Credit Advocate Services, Inc of Tampa-Here to Help You Out of Your Credit Situation

July 26, 2010 - PRLog -- It seems that about fifty percent of Homeowners and Investors in Florida are in serious financial trouble, due to their adjustable rate mortgages increasing. Many Banks won’t offer loan modification terms in writing, so while a homeowner is working with the Loss Mitigation Department, the same Bank’s Legal Department is sending them foreclosure papers.  Most loan modifications reduce the interest amount by to a smaller percentage amount for a few years, but tack that amount onto the back end of the loan costing the homeowner even more money for a home that’s going to be worth less.  Credit Advocate Services is here to help.

Credit Advocate Services, Inc. is not a "credit repair organization, they are consumer credit advocates and educators, working in conjunction with mortgage brokers, lenders, Realtors, Investors and their clients helping them learn to invest in themselves. Currently, the Banks have several million homes they now “own” that haven’t yet been dropped into the Multiple Listing Service. When that happens, home prices are expected to decline another fifty percent. In short sale situations, where a buyer may want to purchase a home worth less than its value, the homeowner may get a nasty surprise at the closing table when they’re informed that they will have to sign a deficiency settlement agreement with the Bank on the difference in order for the sale to proceed. Most homeowners are not in a financial situation to do this and often declare bankruptcy.

If you need help reading your report, understanding what it means, if you need to know how to dispute items on your report or are a victim of identity theft, if you are in serious debt or late on mortgage payment call Credit Advocate Services today. They can explain your credit situation and solutions and suggest options to assist you.

For more information contact Laurie Zoock at 813-354-4733 or visit www.creditadvocateservices.com.

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