New Jersey bankruptcy Article The Wall Street Journal By JEFF D. OPDYKE Maxine McDaniel has a message for Americans considering walking away from an unaffordable mortgage: Beware of taxes. Though not every homeowner who’s underwater on a mortgage need worry, many are finding that a foreclosure or other form of housing loss can lead to […]
The New Poor – In Hard Times, Lured Into Trade School and Debt
New Jersey Bankruptcy Article By PETER S. GOODMAN Published: March 13, 2010 At institutions that train students for careers in areas like health care, computers and food service, enrollments are soaring as people anxious about weak job prospects borrow aggressively to pay tuition that can exceed $30,000 a year. But the profits have come at […]
Credit Card Limits for Youth Can Be Opportunity for Parents
New Jersey bankruptcy Article By RON LIEBER Published: February 12, 2010 If you’re having trouble figuring out how to raise financially responsible children, you’ll be thrilled with this news: Congress is stepping in to help you set some limits. This month, large parts of the credit card bill that President Obama signed into law in […]
No Help in Sight, More Homeowners Walk Away
New Jersey Bankruptcy Article By DAVID STREITFELD Published: February 2, 2010 In 2006, Benjamin Koellmann bought a condominium in Miami Beach. By his calculation, it will be about the year 2025 before he can sell his modest home for what he paid. Or maybe 2040. “People like me are beginning to feel like suckers,” Mr. […]
For Financial Advice, Arriving at the Right Dosage
New Jersey bankruptcy Article By TARA SIEGEL BERNARD Published: January 15, 2010 Most everyone needs financial advice. The big question is how much. There are tens of thousands of advisers out there, with varying levels of expertise, who charge varying fees for their services. And professional advice doesn’t guarantee good returns. You need look no […]
Mortgage Modifications Affect Credit Scores
New Jersey bankruptcy Article By JENNIFER SARANOW SCHULTZ New York Times Article January 5, 2010, 5:41 pm Do borrowers taking part in the Obama administration’s mortgage modification program deserve a black mark on their credit records? Lenders use special codes to let credit bureaus know what customers are borrowing and whether they’re paying on time. […]
The Lure of Store Credit Cards, and the Hook
New Jersey Bankruptcy Article By TARA SIEGEL BERNARD Published: December 11, 2009 You may be tempted this season to give in to the plea from that persistent sales clerk at one of the big retailers — “Are you sure you don’t want to save 15 percent today?” — and open up a couple of store-brand […]
Why Many Home Loan Modifications Fail
New Jersey bankruptcy Article The New York Times FLOYD NORRIS Published: December 3, 2009 Why are so few temporary mortgage modifications turning permanent? One reason may be the same one that a lot of bad loans were made in the first place. Borrowers can declare their income, and the banks are willing to grant temporary […]
Financial Decisions to Make as You Divorce
New Jersey bankruptcy Article The New York Times By RON LIEBER Published: November 13, 2009 Divorce may be one of the most damaging financial events in the lives of those who go through it, but that isn’t always immediately clear to a couple about to split up. In fact, the first response is probably emotional […]
A Free Credit Score Followed by a Monthly Bill
New Jersey bankruptcy Article The New York Times By RON LIEBER Published: November 2, 2009 On television it’s hard to miss the wildly popular band of slackers singing ruefully from a shabby apartment or while waiting tables in pirate regalia. The ruined credit that led to their financial misfortune might have been sparkling if only […]
