Her 29-year-old daughter, a graduate student with an annual income of less than $20,000, qualified for a mortgage of $600,000 with no money down, split into two different loans at 8.75 percent and 12.5 percent interest rates. With income from tenants . . . Beatty’s daughter thought she could afford monthly payments of nearly $5000....Read More
The number of people with damaged credit is growing almost every year and foreclosures are the highest ever. With all this happening, many people are worried that they will never be able to get good rates on their mortgages and keep their payments low. Here is some information you may not know that can save...Read More
Remember Dan Rather? How about the accusations he lobbed at the President on the CBS Evening News during the last election? Does anybody still think the news is an unbiased report on world events rather than a partisan media voice in the culture wars? Whatever the answers, the Tiffany Network has decided to continue savaging...Read More
according to a story by Rob Lever (AFP-Washington) referring to an article in Forbes magazine, the U.S. economy is apparently too successful at creating outsized wealth for some while leaving a growing number of citizens in the proverbial dust. the author points out that the market for super-premium luxury items such as Porsches and Maseratis,...Read More
from the Volokh Conspiracy: As the year closes out, it looks like the final tally for consumer bankruptcy filings for 2006 (the first full post-BAPCPA year) will be about 600,000 or so. Last year the figure was 2 million (in large part because of the pre-BAPCPA spike) and in 2004 it was about 1.5 million....Read More
filings in 2006 fell 37.6% — and that figure included most of the surge prompted by the October 2005 change in the law. in other words, after rising for a while filings have really begun to go down. score one for the credit card industry, and one more strike against ordinary Americans. this chart helps...Read More
King Bankruptcy Media The office of the U.S. Trustee has posted on its administrating web site information about the program for auditing consumer bankruptcy cases that commenced in October. Counsel are advised to be aware of this material, since it is virtually inevitable that, sooner or later, one or more of your cases will be...Read More
Credit Card Companies Issue $11.7 Billion in Penalties in 2003 By Mitchell Pacelle The Wall Street Journal Card users, consumer advocates and some industry experts complain that banks are attempting to squeeze more and more revenue from consumers struggling to make ends meet. Instead of cutting these people off as bad credit risks, banks are...Read More
Consumer Groups Declare the Government to be More Efficient than Private Collection Agencies at recovering Tax Revenue In June 1st and 8th letters to members of the House, groups including Republican Congressmen, the National Treasury Employees Union (NTEU), the Consumer Federation of America, National Association for the Advancement of Colored People, National Association of Retired...Read More
