The job of a mortgage servicer is to collect loan payments and keep track of what’s owed on the mortgage. That shouldn’t be too hard. But the evidence is that they don’t do that basic job very well. Throw a loan modification into the mix, and who knows what you’ll get. Accounting for modification […]
How Their Telephone Can Ruin Elders
The elderly couple was suddenly in financial trouble. The two mortgages on their home were a couple of months delinquent. Their bank account had just been levied by the state taxing authority. They hadn’t filed tax returns in several years. From the outside, it didn’t seem like anything had changed. Yet their financial world was […]
Tax Tidbits As Filing Deadline Approaches
If you got an extension to file your tax return, and tax filing time has arrived, you may need some moral support and some reliable information to get the job done right and on time. This site often focuses on taxes, not because we are tax professionals, but because tax troubles are one of the […]
3 Things Turn Off This Bankruptcy Lawyer
Looking to find a bankruptcy lawyer. Then you need to know what makes a good bankruptcy client. A good bankruptcy lawyer doesn’t waste time with some kinds of prospective clients. TThat’s because an experienced bankruptcy lawyer can see trouble from the start. So what would make a bankruptcy specialist turn down work? That is, other […]
The Government Loans That Bankruptcy Wipes Out
Believe it or not, certain unsecured loans from government entities are dischargeable in bankruptcy. This includes SBA loans, and loans made through The Department of Veteran’s Affairs (VA), Department of Housing and Urban Development (HUD) and others. That’s the good news. What is CAIVRS and How is it a Problem? The bad news is that […]
The Killer Rule That Zaps Private Student Loans
Got private student loans? I’ve got good news and bad news. Bad news first. Private Student Loans Inflexible Private student loans have no built in mechanisms for deferment and forbearances, like government-backed loans do. There are no income based repayment plans, as there are with federal student loans.’ No “outs” for disability or schools that close […]
Protect Your Credit After Equifax Security Breach
Half the US population may be affected by the hacking of credit reporting agency Equifax. I’m in that group along with 143 million other Americans. Stolen were names, addresses, dates of birth, and Social Security numbers. Some credit card numbers were also lifted. Everything an identity thief needs to ruin your financial life. Equifax is […]
Foreclosure: The Unseen Hazards
It’s not the foreclosing creditor that really threaten California homeowners. It’s the forces that follow foreclosure. The junior lender and the tax man can deliver truly punishing blows to a family losing a home. Cut-off Junior Lienholders Californians enjoy the protection of the one action rule governing foreclosures. A creditor who conducts a non judicial […]
Bank Has No Remedy After Foreclosure
Facing foreclosure is bad enough; worrying about your exposure afterwards is worse. Breathe deeply. California laws shield homeowners from further collection by a lender who has foreclosed. Understanding Foreclosure Sales To understand California’s protections for homeowners, you have to understand how a typical foreclosure sale works. The deed of trust, given to the lender when […]
Cut Tax Liens Down to Size
Tax liens are no match for Chapter 13 when it comes to cutting the lien down to its real value. On paper, a tax lien can quickly become huge. In bankruptcy however, a lien is no bigger than the value of the assets it attaches to. While in Chapter 7, liens pass through bankruptcy without […]
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