Archive for May, 2007
Update on the Foreclosure Crisis
Mazyar Hedayat’s Bankruptcy Blog published an update on the foreclosure crisis complete with visual aids. Filings increased 62% over this time last year. But South Carolina foreclosure rates continue to be lower than the US average.
Technorati Tags: foreclosure crisis
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Switching Sides? Seeing the Light? Or Merely a PR Ploy?
There’s a law firm, with offices in several states (California, Georgia, New Hampshire, New Jersey - to name but a few), that’s gotten religion apparently, if a particular news item from American Banker is to be believed. (I won’t link since it requires a paid subscription. Someone emailed me the salient details from the piece.) [...]
Social Security Income Is Beyond Your Creditors’ Reach
I recently read an email question posted to a listserv for attorneys that I subscribe to, asking a question about a client of this attorney (who practices in a field other than bankruptcy law), who is battling cancer and is considering filing bankruptcy as a result of the medical bills and loss of income. Her [...]
Working Families: Welcome to Your Health Care Crisis
This article from The Washington Post illustrates the pressure cooker that the combination of insurance restrictions, middle class economic pressure, and restrictions on social benefits programs have placed American working families in, and they’re slowly simmering away. We all know what happens to pressure cookers left too long to stew, right?
The article starts by [...]
Immigration Reform Might Mean Loan Sharks For Some Families
“If you have a family of four or five, it’s going to add up to thousands of dollars, and I just can’t imagine anyone having that amount of money stored in a shoebox — so someone will come up with a lending scheme that will be close to usury,” said Robert Moser, deputy director of [...]
Ohio Targets Subprime Lenders; Will SC Follow Suit?
Ohio Attorney General Marc Dann has announced he’s going after Wall Street firms who helped consumers get mortgages they couldn’t afford, one big cog in the giant meltdown machine that’s currently behind the exploding foreclosure numbers. Here’s the story from Bloomberg News. The article mentions that Dann plans to use the Ohio state version of [...]
Thinking About Filing Bankruptcy in SC? Here’s What NOT To Do…
Dana Wilkinson posts at Bankruptcy Lawyers Network about the things you don’t want to do prior to filing for bankruptcy in South Carolina. Rather than repeat it all here, I’ll just direct you there to her well-written post.
Don’t Let Frugality Kill the Family Vacation
It seems to me that a lot of so-called “money gurus” and personal finance experts rest their whole approach on one simple premise - if you’re in distress, you can’t afford pleasure.
I think that’s a short-sighted approach, for many reasons. Primarily, however, we’re creatures that, by nature, seek pleasure and work hard to avoid [...]
NPR: Ameriquest’s Deception?
NPR has audio every American homeowner needs to hear - former Ameriquest employees admitting that their former employer, the subprime lender, encouraged deceptive acts and practices that encouraged people to apply for (and receive) loans they clearly couldn’t afford.
Cosigners Beware, and Borrowers, Too!
I can’t count how many questions I’ve received during my time in private practice about cosigned loans. In the last week alone, I’ve had five people in various situations ask me about the legal ramifications of cosigning a loan, for the loan itself, the cosigner, and the primary borrower.
This article from MSN Money points out [...]
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