With the start of a new year, it is a good time to verify how much money your mortgage lender paid to the (property) taxing authorities – especially if you are claiming an “Over 65″ and/or “Disabled” homestead exemption in Texas. Often times I discover a mortgage company pays more taxes to the taxing authorities [...]
Friday, January 2, 2009
I have made a New Year’s resolution to follow Dave Ramsey’s advice to strive for a credit score of 0. And, I am encouraging my clients to do the same. Of course, this means down the road we will have to pay cash for everything – including our vehicles – but getting out of debtor’s prison will [...]
Recently I received form letters from a law firm representing HSBC Bank Nevada for Best Buy. The letters stated: “Please be advised that our client holds a purchase money security interest in consumer goods in regards to the above-referenced claim.” It then has three options: (1) Debtor will reaffirm; (2) Debtor will make a cash [...]
A consumer called me today inquiring as to what would happen if he didn’t pay the deficiency (the amount owed after subtracting the money the creditor received when they sold the vehicle to someone else) owed on a vehicle he had surrendered to the creditor. I explained the creditor could sue him and obtain a judgment. Well, [...]
This is part II of this article. Â Part IÂ should be reviewed prior to starting here. If you add a tax lien to the fact that many individuals no longer have equity in their real estate, you will need to ask yourself one simple question: Â Why would I lend money to an individual when there is [...]
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