Posted: 03 Mar 2014

Debt Settlement and Debt Negotiation

If you find your personal debt load unmanageable, whether for reasons such as job loss, a new baby, divorce, or something else, you may find yourself no longer able to make payments on all that you owe, let alone afford the cost of some minor or major emergency. In such a case, it may be tempting to ignore overdue notices or calls from collection agencies in the hope that you'll soon be able to resume your payments. It's important, though, to realize that ignoring your creditors can result in damage to your credit rating.

Posted: 29 Sep 2014

Advance Fee Loans

Advertised on the radio and TV, on the internet, and in newspaper ads, Advance fee loan offers appeal to the people who need it most--those who can't get loans from conventional sources. Advance fee loan companies offer a ray of hope but are almost sure to leave the borrower worse off than before.

Posted: 01 Feb 1997

Cosigning a Loan

If a friend or relative asks you to cosign a loan, think twice before you agree to lend your name. If the borrower defaults, you are responsible for paying the debt, including any late fees or collection costs.

Posted: 01 Sep 1994

FHA Loan Refund Locators

Television commercials are advertising that people can make thousands of dollars locating individuals who are due reimbursements on FHA loans. It sounds really simple--according to commercials, all you need to do is obtain lists of names from the Department of Housing and Urban Development and mail about five letters a day advising people that you have found money owed to them by the federal government. You then keep a portion of your money as your "finder's fee."

Posted: 01 Aug 1997

Home Equity Loans and Credit Lines

The largest investment many Americans will ever make is in their home. Advertisements claim that your home represents an untapped source of wealth which can easily be drawn upon in the form of a home equity loan. Indeed, borrowing against home equity has increased sharply since the interest deduction on consumer loans began to be phased out in 1986.

Posted: 24 Jan 2014

Mortgage Servicing - What You Need To Know

When you apply for a home mortgage, you may think that the lender, or loan originator, will service the loan until it is paid off or your house is sold. This is not always true. In today's market, mortgage servicing rights often are bought and sold.

Posted: 01 Nov 2009

Home Equity Purchasers and Forclosure Consultants

The California Legislature has found that, in many cases, homeowners whose homes are in fore­closure are defrauded by home equity purchasers who induce them (especially the poor, elderly, and financially unsophisticated) to sell their homes for a fraction of their fair market values. Their schemes often involve oral and written misrepresentations, deceit, and intimidation.

Posted: 02 Mar 2010

How Fast is Your Instant Tax Refund?

If you think your tax return might yield a refund this year, and if you scan newspaper or yellow-page ads for tax preparers, promises like "Fast Refunds in 1 to 4 days" might grab your attention.

Posted: 01 Feb 2010

Credit Cards: The New Rules

Consumers who don't pay off their entire credit card balance each month can end up in snowballing debt. Congress passed the Credit Card Accountability Responsibility and Disclosure Act of 2009 in an effort to even the playing field for cardholders.

Posted: 06 Nov 2009

Foreclosure Frauds and Fixes

Whenever real estate values decline and market conditions are as they are now, the possibility exists that many homeowners will owe more on their home than the home is worth. If you find yourself facing foreclosure, you may receive a notice in the mail or a visitor at your door, or you may seek assistance on the internet, from a company that tells you that they can “STOP FORE­CLOSURE NOW.” Typically these foreclosure consultants offer to purchase your home, assist with back taxes or mortgage payments, or negotiate with your lender to obtain a repayment plan from your mort­gage company. Often solicitors or solicitations may imply an affiliation to your mortgage company or to a government agency.

Posted: 16 Mar 2011

Loan Modification Roundup - Alerts, Issues, and Trends

In general, if you are having trouble making your mortgage payments we recommend that you first seek counseling through a HUD approved non-profit housing counselor. Call the National Foreclosure Prevention Hotline: 888-995-4673 to speak with a counselor. Some states have special assistance programs.

Posted: 11 Sep 2014

Payday Loans

Payday loans are commonly advertised as a quick fix to help with emergency situations such as unexpected auto repairs or to pay bills. Unfortunately these high rate, short-term loans can be very costly. Counting the cost before applying for a payday advance can help you avoid becoming entangled in a cycle of debt.

Posted: 23 Jan 2015

Avoiding Mortgage Relief Scams

If you find yourself facing foreclosure or fall behind on making your mortgage payment, you may be contacted by or seek the services of a company that claims they can “STOP FORE­CLOSURE NOW” or offers other mortgage relief assistance. Knowing the tell-tale signs of a scam can save you time, money, and maybe even your home.

Posted: 28 Jan 2016

Credit Repair

Bad credit is a frustrating obstacle that many find themselves having a hard time to get over. For many drowning in debt the services of a credit repair service may appear to be a lifesaver. However, there are some businesses that make grand claims but fail to deliver. Consumers should know there is no quick fix to improving your credit. This resource guide will help you identify your rights when it comes to credit, provide information on what credit repair companies can and cannot do for you, signs to identify a credit repair scam, and steps to take to protect yourself.

Posted: 02 Feb 2017

Money Transfer Services

Many people use money transfer services as a convenient way to get funds to someone you know. Scammers know that money transfers are a quick way for them to get money without detection. Find out some common scams crooks use money transfer services for and how to avoid them.