Sometimes, even today, clients have a have a house worth a lot more than the mortgage – the house has equity. Yet they face massive debt. They want to save their home. In Illinois and in Wisconsin, the homestead exemption may not be enough to protect all of the equity, unlike Texas or Florida which [...]
March 2009
In normal times, I rarely see a client who can benefit from a reverse mortgage. These are not normal times. Twice this week, I have meet senior citizens who have little or no mortgages on their homes. That’s usually a very good thing. But these senior citizens have very minimal income – only social security. [...]
Transunion has been issuing quarterly reports tracking the delinquencies of different loan payments.  Credit card payment delinquencies increased by 11% between the 3rd and 4th quarter of 2008. Mortgage payment delinquencies have increased by 53% between the end of 2007 and the end of 2008. Finally the auto loan payment delinquencies rose by 7% [...]
Part 6 of my review of Kevin Trudeau’s book, “Debt Cures “They” Don’t Want You to Know” examines Chapter 8 (Highest Points Wins), 9 (The Report); 10 (Knowing the Score) and 11 (Show Me the Money). The purpose of the review is to examine whether Trudeau, who has had extensive involvement with credit card fraud [...]
In Texas, February foreclosure filings dropped 14.1 percent from February 2008′s number according to RealtyTrac, a foreclosure listing firm. However, February 09′s numbers increased 7.9 percent from January 09 totals. And foreclosures for homes above $200,000 have increased in Bexar County (San Antonio). According to Foreclosure Listing Service Inc. out of Addison, foreclosure postings rose [...]
You can buy a new car even though you are filing Bankruptcy (assuming, of course, that you can make the car payments). First of all, if you are going to file a Chapter 7 Bankruptcy, and know that you will need a new car in the immediate future, it’s perfectly legal to buy one before [...]
