American Banker is reporting that the number of home foreclosures could soon “explode” as a moratorium that Fannie Mae and Freddie Mac put on foreclosure sales and evictions in late November is scheduled to expire. At the time of the November 2008 moratorium Freddie Mac had somewhere between 5,000 to 6,000 loans scheduled for foreclosure, [...]
January 2009
In an economy where credit is vanishing even for the solvent, the debt collector’s last threat, to ruin your credit if you don’t pay, has lost its sting. And it may qualify the collector for a prize for the stupidest threat ever. Up til now, the consumer has been so obsessed with their credit record [...]
Tell your bankruptcy attorney if you are expecting an income tax refund or economic stimulus payment.
It has been said that one in three people in the United States think that winning the lottery is the only way to become financially secure in life. Counting on winning the lottery to solve debt problems is not a realistic proposition. Consider this: The odds of getting struck by lightning in your lifetime: 1 [...]
One of the stranger provisions in the proposed Helping Families Save Their Homes in Bankruptcy Act of 2009 is the requirement that the debtor certify that he attempted to contact the “holder” of the claim to discuss mortgage modification within 15 days prior to the commencement of the bankruptcy case. First of all, who is [...]
A Las Vegas Jury recently awarded a family $3.4 million in a wrongful foreclosure case. Â As you can guess, this wasn’t your everyday foreclosure. Â It kind of reminds you of the McDonalds hot coffee case. Â After testimony, the Jury found that Countrywide Home Loans, Inc. wrongfully foreclosed on the Plaintiff’s condo and awarded the Plaintiff [...]
