Carolina Consumers can Dispute Debts Verbally Under FDCPA

Carolina Consumers Can Dispute Debts Verbally Under FDCPA As attorneys who represent clients in debt collection cases, whether credit card, mortgage, or other, we pay close attention to important legal decisions which impact our clients’ rights. A new Federal court ruling which impacts both North Carolina and South Carolina has been handed down and favors… Read more »

Your Credit Report: How Long Do Negative Entries Hang Around?

Your Credit Report: How Long do Negative Entries Hang Around? As attorneys who often represent borrowers who are involved in mortgage loan disputes or other types of loan disputes, we are frequently asked how long certain types of negative credit report entries will impact their credit score. Of course credit scores and credit reports can… Read more »

National Mortgage Settlement – Which Mortgage Servicers Are In Violation?

The National Mortgage Settlement – Which Mortgage Loan Servicers Are In Violation? This firm regularly attends the presentations put forth by the Office of Mortgage Settlement Oversight, which is in charge of enforcement of the $25 billion dollar National Mortgage Settlement, also referred to as the Department of Justice (DOJ) Settlement.  Joseph Smith, former North… Read more »

CAN MY CREDIT CARD COMPANY STILL SUE ME?

Can My Credit Card Company Still Sue Me?:  A Summary of the Statutes of Limitations for Credit Card Debt In today’s struggling economy incurring debt seems to be inevitable. In particular, consumer credit card debt is at an all-time high and is severely impacting the financial and emotional lives of millions of Americans. Credit card… Read more »

Rating Wells Fargo Bank’s Mortgage Loan Modification Performance

Rating Wells Fargo Bank’s Mortgage Loan Modification Performance  Wells Fargo Bank’s performance in assisting distressed homeowners was ranked as average among large mortgage loan servicers, according to the Federal Government’s most recent report. The Making Homes Affordable (“MHA”) Final Report for the second quarter of 2011 states that Wells’s performance is in need of “moderate” improvement.… Read more »

A Summary of Government Mortgage Loan Relief Programs

Government Mortgage Loan Relief Programs: Summary   The following federal government programs are summarized herein: Home Affordable Modification Program (“HAMP”) Home Affordable Unemployment Program (“UP”) Home Affordable Foreclosure Alternatives Program (“HAFA”) Second Lien Modification Program (“2MP”)  HAMP provides eligible borrowers with a chance to modify their first / primary mortgage loans to make them more… Read more »

US Government Claims Mortgage Loan Modification Success

US Government Claims Mortgage Loan Modification Success The Federal Government claims a remarkable increase in successfully modifying mortgage loans over the past 13 months. The July, 2011 U.S. Housing Scorecard includes the following information. Since HAMP began in April, 2009, 1,639,382 borrowers entered into trial modifications, with 763,071 (46.55%) having converted to permanent mortgage loan… Read more »

Is the Government Modifying Loans?

Federal Government Housing and Mortgage Scorecard for July, 2011: is the Government Modifying Loans? Periodically, the Department of Housing and Urban Development (HUD) works with the Department of Treasury to release a “Housing Scorecard” which is designed to summarize the most recent and relevant information available regarding the American housing and mortgage loan market. The… Read more »

Which Mortgage Loans May Qualify for a Government Mortgage Loan Modification?

Which Mortgage Loans May Qualify for a Government Mortgage Loan Modification? Does it matter if my loan is owned, securitized, or guaranteed by an agency of the Federal Government? Yes. Only certain loans qualify for possible modification under the Home Affordable Modification Program (“HAMP”). How do I find out if my loan is owned, securitized,… Read more »