When used like a debit card, credit cards often don't cause any problems. You just spend less than you earn and pay it off at the end of the month, rather than taking money out at the time of each purchase, as you do with a debit card. It's the same general principle.
What exactly is a loan modification?
Individuals who are having difficulty paying their mortgage often think that they have no options but to let their home go. This isn't the case though. The process that lenders have to go through to foreclose on your home is quite expensive and involved. This often motivates them to want to try to work with you to help you stay in your home. A loan modification may be an ideal option for you to pursue to get back on track with making timely mortgage payments once again.
What is the CARD Act of 2009?
The Credit Card Accountability Responsibility and Disclosure Act (CARD Act) was made a law by the United States Congress in 2009. At the time, it aimed to reduce creditors' abusive or deceptive practices. The Consumer Financial Protection Bureau (CFPB) enforces this law.
What is a forced sale and what can I do to avoid it?
If you've fallen behind on your mortgage, then you may have heard your lender tell you that a forced sale is impending. You may wonder what exactly that entails.
