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. However, in today’s market mortgage servicing rights often are bought and sold. The Real Estate Settlement Procedures Act (RESPA) is a consumer protection statute. Sections […]
Article published in The New Jersey Lawyer
Click to read the article “Please Turn to Chapter 7: Still? Still.“ By: Lee M. Perlman
Why Won’t Lenders Renegotiate Delinquent Home Loans?
Remember the Obama Administration’s “Making Home Affordable Plan”? The one that promised to help millions of financially strapped Americans who faced foreclosure on their homes by giving incentives to lenders to renegotiate their loans? And remember all the bailout money that the banks got in return for promises that they would do their part in […]
Insured, but Bankrupted by Health Crises
New Jersey bankruptcy Article By REED ABELSON New York Times Article Published: June 30, 2009 Health insurance is supposed to offer protection — both medically and financially. But as it turns out, an estimated three-quarters of people who are pushed into personal bankruptcy by medical problems actually had insurance when they got sick or were […]
News Release, The Role of Medical Debt in Bankruptcy
Harvard study finds 50 percent increase from 2001, most of those bankrupted by illness were middle class and had insurance EMBARGOED until: June 4, 2009, 12:01 a.m. EDT Contacts: David Himmelstein, M.D. Steffie Woolhandler, M.D., M.P.H. Elizabeth Warren, J.D. Deborah Thorne, Ph.D. Mark Almberg, (312) 782-6006, cell: (312) 622-0996, mark@pnhp.org Medical problems contributed to nearly […]
My Personal Credit Crisis
New Jersey bankruptcy Article By EDMUND L. ANDREWS Published: May 14, 2009 If there was anybody who should have avoided the mortgage catastrophe, it was I. As an economics reporter for The New York Times, I have been the paper’s chief eyes and ears on the Federal Reserve for the past six years. I watched […]
Students’ First Lesson: Beware Loans’ Fine Print
New Jersey Bankruptcy Article By GRETCHEN MORGENSON Published: May 2, 2009 HIGH school seniors, thrilled at receiving fat envelopes from the colleges of their choice last month, must now figure out how to pay for the privilege of attending these institutions. For many, this will mean a journey into private student loan land, where financial […]
Does God Want You to Be Bankrupt?
New Jersey Bankruptcy Article By RON LIEBER Published: May 1, 2009 This week, yet another Washington debate over who deserves a break on their debts drew to a close. On Thursday, the Senate voted against allowing judges to adjust the terms of the mortgages of people filing for personal bankruptcy. Scratch the surface of the […]
Debt Settlers Offer Promises but Little Help
By DAVID STREITFELD Tyna Carter, burdened with $25,000 in credit card debt, did not want to be a deadbeat. After looking for help on the Internet, Mrs. Carter, a West Virginia homemaker, wound up in the hands of a sweet-talking ³credit specialist² from Texas. He claimed his company, Credit Solutions of America, could set her […]
In Grim Market, Student Loans are a Costly Burden
New York Times Article By TARA SIEGEL BERNARD Published: April 17, 2009 They bought into the notion that if they went to college — never mind the debt — their degree would lead to a lucrative job. And repaying their student loans would never be a problem. But the economic crisis has turned those assumptions […]
