Who do you think picks up the losses on the $500 billion worth of mortgages now in foreclosure or in serious default? The wicked lenders? Sorry, wrong. In more than half the cases, we the taxpayers pay.
Freezes on foreclosures, such as those in effect in at least a quarter of the states, [...]
Pssst – here’s a quick personal finance tip for financially troubled people who have a first mortgage plus a home equity loan. If you can’t make the payments on the first debt, don’t pay the second one, either — even if you can afford to. Payments on the second lien are money down the drain.
That [...]
The law finally caught up with the home foreclosure mills. Some of the leading lenders and mortgage servicers – including Bank of America, JPMorgan Chase and GMAC Home Mortgage, a unit of Ally Financial — have conceded that they’ve mistakenly filed for foreclosure based on faulty or even forged affidavits. At some mortgage service firms, [...]
So you thought your kids were safe from the scourge of credit card debt when you sent them away to college this year? Just because Congress passed a student-protection law?
Wake up to the real world. Credit card issuers found a glide path right through the law’s intent, thanks to their enablers at the Federal Reserve. [...]
