Being rich and famous is certainly no guarantee of future wealth, nor does it protect you from the law, paying your debts, or becoming a victim of the housing crisis. We hear daily about the record number of foreclosures that are affecting consumers across the country, but it is hard to imagine somebody we perceive [...]
Entries Tagged as 'housing crisis'
Foreclosure Affects the Rich and Famous As Well
November 3rd, 2009 · 2 Comments · Consumer Debt, Mortgages, Real Estate
Tags: famous foreclosure victims·foreclosure·housing crisis·mortgage debt·Real Estate·rich and famous·rich foreclosure victims
Credit Union Industry Worried about New “Cramdown” Legislation
March 3rd, 2009 · 5 Comments · Bankruptcy, Consumer Debt, Mortgages
One of the economic turn around proposals being kicked around includes legislation allowing bankruptcy judges who preside over Chapter 13 bankruptcies to reduce the principal amount of mortgages. This is being dubbed the “cramdown” of the mortgage principal into a smaller amount. A friend of mine received an electronic pamphlet from her credit [...]
Tags: Bankruptcy·Chapter 13·cramdown·credit unions·housing crisis·legislation·Mortgages
The 2008 Foreclosure Numbers are Out– Not Pretty…
January 16th, 2009 · No Comments · Consumer Debt, Mortgages, Real Estate
If you live in one of the “sunshine” states of Arizona, California, or Florida, you have yet another talking point for your home state– these locations have recently been given the devious distinction of having posted the highest number of foreclosures in 2008. Given that Arizona is the home base for creditinfocenter.com, we’d argue that [...]
Tags: foreclosure rates 2008·Foreclosures·housing crisis·mortgage defaults·Real Estate·RealtyTrac data
Government Aid Programs Proposed to Stabilize the Real Estate Market
January 14th, 2009 · No Comments · Banking, Consumer Info, Mortgages, Real Estate
Many members of Congress, not to mention those of us living on Main Street, are disappointed in the management-to-date of the funds earmarked for the Troubled Asset Relief Program. The 700 billion dollar bailout– now commonly known as TARP — has already had the first half of the funds committed, primarily to injections of capital [...]
Tags: Foreclosures·government aid·housing crisis·Mortgages·Real Estate·TARP
