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DC Mortgage News Digest Mortgage Professional Newsletter
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Understanding Debt Management Debt management services can help you do things that are difficult to achieve on your own. They contact creditors and arrange repayment plans and, in most cases, get you a much better interest rate on your existing balances. This means your future repayments go towards paying down the balance, not fattening the lender's balance sheet. One Story "When the financial markets crashed, my credit card companies shut down outstanding lines of credit. Suddenly, I looked like a terrible risk because, instead of having $200,000 in available credit with a $38,000 balance it looked like I had $38,000 in available credit which was all fully drawn. Interest rates shot up. In some cases, I no longer qualified for the promotional rates I initially got. I had never had a late payment in my life, and I was now receiving demand letters and interest rates in excess of 34% on one account. "I tried to negotiate on my own behalf and got nowhere for almost a year and a half. The banks kept telling me I had to contact a debt management firm, which I finally did. Miraculously, the banks agreed to the debt management firm's proposal. My credit card rates went down to between 0 and 8.9%, allowing me to quickly pay off the balances. I learned a valuable lesson about credit card debt, and can now recommend a great company to work with." The company I recommend is DebtWave Credit Counseling, Inc.
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Agent Outreach - Build your business through refinances - Bethesda Mortgage News - Commercial Loans - Self-Employed Home Financing Specialty - Recommended Providers of Local Services Rockville Mortgage News - Investment Property Financing - "Show and Sell" - Open House Financing Alternatives for Listings Attorneys - Serving the special needs of the legal community - Serving Accountants - Solutions for CPAs "Apply B4 U Buy" - Pre-Approval Services - Helpful tools for fast mortgage closings - Debt Management - The Key to Great Rates in the Future - Credit Cards - Merchant - Mortgage Training Calendar - Virtual In-Person Applications - High Touch, High Tech |
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