Freedom From Debt

How do you go about consolidating PRIVATE student loan debt with a home mortgage?

admin — Sun, 22 Nov 2009 19:37:44 +0000

Boston Tenor asked:

We are looking for a home about $150,000 and we have about $70,000 in Private student loan debt at 7%.

Mail this post

Technorati Tags: Home Mortgage, Private Loan, Student Debt

If I put all of my student loan debt on a credit card, could I cancel this out by declaring bankruptcy?

admin — Wed, 18 Nov 2009 09:47:43 +0000

migueljuan asked:

I currently owe $45,000 in student loans and I am having a hard time paying them off. The loans are private (sallie mae) and I am not elligible for consolidating them via federal loans since I am not a US citizen. I was not able to get a visa so I had to leave the US. I live in Europe now.

I understand that declaring bankruptcy would not cancel out the student loans, but I have read that bankruptcy could cancel out credit card debt. I have a good credit score (790), so given some time, with an even higher credit score, I may be able to transfer my loans to a few credit cards.

What are the laws regarding credit card debt and bankruptcy? What difference does it make that I am not a US citizen and do not live in the US?

Mail this post

Technorati Tags: Bankruptcy Credit, Credit Card Debt, Credit Debt

What happens when you marry someone with extensive student loan debt?

admin — Thu, 12 Nov 2009 15:23:27 +0000

belle asked:

Does that become your responsibility as well? I am assuming so, but I have heard conflicting stories on student loan debt, so if anyone could clear up my confusion…

Mail this post

Technorati Tags: Confusion, Student Debt, Vehicle Debt

A Mortgage Broker Could Help You Find a Better Mortgage

admin — Tue, 10 Nov 2009 11:40:00 +0000

Finding the best loan offer will give you the best rates and better terms on the mortgage. Mortgage brokers are a third party that matches borrowers with lenders for a commission. Mortgage brokers typically have contacts with a variety of different types of mortgage lenders and can often find loan offers tailored to your financial situation that you might not find on your own. If you are a borrower with special needs, such as a homeowner with poor credit, a mortgage broker could be your only option for securing a competitive mortgage loan.

Mortgage brokers come in two flavors. There are traditional brokers regulated by RESPA legislation, and Broker-Banks that are not subject to disclosure laws under the Real Estate Settlement and Procedures Act. It is difficult to distinguish a mortgage broker from a broker bank. Broker-Banks are a particularly evil variety of mortgage lender that does not have to disclose any of the fees they overcharge you for you home loan. Mortgage brokers operate the same scams; however, they are required to disclose under RESPA. Here’s how their scams work.

for more info visit our website at www. madalcapital.com

we also do all type of hard money loans

Mail this post

Technorati Tags: hard money loans, Mortgage brokers

Will all this student loan debt ruin the economy?

admin — Wed, 04 Nov 2009 14:29:12 +0000

Louie V asked:

with tuitions being higher needs for laptops, cell phones, room and board etc, and commercial everywhere for private loans. Will the working class of tommorow not have enough disposable income because of all the student debt to keep the economy moving.

Mail this post

Technorati Tags: Private Loans, Student Debt, Tuitions

Can you get an apartment if you have student loan debt?

admin — Mon, 19 Oct 2009 18:12:56 +0000

gurlygurl20000 asked:

Okay so it’s impossible to get an apt., house, or car with existing debt, does this also include student loan debt?

Mail this post

Technorati Tags: Apartment Loan, Student Debt, Vehicle Debt

Is there a way to factor in student loan debt on a FAFSA?

admin — Sat, 17 Oct 2009 00:18:35 +0000

antheia asked:

I took out a $17,000 student loan last year because I have failed to qualify for any financial aid. Again, this year, I was turned down again, but I didn’t factor that $17,000 in anywhere. Would that money change anything? If so, where exactly on the application can I put that I am in debt that amount?

Mail this post

Technorati Tags: Money Change, Student Debt, Vehicle Debt

Pay off huge student loan debt vs save for down payment?

admin — Sat, 26 Sep 2009 21:22:19 +0000

C W asked:

I will graduate in December with about $100K in student loans. Would like to buy my first home in the next 2 years. My projected gross income is $85K. Should I save for down payment? Pay a big chunk of student loans? A little of both? I have zero credit card debt and no car payment. Thanks in advance!

Mail this post

Technorati Tags: 100k, Chunk, Student Debt

Will $100K in student loan debt be a problem in finding a job?

admin — Fri, 25 Sep 2009 05:47:45 +0000

dukiduke asked:

I’m going to graduate from college with about $100,000 in student loan debt, and with companies checking prospective employees’ credit before they hire them, how much of an issue is that going to be?
I still have a good credit score (~690-720) and no credit card debt or car loans and never had any late payments.

Mail this post

Technorati Tags: Car Loans, Finding A Job, Late Payments

credit card debt, last paid 3 years ago, now bank is requesting payment, what is prescription time?

admin — Wed, 23 Sep 2009 11:31:43 +0000

Gerda J asked:

finance problems, non payment of outstanding debt on credit card for 3 years plus, what are my rights is there a prescription period for debt as financially i am still unable to make te payments, and bank is demanding payment. Should i liaise with them and discuss my financial position or where do i stand, can they legally still sue me after this period, as they have only just contacted me after three years of non contact?

Mail this post

Technorati Tags: 3 Years, Credit Card Debt, Credit Debt, Finance Problems, Financial Position