Grandfather and child

Too Poor to File Bankruptcy – a New Class of Americans

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 […]

CFPB Issues Guidance on Housing Counselor Requirements

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. Related Post CFPB Proposed changes to our Mortgage Servicing Ru… Scam Arrest Warrants: Normally You Cannot Be Arres… $14M Reimbursement to Payday Loan Borrowers Flagstar Bank […]

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CFPB Launches Massive Lawsuit – Debt Collectors, Payment Processors and others

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.  Related Post CFPB Issues Guidance on Housing Counselor Require… Reverse Mortgages & Their Pitfalls 20% of Consumers Have Credit Reporting Errors 47% of Home Buyers Do Not Compare Mortgage Rates […]

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Fannie Mae Auctions “Sour” Mortgage Loans

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. Related Post Citigroup to Pay Fannie Mae $968M for Loans Streamlined Modification Initiative HSBC sued by NY […]

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