Remove Debt Consolidation Remove Foreclosure Remove Lender Remove Student Loans
article thumbnail

Debt After Death: 9 Things You Need to Know

Credit Corp

If beneficiaries can’t or won’t assume the loan, they can sell the property to settle the debt instead. If your loved one doesn’t have any beneficiaries listed on their will when they die, their mortgaged property may go into foreclosure. At that point, their bank will sell the property to recover the mortgage debt.

article thumbnail

Paying Bills Later: Considering Financial Consequences of Delayed Payments Due to COVID-19

Titan Consulting

Suspending rent payments die to COVID-19 may put you at risk for foreclosure if you can’t make up your deferred payments all at once. Deferring your auto payments may put you at risk for repossession if your lender requires you to catchup and make all deferred payments at the end of the deferral period.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Should You File for Bankruptcy if a Strong Economy is Just Around the Corner

Titan Consulting

Bankruptcy does not generally discharge debts associated with child support, alimony, tax obligations, or student loan debt. At your request, lenders must grant a forbearance for up to 180 days, renewable for up to a year with a hardship attestation. Strategies to Delay or Eliminate the Need to File Bankruptcy.

article thumbnail

620 Credit Score

Better Credit Blog

Others are on the path to repairing their credit, as it takes time to recover from more severe credit occurrences like bankruptcy , foreclosures , or judgments. A 620 is right on the border of the credit requirements for some loans, such as a conventional mortgage. FHA loan 500 with 10% downpayment, 580 with 3.5% downpayment.

article thumbnail

We’re Debt Free [And How You Can Do It]

Credit Corp

The average American builds credit by opening a credit card account, acquiring student loan debt, or making car payments. Many people also live paycheck to paycheck , making it difficult to avoid applying for loans if they urgently need money. My Debt-Free Life Started Late in My Adult Life.