November

Blog Posts in November, 2012

  • 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 ...