Subprime Mortgage Explained

Everyone knows that subprime mortgage crisis was the root cause of the economic downturn. It’s true in some aspect. The subprime mortgage crisis was triggered with the skipping of the mortgage payment and also the rise in the foreclosure. But the true picture that gives rise to this situation is still under veil. The mountainous greed of earning large commission by providing mortgage to the borrowers without verifying their economic status is the top reason behind this mortgage crisis.The video will tell you in a animated way which is entertaining and at the same time open our eyes.

Reason for Loan Modification

We all know loan modification. Many of us are also applying for the loan modification. But very few clearly understand why they are applying for loan modification. They only know a loan modification will make some changes in the loan terms (without the refinancing). There are some more benefits also from loan modification. In the new modified version of the loan, the loan terms are reshuffled to suit your current needs and financial obligations. Here I am trying to suggest some benefits of the loan modification.

1. This can be used to take interest rate down.
2. This can save you from making high payments.
3. You can move the ARM (Adjustable rate mortgage) to fixed rate
4. You can increase the loan term
5. This can make your principal balance less.
6. For getting help regarding the penalties for missed payment and late fees
7. To stop the home foreclosure.
8. This can be helpful during financial problem.
9. To make the insurance payment and property taxes as per current rule.
10. Free yourself from negative amortization loan.

In today’s bad economy every homeowner can ask their lender for loan modification to get some respite from the loan payment irrespective their situation (in fear of foreclosure or not). Many homeowners shy away from it in fear of bargaining with the lender. But they must not be afraid of the negotiation as the lenders always have to follow some guidelines during negotiation and they can’t deny your claim. This way you can save many dollars for your future needs also.

Real Estate - Stratagies to Success

Here is a video that tells you how to be successful in the real estate field. In this situation when the economy is very lean and under the black magic of recession, these tips will surely help you to get success in real estate sector investment. Hope this will help you to have a great financial life.

Identity Theft

5 Recession Proof Jobs in the World

Every thing is affected by the dark recession and our economy is weaker than ever. Everyone is tensed over their job as the companies are giving pink slip as a measure for cost cutting. In US the working force is feeling the pressure of these.

I want to mention 5 recession proof jobs that will not steal away the employee’s sleep.

1. Debt Management Specialist :

Debt Management Specialists help the people regarding their debt related problems. The debt managers normally work to make client out of their financial problem. The professional debt management specialist works on client’s pending debt and suggests the way out from the situation. After their service they can charge money for the service. In most of the debt management firms, the debt management specialist works on commission basis and some other also offer fixed salary too. In this recession market when people are being buried under the burden of debt, Debt Management Specialist job is also showing great prospect

2. Career Coach:

Job of Career Coach is another available and lucrative job in this recession market. Not only in the US but in every corner of the world always there are plenty of people available who are looking for a job, so being a career coach always remain very profitable. Especially in this time of recession and pink slip age unemployed people will search you out to help them getting the right training.

3. Construction Worker:

Different construction workers like carpenters, tradesmen, plumbers, electricians etc. always find themselves in demand. People always need them for repairing and people cannot do these by themselves. Demand for these workers will never go down.

4. Auctioneer:

Very few people know about the next job. You can find no discussion on tv, newspaper or anywhere about the job. The next job is the job of an auctioneer. The Auctioneer assists the people by auctioning items like crafts, jewelry, house, etc. This profession will always remain far away from the effect of recession because the government or the bank always has to auction items to get their money back. In this age of bankruptcy the Auctioneers are also getting more scope for income.

5. Debt Collector:

The last recession proof job is not at all a satisfying one. It’s the job of a debt collector because the collector has to contact the defaulted people and collect the money. This job too is not going to die as long as the people find themselves under the burden of debt.