Comments for eLoanz

Comment on Short refi or short sale, what will be the problems or delays? by kemperk

kemperk — Fri, 30 Jul 2010 08:55:50 +0000

2 things to keep in mind;
if the first lender is not paid by you–
and forecloses, the 2nd lender has to pay off the 1st mortgage to keep
his loan good.
———–
you might consider selling PART of the house–1/4 or 1/3rd, whatever,
so that you can keep the house and
stil live in it.

lastly–consider putting in a small
biz into the house to help pay the
mortgage.

Comment on reverse mortgage information needed? by Andrea

Andrea — Fri, 30 Jul 2010 08:06:01 +0000

You probably wouldn’t have much equity to do a reverse mortgage.

Comment on Small business loans and grants for new start-up? by Pobept K

Pobept K — Fri, 30 Jul 2010 03:50:12 +0000

If in the USA, check out the Small Business Administration, they can be very helpful on a new business start up.

Comment on 21st century call me and they said that they can help me do a modification on my mortgage payment and they? by v b

v b — Thu, 29 Jul 2010 23:30:36 +0000

These days I’d say it was a scam.

If you can’t go to their offices IN PERSON and verify that they exist, don’t bother.

Comment on I don’t work hard for my money.I take other people’s money to loan to others and then lose it all? by Adelaide B

Adelaide B — Thu, 29 Jul 2010 22:33:46 +0000

I need a bailout because my rent is about to increase and I think I deserve a Billion dollars to compensate me for this expense.

After receiving this bailout money I’ll give myself a Fifteen Million dollar bonus then lose the rest of the money so I can ask for more.

They’ll probably give me a Billion dollars more so I can turn around and do the exact same thing I did before.

But seriously people, something definitely stinks in Denmark with all these Government bailouts and I’m seriously worried about what they’re going to do next.

Comment on Will having a home modification loan affect my financial aid? by Blake

Blake — Thu, 29 Jul 2010 22:01:25 +0000

has all the information you need on how to apply for financial aid, consolidate your student loan debt, or any other information regarding student loans and financial aid.

Comment on What is the best way to repair credit if you can’t get any credit because of the bad history? by RAY

RAY — Thu, 29 Jul 2010 21:45:50 +0000

Unless those creditors are still contacting you for payment, don’t send them a dime or it will record your payments and start the seven year reporting from “last transaction date.” The odds are they have already written you off if they are not chasing you for payment; however, don’t dismiss the fact that they won’t still try to collect from you. Instead of sending them payments why not open a savings or investment plan over the next 3 years to build up a cushion and work with cash instead of credit? You can have a nice head start on a down payment for something you want or need in the future. You should also consider getting a secured credit card to build up current credit for when those other debts fall off your record. When those debts are off your record, you will at least have one credit card showing 3 years of current and good credit but don’t max it out. Use it for history purposes.

Comment on How to repair credit rating? by JennyKS

JennyKS — Thu, 29 Jul 2010 20:41:08 +0000

Most companies are a scam, especially if they ask for money upfront which is illegal per the credit repair organizations act (http://www.ftc.gov/os/statutes/croa/croa.shtm).

Anything one of these companies promises to do, you can do yourself.

In short, there are 3 ways to raise your score in the next year:

1. pay your bills on time. simple as that, time takes care of a lot. Payment history is 35% of your FICO score.

2. 30% of your score is utilization (how much credit you are using). If you can get your credit card usage paid down to less than 10% of your limits, you should see an increase simply by paying cards down.

3. Get your free annual credit reports and dispute negative and/or wrong information contained in your report. It’s your right.

Before you feel pressured to pay a collection agency (if you have any bothering you), please note that FICO does not distinguish between a paid collection and an unpaid collection. Both hurt equally.

Also, check the statute of limitation for debts in your state (google can help). Collection agencies are notorious for collecting on debts beyond the limitations for a consumers state.

Three sites (that DO NOT sell anything) that I can recommend for more information than I can provide in one post is:

Time heals a lot of wounds (derogatory information can only stay on your reports for 7 years), but by disputing information contained in your report and keeping your utilization down, and paying all your bills on time….. you will see a score increase.

Comment on will our lender start foreclosure if we are in the midst of trying to obtain loan modification? by informationexpert

informationexpert — Thu, 29 Jul 2010 20:37:38 +0000

I am so sorry of your problems!! I was in the same boat a few months ago. It sucks I know. My friend told about this website with an awesome ebook that would give me and my wife the answers we needed to solve our problems. It mostly certainly did all the information that we needed to ask the right questions to our loan company. I hope this solves your very difficult problems like it did my family. Truthfully this little ebook probably saved our marriage thank god. I hope this answer helps you. God bless you.

Comment on Do I Have a Good Chance ofGetting Approved? by lifelongfriendjeff

lifelongfriendjeff — Thu, 29 Jul 2010 19:20:06 +0000

There are lots of second chance lenders out there. You can get a loan but you have to be able to live with the terms they want to give you the money. It may be best to put money in the bank and borrow against that money to establish a payment history that will be reported to the credit bureaus. Build up slowly and use bill payer accounts to ensure your payments are made on time. Get automatic deposit too. Banks love keeping people out of their lobbys. By doing these things you will build a great credit rating that will always get you that loan.

Good luck.