A grinding recession has put already struggling homeowners in a position where household debt loads are quickly becoming unmanageable. Loan modification has become a well known remedy for those experiencing hardships including toxic mortgages, job losses, being underwater on the house, divorce, etc. It has been widely reported that fully half of these modifications end up back in default within six months. Recently Fitch Ratings published estimates that the re-default rates on mortgages would rise to 70% by yearend 2009 due to inadequate terms on the loan modifications and additional household debt that isn’t included in calculating a what a homeowner can actually afford to pay on the monthly mortgage payments.

Once a homeowner has engaged a firm to negotiate a loan modification on his behalf, entering a debt settlement process can double or triple the decrease in monthly payments gained from a loan modification by itself. The debt settlement aspect of this combination has several advantages in terms of the loan modification and the benefits that would accrue outside of it:

1) Monthly consumer debt/credit card payments are typically cut by 50% within one month of starting the process.

2) The documented decrease in consumer debt payments makes the overall financial picture of the homeowner look much better. As lenders broaden their scope to account for consumer debt and ability to pay after a loan modification, the decreased payment as a result of the debt settlement could be the difference between getting a loan modification and being denied.

3) Engaging in a debt settlement will hurt the credit score of the consumer/homeowner but credit scores aren’t a major factor in determining whether a loan modification will be accepted or not. Acceptance for the loan modification is mostly contingent on ability to pay meaning that a debt settlement, even accompanied by a declining credit score, can help make the case for a modification.

4) The timing for completion of debt settlements varies from eighteen to forty-eight months during which time the credit score of the borrower will decline. Over time, as each account is paid off in the settlement the borrower’s credit score will begin to increase. Concurrently, initial interest rates on a new loan modification are typically set for three to five years before payment increases start to go into effect. An attorney negotiating the terms of a loan modification to coincide with completion of a debt settlement can put his client in a position where the homeowner could apply for a refinance at a time when his credit scores are on the upswing.

5) Even if a refinance is not available to the homeowner, timing the conclusion of the debt settlement process to precede the first interest rate bump on the modified loan proves to be advantageous as the homeowner/consumer would have additional cash flow as he finishes his payments to the debt settlement.

For consumer/homeowners with burdensome mortgage and consumer debt payments, combining the two processes can make a significant difference in cash flowing out of the household, the difficulty in managing the debt, and dealing with the possibility of foreclosure. Have attorney assess your total financial picture so that the two processes can be synchronized for optimal results.              

For the past two years the boots which have been much in demand have been the Ugg Classic Cardy. However, this year it looks like the new knit style from Ugg Australia the Classic Argyle boots may well take the number one position of most sought after footwear this coming autumn and winter.


But just as with all Ugg boots they come at a price but if you are careful and take your time you could soon be wearing a pair of these wonderful boots. Below we offer some tips on how to get hold of a pair of Classic Argyle boots from Uggs at a price that won’t break the bank.


Tip 1 – Go Online


The main reason for actually choosing to shop for such items online is that many of the sellers don’t have the kinds of overheads that bricks and mortar businesses have. So this means that the savings they make can be passed onto you as the client. Plus these stores will often use drop shipping facilities which means their supplies are sent out directly from the manufacturer or warehouse so they can offer a wide range of styles and sizes.


Along with using stores online that are specifically set up for the selling of these types of boots it is also worth considering using auction sites like eBay. Again these can often provide you with a pair of great looking Ugg Classic Argyle boots for a price considerably less. But you need to be careful and ensure that you fully investigate the person selling the boots before making a bid or clicking on the buy now button. Unfortunately there are some less reputable sellers on eBay who offer these boots and are in fact replicas rather than the genuine article.


Tip 2 – Buy Them In Bulk


Before you do make your purchases online find out if any of your friends or family would like to get a pair of what is going to be a very hot fashion accessory this winter. You may find that by ordering several pairs at once the seller may be willing to offer not just a discount on the price of the boots but also on how much they cost to send them to you. So not only do you get a pair of Classic Argyle boots at a price that you find reasonable so will those who order with you.


Tip 3 – Don’t Be Tempted By Fakes


Although the price on the fake boots may tempt you in to considering purchasing them, don’t. As you will soon discover with these particular boots the level of comfort that they offer to the wearer is far less. Also you will find that the quality of the material used in making a pair of fake Ugg Classic Argyle boots is very poor indeed. Often the sheepskin isn’t real but an imitation and so these won’t help your feet to remain cool and dry or warm depending on the weather when worn.