Debt Relief for Homeowners

by: admin Wednesday, January 19th, 2011

When the American real estate market crashed in 2006, so did the second mortgage financing that enabled homeowners to make credit card problems disappear. Unfortunately with no equity, lenders were not interested in offering debt consolidation home loans.  With no equity, there was no collateral so the home equity loan programs disappeared and debt relief solutions evolved. 

Ultimately, these accounts will be noted as “settled-in-full” on your credit report, indicating that you settled the account for less than what you owed.  Many homeowners consider debt settlement rather than filing a bankruptcy because the credit rebounds quicker with debt settlement than it would with a chapter 7 bankruptcy.  Read the original article > Why Debt Settlement is Becoming Popular with Homeowners

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