2012

Blog Posts in 2012

  • Over the course of this year, I have written about the Independent Foreclosure Review several times. In February, I wrote about the job postings for file reviewers.Just last month, I wrote about the auditors who are making some serious profits off of ...
  • The deposition of Glenn Hubbard has been making the rounds this week. If you have ever watched the documentary, Inside Job, then you may be familiar with Glenn Hubbard -- he is the one who tells of an interviewer saying, "This isn't a ...
  • How Identity Theft Happens

    With the New Year approaching, many people take "out with the old and in with the new" a bit too far. If you are doing your spring cleaning early, you should be particularly careful to shred any documents that contain personal information. ...
  • As reported by David Dayden at Firedoglake, short sales have increased significantly in the third and fourth quarters of 2012. This is largely due to the fact that 1) the National Mortgage Settlement incentivizes short sales; and 2) the tax exemption ...
  • Correcting Your Credit Report Can Involve A Lot Of Work

    Many consumers think that fixing errors on their credit reports is as simple as filing a dispute online. After all, Transunion, Equifax, and Experian provide the option, so it must be that simple, right? Not really. The credit bureaus spend very ...
  • In 2007, President G.W. Bush signed the Mortgage Forgiveness Debt Relief Act into law. The Act exempts forgiven mortgage debt as the result of a foreclosure, loan modification, short sale, etc. Most people aren't aware that the IRS considers ...
  • The FTC and the Consumer Financial Protection Bureau have announced that they are beginning a broad series of investigations into potentially deceptive mortgage ads. Given that the CFPB has been a highly aggressive regulator so far, it is likely that ...
  • Holiday Spending and Bankruptcy

    As we head into the winter holiday season, many consumers increase their spending. For consumers waiting for the New Year to get a fresh start in bankruptcy, the holiday shopping season poses some risks. Since the Bankruptcy Abuse Prevention and ...
  • Has There Been Significant HAMP Oversight?

    It is pretty well-known that HAMP has not been the government's most successful program. Although it was expected to assist millions of homeowners, the program has only recently broken the 1 million mark and has barely spent a fraction of the ...
  • Non-Profit Seeking To Buy and Forgive Debts

    An offshoot of Occupy Wall Street is organizing to purchase and forgive bundles of debts. The group, called Rolling Jubilee, will be raising funds in order to purchase distressed debt. Distressed debts are generally accounts that have been delinquent ...
  • 1 in 98 Chicago-area Homes in Foreclosure

    According to RealtyTrac, 1 in 98 homes in the Chicago-Naperville-Joliet Metropolitican Statistical Area are in foreclosure. To make matters worse, foreclosure filings are up 25% from one year ago. With the news media generally reporting on a slowly ...
  • Those of you who have been following the foreclosure crisis since the beginning may recall that the Office of the Comptroller of the Currency entered into a settlement with 14 mortgage servicers. As part of this settlement, the servicers were to ...
  • I recently read this article about Tom Pavelka, an Ohio resident with a near-perfect credit score (848/850). Although Mr. Pavelka and his wife have a very comfortable household income, some of Mr. Pavelka's credit tips are worth reading because ...
  • It is an unfortunate truth that some couples facing financial hardship are also considering dissolving their marriage. Here are five things to consider if you are in this situation. 1. Joint debts are easier to clear up with a joint bankruptcy ...
  • The Consumer Financial Protection Bureau is now accepting complaints about credit reporting via its online tool. These complaints are actually reviewed -- consumer complaints played a role in the the three credit card settlements brokered by the CFPB ...