i talked to my mortgage holder but they jsut said yea right. i feel helpless does anyone have any answers
2007-02-03 23:28:34 · 10 answers · asked by pumba_1956 1 in Business & Finance ➔ Credit
you may have to turn your property into a rental, unless you can flip it. i read the other day that in many parts of america the housing bubble has already popped and prices could be coming down.
2007-02-03 23:32:28 · answer #1 · answered by lat0ria 3 · 0⤊ 1⤋
Is your mortgage current?
Did an increase in taxes make it to high?
If you are on a 15 year mortgage, maybe you can change it to a 20 or 30 and that will drop the rates a bit.
Talk to a loan officer about a refinancing.
Is there any way you can raise your income?
Are you looking into some things that you can do to raise your earning potential with your current employer?
Could you take a paper route or get a second job?
Is your home winterized (cut in heating cooling costs)
Are there other things that you can do to cut expenses. (drop the cellphone plan with the Razor phone and get a $15.00 a month pay as you go plan for emergencies, cut cable etc)
GOOD LUCK
2007-02-04 05:34:51 · answer #2 · answered by lisa s 6 · 0⤊ 0⤋
Bad credit is one of the worst problems to have... however there exists a solution.
I will hereby talk from my personal experience.
I did debt consolidation a couple of years ago, however If I had to do it again I would pay to some minor details,
if someone wants to get out of debt today it is pretty easy with a debt consolidation plan, however it may get a bit tricky at times, I suggest you get as much information as possible online on this first,
a good place to start in my humble opinion is astraight to the point ebook with question and answer I found :
http://umgarticles.atspace.com/debt-consolidation.htm
if it helps kindly remember me in your voting!.. cheers!
2007-02-06 23:36:07 · answer #3 · answered by gabriel jones 4 · 0⤊ 0⤋
You may wish to consider downsizing to another home that you can afford. The reason for your bad credit may be the result of trying to live above your means. Only you can decide on your priorities but affordable living should trump over impressive living. Your choices in life are to increase income or decrease expenses.
2007-02-03 23:36:49 · answer #4 · answered by Anonymous · 2⤊ 0⤋
once you're saying with out "conformed earnings", do you recommend your chum's tax return heavily isn't particular the quantity of earnings he claims? i think of you have been meaning to assert shown earnings. Banks make suggested earnings or no earnings/no asset loans to those who've a tough time verifying their earnings, like people who're self-employed or those with unearned earnings, like have confidence funds or annuities. there is an greater possibility for the economic organisation (your chum being a working occasion) so the guy's credit might desire to be solid (in my organisation 720 is the minimum) and the interest value is greater to seize up on the added possibility. quite than permit it foreclose, your chum might desire to consult the economic organisation, clarify the area and see in the event that they are able to artwork with him on it. only letting the abode flow will ruin his credit and throw away all the money he's already positioned into it. The economic organisation somewhat does not choose his abode. it is not something yet difficulty for them so as that they are able to looking a thank you to artwork it out with him. He needs to speak to somebody interior the servicing branch, not interior the refinance branch.
2016-09-28 09:57:07 · answer #5 · answered by ? 4 · 0⤊ 0⤋
Get a second job and pour every single cent into your mortgage.
After a year or so, refinance with another company (if you made all your payments on time).
How didn't you realize this before you bought the house?
2007-02-04 01:42:27 · answer #6 · answered by Gem 7 · 1⤊ 0⤋
Lenders will do everything they can to get you into the house regardless of whether or not you can afford it.
You can't even sell it now because the price is lower than what you bought it for.
Get a roommate.
2007-02-04 03:38:43 · answer #7 · answered by Anonymous · 1⤊ 0⤋
Maybe you can refinance ? Or accept to rent a room for a few months to get some help to pay off some bills or debts ?
http://index-go.com/debt-consolidation-refinance-loans-mortgage.asp
2007-02-05 06:30:37 · answer #8 · answered by Anonymous · 0⤊ 0⤋
Some info here:
http://www.vancouverfinder.org/business/bad-credit-loan.html
Hope this helps,
2007-02-04 09:37:02 · answer #9 · answered by Anonymous · 0⤊ 0⤋
It's hard for us to know your situation with so little information.
How long have you been making payments?
How much do you think your home is worth?
How many banks have you been to for refinance?
2007-02-03 23:34:44 · answer #10 · answered by Anonymous · 0⤊ 0⤋