Current Mortgage Rates

Saturday, October 11, 2008



Rather than file bankruptcy, one may attempt to consider settling your unsecured debt at a reduced amount. It is unlikely that an individual could do this independently but there are companies that will help you negotiate with your creditors. Is it important that these negotiations are handled properly and the consumer should seek professional help? As in all these actions there can be a negative effect on one's credit rating. This alternative enables unsecured creditors to keep control outside the formalities of a bankruptcy court, tending to be less expensive, more efficient, and less cumbersome than a Chapter 11 filing.

Improper negotiation in an out-of-court settlement can hurt your credit if not performed correctly. Speak with a specialist who can handle this type of bankruptcy alternative before you attempt it on your own. Help is out there, it is just up to you to take advantage of it.




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Current Mortgage Rates*

Loan Type
National Average
30-yr. fixed6.12%
30-yr. fixed jumbo7.62%
15-yr. fixed5.88%
15-yr. fixed jumbo7.12%
7/1 ARM6.25%
5/1 ARM6.00%
3/1 ARM5.88%
1-yr. ARM5.50%
1-yr. LIBOR ARM6.12%
10/1 ARM8.25%
40-yr. fixed7.12%
*Mortgage Rates Updated: 10/07/2008