You would have to be living in a cave not to have heard about the “Fiscal Cliff” that will happen if Congress doesn’t come up with a financial deal by the end of the year. But another law is set to expire which is almost
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Archives for Consumer and Financial News
Which is Better, Short Sale or Foreclosure after Bankruptcy?
This has been a nagging question for many people faced with a house that is “under water” (not literally, though unfortunately some homes have been literally under water due to Hurricane Sandy recently). By “under water” I mean that more is owed on the home
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Problems with HAMP Program—Class Action filed against Wells Fargo
This is a familiar problem for many homeowners trying to modify their loans. They call the lender and the lender says that in order to modify their loan, they need to be behind in their payments. This happened too many times, and many of my
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Student Loans– A Looming Crisis
As the Presidential campaign hits the stretch run, both candidates are talking about their plans to help students and parents deal with the ever-increasing student loan problems. In August, the candidates expressed their opinions: http://www.huffingtonpost.com/2012/08/22/mitt-romney-obama-student-loan-debt_n_1820062.html No matter who wins the election, student loan debt is
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Tax Exemption on Forgiven Debt for Mortgages About to Expire
If you are like most homeowners struggling to keep up with your mortgage payments, you are looking for ways to lower the payment. If that doesn’t work, and someone owes much more than the house is now worth, people then look to give the house
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Study Faults Servicers Mortgage Modification Program Failures
No surprise here– if you are one of the millions of Americans who tried to modify your loan in the HAMP program (Home Affordable Modification Program) in the last 3 years of this program, you would have experienced this. The program promised much and delivered
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Having Problems Paying Student Loans– You’re Not Alone!
The fourth article in a recent series in the New York Times about soaring college costs and the debt that students and their families are trying to cope with. Now, collection agencies are getting in on the act. There are some options available for students,
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Why the Foreclosure Crisis is Still Dragging Us Down
This article is right on point. The president could have done more to try to stop the rising tide of foreclosures. He didn’t, because it was too risky politically. If he had done more and it worked, we may have been in a totally different
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Another Sports Star Bankruptcy- Jose Canseco – What do we learn?
In the world of big name stars and sports heros, there are plenty of stories of them filing for bankruptcy. The latest is the former rookie of the year Jose Canseco. It looks like he was “living large” for too long and had some bad
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Learn about New Consumer protection laws in Illinois
Illinois Governor Pat Quinn signed 2 new laws to help prevent consumer abuse. The first restricts the amounts of costs and penalties and types of home loans, to avoid some of the high-cost, risky, often unfair home loans that borrowers were sold before the home
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