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A debt settlement company is a company who specializes in helping people with overwhelming debt settle with their creditors

It is possible to get a settlement arrangement that allows you to settle your debts for less than you owe

Debt consolidation allows people to pay one bill a month towards their debt obligation, rather than many

Bill Collectors jobs are to extract as much payment from those who are past-due on payment obligations

Credit counselors can negotiate debt management strategies with lenders on behalf of individuals with debt problems

In a reverse mortgage, instead of paying to for your home, you’re getting paid for your home. It is considered a loan

With an adjustable rate mortgage (ARM) , the interest rate is lower at the beginning than the fixed-rate alternative

Refinancing a mortgage means to get a new mortgage agreement with a different interest rate

If a person can sell their own house or property without a real estate broker, he or she can avoid paying broker’s fees

Expenses for tuition, room, and board at a secondary education institution can be loaned to a student and paid over time

Appraisal is a valuation conducted by a certified professional to assess the value of property, especially real estate

Appraisal Fraud is the intentional misrepresentation of the value of a home using an appraiser’s statement

Assessed value is used to determine the property taxes due on real estate. Assessed value is normally lower than appraisal

Bad debt can be defined with a threshold amount at which point it becomes more expensive to attempt to collect the debt

A Balloon Loan has lower debt payments than a fully amortized loan up until a lump sum payment at the end of a term

A balloon payment is a lump sum due at the end of a balloon loan term. These terms are usually relatively short (5 yrs)

If a bank forecloses on a home, and it does not sell at auction, it becomes bank-owned-property (or real estate owned)

Bankruptcy court is a special judicial proceeding which determines how a debtor can settle accounts and move on

A bankruptcy trustee is appointed to oversee the liquidation of a debtor’s estate

An Assessor is a government employee who finds the value of properties and other assets for tax and insurance purposes