Some borrowers run into trouble with their mortgage companies that is not of their own doing. One thing the mortgage servicer likes to say is that it isn’t their problem, the prior servicer handled that – and the borrower is still in default or owes some fee. However, the subsequent…
Home sellers and home buyers are likely both waiting for some kind of change in the financing markets right now. Those homeowners locked in with low rates do not wish to sell, but cannot maintain a standard of living with their current income and increased expenses. They may not qualify…
One of the early and frequent arguments made by opposing counsel in our private student loan discharge adversaries in bankruptcy is that the student loans were made for an educational benefit and thus are excluded from discharge. Specifically, Section 523(a)(A)(ii) exempts from discharge “an obligation to repay funds received as…
Let’s say you have negotiated a settlement with a creditor. What should you include to help ensure that your credit is the best it can be? First, under the Fair Credit Reporting Act (the “FCRA”), a creditor is not required to report anything, but what it does choose to report,…
Stuck in a timeshare (or nowadays they are called vacation clubs or vacation ownership plans) you can’t get out of? You can get rid of a timeshare in a bankruptcy. If the timeshare is a contract agreement for points etc., then the contract can be rejected as an executory contract. …
Supposed a foreclosure lawsuit is filed against you. You file an Answer. The plaintiff files a motion for summary judgment quickly. New civil procedure rules require a homeowner to file his or her defense 20 days before a hearing. Most people are unware of that rule and lose. Even if…
Some of you may have heard that the May 1 deadline to consolidate older FFEL federal student loans to the newer Direct student loans for the one time account adjustment has just been extended until the end of the year. While that initially seems like great news, why is it…
Something going around one of the listserves I monitor daily is how debt settlement or debt consolidation companies are a sham. The facts for this one: (by the way, the client provided a copy of the written agreement to the attorney so the fees and proposed settlement amounts were verified)…
You can bounce back from bankruptcy way more quickly than you think. For instance, debtors who file bankruptcy can qualify for an FHA loan in as few as two years, or a conventional loan four years after filing. What about credit scores? They can and frequently do go up right…
The deadline to consolidate FFEL loans to Direct loans under the IDR Waiver program requiring a one time account adjustment has been moved from May 1 to the end of the year. This takes some pressure off for sure — but it’s still a good thing to do now rather…