complete a 6-month to 12-month (depending on the time of the year) profit and loss statement.
  
• Copy of rental agreements for each investment property
  
• Profit and Loss Statement for each investment property (You can use last year’s tax return for the property and apply this year’s credits and debits.)
  
• Copy for your Driver’s License and Social Security card.
  
• Congratulations, you are done with the list!
  
  We can not modify your loan, do a loan workout, lower your loan principle, do a short sale setup, or anything without all of this paperwork, nobody can. Any delays in getting this paperwork just pushes our client further behind the eight ball.
  
  So if you are 'all in' and you want to save your loan and save your home, provide ALL of the requested paperwork from your negotiator like RescueMyLoan.com and help them help you!

What is a Loan Modification?

Loan Modification is a permanent change in the terms of your existing loan. Lenders may restructure your loan in a number of ways including a reduction in the interest rate, an extension of the length of the loan, adjusting the principal balance, forgiving any back payments or late fees. If you are behind on your payments, in fear of foreclosure, or anticipate not being able to afford your home loan, you may be a candidate for loan modification. Expect the Loan Modification process to take approximately 30-90 days. RescueMyLoan.com will take care of all the phone calls and complex negotiations.

Welcome!

Reduce Your Payments, Stop Harassing Calls and Save Your Home!

Loan Modification is a permanent change to your existing loan(s). RescueMyLoan.com will negotiate on your behalf with your Lenders to restructure your loan in a number of possible ways, which may include:

· Reducing Your Interest Rates and Payments
· Extending the Length of Your Loan
· Lowering Your Loan Balance
· Forgiving Late Payments or Fees.

Through the use of Loan Modifications, Short Payoffs, Deed-in-Lieu of Foreclosure, Workout Mortgage Assumption and other programs, RescueMyLoan.com will work to create the best possible realistic loan solution to fit your needs!Please don't hesitate to call 800-610-8357 Today!