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Divorce sucks. Let
me tell you, after five years of marriage for me
it is devastating to have the person with the
good credit move out."
--Rich Vos, comedian
Quotes from all previous newsletters |
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IN THIS ISSUE #147 |
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Publisher:
Scott Bilker |
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Editor:
Larissa S. Bilker |
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Assistant
Editor: Denise Troy |
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ISSN
1538-6740 |
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Nationwide, the
subprime home loan market grew from $35 billion
to $665 billion from 1994 to 2005. In that same
period, the subprime share of total mortgage
originations climbed from 10 percent to 23
percent. |
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Credit Secrets Bible |
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Raise your credit score! Learn how
to fight back against those who are making your life
difficult--and holding you back! |
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Letter from the Publisher
by Scott Bilker
Hi,
DebtSmart has been in the media quite a
bit lately. I've been interviewed on many topics, but in this issue, I'm
going to focus on mortgages.
On 3/17/07, I was on Your Home--Your
Money with Bill Quigley. We talked about many topics on credit as
well as subprime mortgages, ARMs, and the future of mortgages. You can
listen to the entire interview
here.
Something else that I ran across this
week is a service that I wasn't aware of. That is, mortgage audits. I
asked the president of
Loantech to submit an article about the subject for this issue
of the email newsletter. In a nutshell, it may be possible that mortgage
banks are overcharging you for your mortgage! Gee, I'm so surprised--you
know that if there were an error in their favor they'd never let you
know!
Best,
Scott
PS: I received the below comments this past week from a reader. They
didn't identify themselves, but I'm glad they sent the comments. They did
make my day, so I wanted to share them with you...
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"I must say also that your website has lifted a weight off my
shoulders--a friend's (yes, really, a friend's) credit card debt and
subsequent depression has been weighing heavily on my mind as well. I
ordered your 3 books just now and will read them carefully and hope to
help him get through this. Thank you!"
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Effects of debt on obtaining a mortgage
by Scott BilkerScott,
I was wondering about what sorts of
ramifications my credit will have on my obtaining a mortgage in the
future? Here is the situation: while in college I got myself into credit
card debt (about $6,000). After college I married a debt-free man (no
student loans, one credit card, great investments). Over the last 1 1/2
years we have paid my debt down considerably (currently I owe about
$2,000, each card is at about $500). One of them was charged off, the
other 3 were closed by the credit issuer.
Though my credit report is looking
better, I would like to know how this will impact our obtaining a
mortgage (not in the too near future--I'm 25, he's 27). We feel we'll be
ready to purchase a home in the next 7-10 years. I'm very concerned
about my credit rating inhibiting him.
Darlene
Finish Reading Article
"That's $100.00 a month savings!"
Rush Kittle read Talk Your Way Out of
Credit Card Debt and was easily able to save money! His story was
recently reported on CBS News in Austin, TX.
Click
here or on the above photo to watch the video and read the story.
Read about special offer for all three of Scott Bilker's best-selling books
Biweekly Mortgages: A Reader's Personal Story
by Scott Bilker
Scott,
Thanks for your informative article on
Biweekly mortgages. It really helped to open my eyes when I was
considering one.
Isn't this practice illegal? Seems like
the marketing materials that I received are misleading and deceptive. Do
you have any recommendations on what I can do to help stop this
practice?
Kevin
Finish reading article
Household Math™: Early Mortgage Payoff
by Scott
BilkerAssume a person is buying a
$150,000 home at a rate of 7% interest on a 30-year loan, with the usual
20% down payment (so the loan would be $120,000). This person also has
$20,000 in cash reserves. In which of these two scenarios would this
person end up paying less money over the course of the loan?
Answer this problem
Stop Debt Collectors Cold!
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Stop Debt Collectors Cold! Plus, for a
limited time, 4 bonus reports: |
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--> How to Get Collection
Accounts Off Your Credit Report |
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--> How to Avoid Losing Your Home
In A Foreclosure |
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--> What to Do if You Are Behind
on Your Car Payments |
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--> Confidential Interview With A
Former Debt Collector |
Read about stopping debt collectors
Mortgage company overcharges Denver man $38,000
by David I.
GinsburgJ.P. had been paying his
mortgage on time for 15 years. In all that time, he never thought for one
moment that there was a problem with the payments. J.P., like many people,
simply assumed that the bank knew how to do the math. He also assumed
that the bank valued his patronage. Little did he know that he was
overpaying the bank thousands of dollars!
You can be sure that if he was
underpaying the bank, they'd find that mistake. But when it comes to
mistakes in the bank's favor, you can bet that you won't be receiving any
letters. Luckily for J.P., he was able to recover his money--a refund of
$38,000--after getting a mortgage audit. Not surprisingly, banks don't
tell people about this important service for consumers.
Finish Reading Article
More credit, more options!
Credit options are your weapon
against the banks! The key to success is using your credit lines
to save money--not to go crazy spending!
Credit Secrets Bible
by The
Consumer Publishing GroupThe Credit Secrets Bible contains
more step-by-step, easy-to-learn, easy-to-use insider consumer credit
secrets than any other home study course on the market. In fact, the
information in the Credit Secrets Bible is so powerful, we have to
disclose to you upfront that it is sold for informational purposes only.
If you don't already know, I'll be the
first to tell you... banks, finance companies, bill collectors and
credit card companies are some of the BIGGEST crooks in the world. If
you don't know the secrets contained in the Credit Secrets Bible,
you will pay tens of thousands of hard-earned dollars in extra bills,
interest and fees, etc. Your money will be wasted (down the drain) for no
reason other than you don't own the Credit Secrets Bible home study
course.
Banks and other institutions who take
your money, ruin your credit or deny you the money you need are very
powerful. They make a business out of hurting people like you to make
more money for themselves. And, the more they hurt you financially, the
more powerful they become. But they won't be able to hurt you anymore!
With the Credit Secrets Bible, I'll show you how to stop them dead
in their tracks!
Read more
about The Credit Secrets Bible...
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DISCLAIMER
The author(s),
Press One Publishing, and DebtSmart.com
shall have neither liability nor
responsibility to any person or entity
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caused, or alleged to be caused,
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information contained in this email
newsletter and/or at the DebtSmart.com
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typographical, mathematical, or in
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Copyright ©2007 Press One Publishing. All rights
reserved. Please do not reprint, or host on your web site, without explicit
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