Q. I am having great difficultly getting a loan modification on my mortgage. I am 100% confident that I meet the criteria for the loan modification program. After initially agreeing to do the modification, they now say I don’t meet the requirements and stopped taking my calls. Can I sue? My story: I followed the [...]
Entries from October 14th, 2009
Is It Illegal if My Bank Won’t do a Loan Modification?
October 14th, 2009 · 3 Comments · Mortgages
Tags: appraisal·assessor's office·building inspection·Fannie Mae·Freddie Mac·illegal·loan modification·Making Homes Affordable Program·mortgage modification·refinance
Turn and Burn – a Highly Profitable Foreclosure Strategy
October 13th, 2009 · 1 Comment · Credit Reports, Mortgages
The “turn and burn” a.k.a. “buy and bail” strategy – is a method sometimes used by people whose homes are “underwater”. It is increasingly used by the wealthy with very large mortgages whose homes are worth significantly less than what they owe. This little trick reared its ugly head after the housing market began to [...]
Tags: Buy and Bail·Credit Scores·Economic Meltdown·Good Credit·investment loans·Making Homes Affordable Program·pay with cash·turn and burn
Being Sued but “Judgment Proof” – Do I Need to do Anything?
October 12th, 2009 · 5 Comments · I'm being sued!
Many people who receive a notice of a pending lawsuit for defaulted credit card may have heard that the opposing party can’t win because they are “judgment proof”. This question comes up all of the time – “I’m being sued but I’m judgment proof – do I need to do anything?” The answer is definitely [...]
Tags: assets·collection agencies·consumer·garnishment·judgment·judgment proof·Junk Debt Buyers·lawsuit·summons·Unrealistic Expectations·writ of garnishment
Planning Ahead For the Holidays Can Save Time and Money
October 9th, 2009 · No Comments · Budgeting
As an (ex) engineer, I am typically one of those well organized, thorough, list-writing people that tends to have everything mapped out and ready to go months in advance (another less attractive word for it might be anal). I think I got it in part from my mother, who started buying Christmas presents in June, hiding [...]
Tags: early holiday planning·holiday budgeting·holiday gifts·holiday shopping early·planning ahead holidays·save money·save money christmas
