New York's Attorney General Files Fraud Suit Against Banks
By: Emil Fleysher | February 25, 2012 |
Foreclosure
New York’s attorney general is accusing some of the nation’s largest banks of deceit and fraud. That is because they were using an electronic mortgage registry that he claims puts homeowners at a disadvantage in foreclosures. He claims the banks submitted court documents containing false and misleading information. It appeared to provide the authority for
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Will Student Loan Debt be the Next Bubble?
By: Emil Fleysher | |
Bankruptcy
With student loan debt now topping U.S. credit card debt and few or no options available for distressed borrowers, America faces the very real possibility of another major economic threat. The threat that is on a par with the devastating home mortgage crisis. As bankruptcy attorneys, we have seen an increase in the last three-four
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States Attorneys General Agree to Foreclosure Settlement
By: Emil Fleysher | |
Foreclosure
More than 40 states have signed on to a draft settlement with the nation’s largest banks. It aims at helping homeowners struggling with loans bigger than the value of their homes. However, several states including California, New York, Nevada, Florida, and Delaware remain undecided. Attorneys general from these states have issues with the deal but
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Obama Administration Expands Foreclosure Prevention Program
By: Emil Fleysher | |
Foreclosure
The Obama administration is expanding eligibility for its Home Affordable Modification Program (HAMP). They are expanding it to borrowers with higher debt loads and tripling the incentives it pays banks that reduce the principal on loans. It will also offer incentives to Fannie Mae and Freddie Mac to reduce the principal on loans; which it
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Do Black Americans Face Bias in Bankruptcy?
By: Emil Fleysher | January 27, 2012 |
Bankruptcy
A study has found that blacks are twice as likely as whites to wind up in Chapter 13
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Florida Supreme Court to Addresses Requirements for Voiding a Foreclosure Sale
By: Emil Fleysher | |
Debt
A Florida state appeals court has asked the Florida Supreme Court to clarify what is required to void a foreclosure
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The Debate Over Mortgage Principal Reduction
By: Emil Fleysher | |
Bankruptcy
Mortgage principal reduction is an idea that could be helpful to or cause more default among borrowers. Some experts feel that widespread mortgage principal reduction may drive defaults much higher. Also, taking this step may tighten lending by forcing banks to offer “price protection” to borrowers. Moreover, the data shows there is essentially no difference
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States Close to Settlement with Mortgage Servicers over Foreclosure Shenanigans
By: Emil Fleysher | |
Debt
A draft settlement between the nation’s major banks and U.S. Attorneys General over deceptive foreclosure practices has been sent to state officials for
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NFL Star Santana Moss' Lighthouse Point Home in Foreclosure
By: Emil Fleysher | |
Debt
Washington Redskins receiver, Santana Moss, is in foreclosure for not paying the mortgage on his Lighthouse
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2012 Expected to Bring a Modest Decrease in Housing Prices
By: Emil Fleysher | January 16, 2012 |
Debt
The good news about the current housing market is that there is an abundance of inventory and affordability. However, the most recent numbers show prices steadily declined from October 2010 to October 2011. Overall, housing prices are lower than they were in October 2001. And, in some cities, prices are at their lowest level in
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