Daily Archives: March 2, 2009

Judicial Mortgage Modification Bill

The banker opposition to judicial mortgage modification examined in the Huffington blog.

How to support the bill?  NACBA has a toll free number, what to do explained below:  NACBA has set up a toll free 877 number that can be used to reach Congressional offices directly.  Please help spread the word so that we can let Congress know of the wide-spread support for H.R. 1106.

1. Phone 1-877-354-4958 (between 9am and 6pm Eastern time.) Callers will be given specific suggestions for the substance of your phone conversation and prompted to enter your zip code.

Depending on the caller’s Congressional district, the call will be routed to the office of the caller’s Senator, House Rep, or the White House.

2. Get word out to your clients, staff, family, friends, and colleagues who might also be interested in calling in support of H.R. 1106.  Please email your contacts today to ask them to phone in on our toll-free 877 number.

Foreclosures, Credit Card Defaults Rise

January 2009, 50% more homeowners at least one month behind on their payments, compared to January, 2008, according to Equifax. Auto loans?  Same trend, 60 day defaults up 18.9% year over year, to 1.9% of all auto loans. Credit cards?  More of the same, missed payments up 29.5% to 4.17% of all cardholders. These statsContinue Reading