NLIC.org

Bill Said:

bad credit, in debt, need a loan for $15,000.00 would like to find a collateral assignment lender (Life ins.)?

We Answered:

There are plenty of places that offer loans for people with bad credit with no-hassle applications and easy requirements.

Some of these lenders even offer 1 minute approvals, and have both secured and unsecured loans, depending on your need and situation. Check the page listed below, it has information and bad credit lenders listed off and on.

http://www.axalda.info/bad-credit-loans.…

Lois Said:

How would foreclosure and/or bankruptcy affect securities and life insurance licenses?

We Answered:

Have you considered a shortsale? When people are facing foreclosure the first thing to do is contact the lender. Speak to them, and see if something can be arranged in lieu of the foreclosure.

If it's too far in the game contact 1-888-995-HOPE (888-995-4673), you can google them as well.

In regards to your licensing. Anytime something like this presents itself you need to speak with someone in your compliance department. They may require that you disclose it to the NASD and other agencies, just so they have it on record.

Sara Said:

where can I get a loan secured on my life insurance?

We Answered:

You CAN'T, unless you have a 'cash value' policy that allows loans from the policy itself. In that case, you are being ripped off and are better of cashing out the policy.
The call you received was either a flat out scam, or someone in the business offering to BUY the death benefit of the policy hoping you die soon.

Sheila Said:

My son died, no life insurance. Lender trying to foreclose on wife?

We Answered:

I worked at a mortgage company for a while developing their software for default management (everything past collections, like foreclosure, etc.). Different companies will have different policies, but I can tell you that (at least for the one I worked for) they don't want you to lose your home because they actually lose money when it goes to REO (when a bank formally takes back the property). What I would do is call their customer service and request to speak to a "home retention" or "loss mitigation" (or something like that, they have different names in different companies) specialist and see what they suggest.

The stupid thing is, a lot of times they can't do anything until you've actually defaulted and are in the midst of losing your home, then the default management team steps in and takes steps to put you on a plan and works with you to see what they can do to save your home. Dumb. Dumb. Dumb. But that's the way it is.

Then you really only have 2 options:
1) Go through that process. They can't kick you out of your home for a long long LONG time... and even when they pressure you and pressure you, stay put. They will eventually offer you "cash for keys" which is basically them paying you to leave (you can negotiate a dollar amount that you think is fair, but go for at least 2K, or enough to move into an apt for a couple of months, more if the property is worth a good amount).
2) Go through that process and get past collections (3 months for most mortgage companies, 2 months for WaMu) then you get to speak to ppl who care about you keeping your home, and set up a plan with them. If there's a way, they will help you find it.

I wish you the best of luck and hope that this helps.