How to Legally Remove a Bankruptcy From Your Credit Report By Patrick Zanders

If it was not so sad, it would be incredibly funny. With all of the information that is available today, people still allow poor credit to disrupt their lives. I find this most often when it comes to bankruptcies on credit reports. Isn't it bad enough that people had to file bankruptcy? I guess the credit bureaus don't think so. They want to make these same folks believe that they have to suffer for 10 freakin years with this on their credit files too. This is an outrage!

To make matters even worse, there are all kinds of self proclaimed "guru" authors that are writing garbage stating that it is dishonest to try and have a bankruptcy removed from your credit report. If that is dishonest, what would you call a non governmental agency like the bureaus wrongfully holding your credit hostage for 10 years? Hmmm....Let's call that down right criminal shall we?

Here is the skinny on bankruptcies. It truly would be illegal if you had it just wiped away using e-oscar, metro 2 or any other software that hackers and scammers are using. If you used the actual laws on the books though, you would LEGALLY REMOVE THAT BK PERMANENTLY! Let me explain further what I mean.

The only way to make that BK disappear from your file is to prove that it does not belong there. I did NOT say that you are going to try and prove that it is not yours....Nope, it is yours. You hired an attorney, signed papers, and went before a judge...IT IS YOURS! What you ARE doing is disputing the bureaus right to place this on your credit report..Doing this would have your BK removed right away!

So before you let your credit report keep you down for 10 years...Get to work and get it removed!

Patrick Zanders is available for consultation on credit matters including removing bankruptcies from your credit reports. He can be reached at 623-255-6023

Article Source: http://EzineArticles.com/?expert=Patrick_Zanders

Write Off Credit Card and Loan Debt - The Consumer Credit Act 1974 By Kerry Jonas

The Government introduced The Consumer Credit Act 1974 (The Act) in to Law, to provide people with specific Consumer rights and to protect them from Lenders. The Act sets out very strict guidelines for the content and format of all Credit Cards, Loans and other Financial Agreements, that must be followed by all Lenders in this Country. Write Off Debt under the Consumer Credit Act.

Government Legislation in the form of The 'Act' states that if a Lender provides Credit using a written Agreement that does not fully comply with certain Conditions of the Act, it becomes an unenforceable Credit Agreement. Therefore the borrower will not need to repay the outstanding balance and may be entitled to a refund of payments and compensation.

The Consumer Credit Act and other Government Legislation, explicitly detail the exact content and format a Credit Agreement must use if a Credit Agreement is not to become an unenforceable Agreement. However, because of changing legislation and Legal new presidents, Lenders regularly change the content of the Credit Agreements they use.

Solicitors have now discovered that over the years, some of the many often inexperienced people used by the Lenders to draft or amend their Credit Agreements have made errors by failing to include all of the content required, in the exact format required by Consumer Credit Act Law.

This area of Consumer Credit Law is relatively complex, however in simple terms some of the areas which can make Credit Agreements become unenforceable Credit Agreements include:

NON PROVISION OF PRESCRIBED TERMS

The Lender did not include in the Agreement all of the information they were required to provide, in breach The Consumer Credit Act.

INAPPROPRIATE EXECUTION OF AGREEMENT

The Lender did not provide an Agreement in the format allowing correct execution, in breach of The Act.

MISCALCULATION OF APR's or THE TOTAL AMOUNT REPAYABLE

The Lender did not use the correct method to calculate the Interest Rate or the Total Amount Repayable, in breach of The Act.

NON PROVISION OF RELEVANT DOCUMENTATION POST AGREEMENT

The Lender is unable or unwilling to provide copies of the original signed Agreement and supplementary documentation, in breach of The Act.

NON DISCLOSURE OF COMMISSIONS OR FEES

The Lender did not disclose all of the commissions and fees they paid or received in connection with the Agreement, in breach of The Act.

MIS-SELLING OF ANCILLARY PRODUCTS

The Lender inappropriately included an ancillary product with the Credit Agreement, in breach of The Financial Services and Markets Act 2000.

If you use Solicitors to arrange for your Lender to write off your unenforceable Credit Agreement, you will not need to know which aspects of the Law your Lender has broken, Solicitors will deal with these matters.

Visit http://www.CreditIssuesUK.co.uk - Write Off Credit Card and Loan Debt with the Consumer Credit Act and take the 2 minute test to find out if your credit agreements qualify.

Article Source: http://EzineArticles.com/?expert=Kerry_Jonas

Can You Really Pay to Repair a Bad Credit Score? by James Copper

You have probably seen commercials at one time or another that offer to eliminate your bad credit score. Usually they require that you pay a hefty sum of money before they begin eliminating the problem. They may promise to raise your score in as little as 30 days and have you qualified for the loan of your dreams. But, can anyone really wipe out a bad credit score?

Well, you cannot pay someone to magically eliminate your credit score for you. Many people have found out the hard way that these companies are just a scam. These companies will request money even before they have looked at your credit report. These types of companies may try to persuade you to create a new credit identity. This is actually illegal and while your bad credit will be erased, you will more than likely find yourself spending time in prison or paying back a hefty fine.

The bottom line is that no one can wave a wand and erase your bad credit score. If you want that number erased, then you are going to have to do some work yourself to improve your credit score. Some things that you can do to improve your score are as followed. It may be hard work, but it is something you should certainly try to do to better your credit.

Look for inaccuracies in your credit report. It doesn't take a whole lot to send your credit score plummeting. If you find a problem in your credit report, immediately report it to the consumer reporting company. Make sure that you are not sending original documents, only copies. This is because any document you send them will not be returned. Be sure that each item in question is clearly identified so there will not be any confusion. Once your information is processed and the correct businesses are contacted, your credit score will then be investigated. If they do identify that there is a problem with the items in question, they will fix them or sometimes erase them from your report, but only if there is a problem. It is always recommended that you keep a copy of all the disputes that you may file.

Debt consolidation can greatly improve your credit score. If your credit score is lowering because you are unable to pay off debt and you are considering filing for bankruptcy, don't do it. Working with your credit company and consolidating your debt can have a major impact on your credit score. As a matter of fact, many companies see this as being more responsible than filing for bankruptcy. Debt consolidation basically lumps all of your unpaid bills into one monthly payment. This will make sure that everyone is getting money every time this payment is made.

Any company offering to erase your bad credit score is telling you a lie. They are either going to scam you or supply you with information that is freely available from consulting a credit counsellor. So, protect yourself and do you research before signing on with anything that seems shady.

James Copper is a writer for http://www.repossession-stopper.co.uk where you can find hints to prevent repossession

How to improve your credit score (Part 1 of 5) by Robert H

This will be a blog that is going to tell you in detail what you personally can do to improve your credit score. Each part will give you details on how you can repair your credit score and work to get it improved

Part One

Accuracy is the most important place to start with your credit report. You must take the time to go over every piece of information and make sure that it is reporting accurately. It seems that most people don't understand how information that is inaccurate can hurt your score, but it can. If you have dates being reported that are not accurate, it may hurt your score by reducing how long you have had your credit. Even dates are extremely important to be showing accurately.

Watch to make sure that if you made some late payments that they are being reported accurately. If you had an agreement with a creditor regarding a late payment and that it would not be reported, check to see if they are reporting the late payment. Dispute any information that is not reporting correctly.

Pay attention to any information that is doubled up. For example, if you had an account that was turned over to a collection agency, you want to make sure that the original account is showing that it has been charged off and given to a collection agency. Otherwise, it will show as two open accounts for collection and that will hurt your credit score more.

A collection account generally means that it is listed at least twice on your report. Sometimes that account gets passed or sold to other collection agencies and then it can be reported as many times as the new collection agency gets involved.

If your address is incorrect or other personal information is incorrect that should also be reviewed. Disputing personal information is good when it is inaccurate. Addresses that are reporting but you have never lived at could mean that you were a victim of identity theft. But it could mean that your account was just merged with another account. Take the time to make sure all of the information being reported is your information.

Make a list of information that is needing to be disputed. This will help you when you dispute or if you work with a credit repair company that is going to dispute for you. A Credit Repair company will only be able to dispute what you tell them to dispute. Credit Repair companies will use many different ways to dispute the information you tell them to dispute but you must tell a legitimate credit repair company what needs to be disputed.

Ovation Credit has your case file online and secure. Once you have accessed that information you will be able to advise your Case Advisor what needs to be disputed and why. This helps your case advisor know what strategy they want to use in the dispute. Once you have accessed your case file online, you can go to Dispute Manager and complete your disputes. Ovation Credit Repair have Case Advisors that can discuss and go over your disputes to make sure you are disputing everything that needs to be corrected.

So begin by working on your credit score by getting your credit report accurate.

Next - Late Payments

Ovation Credit Services offers personalized credit repair solutions for individuals seeking to rehabilitate their credit profiles. Founded by attorneys, Ovation has helped over twenty thousand people overcome bad credit.

How to improve your credit score (Part 2 of 5) by Robert H

Once you have your report accurate, then it is time to start working on what you can do to improve your credit score. Think of today as the first day of your "new" credit history. Start today by making sure you are doing everything you can to help your credit score. Make every payment on time and in full. This will help you because if you start today, then you basically won't have any negative information on your report after seven years if you can't fix anything. Only a bankruptcy can be reported longer than seven years so you should know that even if you can't change or fix anything, then seven years from today there could be no more negative reporting information.

Does that mean you will have a credit score above 700? No, because your credit score is based on many factors. The type of loan, length of loan and high balance will all have a factor in your credit score.

But here is the next part you can work on today to help your credit score.

Late payments

If you have late payments being reported to your credit report, then you should work to get them reduced or removed from your report. The older the information the easier it is to get removed from your report.

Talk with your creditor first, by talking with the creditor regarding late payment history that is old, you may just get them to remove that information from your report. Many times they will remove the information and ask that you dispute the information with the credit bureau. Then the creditor will update your information and hopefully take away your late payment history. This will help your credit score.

Now if you have late payment history and you talk with the creditor but they won't just remove it, ask them if they will re-age the account. If they receive payments on time, they might be willing to remove your late payment history. But it is important that you make sure that no matter what that those payments are made on time. If the creditor agrees to re-age your account (and they may only be willing to do it once) take care to make sure that you follow their instructions.

Some credit bureaus report for up to 48 months. This is what you should discuss with your creditor as if your late payment history is recent it will hurt your credit score more. Late payments over 1 year old are causing less damage than one payment that is showing late within 6 months.

So try to get your late payment history removed or reduced. Don't pay anything late as it really does hurt your score. Then work with your creditors to try and get your information updated so that you don't have any late payments.

Next - Collection Accounts

Ovation Credit Services offers personalized credit repair solutions for individuals seeking to rehabilitate their credit profiles. Founded by attorneys, Ovation has helped over twenty thousand people overcome bad credit.

How to improve your credit score (Part 3 of 5)

First you worked on getting your credit report accurate, and then you worked on your late payment history. If you have completed those things, then your credit score should have improved. Remember, you did not get a bad credit score over night so repairing your score won't be accomplished that quickly either.

Now it is time to start working on any collection accounts.

First, make a note of each account and compare it to the original account. Once a creditor turns the account over to a collection agency, they should be reporting that the account is charged off or closed. You would prefer to have them report it as closed but they have the right to report charged off or turned over to a collection agency.

Next, you should work to get them resolved. If you owe the money, then work a payoff with the collection agency and have them remove their information from the credit report. They are not required to remove the information when you have paid the account off, but it never hurts to ask for that in the negotiation. But when collection accounts have been paid and are now closed, it will help your credit score over the course of time. An open account keeps your positive information from overriding the negative if they are left open. But a closed account will stop doing any additional damage if it is closed.

If you have some very old accounts you may not want to dispute or investigate them. After seven years negative information will come off your credit report. But if you dispute or investigate a very old account they may update information and cause a change to the date it would drop off. Then you would be in a worse situation than if you had left the account alone. But again, with a very old account, you might be able to negotiate a removal if you were to pay the balance. The collection agency might see that you would be willing to pay off an old account if they remove the negative information but may not get anything if they don't. If the account is close to the seven year mark, then they are more willing to jump at the chance.

For the future, don't allow anything to go to a collection agency. If you talk with your creditors generally you can work out an agreement to keep it from going to collections. Then the only negative information being reported is from the original creditor. But if you allow things to go to collections, you get at least two negative things being reported, one from the original creditor and one from the collection agency.

Next - Judgments

Ovation Credit Services offers personalized credit repair solutions for individuals seeking to rehabilitate their credit profiles. Founded by attorneys, Ovation has helped over twenty thousand people overcome bad credit.

How to improve your credit score (Part 4 of 5)

Now you have got your credit report accurate, worked on late payments and have cleaned up your collection accounts. It is time for you to work on any Judgments that have been recorded to your credit report.

First of all, judgments are basically shown in two forms on your credit report. They are open or closed. Open judgments mean that they are actually in the process of collecting the money ordered by the court. A closed account means that they have collected the money and have closed the open judgment.

From a creditor's standpoint, you don't want to see either, but you want to see them closed if they exist at all. So the best option for you is to work to get these accounts closed. Working to get them paid off and completed will be your best bet in accomplishing this.

Now once the judgment is closed it will help your credit score and like other items will only be able to be reported for seven years. This means that eventually you will not have any judgments appearing on your credit report.

You might be able to negotiate a judgment if you have currently made arrangements to pay it over time by offering a lump sum. Don't offer it unless you have the ability to pay it immediately as the holders of the judgments want full payment. If you can you might be able to negotiate it from your credit report by making payment in full and ahead of schedule. But this is not often the case.

Finally, remember that a judgment can be disputed just like everything else on your credit report. If any information is inaccurate or misleading, please dispute it. Many courts don't have the time to fully investigate and that judgment might drop off your credit report. Dates and balances are often wrong due to partial payments or information being incorrectly reported to the credit bureau.

Next - Bankruptcies

Ovation Credit Services offers personalized credit repair solutions for individuals seeking to rehabilitate their credit profiles. Founded by attorneys, Ovation has helped over twenty thousand people overcome bad credit.

How to improve your credit score (Part 5 of 5)

Bankruptcies are generally the most difficult thing to work with on your credit report. But they are not impossible to clean up or get removed from your credit report.

If you have done everything in parts 1-4 you should have seen a jump in your credit score. Now you are preparing yourself to take on cleaning up a bankruptcy. First review the bankruptcy information that is being reported to the credit bureau. Make sure that everything is completely accurate. Because bankruptcies can be reported on your credit report for up to 10 years, depending on the type of bankruptcy that was filed. Generally, they report for seven years, but have the right to be there for up to 10 depending on circumstances. Talk with your attorney regarding this information.

But if you have a bankruptcy that has any information that is inaccurate, dispute it. Most of the information is generally inaccurate because it may have not been updated or had correct balance information. If the bankruptcy is very old (more than five years) you should review it even more closely due to information that never got updated over the course of time.

Many courts do not have the time to research bankruptcies and could fall off during the investigation, but you must make sure that these above everything else are reporting accurately. Any accounts that were included in the bankruptcy must show as closed or included in the bankruptcy. That will help an already damaged credit score because of the bankruptcy. If an account is not reporting as closed or included in the bankruptcy, then it is viewed as an account that was not involved in the bankruptcy and is hurting your score more.

So make sure that all of the accounts that were discharged in the bankruptcy are showing such. Then verify that the information they are reporting is completely accurate. Then review and check the information on the bankruptcy. Dispute any information that is inaccurate or misleading. Talk with your case advisor if you have any questions.

Bankruptcy damages the credit score badly, but with time the damage can be minimized. Think of starting fresh and don't get yourself into the financial trouble that caused you to file bankruptcy. Additionally, think about taking some money management courses to help you understand what mistakes you made and what you can do in the future.

Credit is about the future and cleaning up your past can help your future. Good Luck!

Ovation Credit Services offers personalized credit repair solutions for individuals seeking to rehabilitate their credit profiles. Founded by attorneys, Ovation has helped over twenty thousand people overcome bad credit.

Credit Score Needed - Buy a Home by Jessica Lamber

If you have a credit ranking in the range of 720-750 you will get a great interest rate and great overall loan. If you have a large down payment and a good credit history, then you will certainly get the best loan available!

For the rest of us, we will have to spend a little time working on our credit. These days a lender has to do a lot of investigating to see if you are a credible applicant to give a loan to. Lenders will probe your credit report for late payments, missed payments and judge you based on your debt to income ratio.

You could be approved for a loan with scores ranging from 620-650 but it will not look nice on paper. You will be at the banks mercy to pay large amounts in closing costs, extremely high interest rates and usually other fees as well.

Don't despair, there is simple things you can do to quickly put you in a better loan attaining position. First you will need to obtain a copy of your credit report. Check for any errors or old information to be deleted.

Next, you will want to determine out your debt to income ration since this is important information lenders look at. To fix it a little you can start paying off debts or try to earn more money. By increasing your pay and post it towards your balances you will be in a great position even faster.

Why is there such a huge difference with in the last few years in the housing market you ask? It is easy to see what went wrong and who is to blame for such an awful economy.

The American government gave full control and confidence to the banks for their lending capabilities. Lenders were greedy to make extra money that they massive loans to irresponsible and unqualified applicants.

It was simply way too easy to get quickly approved for a home loan back then. As long as you could provide a viable credit score lenders would make you an offer. All you had to do after that was decide how to decorate.

Today a lot of those people are struggling to repay their home loans. This in turn has created a huge collapse in our economy. Americans are not making payments and are finding themselves in a foreclosure or bankruptcy situation.

It extremely important to be aware of your credit situation before you apply for a home loan, especially in today's economic crisis. Don't settle for just a loan approval.

Take the time to improve your credit situation so you qualify for the best loan possible! Do your homework and you will be ecstatic with the money you will save.

For a free credit consultation call 1-866-246-7311. To learn how to remove a credit charge off or to learn how to remove bad credit from debt collectors such as LVNV Funding.

Does Obama Really Give You Free Grant Money? by John Kleine

In 2008, almost seven hundred billion dollars had been commissioned for government grant and dubbed “bailout money� to those suffering in financial crisis, in debt and in danger of losing one of their most valuable assets, their house.

This year, Obama is in the process of approving more than eight hundred billion dollars to assist these consumers in their quest to maintain financial health. There are billions of dollars available and millions of people that are living in the United States shouldn't you take financial responsibility and apply forone of these grants that can you to get on the path to a happier future? There are various types of government grants available, which range from:
* Government grants to assist homeowners facing foreclosure
* Education grants for those students asking for assistance while attending post secondary school * Debt repayment grants or debt relief grants which were created for consumers to repay debt and alleviate the stress that is placed on the finances by debt
* Personal grants which can be used at the discretion of the applicant
* Home improvement government grants which allow the homeowner to increase the equity in their home by completing home renovations
* Small business and home business government grants which allow homeowners to open a small business in their home up to fifty thousand dollars There are many benefits to these grant programs, these include:
* There have been no limits imposed on the amount of grant money that an individual can apply for. A householder can apply for a grant to repay the mortgage if they are in danger of facing foreclosure and then take advantage of grants offered to adults that wish to attend school and further their education
* Government grants are completely forgivable and do not require the repayment that comes with other sources of funding including traditional loans, lines of credit and other sources of high interest debts.

Applying for these grant programs is easy! If you are living in the United States and over the age of eighteen chances are that you will be receiving a type of grant in the future referred to as an economic stimulus grant which can allow the individual to have up to one thousand dollars to put towards repaying bills or spending within the marketplace. The purpose of this grant is to promote spending and shopping and stimulate the economy. I am positive that everyone would love an extra thousand dollars and this is only one of the many government grants which are available to individuals.

We are living in a time of economic crisis when people are holding on to their last dollars as tight as they can. With job loss and property foreclosures at an all time high the government has realized that they must take these steps, such as offering these grants to individuals to ensure that we stay financially healthy and reduce the damages which are being done to the economy because of the state of our current economic climate.

Apply for a grant from the government today! Whist the auto industry and the banks are getting bailouts, it is worth noting that the Government does give money out to people like you. Millions of $$$ are available in free stimulus grants - get your grant kit today

Buying a Home - Questionable Credit Rating by Jessica Lamber

America has been shaken by the sub-prime market collapse, in turn creating a major financial crisis. Lenders were giving out too much money to those with poor credit and now they cant repay their loans, creating a huge problem for the home buyers today.

Lenders are trying to regain losses by charging you higher interest rates, closing cost and adding more unnecessary expenses. But you have the opportunity to protect yourself and here is how!

First, pull your credit report. All of your previous credit information will be listed under three separate companies with three different scores. Banks use this information to determine how much extra to charge you for your loan.

Second, look for any wrong or old information that would be affecting your credit score. Creditors can mistype information or put the wrong information on the wrong persons credit history. You could have canceled cards or accounts that need to be taken off as well.

Did you know that 1 out of 4 Americans has a mistake on their credit report that they were completely unaware of?

Dont get discouraged if you have had a bankruptcy or been through a foreclosure. You can still get approved for loan, but it may not be as fair of a price as you were hoping for.

Third, take to time fix mistakes and improve your credit scores. You can obtain a do-it-yourself kit and be better prepared for a good loan in less than a year!

You can also pay a credit repair lawyer to help you. They can cost a little extra cash but it can in turn save you thousands with your home loan.

When you realize how large of an impact your credit has on the price you pay for a loan, you will want to do help yourself. Do not settle with the credit scores you have and throw away your money.

Why let the bankers take your cash when you could pay down debts and make an even better credit history for yourself. Be patient and make the corrections on your credit report. It will pay off to save you hundreds to thousands of dollars!

About the Author
For a free credit consultation call 1-866-246-7311. To learn how to remove a credit charge off or to learn how to remove bad credit from debt collectors such as LVNV Funding.

Finance Help - The Obama Economic Stimulus - Everybody Gets to Refinance Their Homes at 4.5% By Sambit Sahoo

The US economy is currently witnessing a sharp recessionary phase, especially in the third quarter of 2008. Consumer spending, which comprises of around 70% of aggregate economic activity, has significantly gone down, along with additional payment on personal mortgages.

This, in turn, has resulted in a drastic shortfall in aggregate demand in all sectors of the economy, including the home market. Indeed, according to experts, the current economic downturn is the worst since the Great Depression of the 1930s. In such a scenario, it is not surprising that the home market (particularly, home construction) has experienced the largest downturn of the last 25 years.

Professional financial planners and advisors, however, are optimistic about a recovery of the US economic system. If suitable measures are aggressively adopted, there is every chance that the economy will start moving in the right direction again in 2009. The victory of Barrack Obama (the first Afro-American President of America) is believed to be a blessing for the purpose of this recovery.

Obama's election campaign was based on increasing government spending, and cutting down on tax rates. These steps, along with rate-adjustment measures of the US Federal Reserve, can provide the required fiscal stimuli for an economic recovery in the country.

The current recessionary forces have resulted in an acute credit crunch, tight lending markets, increasing amounts of foreclosures and a consequent rise in the unemployment. These have come as a severe jolt to most of the major companies in the US home market. New building permits are also on a free fall, adding to the problems in this sector.

Experts have assessed that the current recessionary forces can lead to a fall of 8% in the US GDP (Gross Domestic Product) during this quarter. President Obama, however, has a stunning, well-thought-out and carefully-formulated plan, which, if applied in the home market appropriately, can generate a huge economic stimulus to the markets.

Obama's plan for the home market is, in itself, simple: everybody should have access to 30-year fixed-rate mortgage at an interest rate of only 4.5% (that is almost a full percentage point less than the current national average interest rate of 5.47%). Refinancing of mortgages by existing homeowners would also be made available at 4.5% interest rate.

The benefits of this scheme are simple and apparent - a reduction in the interest rate would result in a fall in the expenditure for a new property or mortgage refinancing. This would help individuals to retain more cash after home refinancing; this additional saving can now be spent on other items, thereby pushing up aggregate demand in the economy. If this plan can actually be implemented, the number of homeowners would go up by significant amounts, stabilizing (or, even raising) property values. Financial planners and experts are saying that this might just work.

This plan, as designed by the Obama team, is envisaged to an effective long-term answer to the problems that the current recession poses in the US home market. The plan comes at an estimated price $3 trillion, and, in theory, can result in a total economic turnaround, and provide a platform for economic recovery. However, in practice, the implementation of this plan is not as easy as it appears. Firstly, if both new mortgages and refinancing are made available at 4.5%, the total plan may turn out to be prohibitively expensive. Hence, the government is currently limiting this plan only to new homeowners.

Secondly, and more importantly, individuals can simply take the home loans at 4.5%, and simply buy a house from a person (s)he knows previously. This would render the new plan null and void.

Overall, the plan devised by Obama to provide economic stimulus to the home market (by providing new mortgages and refinancing facilities at 4.5%) is, in theory, an effective device to bring about economic recovery and increase in property values.

Sambit Sahoo is a professional writer and a widely published author on a variety of topics including finance, stock market, investments, insurance & accounting. He has shown countless Americans the best way to find a financial planner or adviser to solve some of their financial headaches, reviewing all the good and the not-so-good offers that are available today. Sadly, there are simply too many promises that never really deliver and end up just wasting people's time and money. And yet, there are some really good ones. But if you really want to find good offers and the finest pre-screened financial planners and financial advisers, do visit http://www.respond.com/financial-planners/find.html

Where Will Mortgage Rates Head in 2009? By Jesse Wojdylo

One of the most asked questions for every home owner in the year of 2009 will be, "where are mortgage rates headed?" Obviously, no one can be 100% confident in making this prediction, but if we look at the recent events in the United States economy, we can at least make an educated guess.

Many lenders are advertising that rates under 5% are currently available. These rates are truly only available to applicants who have 20% to put down on a mortgage and a FICO score of over 700. Many Americans do not have these financial standards due to the struggling economy. The average 30 year fixed rate mortgage is currently at 5.26%. Once again, to gain access to this rate, one must have a solid credit rating and some financial backing. With that known, where are rates headed?

If rates are currently at 5.26% and have declined steadily over the last eight weeks, why would anything change? Shouldn't they continue to head lower? That would be the logical guess, but sometimes markets do not work in ways that seem logical.

The amount of mortgage applications has increased by 48% over the last few weeks, so it has been quite difficult on the mortgage lenders. Some lenders have even increased rates so they could complete all the applications that are flooding in. Yes, the overall trend is down for mortgage rates, but it would not be surprising at all if there was a quick bounce just to get most lenders caught up with their paperwork.

Even if there is a bounce, it is still not a bad idea to keep an eye on the overall trend which seems to be downward sloping. Look for a quick bounce in rates and then a steady decline as the year wears on.

To learn more about mortgage rate forecasts and the housing market as a whole, be sure to join Subprime Blogger. Make sure to find out what the mortgage interest trend is as well as many other financial articles that are available at Subprime Blogger. Take advantage of the low rate market we are in.