The arrival of yet another government-initiated plan to manage out of control student loan debt has attracted more fanfare than it merits. The new plan is hailed as a “life preserver” for student borrowers drowning in high student loan debt by the finance and education industries. The article hyping student loan repayment plans found on [...]
June 2009
I’ve been having more and more potential clients who are older come see me asking about bankruptcy. Sometimes, bankruptcy is a good solution for these people. Sometimes though, bankruptcy is not a good option. And quite often, very few good options remain to deal with your debt. Recently, I spoke with an older person who wanted to know [...]
A homeowner threatened with foreclosure should talk to a lawyer, and do it right away. Talking to a experienced foreclosure defense lawyer immediately after receiving the first notice may pay large dividends. Despite a default in payment homeowners often have defenses under state or federal law. There are a number of lawyers in Mortgage Law Network who can quickly evaluate your [...]
Your decision to file for bankruptcy should involve a great deal of thought and discussion with both your loved ones as well as your legal counsel. Once filed, a bankruptcy carries with it some significant consequences. First, your credit will be affected if you are bankruptcy for one day, one month, one year, or longer. [...]
Effective July 1, 2009 and continuing at least until June 30, 2010, all new foreclosure actions filed in the State of Connecticut must pass through the foreclosure mediation program. Initially established last year by the General Assembly, the mediation process was voluntary and slowly gained success as the program matured. Until July 1st, homeowners must [...]
The Home Affordable Mortgage Modification Program called HAMP, and the companion home refinance program (HARP) applicable to loans held or securitized through Fannie Mae and Freddie Mac, are touted by the Obama Administration as having the potential to help up to nine million homeowners. On paper at least, both programs seem to have features providing real [...]
