Are you least bothered to repay your debts? If yes, then you must be unaware of its consequences. Within a few days you’ll receive the call of the credit collectors. They will harass you take stringent actions to force you to repay your debts. They may even sue you and can take a toll on your financial life. Thus, you should not waste your time and search for a suitable debt relief option that can help you become stress free. If you enroll in debt settlement programs, the representative of the company will first assess your financial condition. They will negotiate with your creditors to reduce a part of your outstanding balance. Now, you have to pay only the remaining outstanding balance through monthly installments. This way you’ll be able to repay your credit card debts quite soon.

• Will debt settlement programs affect your credit scores?

Though debt settlement program seems to be enticing, but here your credit score will be greatly affected. It’s because, in this program a part of your debt will be totally wiped out and you have to pay only the remaining balance. This will lower your credit score. But you shouldn’t worry as you must focus on repaying your debts first. After you have paid off your debts, you can take certain steps to repair your credit score such as you can take out a secured credit card or pay your bills on time. This way you can prove you’re lender that you’re a responsible debtor. This will help you boost your credit score.

• >Can you settle your debts on your own?

If you’re willing to settle your debts on your own and don’t want to spend money to pay the debt relief professionals, you have to gain knowledge about how the whole collection and settlement process works. You have to first arrange all the documents of your debts and call your creditors. Tell them that you’re willing to repay the amount that you owe to them and ask for an appointment. When you’ll approach a creditor, make sure that you carry all your documents. Talk to your creditors and tell them that you’re trying your utmost to pay your debts. Show them your efforts to convince them to settle your debt amount. Your creditors may take some time to settle your debts. But if you’re able to make it, then you can repay your debts soon.

Lastly, before you choose debt settlement programs to repay your debts, you must know that the fact in this program the part of your debt that gets eliminated will be regarded as your earning. Thus, you have to pay a tax on that part of debt to the IRS (Internal Revenue Service).

Express path financing is available only on Fannie Mae REO properties.  This is a special type of financing that can make getting into the home of your dreams a reality as there is a very low down payment of $500, low interest rates, waived mortgage insurance, and 15 or 30 year terms.  Consider going with express path financing if you want a REO property.

Expresspath financing was developed specifically to get homes off Fannie Mae’s books.

Express Path financing uses a low down payment fee (also known as LDPF), which means the mortgage insurance is not built into the rate. Buyers are able to compare rates from other lenders more easily with LDPF. For owner occupied single family homes, 100 percent of the loan can be financed through expresspath.  A property must be “owner occupied ready” to qualify for expresspath financing.  The NPDC is authorized to make repairs themselves to make a home owner occupied ready.


You will get a low down payment loan with an interest rate between 0 and 3 percent.  Expresspath financing is available in 15 and 30 year loan periods.

Investors may receive appraisal waivers, reduced documentation, and all of the PHH Mortgage Guarantees

Additionally, manufactured homes are eligible for expresspath financing if they are coded correctly.  The maximum loan to value on a manufactured home is 95 percent.  Unlike traditional properties, manufactured homes must be owner occupied to qualify for expresspath financing.

One of the benefits of expresspath financing is that the appraisal is done before the home goes to market.  If you are looking to buy a new home in today’s market, give expresspath financing a second look.