Do Loan Modifications Really Prevent Foreclosure? A growing number of people who were accepted into the trial loan modification programs offered earlier this year with the belief that the low rates offered to them would be made permanent by their bank, are finding out that the bank still decided to foreclose on them. Treasury statistics show that only about one-third of the nearly 1.4 million homeowners accepted into the government’s payment reduction program over the past year have had their reductions made permanent. A director at the Treasury Department’s Homeownership Preservation Office, said banks were encouraged to offer trial modifications but the banks were under no obligation to make trial modifications permanent until this June. Nothing like the old bait and switch. Thanks, that’s like being set up on a date with Katie Holmes, only to knock on the door and find you’re taking out Larry Holmes. If you’ve had a loan modification, let me know how it went in the comments section below.

The residents of Chandler, AZ may need to refinance and pull some cash out to help expand their homes thanks to the Heart Attack Grill. The restaurant that serves the 8000 calorie quadruple bypass burger and flatliner fries has announced that for a limited time, customers over 350 lbs eat for free. No kidding it’s for a limited time, because if you keep eating there, you WILL have a limited time. Make no mistake about that. So,Heart Attack Grill customers, for a limited time, I’m offering a 3/1 ARM at 3%. You keep eating at the Heart Attack Grill regularly and I guarantee you won’t see more than 36 payments.

US News & World Report put together a list of five ways that you may be able to enjoy the benefits of todays low interest rates.

5. Buy a home

The combination of low rates and falling real estate prices make for a perfect time to buy a home. Some say home values may still fall over the next year, but rates are volatile, so knowing exactly when to buy can be a bit of gamble.

4. Get free money from your credit cards

Today, the best balance transfer offers give you interest free money for 21 months. Just a year ago, the best deal was for just 12 months. And on top of the longer transfer period, balance transfer fees on these offers are down to 3 percent from what use to be 5 percent.

3. Refinance your car loan

While most think of refinancing a mortgage, many can save a substantial amount of money by refinancing your car loan

2. Refinance your mortgage

Refinancing a mortgage is of course a well known way to save a lot of money over the life of your home loan.

1. Consolidate your debt

Finally, debt consolidation can be a great way to take advantage of low rates. By combining high interest car loans, school loans, credit cards, and other debt into a single low interest loan, you can not only save money, but also reduce the number of payments you make each month. So if you or someone you know wants to consolidate debt, please take out your cell phone, look up my number and call me immediately before rates go higher. Thanks for watching.