I highly recommend this great article in the New York Times about bankruptcy and the elderly. Everyone should understand the issues related to protecting your own or your parents’ hard earned retirement funds when faced with a financial crisis.
According to an article in the New York Times, Bank of America and JP Morgan Chase are finally agreeing to properly identify debts that were discharged in bankruptcy.
Ten years after the passage of the “new” bankruptcy law we find a new class of Americans “the permanently insolvent”. You won’t find reference to this group in any financial magazine. But, hundreds of thousands of Americans are in a position of being hounded mercilessly by debt collectors, but unable to afford to file for […]
Yet another loan workout or modification scam. I am disgusted by the number of calls we receive every week detailing a company or lawyer who takes someone’s hard earned money and fails to deliver on their promise to modify the home mortgage.
I just received an e-mail from a gentleman who filed a chapter 13 bankruptcy, but later decided to dismiss his bankruptcy. He was wondering if the Bankruptcy Court could instruct the credit reporting agency to remove the bankruptcy from his credit report. Unfortunately, the answer is an absolute and resounding “NO”. A bankruptcy will stay […]
Housing counselors can provide advice on buying a home, renting, defaults, foreclosures, and credit issues. Advice from housing counselors can be provided at little or no cost to consumers.
Why is this “ground breaking”? This is the first time that payment processors are held to the same standard of responsibility as the debt collectors.
According to Bloomberg News: Fannie Mae will begin bulk auctions of mortgages, including some sales targeted for non-profit groups and small investors, as Fannie Mae moves to reduce the number of non-performing loans “sour mortgages” on its books.
On March 10, 2015 the White House announced that President Obama would sign a Presidential Memorandum directing the Department of Education and other federal agencies to work across the federal government to do more to help student loan borrowers afford their monthly loan payments