D' Finance Bench

The Right Place To Sit At For Financial Advises

How To Modify The Terms On My Loan?

Today, consumers are now allowed to modify the terms of their loans if they are incapable of paying the premium as stated on their original contract. Note that you cannot just modify your loan simply by declaring to the lender that will not be able to pay because you are broke. You must show proofs (legal papers, e.g bankruptcy declaration) that you are incapable of re-paying your financial obligation.

Here are the common methods used by majority of consumers to lower their loan terms. You may ask a professional financial adviser of how these things run and the complete set of documentation required for your case. Continue reading

September 21, 2012 Posted by | Loans, Mortgage | , , , , , , , , | 1 Comment

Explain To Me What Mortgage Loan Modification Is

What exactly is “mortgage loan modification”?

It seemed like almost everyone knows the benefits of this. Are you aware how mortgage loan modification can help you avoid foreclosure? Continue reading

September 21, 2012 Posted by | Loans, Mortgage | , , , , , , , | 4 Comments

Credit Score and It’s Affect To Your Financial Life

A Credit Score Is…

A set of three digit number on which serves as the average of your credit grades  shown on your credit report. The grade is evaluated by financing institutions based on your re-payment mannerism. If you pay good then you’ll have good score.  The higher the score, the better. The score usually ranges from 350-800. Continue reading

August 30, 2012 Posted by | Credit Score | , , , , , , , , | Leave a comment

Gasping For The Debt Free Life

debt reductionA debt is basically the quantity of money that one owed to a financial institution (e.g bank or credit company).  This is presented in form of different repayment terms like bond, loan or mortgages. Most of the time, you will be required to pay a certain interest rate based on the amount that you owed. The whole amount must be paid according to the term that both the debtor and lender agreed. There would be a required penalty if you can not re-pay your debt on the set time.

One particular cause why people tend to dive into debt pit is due to income reduction. The prices of the things needed for our daily lives increase, yet, it is comically sarcastic how wages would usually go down due to some economy crap. That is an unfair fact, but what can we do? That’s why people would rather be rescued by loaning money. The way you managed your financial matters also has a huge impact on your debt issues. If you happened to have unorganized way of managing your money, you would likely end up in cycle of endless debt. There is gambling too, a moronic way of obtaining money. or it would be the other way around where you’ll become instantly “a thousand dollar richer”.  Some of us would rather take the short cut of “freeing” theirselves from money issues by means of spending money for the “chance” of doubling it, that is, if they are lucky.  During medical emergency times in the family, and the affected happened to have no medical insurance or money at all, then the only option is by borrowing money. This is when debt starts to arise. The patient can’t work and he has debt from his hospitalization expenses, you can figure out the rest of the scenario. Continue reading

August 28, 2012 Posted by | Debt | , , , , , , , , , , | 4 Comments