How to Consolidate

Hi L.!

I am sorry you are going through this. But I do have a question about your mortgage company. How did you get the principal lowered? We are going through similar problems and want to stay in home but our house is not worth what we paid. It is so frustrating the banks won't help. How did you do it? I know this is not the question you were asking but If you could help us, I would just love you for it. My email address is ____@____.com

D.

The main thing you need to know is DO NOT PAY ANYONE to help you with this. Consumer Credit Couseling is a non-profit organization that is fantastic that all credit card companies work with. They can help you come up with a monthly payment to pay all of you debt and they will contact your creditors. Their services are free. They will help you reduce your monthly minimums,
Regarding your mortgage, most banks will require you use a service like Consumer Credit Counseling before they modify your loan.
The companies that are advertising on the radio that they can help you will charge hundreds or even thousands of dollars. They say they can do more and better than you can yourself because they have attorneys that work with them. I have not found ANYONE that this has worked for. I know more people than I can count that have contacted their own banks and had a modification done.
Bottom line.....don't pay anyone to help you, you can do it yourself.
Good luck! If you have questions feel free to email me.

we used 'take charge america'- a free service for az residence but that was a couple of years ago. they only charged maybe $5 to have it taken out of my account every month. if I sent in payments it would have ben totally free but I didn't want to chance them being late. don't pay anyone for this service. they were so helpful and helped my credit. good luck. sorry no caps- holding my baby.

I work in Realestate and run into this alot.
Mortgage companies will not help in a modification if you are managing your bills.I suggest that you contact a good lender (other than a bank)and get their advice. I have some good ones if you need a name.

L. ~

There's a reason they are called CONsolidations. If you're looking for a common sense way to handle overwhelming debt, you won't find better than Dave Ramsey. Go to daveramsey.com. Also, if you're looking for a coach that helps based on Dave's principles, my husband loves to help and there's no charge involved. ____@____.com

I wish you the very best, L.. I know how hard this is.

~ R.