Losing your home is a heart-breaking situation with many repercussions for the homeowner. When taken by surprise because a mortgage loan is sold off to another lender without notification of the homeowner, it causes an unfair advantage to the lender. A homeowner who...
Month: January 2012
There is hope for improving credit scores after divorce
Credit card debt and other money problems are prime factors leading to many divorces as spouses struggle financially in a poor economy. Some couples turn to bankruptcy as a solution to their money problems. But that can be a daunting step that leaves people with a low...
Justice for wrongful foreclosures is put on hold
Was your house foreclosed in error? Regulators ordered hundreds of thousands of mortgage foreclosures to be reviewed for errors, so many that the backlog is now more than several months. The delay insults injured parties for a second time, who are waiting to receive...
From ‘Show me the money,’ to ‘Show me a fresh start!’
Chapter 7 bankruptcy: it can be a chilling idea to those hesitant to ask for help. Some high profile people choose this path to redemption when their lives, and then finances, spin out of control. Recently, a very successful sports management figure (the man who...
Foreclosed houses may soon be up for rent
In case you haven't heard, renting is the new buying. With more and more houses being lost to foreclosure, fewer Americans capable of qualifying for new mortgages and many who do may be wary of investing in a new home that might be difficult to sell down the road....
Consumer credit numbers bode well for U.S. economy
U.S. residents may be saddled with too much credit card debt, but the way they are spending money today, you wouldn't know it. According to recent financial reports, outstanding U.S. consumer credit rose by $20.37 billion during November of 2011. That's the biggest...
Creditors going too far in debt collection efforts, part 2
In our last post, we explored some of the forms of creditor harassment that some people have had to face and many collectors have been forced to dish out. Many of the practices are illegal, and there is one major reason why creditors engage in harassing behavior....
Creditors going too far in debt collection efforts, part 1
When most people sign up for a credit card they do so intending on making timely payments. But things happen. Job loss. Shifting priorities. People find themselves facing more and more credit card debt and getting more and more collection calls. In part one of this...