January

Blog Posts in January, 2016

  • According to an article published by Consumerist, if a company causes harm to consumers, that company cannot preempt an entire lawsuit by offering victims full settlements in advance. The United States Supreme Court made this decision on January 20, ...
  • America's Foreclosure Crisis is Far From Over

    In our previous blog, we talked about the $5.1 billion settlement that Goldman Sachs is responsible for paying as recompense for its part in the 2008 mortgage scandal. As part of this settlement, $1.8 billion is to be earmarked to help struggling ...
  • Are Income Taxes Dischargeable in Bankruptcy?

    Contrary to popular belief, income taxes can be discharged at bankruptcy under certain circumstances. In fact, local, state, and federal income taxes can be discharged in Chapter 7, Chapter 11, and Chapter 13 bankruptcy, along with interest and ...
  • Goldman Sachs to Settle Federal Probe for $5.1B

    Investment bank Goldman Sachs Group is set to settle a government probe into how it handled mortgage-backed securities to the tune of $5.1 billion dollars. The bank will pay a civil penalty of $2.39 billion, $1.8 billion in consumer relief, and ...
  • Here's What You Should Know About Reverse Mortgages

    Reverse mortgages are mortgages available to older adults (age 62 and older) that allow them to borrow money based on the value of their homes. By accessing the equity in their homes, the idea is that seniors will be able to eliminate their monthly ...
  • FHFA Finds Principal Forgiveness Ineffective

    Are you an underwater borrower? Freddie Mac and Fannie Mae have several tools that may be useful in these situations, one of which is known as principal forgiveness. In the context of Home Affordable Modification Program Principal Reduction ...
  • Most Americans Unable to Handle a $500 Surprise Bill

    The U.S. economy has recovered from the latest recession, but many Americans are still living paycheck to paycheck, putting them one unexpected bill away from a major financial catastrophe. According to an eye-opening new survey conducted by ...
  • What is a Designated Lender Counsel?

    According to an article published by The New York Times, titled “A Growing Conflict in Wall St. Buyouts,” it is crucial for people to understand the term “designated lender counsel.” In the past few years, a new relationship ...