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BD Nationwide Mortgage introduces a break-through second mortgage loan that is compatible with payment option first mortgages featuring options for fixed rate, interest only, and the controversial negative amortization. BD Nationwide is excited to release the Neg-Am Compatible Second Mortgage Loan. This unique home equity loan product allows homeowners to qualify for a cash-out second mortgage while keeping their existing payment option loan. This revolutionary equity loan can be subordinated to 100% combined loan to value behind a negative amortization existing first mortgage. This new home equity feature opens the doors for many homeowners who have found it very difficult to get a second mortgage or home equity loan behind any mortgage that has a negative amortization.

Payment option loans have been controversial in the mortgage industry because they are attached to volatile indexes in which the interest rates can adjust rapidly and the borrowers can find their mortgage payment increasing 100% to 200%.

Read Full Text… Review – Is Bankruptcy an Option for You?

Written by Tim Peak on February 25, 2011.

Each of these options is appropriate for different circumstances. Filing for bankruptcy does not mean that all of your debt is automatically wiped out. Sometimes, it is a restructuring of your debt, so you have a chance to repay it.

The median income for your state for different household sizes

Did you know that the median single earner income varies between about $32,000 and about $58,000 depending on which state you live in? Whether you qualify for filing for Chapter 7 depends on how your income compares to the median income in the state you live in.

Alternatives to bankruptcy

These should be looked at before you decide to file for bankruptcy.

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