Debt Negotiation Zone » buy a home while in debt negotiation http://debtnegotiationzone.com Debt Negotiation Fri, 19 Aug 2011 22:59:35 +0000 en hourly 1 http://wordpress.org/?v=3.2.1 What you need to know about Refinancing http://debtnegotiationzone.com/what-you-need-to-know-about-refinancing/ http://debtnegotiationzone.com/what-you-need-to-know-about-refinancing/#comments Tue, 17 Nov 2009 01:39:43 +0000 admin http://debtnegotiationzone.com/?p=755 As a consumer if you are considering a refinance or a new purchase, you need to have all of your financial information available.  By having all the information available, the lender will be able to assist you and explain to you all your various options whether under a FHA financing program or another loan program.

 

It is important for the consumer to present the following items which visiting with a lender:

 

  • Complete copy of last 2 years personal tax returns for all borrowers
  • Copy of most recent paystub for all borrowers
  • Complete copy of last 2 months bank statement on all types of accounts

 

Some programs may not require this type of financial information.  However, the more information provided to the lender allows for a smoother the transaction for the consumer.  In addition, it allows the lender to have a frank discuss with the borrower on the types of programs that will meet their financial requirements.

]]> http://debtnegotiationzone.com/what-you-need-to-know-about-refinancing/feed/ 0 How Do I Get Rid Of Credit Card Debt? http://debtnegotiationzone.com/how-do-i-get-rid-of-credit-card-debt/ http://debtnegotiationzone.com/how-do-i-get-rid-of-credit-card-debt/#comments Wed, 15 Oct 2008 23:17:05 +0000 admin http://debtnegotiationzone.com/?p=359 How do I get rid of credit card debt fast?  Being in credit card debt can be a frustrating and scary experience.  The over the limit fees and the late fees can get burdensome if not pushing you over the financial edge.  If you have your back against the wall you do have a few options.

What Is The Quickest Way To Get Out Of Debt?

The two fastest ways to get out of debt are either bankruptcy or debt settlement.  A chapter 13 or chapter 7 will take the financial burden off of you the fastest.  A chapter 7 bankruptcy is a total liquidation of the debt while a chapter 13 is a debt workout program.  You will have to make payments over time to your creditors.  Once you have completed your bankruptcy program you will be discharged from the bankruptcy.  The bankrutpcy will appear on your credit however for 7-10 years.  You will be excluded from buying a home for at least two years from the discharge date with a bankrutpcy on your credit report.

Debt Negotiation Is A Fast Way To Get Rid Of Credit Card Debt

If Bankruptcy is not for you, credit card debt settlement may be the best option for you to handle your credit card debt.  Debt settlement and debt negotiation are a way to work with your creditors to negotiate on the original principal balance.  Debt settlement has no long term negative effects on your credit report like a bankruptcy does.  In fact it is possible under Fannie Mae home loan guidelines to buy a home.  In fact some people in debt negtiation programs are able to buy home even before their debt program is complete.  Fannie Mae loan guidelines allow for up to $5000 in open collection accounts without loosing eligibility to buy a home.

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