This is the conclusion of a two part series, part one on bankruptcy mortgage options can be found here. Now, you cannot force the mortgage company to foreclose, or take your house back. They might agree to a short sale, but, as with a modification, you cannot force it on them. They might accept a…
Tag Archive: banking
More Creditor Fraud?
Now, if you or I were owed $45.9 billion dollars, in a bunch of states, by a bunch of people, and had over 1,000 lawsuits going to get some of that money back, what would it mean if, all of a sudden, we dropped those suits? It would mean we got religion, decided…
The Truth About The Foreclosure Crisis
An essential part of the real estate bubble was mortgage securitization, the process by which mortgage loans were sold into investment trusts from which bonds were sold. It was mortgage fraud from A to Z, from the selling of mortgage backed securities trusts, before the trusts were full of mortgages. From the ratings agencies, assuming…
The Modern Rules Of Home Financing
I love reading the Christian Finance blog, but have to vociferously disagree with part of a recent post there, the Home Financing part of which reads as follows: Enough can be determined by what the bank will loan us. Thus, we buy as much house as the bank is willing to lend us. According to…
Best Bank To Open A New Account In?
Which bank should have your money? Banks are back to bidding for new customers, many offering cash for opening a new account. Lots of them require you to set up direct deposit of your paycheck. So, if you are like me, and do not get a paycheck, no go. Mark Riddix explained what he researched…
Resolutions For Your Savings Account
Good for you, you started that savings account! Does it have a debit card attached to it? ATM access? Online access? A branch close to where you live and/or work? Then ditch that one, and find a bank that is farther away. Seriously. Do not get an ATM card, do not have online access, do…
Payday Lending V. Credit Cards
As banks tighten lending standards, or, should I say, go back to having standards, they turn down more borrowers. Over the last 20 years, a new industry has sprouted in between traditional lenders and traditional oan sharks a la Tony Soprano. Payday lending. Some states, not Michigan, have gotten rid of these parasites. They get…
Spending On Your Kids, How Much?
Financial problems can be consuming and distracting. A client included, among the understandable issues of IRS tax liens, and not enough income to pay expenses, four children who will be disappointed at Christmas. This set me pondering. As a parent, I never considered it my duty or obligation, and certainly not, my goal, to avoid…
Scams On Saving Your House From Foreclosure
Desperate homeowners facing foreclosure can be easy targets for con artists. They steer their victims away from bankruptcy attorneys: “Don’t ruin your credit!” Just like: “Contact us for free information about the secret the credit card companies don’t want you to know about!” Makes my blood boil. What sounds too good to be true, well,…
What Can You Do To Save Your Home From Foreclosure?
The housing market gets worse, more foreclosures happening, and more foreclosures coming. Household wealth declines, another predictor of increased bankruptcy filings to come. Even the rich and famous are joining in, word is Mel Gibson facing foreclosure on his Malibu, California properties. People are waiting for loan modifications to save their home are forced into…
