is my mortgage going to be affected if by debt settlement?

No, your mortgage won't be affected because of the debt settlement plan. Calculate your total income after deducting the expenses. Give your mortgage payment the utmost importance. The amount you save after making the mortgage payment will be used towards the debt settlement program.

Make sure that your settlement company is able to work out the negotiation with the creditors. The credit company can file a case if they are not getting their money. Your documents with the settlement company should be enough to prove that you are not running away from your debts.

Let's not think too far at this moment. Make sure you have the right settlement company who will negotiate with your creditors and give positive results

im aware that with debt settlement my credit score will be affected, so after my 2 years fix rate and im still on the debt settlement program.. how will this affect my apr for the new mortgage loan and also can i get into debt settlement right away even tho im current with all my bills?

The accounts need to be in default for using a debt settlement program. It's like your creditor needs to realize that you are unable to make the monthly payments at the existing interest rates and have gone far behind in the payments. If you remain current, there is no financial problem because of which you are considering your accounts to be settled.

The creditors report the accounts with the bureaus. Your settlement company can negotiate for a fair reporting so that your scores aren't affected in the long run. Under the normal procedure, "settled" is going to show up in the credit report. There has to be sound re-negotiations with the creditors if you want to see fair reporting with the bureaus.

If you currently in a 2 year fixed, and it's due to adjust within the next few years, you need to refinance it in to a permanent fixed rate before settling with your creditors. Once your 2 years are up, your payments will go up, and if your credit is hurt by a debt settlment, you might not be able to refinance, and you will be on the hook for that higher mortgage payment.

Walter