19 Comments »

sairav said:
nope not really
# 30 October 2009 at 2:56 pm
jguerrero14 said:
only if their credit allows it, if they are not capable of taking on your loan on top of what they're already paying, then most banks wouldn't allow it.
# 30 October 2009 at 4:17 pm
maybell said:
No one will "take over" your loans. You will still owe the money to your lender when you are in forbearance. They will simply add interest every month while you are making payments.
If you are asking about defaulting the lender will just contract out with a collection agency to start calling and hounding you to mail them payments. If you make 6 to 12 months worth of willing and reasonable payments you can ask your lender to "rehabilitate" your loan. This is when you are issued a new loan and pay off the one in default so you can get federal fin aid again. Again, rehabilitation can only be done after you have made 6 to 12 months of payments.
Try this site
http://free-college-information-usa.blogspot.com/
Free College information on financial aid for students, scholarship, student loans and more.
# 30 October 2009 at 5:41 pm
WPMixer said:
Ampedee, I’m a mortgage broker and banker. I used to work for one of the largest banks in the country and to be honest our fees and costs were so much higher than brokers. Large banks spend money on advertising and pay salaries.
# 30 October 2009 at 2:54 pm
Wordpress said:
What is the Key disfavors by Having Your Mortgage
realmortgagepaid.blogspot. com
# 30 October 2009 at 4:35 pm
tomiko said:
With 20 years experience in the mortgage business, I have never seen a student loan that was in repayment treated any differently than any other long term debt. While you may be able to ask for a hardship deferal in the future, which is the only advantage on a student loan that doesn't exist on a standard installment loan, no lender wants to anticipate that circumstance. As long as the payments extend past 10 months in the future, the lender will only use your monthly payment as part of your qualifying ratios. The total debt is not that important and would only be a minor factor. What will matter more is your payment history on the student loan: it should be perfect. It all comes down to the quality of your credit history (your FICO score) and your qualifying ratios of debt/income.
Try this site
http://free-college-information-usa.blogspot.com/
Free College information on financial aid for students, scholarship, student loans and more.
# 30 October 2009 at 11:56 pm
rails said:
A good mortgage is like a work of art.
mortgageartist. com
Your path to the best free mortgage information resource around.
# 30 October 2009 at 9:49 pm
Free Blog said:
Hey Bank of America! You didn’t do squat for me and my husband. You promised the world but delivered nothing. So why don’t you get off this website and go do somethingproductive??? Like….get an education!
# 31 October 2009 at 3:02 am
jlbilby said:
j:
As long as you remain a full-time student, you will continue to qualify for "in-school deferment". You won't have to begin paying your loans back until you finish law school.
The only requirement is that you remain registered at least half-time at an eligible institution, and that you don't take more than 6 months off at any time during your schooling.
By the way – this is an automatic feature of government-backed student loans (Stafford/Perkins/PLUS), but it is not necessarily characteristic of all private loans. Also remember that the in-school deferment requires attendance at an "eligible" school. Some students have pursued law or medical degrees at foreign universities, only to discover that some of these schools are not participants in the Federal Student Aid program, and therefore, ineligible for in-school deferment.
I hope that helps – good luck to you!
# 31 October 2009 at 4:14 pm
nacao said:
That is a great video, you break it down very well.
# 31 October 2009 at 9:47 am
dillsteroo said:
To get a student loan, your first step is to fill out the Free Application for Federal Student Aid (FAFSA). You should submit your FAFSA as soon as possible – you can make estimates and correct the details later.
Once you’ve completed your FAFSA, you’ll want to visit your school’s student aid office. Ask what kind of aid you might expect.
# 1 November 2009 at 12:01 am
Dat_1_Chiq said:
When your federal educational loans are in default, you have several options:
You can repay the loan in full.
You can negotiate a new payment plan with your lender.
You can "rehabilitate" your loan.
You can consolidate your loan.
Obviously option one is rarely attractive or possible for defaulted borrowers.
Option two (renegotiate) should be investigated fully – most borrowers skip this step, but it's probably the best option for most people. Call your lender and ask to speak to someone in the "Workout" Department. Explain your situation to them (there's nothing unusual about it) and ask what options are available to you for switching to a graduated, extended or income-sensitive repayment plan. If your lender will agree to change your repayment plan, a few regular payments will get your default status removed, and the new plan may be easier for you to keep up with.
Option three (rehabilitation) is really a specific form of a workout agreement. It probably won't help you much in your situation, because it requires an agreement between you and the lender that will allow you to make 9 consecutive on-time payments of some agreed-upon amount.
Option four is everyone's favorite, but you must absolutely understand what a consolidation loan will do. To keep this utterly simple – a consolidation loan is a brand new loan that will pay off your old, defaulted loan. A consolidation loan MAY lower your monthly payments, but understand how this works. A consolidation loan never lowers your payments by wiping away some of your debt – a consolidation loan lowers your payments by stretching out the length of your loan. If you pay less every month, you'll make many additional monthly payments, and – in the end – you'll pay far more back than you would have paid on the original loan.
As an example: Suppose I lent you $100 and you agreed to pay me back in 2 weeks by paying me $50 a week. You came back a few days later and explained that you weren't going to be able to afford to pay me $50 – is there something else we could do? "Oh, absolutely," I'd say, gallantly. "Instead of paying me $50 a week for 2 weeks, how about if you only pay me $10 a week for 17 weeks?"
See – in the end, you'll pay me back $170 instead of $100 – that's how a consolidation loan works. But remember – we're not talking a $100 loan for a couple of weeks – by the time you pay that $5000 loan of yours back over many years, you'll pay a few thousand more than you might have paid if you didn't consolidate that loan.
I've attached some information about consolidating from the Department of Education – take a few minutes to read it over. If you do choose to go this route, be sure to consolidate with a reputable lender (or directly with the government) and not with some fly-by-night operation that you learn about from some pay-per-click site shilled on Yahoo! Answers.
Good luck to you!
# 1 November 2009 at 12:17 am
psychic said:
lots of info here
# 31 October 2009 at 10:42 pm
?Kiki? said:
Depends on the length of the loan. Google "mortgage calculator" or
"loan calculator."
# 1 November 2009 at 7:43 am
WPBlog Shop said:
mortgageartist. com
The best thing you can do is arm yourself with knowledge, even better if it’s free. a little time and a few clicks now could save you years and thousands of dollars later.
the choices you make today define your tommorow.
# 1 November 2009 at 3:19 am
Blogger said:
hoyl hell this guy is a good sales man, but being in the mortgage industry my sell i see right through alot of his bulshit. GETTING YOUR LOAN THROUGH A BROKER MEANS UR GOING TO PAY MORE IN FEES, BECAUSE THAT LOANS GOING TO JUST END UP AT ONE OF THE BIGGER BANKS IN THE LONG RUN ANWAYS…..
# 1 November 2009 at 9:58 pm
guzen said:
very professional response b of a.
# 2 November 2009 at 3:34 am
Lyric said:
I am in the same situation as you. Here is what I did.
Fill out your FASFA form online (www.fafsa.ed.gov). Add all the schools that you intend to attend on your FASFA. Different schools have different deadlines to have your FASFA submitted. The earlier you submit your FASFA the better so that you can meet the deadline for all the schools. You must obey your school's deadline not the federal deadline for your state. The school receives money from the FED and they prepare a financial aid package for all the students that meet their deadline and that are accepted. The student package consist of scholarship, Stafford and Perkin loans. This all depends on your family's expected contribution toward your education. Whatever amount extra that you need you have to get a private student loan which is credit base. Your parents could also take a student loan on your behalf. For private student loans try Discover student loans and sallimae as. Your school should have a list of all the lenders that offers private student loans as well as a list of scholarships that you can apply for. Good Luck !!!!
If your expected family contribution is zero and you are interested in working in undeserved communities after you graduate for a free education. Check out the following link:
http://bhpr.hrsa.gov/nursing/scholarship/applicantbulletin/default.htm#benefits
ss
# 2 November 2009 at 11:40 am
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# 11 November 2011 at 12:11 am

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