Mortgage fraud motivations could either be for profit, or for property. There are actually two types of mortgage fraud – fraud for property and fraud for profit. However, fraudsters also adopt to the changing environment so more schemes emerge as home buyers, sellers and investors are becoming aware of their fraudulent strategies. Consequently, there are so many types of mortgage fraud, tactics, or schemes that every person must be aware of. Here are some of the very common mortgage fraud schemes but are still victimizing people:

1. Churning – This is described as excessive or unwarranted selling or lending activity with the sole purpose of generating fees and commissions or comparable sales. Typically, appraisers use bogus sales as comparables in appraisal for sales and refinance transactions.

2. Chunking – This is described as multiple loan applications submitted to many lenders not disclosing the investor’s intent to purchase properties. The fraudster usually promises to handle the deal including the leasing of properties, or show investors how to get rich by investment, but actually takes a cut of the profit and never leases the property.

3. Property Flipping – This may be legal, but there are some cases that property flipping becomes illegal especially when Homes For Sale in Euless Texas are efinanced for an artificially inflated value.

4. Silent Seconds – Silent Second mortgage is actually a secondary mortgage placed on an asset that is not disclosed to the lender of the original loan. This is very useful when a purchaser can’t afford the down payment required by the initial mortgage. It is termed as ‘silent’ because the original lender is unaware of its presence. The fraud occurs when a second mortgage is used to fulfill the obligation of the down payment.

5. Equity Theft – The real score is that fraudsters falsify a deed transfer or a satisfaction of lien, then get new liens on the property. Until the homeowner receives the final eviction notice, then that will be the time that they know that they have been deceived. Another version of equity theft is foreclosure rescue scam.

6. Backward Applications – The borrower locates a property to buy and changes some information regarding his/her income in order to meet the loan criteria. Along with the bogus application is a ‘customized’ appraisal in order to be approved of the loan.

It is so easy to get involved with mortgage fraud without you knowing it. So, it is necessary to be aware of mortgage fraud schemes to avoid being victimized. Aside from these, there are still other types of schemes that you need to responsibly know like affinity fraud, foreclosure rescue scam, straw buyers, inflated appraisals, and so on.

By educating yourself with these common mortgage fraud schemes, you are helping in reducing the number of Foreclosures in Baltimore MD, prevent neighborhoods to fail and ad valorem taxes to go up.

Searching for someone that can help you to sift through various mortgages is crucial, particularly if it is your first time to obtain one.  You may be left clueless on your first attempt to find the right mortgage deal.  Indeed, it’s tough, but you simply have to ask help from people that know far better and then you’ll be fine.

A mortgage broker is actually an impartial service provider who can help you find the right lender according to your requirements.  In other words, he is somebody who sets you up with loan providers.  Different financial institutions provide various offers and the agent would assist you in finding the right loan provider.

You need to be aware of the difference between a broker and a mortgage banker since the first provides loans of a lender or a bank.

You may have observed that mortgage brokers seem to be not quite important nowadays considering nearly all financial institutions provide you with similar products.  Nevertheless, these people can still help you in a way or two nowadays.  There is absolutely no reason to undermine the importance of mortgage brokers in the industry regardless of the sort of rumors you heard recently.

Mortgage brokers still do have a role in this business and you could get their help when, for example, you’re the kind of businessman or consumer who sees store shopping cumbersome.  If you don’t like searching for the very best loan provider in the city, or if this process feels a little too complicated for you, then you could give it to any of those dealers.  Contrary to what people say about the irrelevance of these brokers, they can in reality help you cut back on cost.  They are familiar with everybody in the mortgage loan world and can point you to the one that provides the package you require.

On the other hand, you might be stunned that you also need to select among the many mortgage brokers.  The reliable dealer surveys the background for various home loan programs and compares each package with your needs.  Just like in any other type of job, there are professionals who are skillful and people who happen to be irresponsible.

In the event that you are looking for a large financial company, you can check with associates or friends for referrals.  Receiving referrals from people you recognize could be a lot of help because you don’t need to perform the research all by yourself.  A real estate dealer or financial adviser may refer you to the right dealer and lender.

A mortgage broker might ask you to consider their services.  Be skeptical with them for the fact that they might be doing this as they just have limited customers.  Highly regarded brokers like to have customers mentioned them by other people to whom they have worked with before.

You need to also get a mortgage adviser if it is the first instance you are getting a home mortgage which is a vital monetary move.

This is some information for those of you looking to own a property or refinance a current home loan.This news could have an impact your monthly home loan payments, so it is advised you take a moment to read more and decide how it could have an impact you. One of the largest buyers of home mortgages has performed its most recent survey of mortgage lenders. Super mortgage buyer Freddie Mac released the results of its Primary Mortgage Market Survey® (PMMS®) where mortgage interest rates for the 30-year fixed-rate mortgage (FRM) averaged 4.77 percent with an average .8 point during the week ending 1/6/2011, down from the prior week when rates for the loan program averaged 4.86 pct.. 4 weeks ago, the 30-year FRM averaged 4.61%. Mortgage rates for the 15-year mortgage loan this week averaged 4.13 pct. with an average 0.8 point, down from the prior week when rates for the home loan program averaged 4.20 percent. 4 weeks ago, the 15-year loan program averaged 3.96 pct.. Mortgage rates for the 5-yr. Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.75 pct. this week, with an average 0.7 point, down from the prior week when rates for the home finance program averaged 3.77%. Four weeks ago, the 5-year adjustable rate mtg. averaged 3.60 percent. Interest rates for the 1-yr. Treasury-indexed adjustable rate loan averaged 3.24 percent this week with an average 0.6 point, down from the former week when rates for the home loan program averaged 3.26 percent. 4 weeks ago, the 1-year adjustable rate loan averaged 3.27 percent. With home mortgage interest rates at these present levels, one should really give some thought to the possibility of re-financing his / her current house loan if it has a more lofty interest rate. In fact, check with local banks to see if they can offer an even better interest rate on their mortgage loans. If a neighborhood mortgage provider keeps its loans on their books, as opposed to selling them in the secondary market, it can provide home loans at lower rates than the national average to gain a competitive edge. There can be additional grounds to consider a local lender to handle your home finance loan. Several mortgage companies will service (i.e. collect monthly payments, pay property taxes) their mortgage loans. This can help to grow and upkeep a continuous rapport with their customers. Another way to decrease the interest rate on your home loan is to pay for points (a % of the loan amount) as an upfront fee. You can undertake this option with both local and national mortgage firms.

House Prices Sold. The Obama Home loan Relief Program was launched very last week. Further particulars were launched currently. The plan is developed to:

1. Stabilize the decline in housing price ranges – according to Mr. Obama, modifications in these mortgages will enable reasonable the decline in these prices.

2. Stem the flow of foreclosures – the Obama administration states that the program will assistance up to 9 million families who’re at this time in foreclosure or will soon be dealing with foreclosure.

Will the Obama Mortgage loan Relief Plan Quit the Decline in Housing Rates?

Let’s get a look in the very first objective. In my report “Soaring Unemployment Charges – Do You may have a Backup Strategy?,” I said that housing rates will proceed to fall, as much as 20% around the average. Therefore, we would see soaring unemployment charges and unemployment continue to be at extremely high levels for a lot of months.

Because of the soaring unemployment prices, I advisable that all individuals possess a backup plan, a Plan B, in situation their loved ones earnings was to decline. I advised that a single must strongly think about an online network marketing business enterprise as their backup plan. I pointed out that individuals could get fantastic world-wide-web network promoting education at an incredibly realistic charge and continue to work their normal task.

Indiana Homes For Sale. The 20% decline in household charges is based upon the ratio with the median total price of a residence within the United States divided by the median income a family earns in our region. If you review this ratio using the historical ratio that has existed for many decades, it suggests that dwelling rates are nevertheless over-valued by up to 20%.

I stick by individuals numbers in spite of the Obama Mortgage loan Relief Prepare. Since the unemployment rate and first occupation declare numbers proceed to rise, there’s nothing at all while in the strategy that should adjust the long-term pattern of falling housing rates. Housing costs are nonetheless over-valued.

To know the reasoning behind these statements, please read, Soaring Unemployment Charges – Do You’ve got a Backup Program?

Let me say this. Some locations of your country are actually significantly affected by the housing and credit score bubble. Their housing charges is going to be impacted one of the most as selling prices continue to decline. Other regions have not seasoned significant appreciation in housing charges during the bubble years (2004-2007) and will possibly see minor if any significant decline.

Memphis Homes For Sale. Probably the most most likely scenario is always that the Obama Mortgage Relief Plan will decrease or, no less than, delay foreclosures in the quick term. The plan will possibly prolong the agony of falling housing selling prices over a lengthier period of time. I do not believe that is what most of the people are expecting.

The strategy may possibly slow down the sharp decline in housing prices. Having said that, while in the long term, dwelling charges will fall to their correct marketplace worth. Only then will the housing markets reach a bottom and costs stabilize. The economic system will continue to struggle.

We’ll carry on to see soaring unemployment rates and higher levels of unemployment for any lengthy time. This really is in spite of the optimistic feedback created by Fed Chairman Ben Bernanke earlier this week.

IRS

A DEBT TO THE INTERNAL REVENUE IS CAPABLE OF PROMPTLY BECOMING AN IRS LIEN

It is viable to cause the IRS withdraw a federal tax lien, notify the credit reporting agencies of having done so, and take pleasure in a consequential increase in ones credit score. All one needs to do to successfully dispute the IRS lien is demonstrate that entirety of the administrative steps within the IRS preceding the lien were not complied with by the IRS.

The Internal Revenue by federal law only gives debtors 10 days to satisfy tax debts prior too filing an IRS lien and making the delinquent tax debt a subject of open record. The credit agencies are on an ongoing basis going over the public records and as soon as they hit upon an IRS lien in your records it can have a significant harmful bearing on your credit rating. Federal law at 26 U.S.C. § 6323(j) supplies an opportunity to have an IRS lien withdrawn by the IRS with them providing notice to the credit bureaus of having done so. Once this is accomplished, the credit agencies are to treat it “as if the withdrawn notice had not been filed“. See 26 U.S.C. § 6323(j)(1).

The best grounds to offer the Internal Revenue Service for doing this is that all the administrative steps weren’t followed. See 26 U.S.C. § 6323(j)(1)(A). Treasury Inspector Audit Reports show where the administrative steps have most likely not been adhered too. Freedom of Information Act requests discern whether or not those administrative steps have been adhered too in your case.

IN ALL LIKELIHOOD THE INTERNAL REVENUE SERVICE FAILED TO ADHERE TO THEIR ADMINISTRATIVE PROCEDURES TO YOUR GAIN

Another very potent likelihood that can act a function in forcing the IRS to withdraw the lien for neglecting to abide by their administrative procedures is the 5 day issue. In accordance with 26 U.S.C. § 6320(a) they were supposed to do this less than than 5 business days subsequent to the day of the filing of the notice of lien. One Treasury Inspector Audit Report showed that the Internal Revenue Service failed to meet the 5 day obligation 95% of the time. That same report revealed that sometimes the Internal Revenue couldn’t even substantiate that they sent any notice at all! This is still an extra viable issue that can play a role in forcing the IRS to withdraw their lien.

THE INTERNALREVENUE SERVICE IS REQUIRED TO PROVIDE YOU NOTICE ABOUT THE LIEN FILING

26 U.S.C. § 6320 necessitate the Secretary (IRS) to inform in writing the one described in section 6321 of the filing of a notice of lien under § 6323. Section 6321 states that if any person legally responsible to pay any tax neglects or declines to pay the same following demand, the amount shall be a lien in favor of the United States upon all possessions and rights to property, whether real or personal, belonging to such person. Section 6323 goes into the nitty gritty of exactly which of your property the lien attaches too. Suffice it to say, there isn’t much of your belongings it doesn’t attach too.

WHY YOU MAY NOT KNOW ABOUT THE INTERNAL REVENUE SERVICE LIEN TANKING YOUR CREDIT REPORT

26 U.S.C. § 6320 also obliges the Secretary (IRS) to notify you you in given ways. This is how the details come  in concerning why you would not be aware of  an Internal Revenue Service

lien. The Internal Revenue Service was supposed to: 1) Hand you the notice individually; 2) Leave the notice at your place of abode or usual location of business; 3) Or, send the notice to you via certified or registered mail at your last known address. I think many people are not aware of an Federal tax lien affecting their credit report because the Internal Revenue either intentionally or nonchalantly failed to send the notice to your present address. There is a very strong possibility that the last known address issue can play a role in forcing the IRS to withdraw the lien for failing to follow their administrative procedures.

Legalbear’s Tips & Tricks for Court is a Yahoo Group that has over 3200 members. Many of those members are knowledgeable and willing to discuss your IRS lien and contribute to a solution to your problem. You may want to join the group.

The FHA or the Federal Housing Government is a government insurance company and operates under the United States Department of Housing and Urban Development (HUD) that finances mortgages and refinance loans of lenders. As part of the National Housing Act of 1934, its goals are:

1. Improve housing standards and conditions,

2. Provide an adequate home financing system through insurance of mortgage loans, and

3. Stabilize the mortgage market.

FHA does not offer or make loans, but guarantees or insures mortgage loans provided by private lenders.. In order for lenders’ mortgages to be eligible for FHA insurance, they must be FHA-approved. FHA-insured loans pose lesser risk on the part of the lenders and this is an advantage. FHA will assure the payment of the loan in the event that the borrower defaults on his loan. FHA also qualifies individuals whose credit has suffered because of foreclosure or bankruptcy.

So, if you are planning to buy a home at Mesa Arizona Real Estate but do not have yet the money to buy one, FHA is big help. WIth the help of FHA’s mortgage insurance programs, buying a home was never this affordable to moderate and low-income individuals or families. The costs of processing of mortgage loans have been lowered down to make this possible. Debt ratios for each state have also been set to prevent borrowers from trying to get a home they can’t afford.

In late December, the FHA was insuring 5.8 million single-family homes — a total of $750 billion in loans which is more than half a million of which were “seriously delinquent and heading toward foreclosure “as reported by The New York Times.

The FHA changed rules for borrowers. One significant change is that the borrowers will have to pay more upfront to get a loan from 1.75% to 2.25% of the loan amount. As a result, if you are paying 1.75% on a $250,000 loan for your Mesa Real Estate which is $4,375 before, you’ll be paying $5,625 now.

The loan defaults have created losses which caused the FHA’s reserves to go below the required level.

Immediately after having published more than one particular thousand articles on varied topics involving the foreclosure crisis from the high point belonging to the market in 2006 until the present, it really is clear that the hottest scandal involving banks, title companies, and county government recording offices is nothing new. With all the fraud and abuses of consumers as well as actual estate course of action that have come to light because the Federal Reserve lowered interest rates and encouraged the housing boom, this most recent instance of fraud is logical and have to have been predictable by almost everybody.

In essence, the robo-signing scandal covers different varieties of fraud involving potentially fraudulent affidavits, foreclosure paperwork, and mortgage loan transfer paperwork. When a homeowner gets behind on their loan and also the servicing company decides to foreclose, it truly is supposed to complete a thorough assessment in the paperwork to prove it has the lawful authority to go ahead with removing the house owners. It have to have proper authorization from the trust that holds the be aware, and it will have to verify which the trust literally has legal ownership in the promissory note.

But servicing agencies along with other banking establishments have apparently not been doing their due diligence, instead automatically signing off on hundreds of 1000′s of foreclosures with small or no proof that they’ve any legal suitable to sue the house or advertise its forced sale. And this is where the authentic problems commence for house owners attempting to save their homes from this insidious fraudulent foreclosure course of action.

From your title companies processing mortgage loan transfer documents and recording them with county clerks or recorders offices, to so-called “foreclosure mill” law offices churning out hundreds or thousands of foreclosures every day with out any evaluation, there has been little checking that the banking institutions and servicers are carrying out every thing legally. And when the case goes to court, the legal professionals for the fiscal establishments lie to get a foreclosure for their banking clients and earn their fee, whilst the judges are far more inclined to believe a university educated lawyer as opposed to the householders who might or may possibly not be behind and could possibly or may perhaps not owe the bank bucks even if they’re behind. But when the courts are backed up with the immense number of foreclosure, a thirty second hearing might be all that property owners are given as their “day in court.”

The most wonderful part of this complete scandal is the fact that the media is treating it as if it is new and just currently being discovered. Perhaps the media is just discovering it year later, but such foreclosure fraud has been going on given that the early 2000s at the most recent, and potentially even earlier. Working directly with foreclosure victims in 2004, it became apparent that neither the legal professionals nor the banks nor the home finance loan servicers truly had any strategy of why a foreclosure was happening or could produce evidence which the parties foreclosing had a legal appropriate to do so. House owners just got caught up from the system, and no amount of begging, pleading, or even paying money could cease the method at times.

The only big revelation in this present robo-signing scandal is that countless processing firms and title companies were provided mass authorization to sign off on mortgage paperwork as vice presidents of banking institutions, notaries, along with other representatives. For signing purposes, these title businesses were the big banking institutions, processing tens of 1000′s of house loan transactions and transfers every last week, and also the customers performing the paperwork had small or no thought of what a promissory note genuinely does or stands for. And this really is when these workers even had to put their actual signatures on one particular within the hundreds of documents that crossed their desks each day; in some situations they did not even need to do this, as their signatures had been automatically electronically added to documents.

But is this robo-signing fraud a huge surprise right after the numerous situations of fraud discovered in the process of approving these mortgages inside the first place? A great number of people qualified for substantial loans by overstating their incomes, banking institutions overstated the superior of these loans to be able to package them into triple-A rated securities, which they then sold around the world and then bet on the ultimate worthlessness within the loans. Courts have discovered lawyers for financial institutions committing egregious errors and fraud when prosecuting foreclosure instances, with paperwork getting lost or mixed up.

All of the fraud that has turn out to be such a noticeable aspect of your banking and true estate industry is unfortunate, but should be expected to continue. After all, not a single significant player from the scandals has gone to jail, along with the largest monetary institutions have received more money in bailouts in the federal government than they’ve received fines from regulatory agencies. With no accountability for their crimes and fiscal rewards of hundreds of billions of dollars for destroying people’s lives, who could quite possibly expect the financial institutions to straighten up and commence imposing any type of excellent control on their lending processes?

Nick writes content articles on how foreclosure works, what options can be used to cease the method, and different trends from the actual estate and property finance loan industries. He has written more than one thousand posts on topics ranging from stopping a sheriff sale, to deficiency judgments, to bankruptcy, and many others. You can go to his website to read much even more about the ongoing foreclosure scandals and fraud which are becoming discovered each individual day, too as various methods to escape from the method if you might be facing the loss of your residence. Also, check out his web page to download a totally free, quick to recognize e-book on solutions to foreclosure: http://www.foreclosurefish.com/

Your house that you simply bought so many many years ago represents one of the biggest investments of one’s life.  By the time you approach retirement, if you have stuck with it, you might well have that house paid off.  And with appreciation, that house may be worth twice or three times what you paid for it and you have all the equity from those years of house payments.  As a result, in addition to the joy you have had living in that house and raising your family there, that house is also could be a large component of your retirement planning as well.

It used to be that to take advantage of that equity when you enter retirement, you either had to sell the house and go live in a nursing home or retirement community or you took out a new mortgage borrowing against the equity and also you find your self paying huge interest payments all over again.

But a new kind of home loan known as the “reverse mortgage” is now available so a senior citizen who is preparing for retirement can begin to realize some of that equity as capital and not need to take on a mortgage payment or move out of their home.  This innovative new program allows you to set up the equivalent of a house equity mortgage but rather than getting a large lump sum, you can have the equity sent to you in the form of monthly payments so the equity of one’s house can actually become part of one’s monthly budget to supplement Social Security or other retirement funds.

What is great about the reverse mortgage type of financial vehicle is that you are by no means required to pay back the mortgage with the money that is based on your fairness.  The only time that loan amount could be required of you could be if you moved, sold the house or passed away in which case the sale with the home would understand the equity to retire the loan.  In other words, should you take out $100,000 from your house for medical costs or just to finance a comfortable retirement living, you aren’t known as upon to pay back that cash and you can continue to live within the home for as long as you wish to.

This is a phenomenal arrangement that appears tailor made for senior who want to enjoy their retirement years with out financial worries and do so residing within the home exactly where they raised their kids and a home that has turn out to be so precious to them.  For kids of a retiring parent, the reverse home loan is a godsend because mom or dad can stay in their own home exactly where they are happiest.  And if they can keep the old homestead, the whole household will continue to enjoy coming to go to there, seeing the grandkids run and play within the same yard they grew up in and having holidays there as nicely.

Like some with the best programs for retiring persons, the reverse mortgage was originally put together by the US. Department of Housing and Urban renewal.  It isn’t frequently that the government gets something proper but they hit one out of the ball park with the reverse mortgage. It is a plan and provides federally insured funds to seniors so they can supplement their income in a safe way that allows them to use the fairness of their house for their retirement comfort without ever having to give up that home.  And simply because the money coming out of a reverse home loan is technically a mortgage, you never need to pay taxes on that money which is another big financial blessing.

The reverse home loan is an option worth considering as a part of retirement preparing.  It gives seniors 1 more choice for keeping their homes.  And that is great for everybody.

If you want more information on Reverse Mortgages Pros And Cons, don’t read just rehashed articles online to avoid getting ripped off.

Go here: Reverse Mortgage Pros

Do not just let some  loan officer to take control and tell you, “I am going to stick you in a ARM home loan, “  or in one of our ‘fixed rate home loans’  ”.   Consider,  it is ultimately your choice.  Get involved.

Examine the risks.  Are you more concerned with short term advantage or looking to make certain that you will at all times be able to save your home regardless?  It’s your risk…..your call!  With the abundance of foreclosures in recent years,  I think each and every future home buyer must think long and hard before committing to a ARM home loan.

ARM Advantages

An adjustable rate or ARM loan is constructive in conditions where the interest rate is expected to fall in the near future.  Interest rates are tied to a quantity of distinct factors and may possibly rise unexpectedly, within restrictions set forth in your finance document, at any time, regardless of the predictions made by trade professionals.

ARM Disadvantages

The key drawback to an ARM is that the interest rate very well may rise appreciably and unexpectedly—something that occurs commonly at the most unfortunate times.

You have some elements of protection for both the home owner and the bank for instance a standard clause in the terms of the contract which prevents the interest rate from being raised or lowered by a certain percentage over a certain period of time throughout the mortgage.  Thoroughly check the exact legal language in your finance documents and know what you are getting into.

Fixed Rate Advantages

The fixed rate home loans can be ideal for property owners with good credit who are able to lock in a good interest rate.  Credit challenged borrowers shouldn’t believe an ARM is their only alternative just because their credit is not real strong.  The stronger the credit score, the better the eventual interest rate provided will be.  Nevertheless there is more to mull over about the finance than just interest.

Predictable monthly payments can be the vital advantage a borrower needs to stay in his residence, and may be the best alternative. 

Fixed Rate Disadvantages

Fixed rate Florida refinance loans permit you to lock in a favorable interest rate that is a obvious benefit if the interest rates when you apply for a mortgage Florida loan are comparatively high at the time. Getting out of these more expensive interest rates can oblige the homeowner to refinance for a lower rate at some future point. Refinance Florida loans can be prohibitive, of course, and not even viable sometimes if the homeowner’s circumstance changes for the worst.

Buying a home has never been this exciting, but the question is, how do you manage your loan now that home loan rates are predictably starting to climb? Piled up mortgage interest can really be stressful. Paying early can release you from the binding stress of paying your newly bought real estate. Yes, home improvements, a baby is coming, the eldest is going to college, health savings, mortgage payment, another property, etc. There are a lot of things that you need to consider when you had money on your hands. Indeed, it’s just so hard to do the budgeting, but I am not going to talk about how to budget here because this is a matter of setting your priorities the moment you decided to own a home.

Why not release the stress in your budget? Your mortage interest should be paid on time. Here are undemanding ways on coping and paying for higher repayments before it is actually due:

Advice #1: Pay more!

Add extra dollars to your payment every month. This doesn’t have to be like hundreds or thousands more. Your mortgage payment can take you 30 years to pay and so, $5 dollars doesn’t take that much in your budget. It’s like paying off your mortgage a few months earlier.

Advice #2 Pay on time!

Everybody falls short financially. This means you can expect the worse in your budget. You can prepare yourself by saving before the rainy days come by doing so Prepare yourself by saving before the rainy days come. Paying on time or earlier is a smart financial move. Not paying on time for the first time might seem okay, but wait until it piles up then you will realize that missing one payment can put you off track. It will hard for you to get back and budget again this time. Besides, it will have an impact on your credit history.

Advice #3 Missed some Payments? Ask for a “hardship variation”

A hardship variation is a creditor right under the Consumer Credit Code. But before you apply for this privilege, you must check if the missed payments were due to valid reasons which can result to either short-term or long-term payment problem. If it has been a long-term problem, ask for some legal advice.