When President Obama said he wanted Change, I don’t think he understood the ramifications of his choice of words. In the last few weeks, I have heard of more businesses closing their doors because of lack of credit and cash flow, and I have witnessed more people paying with pockets of change than I have [...]
September 2009
As the economy stays in the toilet, one big question for an American Family is: How are we going to pay for College? Well, assuming that there is no pre-paid college plan or a 529 Plan, this decision is going to be whether you take money out of savings or finance the education. This is [...]
In the last few months, I’ve witnessed a very disturbing trend in Florida. Â When a mortgage company starts a foreclosure, one would think that they have the intention of taking back the home, putting it on the market and selling the real estate. Â In other words, protecting their investment by dealing with the distressed real [...]
What does pet ownership have to do with filing bankruptcy? It is just one of the many expenses of life that most of us underestimate. Unless you understand and are prepared for the real cost of owning a pet, you are in for a shock and could literally go bankrupt. I’ve seen it happen many [...]
There are two reports that anyone involved in the mortgage industry should be aware of: Â The first one was published in 2000 by the HUD-Treasury Joint Task Force entitled “Curbing Predatory Home Mortgage Lending” (June 2000, 119 p.)Â This report proposes a four-point plan to address predatory lending practices, identifies and defines four types of [...]
Once bankruptcy is filed, creditors can’t try to collect a debt that was owed at filing and this protection is automatic and immediate, at the instant a case is filed.  Any action by a creditor to collect from someone in bankruptcy is against the law and subject to legal action for damages. Once a [...]
