Archive for July, 2011
Mortgages May Find Approval Through a Debt Management Program Sooner Than Expected
With banks returning to more prudent lending practices, many applicants for mortgages may find that they are being denied for mortgages not because they have low credit scores but because they are carrying too much credit card debt. The problem is not their credit score, it’s their debt to income ratio.
A specialized debt management program, receiving much lower interest rates may get a mortgage approved sooner than a consumer or mortgage broker expects. There are benefits to getting lower interest rates and making timely payments. We are contacted frequently for the transaction history as well as our permission for a client to obtain additional lines of credit. These are things we can do quite readily, even if the client has not completed our program. When they have demonstrated a good payment history and are well on their way to being free of the debt that had been holding them back, we can help.
Tags: accou, calculator results, chase account, citibank account, credit card debt, current interest rate, debt management program, debt to income ratio, payoff calculator, payoff timeRelated posts
Maximizing Your Income – Minimizing Your Debt
Are your debts mounting up, are you in a debt management plan, considering debt consolidation or do you just want to save up for that special something Well here are some top tips on how to increase your household income.
Get a part-time job
This is something either you or your partner can do. Use all the money you earn through this extra work to pay off your debts. Do not use the extra money to treat yourself. Overtime Find out if there is any overtime available and as above use this money solely for the purpose of lowering your debts.
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