My Loans Consolidated

Why? You may think. Why would any government wipe off a whole group of middle class people of the nation? To make sure that the ultra rich and their companies have enough supply of workers who are in constant need of money and have no choice then to comply with whatever requirements these companies are asking for… for the sake of survival. You think this reason is full of crap?

Let me show you what Alan Greenspan said in one of his interviews. He explained that the wages of skilled labor in the United States is so high that the best way to for the economy is to suppress their wages in comparison to the labor with lesser skills. His exact words were…

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Ever since Obama ran for office I have been accused of being negative. Sure, I’m only human, and when my fellow Americans get excited, I usually go with that flow. But hearing about Obama’s “vision” for the future, I couldn’t help but realize that the math just didn’t add up.

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Although the news media is beating the drums of good news once again that the US home prices rose 2.9% in the second quarter of 2009, many economists believe that it is way too early to call a turnaround for the housing market. The reason being is that the number of homes that are worth less than their mortgages has ballooned. This has threatened the economic recovery.

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Although many claim that the US recovery has begun, there is still fear among economists and forecasters that what seems to be a recovery, is actually only a deceiving break from the recession before an even greater storm. The reason for the fear is the fact that the temporary economic boost that we are currently witnessing is actually triggered by the $1trillion of government bailout money to financial institutions and the stimulus package. Unlike the steady drumbeat of good news sounded by the media like the Wall Street Journal (“The Economy Has Hit Bottom“) and Newsweek (“The Recession is Over“), economists and forecasters fear that the US economy is on the verge of a double dip second recession which most likely will be longer and deeper.

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Currently in the United States, there are millions of people owing money while the financial crisis continues to worsen. Everybody has a common goal which is debt reduction and this situation has encouraged debt elimination scams to grow.

These debt elimination scams are taking advantage from the victims of this financial crisis in this current economical state. They come and approach you, pretending to offer you a solution to reduce your debt but are really using tactics and trap you. The common tactics that these debt elimination scammers are using are below:

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Knowing what question you have to ask in order to find, interview and choose the right financial advisor for you is a very critical key. It is very important to choose the right one because otherwise it may lead to a disastrous financial consequence for you and your family.

Financial firms have an enormous marketing budget to create emotionally provocative marketing campaigns with flashy signs on buildings, striking logos and catchy slogans. They place advertisement on popular trade magazines, TV and radio and give their sales people a fancy label such as “Financial Consultant” or “Vice President of Investments”. The truth is, the flashy signs and fancy labels does not mean anything.

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The US economy, according to Paul Krugman (liberal pundit) and Payl Ryan (conservative Republican congressman), is on a fundamental threat as the federal debt is increasing rapidly due to the stimulus driven bulge in federal deficit. In the next few years the level of debt will keep rising and building the burden even more to an unsustainable and catastrophic level. Although Krugman still strongly supports Obama’s spending plans, he admits that the long-term outlook of this remains worrying.

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If your debt is now becoming more and more difficult to pay off and you are even struggling to pay the minimum every month, what you need to do is to try and settle your debt. Debt settlement means negotiating with creditors or collection agencies to have them reduce your debt amount by 40-60 percent or even more if possible.

Before you pick up the phone to negotiate your debt, make sure you follow these steps first.

1. Calculate your total debt amount.
2. Analyze the type and age of your debt accounts.
3. Get a copy of your credit report from the credit bureaus and analyze it. Check out Sample Credit Reports from the 3 bureaus.
4. Look through your credit report and find out if your account is still with the creditor or turned over to a collection agency.

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There are many benefits that you can reap from mortgage refinancing. But it only takes just a little lapse of judgement and you could make a very costly mistake by placing your family’s home at risk. I have listed 5 costly mistakes that people may make when refinancing their mortgage:

#1: Interest rate not locked-in

Remember that interest rates are very unstable. While your loan is being processed, your rate can change a few times. The moment you find an interest rate that satisfies you, ask your lender to lock it in, otherwise you might be given a different rate from what you have expected in the beginning. Have your lending put it in writing and when the loan processing is done, confirm it. Usually, lenders will not lock in your interest rate unless you request it.

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