Loan Modification is the answer to todays Mortgage Crisis - Tampa, Florida

All of us in Tampa, Florida have either been or will soon be, affected by the current Mortgage crisis. Some of our businesses are suffering losses or failing, many people have lost their jobs, others did not get the pay raise that they were expecting or a promotion that they should have received. To make matters worse, countless American families, every day are also experiencing an increase in their monthly payments because of their adjustable rate mortgage(s). In an alarming number of cases, these families have been unable to refinance their homes due to falling real estate prices. Unfortunately due to the enormous number of sub-prime loans that were originated between 2002 and 2006. Millions of Americans are enduring or will soon be forced to endure foreclosure. Many homeowners only option is to face foreclosure or attempt their own Loan modification. Loan modification is hailed by Experts as the answer to the current mortgage crisis that is causing so many homeowners to lose the family residence to foreclosure. Not only does this procedure permit the homeowner to stay in their home, protect their credit from the adverse effects of a foreclosure, but it also allows homeowners the opportunity to greatly lower their monthly payments. In short, a loan modification is a means of avoiding foreclosure for homeowners who are upside down in their mortgage loans and therefore do not qualify for a simple refinance loan. The Home Loan Crisis Center, located in Tamp, Florida performs loan modifications, assisting homeowners in danger of losing their homes to foreclosure to traverse the maze of red tape, gather the needed documentation for a successful loan modification, provide expert negotiations on behalf of the homeowner and if necessary perform a Forensic Mortgage Analysis to detect inconsistencies and or violations with respect to RESPA and TILA guidelines created to prevent / shield homeowners from Predatory Lending Practices, Toxic Loans, Out of control ARM mortgages and Interest Only mortgages. The advantage of having such assistance is obvious: since for many homeowners the loan modification process is a last ditch effort at saving a home that might otherwise fall victim to foreclosure. It should be noted that great care must be taken to negotiate the best terms possible that will be advantageous for the borrower as well as permissible by lender guidelines. It is interesting to note that consumers contacting their lenders directly in an effort to negotiate a loan modification almost always fail to receive the best terms possible. Homeowners showing the highest success rates are those who work with Loan Modification Experts well versed with RESPA and TILA guidelines. Those in need of such assistance must exercise great care when selecting the right company. In addition the foregoing, homeowners must be aware that the governmentally stipulated homeowner relief packet that provides one or more month(s) hold on foreclosures is not the same as a loan modification plan but instead it simply offers a window of time that the wise homeowner will utilize to actively pursue a loan modification. It is crucial to get the loan modification process started as soon as possible to turn your financial hardship around. Home Loan Crisis Center, LLC. Offers a Free Consultation to help homeowners determine the best course of action and never charges any upfront fees. In fact, we do not charge anything until our services have been successfully completed.

The Banker's Guide to Solving Your Own Personal Credit Crunch

One Community Bank's 3-Step System for Wiping out Credit Card Debt

Now more than ever, the news about banks lending money is doom and gloom. From the president's sobering speeches about this country's financial crisis to the headlines to the 24-hour financial news segments, the message is clear: "Banks aren't lending money anymore…"

But not all banks are created equal. In particular, community banks that make their own decisions, have their own boards and manage their own funds are operating business as usual; that means they're lending money as they've always been; but that doesn't mean it's a free-for-all, either.

Every bank wants to make good decisions, and lending money is serious business. Banks want to make sure they are lending to people not just who can pay them back but who can afford the loan in the first place.

Looking at someone's credit card debt can be the first step in determining whether the money the bank does have to lend will be a good investment. Unfortunately, many people fall short when it comes to managing this very specific kind of debt.

According to Robert Sumner, CEO of First National Bank of Pasco (FNB Pasco) near Tampa, Florida, "Credit card debt seems to be the biggest problem our clients have when getting themselves in trouble."

Sumner adds, "Everybody complains about their mortgage payments, their car loan, but they get surprised when we show them that, once you add up all their credit card debt, it can sometimes equal or even surpass what they pay out in home AND car loans each month!"

In an effort to inform his current, and potential, clients on the dangers of credit card debt, Sumner and the folks at FNB Pasco have come up with the following 3-Step Debt Solution Plan:

• Step 1 - Admit Things Are Out of Control: The first step in solving your own financial crisis is to admit there is a crisis in the first place. This can be as simple as taking five minutes to gather ALL of your credit card bills together (no hiding any) and adding up the monthly payments. If your blood pressure is rising halfway through the stack, you'll know things are nearing crisis point. • Step 2 - Get Things Under Control: If it's clear that your debt load is becoming insufferable, take steps to get them under control. This could mean a system of paying off one credit card at a time. In other words, if you have six credit cards, pay the minimum on five and the maximum possible on the sixth until it's paid off. Once you're down to five credit cards, pay the fifth off before focusing on the fourth, and so on. Of course, if your debt load is crippling you may want to consider a debt consolidation service. (Your local community bank can often recommend several credible candidates.) • Step 3 - Keep Things Under Control: Once you begin to get your debt under control, keep it there. Says Sumner, "We see people all the time who have worked so hard to get their debt under control, only to sully their 'clean slate' with even more debt so that they wind up, months later, in the same boat." Having a budget and sticking to it is a great way to begin keeping your debt under control. So is limiting yourself to one or two credit cards and always keeping both under half of the credit limit.

We all have debt; debt is a basic fact of modern American life. The goal is to have good debt; debt that allows you the freedom to pursue certain financial goals without limiting others. Using this simple 3-step plan you can always be sure you're striving for good debt over bad.