Just this past week, the Bank of America Corporation lost a bid to dismiss a series of legal challenges that financially troubled homeowners in 19 states wish to bring against the bank.  Recently, a US District Court judge in Boston ruled against the lender in another, similar case. The case that is being brought against  … Read more

It’s no secret that many people are trying to get out from under the gun of foreclosure in the recent market.  One way to avoid the smirch of foreclosure on your financial record is to consider doing a short sale – that is, selling the house before the bank takes it in foreclosure.  Typically when  … Read more

I am drowning in credit card debt. How does a credit card negotiation work? Is a debt settlement company my only option? Professional debt settlement is an option, but it is not your only option. Most consumers don’t know that they could attempt to do debt settlement with their creditors as individuals. There are advantages  … Read more

Short selling can be a stressful and demeaning time for anyone who would otherwise be faced by foreclosure. If you are in a short sale negotiation, or are considering a short sale to avoid foreclosure, hold your ground with lenders, brokers and potential investors. Keep in mind that the mortgage crisis grew from compounded, irresponsible  … Read more

While similar decisions have been going on across the country, the Nevada Supreme Court has sided on three separate occasions with homeowners who claimed that their banks foreclosed on their homes without following the rules correctly. Lawsuits Against Lenders On more than one occasion, the court found the bank guilty of not operating “in good  … Read more

This problem plagues a lot of homeowners. It can happen because of unexpected financial bumps in the road, or because the homeowners have variable income. Things like sales commissions, bonuses, tips, stock market etc., can all lead to these hiccups. Forbearance Agreement One option that a homeowner may try to take advantage of is Forbearance.  … Read more

Credit scores. Everyone has them. Everyone guards them jealously. But most don’t have a clue about what a credit score is. In short, a credit score is a calculation of a person’s ability and likelihood of repaying a cash advance for something. This calculation is shown as a number value so when lenders (banks) look  … Read more

The dramatic pop of the real estate bubble left a lot of homeowners in a bad position. Some homeowners and families tightened their collective belts and struggle on to make the mortgage. Others are not as fortunate. One way that homeowners and banks have tried to combat this problem is with the real estate short  … Read more

Many Americans are in debt over their heads and are having difficulty maintaining their finances. There are several ways to begin the process of reducing your debt. The path to financial stability can be one of many tempting offers and services. With so many companies and services available, finding the right solution for your financial  … Read more

Are you confused about where an Adjustable Rate Mortgage (ARM) gets the interest rate? Does it seem that the rates are set by the banks? Is there any regulation of these rates? ARMs are based on two figures, an “index” and a “rate”. The “index” is the rate at which the bank can borrow money  … Read more