Inflated appraisals are one of the many abuses of predatory lending. Lenders and brokers earn more from higher loans, which are based on inflated appraisals, because of the commissions, fees, and interest. Even the borrower benefits in the short term from borrowing more than otherwise would be, or should be, available. But things can go south in a hurry. [...]
April 2009
The mortgage modification bill is in the news again. Republicans and a group of Moderate Democrats Senators, opposed to passage of the “Helping Families Save their Homes in Bankruptcy Act of 2009,” are likely to push the bill to a vote this week on the Senate floor. This is, unfortunately, bad news for those [...]
You’ve seen commercials that promise that you can get out of debt without bankruptcy. It’s possible. But not easy. And you’ve probably heard from people like Dave Ramsey that bankruptcy is a horrible evil and that you should avoid it at all cost. Oddly enough, Dave Ramsey himself filed a bankruptcy case years ago when [...]
Part8 of my review of Kevin Trudeaus book, Debt Cures They Dont Want You to Know examines Chapter 13: Class is Now In Session. The purpose of the review is to examine whether Trudeau, who has had extensive involvement with credit card fraud and the Federal Trade Commission for some of his previous books, makes [...]
If you are filing a chapter 13 bankruptcy I strongly encourage you to use wage garnishment instead of a direct payment as this will increase your success rate. Why, because if you use a wage garnishment you are forced to place yourself on a budget in order to make it through your chapter 13 bankruptcy. [...]
How much will my chapter 13 plan payment be? Understandably, this is the question that figures prominently in people’s minds as they contemplate a chapter 13 bankruptcy filing. While plan payments can often be projected with a reasonable degree of accuracy, there is a lot that goes into figuring what it will be. There are [...]
