Governor Schwarzenegger of California signed into law a 90-day moratorium on home foreclosures.  That’s great news for families struggling to keep their homes, but does it do enough? A close examination of the law shows there are some significant loop holes for mortgage companies.  They don’t have to comply with the moratorium if they are [...]
February 2009
With increasing frequency, credit card companies are tracking where customers shop and are penalizing them for purchases that may signal financial difficulties. If you use your credit card at a red-flagged establishment such as the auto repair shop, the dollar store, or discount stores, the credit card company may reduce your credit line and/or increase your [...]
I don’t frequently post a video on Mortgage Law Network. This one time, I ask you, dear reader, to take about 7 minutes to look at this video. It explains, very simply, why we are in the mess we are today. It explains how sub-prime mortgage loans have driven down the value of real estate [...]
If you were in foreclosure and someone offered you a chance to save your home, would you turn your back and walk away? Well, that’s exactly what’s happened in Frederick County, Maryland – twice. The Frederick News-Post reports that a recent foreclosure prevention seminar was cancelled due to lack of interest – in spite of [...]
After years of mailing over a billion credit card applications a year, the credit card companies may be turning over a new leaf. The offer from American Express: get up to $300 if you pay off your balance and close your account. The pendulum swings in the other direction. The reason? As with mortgage debt, [...]
More than 1 million households would benefit from seeking protection from creditors under a proposed law that would let bankruptcy judges modify mortgage terms
