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Bank of America Loan Modification Mods Are On The Rise

May 28, 2018   Auto Loans

Bank of America Loan Modification is definitely on the rise. They have aggressively started modifying their borrowers loans to try and keep these notes as performing assets.

This is great news for Countrywide borrowers who will soon make the switch to Bank of America. It is estimated that it will take atleast a couple months from now to transition most of these borrowers over to the Bank of America system. Countrywides borrowers had 9 digit loan numbers, while B of A’s customers have 10 digit loan numbers.

What does this all mean? Well, if you statement is still a Countrywide statement then you’ll have to wait until you get your new loan number. Then, B of A will be able to look you up in the system. This is when you will be able to modify your loan.

There are services out there (only a few) that can actually call up Bank of America and with only a few of your details see if you qualify for their new modification program. You will need your loan number (10 digits!), the last four numbers of your social, your property address and a one sentence hardship description. Once the modification company has this, they can call your lender and see if you qualify. If you do, you will be able to complete the whole modification process in as little as a week. This is almost unheard of today, only a couple other companies are doing this such as EMC.

To make things easier on you, the service can usually get the first payment pushed back atleast 30 days. Some people even can get it pushed back further. This will allow you to save up some money and prepare to make those mortgage payments.

You only have one shot to get a loan mod, so you better make it count. Go over all your finances and see where you can cut back and save. If you go into default after getting a loan mod, you are almost guaranteed to lose your home.

If you are looking for a Bank of America loan modification, just visit the links below for a service I highly recommend. They can get you approved and tell you what your new payments are going to be before you pay them a dime.

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Go Green With Credit Card

May 24, 2018   Home Mortgage

Barclaycard are the latest company to offer a ‘green’ product to its growing ethically concerned customers who want to lower their carbon footprints. They have announced that their new eco-friendly credit card will be called ‘Breathe’. To ensure its green credentials the card is made from PETG which is the greener alternative to plastic. There will also be no paper statements, they will offer recycling for expired cards and all advertising for the ‘Breathe’ card will be done online. The card offers customers discounts and low rate borrowing when green products are bought. In addition to this Barclaycard will give 50% of after tax profits (estimated at 1 million in its first year) from the card to environmental projects that are dedicated to reducing carbon emissions.

Barclaycard have also recently, along with eight other market leaders – B&Q, British Gas, Marks & Spencer, Sky, Tesco, Royal & Sun Alliance and O2, launched a government backed campaign titled ‘We’re in this together’ which aims to help every UK household cut their carbon emissions by one tonne over the next three years.

Barclaycard isn’t the only lender to be catering to the growing demand for ethical borrowing. Virgin have also launched a green credit card and claim that they have ‘beaten’ Barclaycard in the green stakes because their card is ‘bio-degradable’ and they also promise not to just pay lip-service to the environment but offer on-going dedication to environmental issues. The Co-operative Bank is generally regarded as being the most ethical with all their financial services offering environmental incentives.

The growing popularity of green financial products is encouraging more people to consider an ethical approach to their finances. Not only are they looking at their own environmental positions but they are also showing concern at what their banks and financial companies are doing for the environment.

HBOS, the Abbey and the Yorkshire Building Society have both announced plans to introduce green financial products and you should expect many more credit card lenders following suit.

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