In uncertain times, it can be nice to have a little help. This article examines FHA loans, and whether or not they could be right for you.

A look at how the business of renting out property is becoming more and more worthwhile given the difficulty of buying property at the moment.

Reverse mortgages are an exciting and fast growing way for seniors 62 and older to keep their property and tap their equity to improve cash flow. Here are some frequently asked questions.

A few ideas for those needing to raise extra finance to avoid financial difficulties and eviction.

This document explains the eviction process used to evict homeowners in the UK due to unpaid secured loans. It offers advice on how to prepare for the court hearing and how to deal with lenders.

Learn everything you need to to write a hardship letter. Gain the knowledge you need to reach out to your lender so they understand your hardship.

The current mortgage system is designed to squeeze as much money out of you as possible... WARNING: you're at a severe disadvantage because mortgage companies charge as much interest as long as possible without informing you in a clear way all the steps you can take to change it. The current system requires your payments follow an "amortization schedule", which forces most of your money to go towards interest. In the first five years, you could end up spending five times more in interest than in mortgage principal - and that's a huge chunk out of your paycheck! So if you make $12,000 in principal payments, you end up spending $60,000 in interest. Unbelievable! For a simple calculation go to Bankrate. And when you move, the bleeding starts all over again... The banks know you'll probably move again or refinance in 5 years, and then the cycle of paying more interest starts all over again. It takes years before your loan balance is reduced by a small amount-how unfair is that? How many years have you been paying off your mortgage and are you really further ahead? But here's how to fight back... You're going to love this...there's an improved method you can use to reduce these interest payments. The way to do this is simple. Apply more of your monthly mortgage repayment to principal rather than interest without changing your repayment or refinancing your mortgage. For example, if you pay $1,200 towards your monthly mortgage repayments, $1,100 goes towards interest and $100 towards principal early in the life of the mortgage. You can pay more to principal, less to interest...and it's perfectly OK with the bank! Hang onto your seat, because now there is a way to apply $900 towards interest and $300 towards principal without changing your lifestyle or paying more anything...and the best part is that the banks will gladly accept this! This method has been around forever but nobody has figured out how to use it. Until now. Wouldn't you like to shave 13 years off your mortgage? You can! Here's how... Your mortgage can be paid off in one-half to one-third of the time. Most of our clients shave at least 13 years of their mortgage without spending a cent more. And no, you do NOT have to refinance or get another mortgage; just have an open mind and a willingness to tackle a common math problem! The concept is really simple. All you have to do is use a mortgage checking account the right way. Once you set this up you begin immediately allocating more of your payments to principal rather than interest and end up paying your mortgage much faster. The best part of all, the banks happily accept this. Here are the 7 basic steps you need to follow: 1. Calculate your personal "HELOC number." 2. You set up a Home Equity Line Of Credit (HELOC) for the Heloc number. 3. You pay your bills and mortgage on time. 4. You transfer money to your HELOC at the right time. 5. Your bank takes care of the rest-and they're happy to do it! 6. Create a spreadsheet to make sure you stay on track. 7. ...and YOU PAY OFF YOUR MORTGAGE AS EARLY AS 13 YEARS SOONER THAN NORMAL, AND SAVE AN AVERAGE OF $67,636 CASH! You will NOT have to change your day-to-day spending habits or your lifestyle to take advantage of this concept. It's a sound, smart way to pay down your mortgage.

This article discuss the options for people in arrears on their mortgages or secured loans (a separate loan secured on the house).

This adage has been used so many times that it is already a cliché to some but there is no escaping the fact that the home will always be some place a person remembers As such, an individual gives very high importance in choosing his or her home. It only follows that he or she should give equal emphasis to home mortgage.

A non-performing loan is a loan that is in default or close to being in default. Many loans become non-performing after being in default for 3 months, but this can depend on the contract terms. "A loan is nonperforming when payments of interest and principal are past due by 90 days or more, or at least 90 days of interest payments have been capitalized, refinanced or delayed by agreement, or payments are less than 90 days overdue, but there are other good reasons to doubt that payments will be made in full" What is secured debt? Debt backed or secured by collateral to reduce the risk associated with lending. An example would be a mortgage, your house is considered collateral towards the debt. If you default on repayment, the bank seizes your house, sells it and uses the proceeds to pay back the debt. Assets backing debt or a debt instrument are considered security, which means they can be claimed by the lender if default occurs. Obviously unsecured debt is higher risk, and as such lenders of unsecured money typically require a much higher return. What is unsecured debt? The concept of unsecured debt is easily understood when its opposite is considered. A good example of secured debt would be a mortgage. The bank loans out money to a lender who uses it to buy a house; the house becomes the asset backing the loan. In the case of unsecured debt, a lender loans money without the security that an underlying asset provides. For this reason, unsecured debt carries more risk for the lender, which in turn makes the loan more expensive. The more additional risk that a lender must take on, the higher the rate of interest a borrower must pay, making unsecured loans subject to higher rates. So what does this mean to a lender who holds a non-performing secured note on an upside down home? If a lender is holding a note on a home that's worth less than the amount on the loan then a portion of that note is basically unsecured. If a lender is in a 2nd lien position on a secured loan and the loan defaults there must be enough equity to pay off the 2nd after the 1st is paid or the 2nd lien holder becomes an unsecured creditor. If a home owner is behind on mortgage payments or in default and owes more than the property (secured debt) is worth then what makes the most sense to the lender? One would think the lender would be encouraged to work out the loan or take back the property and write off the losses... Like they need more write-offs! So why do we have such a high rate of foreclosures and the lenders work outs not working? The answer is simple, lack of communication and the inability to properly negotiate through these non-performing loans. They are just trying to collect a debt and they' they only know one way, a forbearance agreement the borrower can't afford! So you have to ask yourself why can't they just take the past due amount and put it on the end of the loan then have the borrower just continue to make the payments? There are several reasons why this is not practical. I mean really, these borrowers think they got screwed and many of them are right! The rates went up with the cost of living, the property values went down with most home owners income, and some got a double whammy trying to leverage their home with an Option ARM home loan or equity line. So what's the answer? Loan modifications...If you want to negotiate with your lender then hire a pro. Hire an Attorney! Having the knowledge and know how necessary to facilitate a successful resolution is what they do... While most individuals have the ability to negotiate face-to-face with another party, the terms of the deal must be properly memorialized in a contract in order for them to be legally binding. Attorneys can do that by not only negotiating on your behalf, but also making sure that the contract adheres to all state laws as well as addresses any specific issues that might affect the future use of the property while keeping their client's best interest at heart. For example, in New Jersey, the law stipulates that the buyer and the seller have three days to review a real estate contract signed in conjunction with a realtor before it becomes legally binding. Some home buyers/sellers aren't aware of this. A lawyer will not only make the client aware of it, the attorney will also review the contract for any legal glitches, make any necessary changes to it, and insert any contingencies that you might have. In addition, if you have a subprime or option ARM loan the Attorney can threaten to rescind the loan if they find TILA or RESPA violations and use these violations as leverage in negotiating a loan modification on a secured debt. Bottom line... If you're in trouble, facing default or foreclosure you may need to hire an Attorney to handle the negotiation to save your home from foreclosure. A skilled Attorney may be able to negotiate your interest rate, principal balance and the terms of your loan. A "make sense" offer to the lender with supporting criteria showing them how bad it could be for them if they don't modify the existing terms of your mortgage may be the best solution for both parties. The loan performs for the lender and the client keeps their home.

If you are paying 40% or more of your paycheck to your mortgage, there is nothing left to invest or to enjoy your life. Here is where it gets worse. Your ARM is designed to trap you into a lifetime of payments... That does not make sense right? You plan to refinance your mortgage after your ARM expires and when that's done you plan to take out a 30 year mortgage payment. Let's see how the banks have designed an ARM. Let's assume you have a $200,000 Adjustable Rate Mortgage. The interest rate is 6.5% and the ARM adjusts in 5 years. The monthly installments are $1264.14 (see Bankrate). At the end of the first 5 years you end up spending the following: Total Repayments: $75,848, of which $12,778 goes to principal and $63,070 in interest. So you pay five times more in interest than principal only in the first 5 years. Now what do you plan to do after the first 5 years, when you ARM expires? You probably move to a new home and take out a 30 year mortgage. Here is an important question. How long will you have a monthly mortgage payment? Is it 30 years? As you can see it is 35 years. The first 5 years on your ARM then another thirty years on your fixed mortgage when your ARM expires. Let's assume that when your ARM expires instead of taking out a 30 year fixed mortgage you decide to take out another ARM. You can see the pattern right. You will end up spending 40 years of your paycheck for your mortgage. According to the latest statistics it is not uncommon for you to make a payment for 47 years. You see it is not your fault. The banks don't fully disclose the total time and cost of an ARM when you close on your home. So here is where it gets really interesting. Let's assume that you take 35 years to pay off the $200,000 mortgage. The Repayments over 30 year mortgage is $455,090. The total repayment over 35 years for the same mortgage is $530,938. If you extend your mortgage 5 years by taking out an ARM you end up spending over $75,848. I know you may be thinking to yourself right now that your repayment and interest rate on the ARM is lower than a 30 year mortgage. What you fail to realize it that though the interest rate and your monthly repayments are slightly lower the banks make up for it by charging you interest for a longer period of time. Let's face it, there is a reason they have designed the ARM and in the long run it will cost you more. There are ways to still use an ARM and still be ahead of the bank and pay off your mortgage sooner. Imagine what you can do with that kind of money in your own pocket. It is easy to get trapped into an ARM thinking that it is only a 3, 5 or 7 year mortgage. The reality is very different. If you have an ARM go directly to EquityExcel. Find out for yourself the impact it has on your paycheck each month and the mortgage accelerator calculator will reveal simple steps you can take that will help you to still pay this off faster without spending more or refinancing. This information will put more cash in your pocket.

Have you heard the term "hard money," but you're not sure what it means? Perhaps you know what it is, but you're unsure where to find it. Hard money is financial backing from private investors in the form of a loan.