Subprime brokers now in the loan modification business, consumers duped by promise of security for homes. Most of us have seen at least one infomercial on TV that has tempted us to pick up the phone an order a product. We are tempted by the hope that the product will make our lives easier or [...]
Legislators are promising to revive legislation that would allow homeowners to modify their mortgages during bankruptcy. President Obama's voluntary foreclosure prevention program has failed to deliver and many homeowners and legislators are ready to get more aggressive with mortgage lenders. Last year it seemed almost certain that legislation would pass allowing homeowners to modify their [...]
As credit availability diminishes, credit scammers are having a feast at the expense of many Americans who desperately need access to credit. One of the most common credit scams is the "advance fee loan." The Way It Works Credit scammers target consumers who are having financial problems, facing foreclosure or delinquent on their credit card [...]
Car title loans are marketed by creditors as a savior for the little guy; but these high interest loans are much like payday loans in that they can carry a triple-digit annual interest rate and are very difficult to repay in full when you're already struggling financially. Let's take close look at car title loans [...]
In the Chapter 13 bankruptcy case of (Smith, David B. and Susan L.; In re) the bankruptcy court denied a motion to approve/disapprove an agreement to modify a residential mortgage. The bankruptcy case details: "The Chapter 13 debtors asked the bankruptcy court to approve a modification of their home mortgage. The lender agreed to reduce [...]
In the bankruptcy case of Kurak, Debra A.; In re (Agin, Trustee, v. South Point Inc.), a mortgage was ruled invalid by the bankruptcy court because it was materially altered prior to the filing. The details of the bankruptcy case: "The Chapter 7 debtor scheduled an interest in real property that was subject to a [...]
According to an article in the Dallas Morning News , only about 7 percent of small businesses added to their workforces in the second quarter of this year, while 24 percent implemented job losses. The article said: "Small-business owners who have cut jobs over the past year are in no hurry to start hiring again [...]
Your credit score is calculated by factors that are often counterintuitive. One of the largest problems people face when trying to improve their credit is that they are ill informed. You heard your friend so and so say that this could help your credit, or your other friend said that could help your credit. Well [...]
In the bankruptcy case of (Moffitt, Donald E. and Phyllis J.; In re (Mof¬fitt v. America's Servicing Co.)), the bankruptcy court allowed the debtor to file a claim against a mortgage servicer because of undisclosed fees and charges. The details of the bankruptcy case: In this Chapter 13 bankruptcy case the debtor's bankruptcy plan included [...]
Many homeowners fighting to save their home from foreclosure are often stuck in a frustrating tangle with home mortgage servicing companies. Many homeowners facing foreclosure get lost in a maze of call waiting, serial transfers and even "unintentional" disconnects while attempting to modify their mortgages. Here are a few tips for handling mortgage servicing companies: [...]