Has a cushion of credit been key to your financial survival? In an interesting article entitled “3 Steps Back to the Sanity of Cash,” MP Dunleavey discusses 3 steps to your own personal bailout–making a transition from credit to cash or “real income living.” Get out of the fog of credit by asking one tough [...]
March 2009
This interesting video article by MSN Money discusses reasons for debt problems and outlines a short plan of attack for facing your debt issues head on. According to the article, a good start to confronting debt problems is to: Write down your 5 biggest money problems. Brainstorm possible solutions. Choose a solution and implement it. [...]
New companies have sprung up all over the country, particularly in those areas where foreclosures have been high.  These companies focus on helping a homeowner obtain a modification of their mortgage to avoid losing their home. The problem is some of these “services” are simply scam artists trying to make a quick buck by preying [...]
Mortgage-backed securities (MBS) are divided into value-based groups, known as tranches. Senior investors, who are typically financial institutions, own the AAA tranches that are insured against default by AIG, and they WANT to foreclose on the Middle Class so that insurance payments kick in. Conversely, the junior tranche investors want workouts with homeowners because their [...]
Grueneich v. Doeling, 2009 WL 605774 (8th Cir.BAP, Minn., March 11, 2009), held that a chapter 7 bankruptcy debtor can, in good faith, claim an exemption in an unknown amount (“0.00″), if the debtor has good reasons for doubting the value of an asset. In this case, the Eighth Circuit Bankruptcy Appellate Panel reaffirmed the continuing [...]
A Washington bankruptcy court recently agreed with a pro se debtor that mortgage servicing agents do not possess legal standing to bring relief from stay motions in chapter 13 cases. In re Jacobson, 2009 WL 567188 (Bky.W.D.Wash. March 6, 2009), involved a chapter 13 bankruptcy debtor whose mortgage servicing agent filed a motion seeking an order from [...]
