Debt Management Program Content Index - Page 1

If you have a lot of debt, you may want to enroll in a debt management program. The best debt management programs are run by non profit groups such as CCCS of Greater Atlanta or the National Foundation for Credit Counseling. Watch out for debt management programs that ask you to pay an upfront fee. Learn more about debt management programs here.

Ilyce Glink Show Notes - November 15, 2009. Today on the show, we discussed the new Fannie Mae Deed For Lease Program in Detail; the new CreditKarma Survey on credit card debt; The October 2009 Realty Trac Foreclosure survey; Divorce and Mortgages; Mike Rose, a senior loan officer with Bank of America, came on to talk about some of the new mortgage rules with regard to divorce and FHA; Peggy Abkemeier, President of Rent.com discussed a new survey of investment property owners. NEW EBOOKS ON INVESTING IN REAL ESTATE; EBOOK SPECIAL.

Debt overload or overboard? A small business owner is facing off with the recession. On one hand, he has to refinance his debt to stay afloat. On the other hand, navigating the complicated waters of small business loans has him confused. A miracle phone call seems to answer all of his needs and provide him with the money he needs to retain his employees. How can you find out if an offer is a scam or if it can truly help save your business?

A debt management plan can help someone whose credit history and credit score have likely already suffered either because their debt-to-credit limits are out of whack or because they have started to pay some of their bills late. As personal finance advice goes, a debt management program can help you improve your credit history and credit score by helping to encourage you to pay their bills on time and in full. However, some debt management programs are really scams and they will take your money instead of helping you pay your bills. Look for a reputable credit counseling service provider.

HUD announced a new loan modification program for FHA borrowers that will help FHA borrowers who are having trouble making their mortgage payments by creating a second interest-free loan for up to 30 percent of the loan amount. New monthly payments will be amortized on the remaining portion of the loan balance, which should lower monthly costs for homeowners. The second, interest-free loan does not have to be repaid until the primary loan is paid off.

Today on the Ilyce Glink Show, Ilyce talked about the minimum wage increase (and who to call to find out whether you qualify), the stock market surge, cash for clunkers scams to avoid, $8,000 federal tax credit, Georgia State Tax Credit, and the DeKalb Down Payment Assistance Programs. She also took questions from callers like Tom who is upside down on his mortgage and needs to put a lot of money into his house to make it liveable. Ilyce says he may be able to try a short sale, but if he has any assets, his lender may be able to claim his assets to make up for what he owes on the house. Ilyce suggested talking to a lawyer or tax advisor to plan the best course. Another caller said that she's been able to hire contractors and get home repairs done for very low prices, since so many contractors are looking for work right now. For a caller who is struggling to get back on his feet after 2 years of unemployment and $25,000 in debt, Ilyce recommends meeting with the CCCS of Greater Atlanta for a budgeting and counseling session. Listen to answers to these questions and more on the podcast and go to [Ilyce's blog for more show notes and helpful links.](http://www.thinkglink.com/blog/2009/07/26/today-on-the-ilyce-glink-show-july-26-2009)

In its 2008 survey of mortgage fraud, the FBI concluded there is a strong correlation between mortgage fraud and distressed real estate markets. Indeed, some of the states with the highest levels of mortgage fraud also had the highest levels of foreclosures. But new mortgage fraud scams emerged in 2008 that tested the abilities of the FBI to contain them. Here is a look at the newest mortgage fraud scams.

Hard to believe it's almost Memorial Day. Today on the Ilyce Glink Show, I announced that I'll be filling in for Clark Howard on Friday and Memorial Day Monday in addition to another live show next Sunday. I hope you can tune in.

Meanwhile, we had a great show today. Here are some of the highlights…

Statement from U.S. Treasury Secretary Timothy Geithner:

This afternoon, the Federal Reserve and the national banking agencies released the results of the stress tests - the most comprehensive, forward looking review of our nation's largest banks ever undertaken. These tests will help ensure that…

Here's the updated FAQ from the White House on the Modification program under the new Making Home Affordable program. For more information, check out MakingHomeAffordable.gov.

HOME AFFORDABLE MODIFICATIONS

Q: Can Making Home Affordable help me if my loan is not owned or securitized by Fannie Mae or…

Selling a home is complicated. There are many issues to deal with when selling a home, some common and others not. Here are some obstacles sellers face when selling their home, along with solutions.