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Author Archives: Research Department

Do Mortgage Deductions Encourage Home Ownership?

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Mortgage-related deductions could be tailored to reduce the cost of home ownership for families in the lowest income quintiles by making a limited tax credit available to non-itemizers. Dallas, TX (PRWEB) August 31, 2015 Mortgage-related deductions do little to reduce the cost of home ownership for those in the lowest income quintiles, according to a new report by National Center ... Read More »

    Class Action Lawsuit Alleging “Deceptive Trade Practices” in Gold Sales

    3D Press Release Crossword

    Dallas, TX (PRWEB) August 31, 2015 On August 6, 2015, attorneys of Steckler LLP filed a class action complaint against U.S. Money Reserve, Inc. and Fidelity Gold & Bullion, LLC in United States District Court for the Central District of California in Los Angeles on behalf of consumers who have made a purchase of commemorative coins since 2005 based on ... Read More »

      Financially Unprepared Consumers Are Among The Most Vulnerable When Bad Weather Strikes

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      National Foundation for Credit Counseling Because disasters can take a significant toll on all aspects of our lives, it is vitally important to take a comprehensive approach when preparing in advance. Washington, DC (PRWEB) August 31, 2015 There are a variety of natural disasters that could happen anytime during the year, but early September officially marks the peak of hurricane ... Read More »

        New College Students – Avoid Getting Screwed on Bank Account

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        Aug 26 2015 By Seth Frotman and Rich Williams If you’re a student starting college for the first time or transferring to a new college, you may be busy meeting new roommates and going through orientation. During these first few weeks, you may also need to get a checking or prepaid debit account. On campus, a bank account may be ... Read More »

          Peruvian Man Charged with Leading Conspiracy to Defraud and Extort Spanish-Speaking Consumers through Call Centers

          FBI

          A resident of Lima, Peru, was indicted by a Miami grand jury on fraud and attempted extortion charges for allegedly operating call centers that lied to and threatened Spanish-speaking victims in the United States, convincing them to pay fraudulent settlements.  Cesar Luis Kou Reyna, 40, was charged in a 33-count indictment with conspiracy, mail fraud, wire fraud and attempted extortion. ... Read More »

            Father and Son Among Four People Indicted in $2.9 Million Ponzi Scheme Involving Bogus Mortgage Sales in North Suburbs

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            CHICAGO—A father and son schemed with a Chicago attorney and a Lincolnwood businessman to sell $ 2.9 million in phony mortgages to more than a dozen duped investors, according to a federal indictment unsealed Tuesday. ALBERT ROSSINI, 67, the owner of Devon Street Investments Ltd., in Lincolnwood, plotted with BABAJAN KHOSHABE, 74, and Khoshabe’s son, ANTHONY KHOSHABE, 33, to fraudulently ... Read More »

              This Month’s Complaint Report: Credit Reporting Issues

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              Aug 25 2015 By Chris Johnson This month’s report puts the spotlight on credit reporting. Credit reports play a big part in major consumer lending decisions, including mortgage loans, auto loans, credit cards and private student loans. The largest three nationwide credit reporting companies (Equifax, Experian and TransUnion) maintain credit files on nearly 210 million U.S. consumers. In the past ... Read More »

                MSI Credit Solutions Warns of Recent Consumer Scam

                3D Press Release Crossword

                Frisco, TX (PRWEB) August 24, 2015 MSI Credit Solutions recently received a handful of concerns from consumers in regards to correspondence they have received about a delinquent loan. Victims of the scam say they are receiving calls and emails from the scammers, who claim to be with agencies such as the FBI, law firms, or state attorneys to make it ... Read More »

                  Survey Discovers One-Third Of Seniors Depend Entirely on Social Security

                  Every day wasted is money wasted. Make the tough choices young so you don't wind up broke, old, sick, and counting pennies.

                  Alexandria, VA (PRWEB) August 20, 2015 One out of three Social Security recipients, about 31 percent, say they rely entirely on Social Security for all of their income, according to a new survey from The Senior Citizens League(TSCL). With Social Security benefits averaging $1,220 per month, this means an estimated 19 million retirees are living at or below 125% of ... Read More »

                    Debt Consolidation USA Shares Financial Benefits Of House Downsizing

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                    DebtConsolidationUSA.com enjoy lower property tax payments Past News Releases RSS Los Angeles-Long Beach, CA (PRWEB) August 21, 2015 Debt Consolidation USA shared in a recently published article how consumers would benefit in downsizing their house. The article titled “What Financial Benefits To Expect When You Downsize Your Home” points out some of the key financial benefits that come with choosing ... Read More »

                      Former Chief Executive Officer of Financial Lending Company Sentenced to 97 Months of Imprisonment for Bank Fraud Scheme

                      FBI

                      Earlier today, John Murphy, the former Chief Executive Officer of Oak Rock Financial, LLC (Oak Rock), was sentenced in federal court in Central Islip, New York to 97 months of imprisonment. In December 2013, Murphy pled guilty to bank fraud after admitting that he had been lying to various financial institutions and investors regarding Oak Rock’s financial health since January ... Read More »

                        Former Manager of Telemarketing Room Pleads Guilty to Conspiracy and Money Laundering

                        FBI

                        ORLANDO, FL—United States Attorney A. Lee Bentley, III announces that Mark Gardner (28, Osteen) has pleaded guilty to conspiracy to commit mail fraud, wire fraud, and money laundering for his role in the operation of a boiler room. He faces a maximum penalty of 20 years in federal prison for the conspiracy count and up to 10 years’ imprisonment for ... Read More »

                          When You Make Student Loan Payments on an Income-Driven Plan, You Might be in for a Payment Shock

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                          Aug 17 2015 By Seth Frotman Earlier this year, we asked you to share your #StudentDebtStress story. More than 30,000 of you answered, telling us about payment processing problems, servicing transfer snags, customer service confusion, and obstacles for borrowers in alternative repayment plans. You can check out the comments that were posted. For borrowers who are experiencing financial distress and ... Read More »

                            Nevada Man Pleads Guilty to Aggravated Identity Theft

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                            SACRAMENTO, CA—Glenn Litton, 47, of Carson City, Nevada, pleaded guilty today to aggravated identity theft arising from false statements he made in an application for a United States Passport, United States Attorney Benjamin B. Wagner announced. According to court documents, on November 19, 2014, Litton submitted an application for a U.S. passport to a passport acceptance officer in Sacramento. In ... Read More »

                              NFCC Poll Reveals When Consumers Prefer to Shop for School Supplies

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                              National Foundation for Credit Counseling Parents who wait until the last minute to buy school supplies can run into some serious credit card debt if they aren’t careful. Washington, DC (PRWEB) August 12, 2015 Based on the results of a July National Foundation for Credit Counseling® (NFCC®) Financial Literacy Online poll, the calendar doesn’t have much of an influence on ... Read More »

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