If you are lucky enough to enroll in the Obama administration's $75 billion "Making Home Affordable" program, borrowers enter a trial period in which they make at least three payments. Some are finding out that their credit score takes a dive during this trial phase. It happens once their mortgage company notifies the three big credit bureaus -- Experian, Equifax and TransUnion.

For borrowers who are making their payments on time but are on the verge of default, the Obama administration's loan modification program can reduce their credit score as much as 100 points. That makes it harder to get a loan and can present a problem when applying for a new job. Is that what they call help or being lucky?

For delinquent borrowers, the damage was done when they fell behind on their loans. But for homeowners who are having financial troubles but managing to pay their bills, a request for a loan modification is the first sign of difficulty. And that means a sharp drop in the borrower's credit score.

AP Article: "Credit scores can drop after getting loan help"

This is a topic of conversation that the media is not telling us the truth but rather dividing us. They paint Americans who purchased a home in the last 10 years as either financially responsible or fools that bought property that they know full well they could not afford. Well now we know better or should know better!

It is time to takes a hard nose, take no prisoners attitude when dealing with predatory lenders. The new proposed mortgage bailout plan to assist Americans facing hard times will not help very many as is presented in the article above. Most borrowers sign their closing documents very reluctantly knowing that something is wrong, but not knowing what to do about it.

I have several documents exposing exactly what did happen at the Closing Table. I thought I knew generally what did happen. Gut boy was I surprised! If you what these files request them via email and I will forward them to you.

We are told that the USA is still governed by the rule of law. If you believe that, it is time to fight back and use the resources here and else where. Put your fears way and do fight back. If you don’t the banks will only keep on increasing the heat until the pot boils and you are cooked!

Please feel free to pass this message on to your contacts. I would appreciate that and they will certainly benefit from the information. Thank you. [Read More!]

Credit Card ads are worse and more harmful to the US populace than the cigarette ads of the 50's and 60's.

We have credit cards that are running (every time you use your credit cards you have a chance of being rich) lotteries

Rewards and cash back that do not come close to covering the finance charge and the best one is using cash and you stop the flow of progress and are looked on as an idiot.

Credit card ads should be outlawed the same as cigarettes and hard liquor. Let's put that on the agenda for a debt free America. [Read More!]

Just this morning I spoke with some one who contacted me about their Debts ..both Secured (home mortgage) and Unsecured debt (credit cards) after they had received and reviewed the services/solutions that I offer. We had a lengthy conversation. More or less this person said that ultimately, facing an impossible financial situation they just might walk away from this mountain of debt. Yes, we see the decision to walk away from debt being taken by many American families. As much as they understand (right or wrong) that they have made a moral obligation to pay their debts, it is their choice to do the immoral thing and walk away. But the point of this writing is a question... What are the COSTS of Walking Away from unbearable Financial and Moral DEBT?

[Read More!]