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The credit crunch is really beginning to affect people’s lives. Increasing numbers struggle with cobra bad credit, making personal loans inaccessible. The more surprising news is that those with perfect credit are now finding that borrowing costs have risen.

The Obama administration’s Making Home Affordable (MHA) plan went into effect March 4, 2009. That means troubled homeowners may be able to get their lenders to adjust their mortgage loan terms and decrease their monthly payments. Overview of Making Home Affordable With the current economic recession, many people are suddenly unemployed or forced to take …

Home mortgage loan lenders typically have strict lending requirements. This is particularly true for traditional fixed thirty-year home mortgage loans. In order to comply with the lender’s policies, the potential homeowner should gather documents and make appropriate copies for the mortgage lender or bank files. Home Mortgage Loan Application Each lender will have its own …