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Consumer Bankruptcy Attorneys Stand Behind Government Plan to Allow Bankruptcy Judges to Modify Mortgages

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The following statement was issued today on behalf of the 3,500-member National Association of Consumer Bankruptcy Attorneys (NACBA) by bankruptcy attorney and NACBA president Carey Ebert of Fort Worth, TX: “At a time when an estimated 6,600 American families are losing their homes to foreclosure every day, we welcome the Obama Administration’s support for changes to existing bankruptcy laws that ... Read More »

    Are CCCS and Credit Counselors Salivating From Government Push to Help Save Homes With Housing Counseling?

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    Don’t be confused, housing counseling by credit counselors is a profitable business. And now that the government has laid out a new, aggressive plan, to help people to avoid foreclosure, credit counseling groups must be celebrating with a big party. Housing counseling is a revenue source for credit counseling offices and with the sudden availability of help and resources for ... Read More »

      Government Mortgage Assistance, Resources to Avoid Foreclosure, Homeowner Affordability and Stability Plan

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      At this time the Obama administration is preparing to revel their new approach to help homeowners avoid the loss of their homes in foreclosure. I’ll use this post to provide new information as it is made available. Here is what I know right now. The Obama plan calls for: Helping borrowers who owe more than 80% of their home’s value ... Read More »

        Your Quickies For the Day

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        When I need a break from answering questions I often take a look for some odd or interesting search terms that people used to find me. Below are some of the latest I saw today that I wanted to provide quick answers to. Steve Search Terms gift card giving – Be carful giving gift cards from any retail store these ... Read More »

          The Autumn of Mortgage Lender Abuse

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          Center & Plaza, originally uploaded by Brad Gillette. Today a very important announcement is going to come out from the government with a plan to help people have at least a chance of dealing with the foreclosure mess, upon us, and to come. If we are lucky, the announcement will carry a provision allowing bankruptcy judges to have some input ... Read More »

            My Visit to the Local Food Bank to Learn About How to Feed the Hungry

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            So where do you turn when you are hungry and can’t afford to feed yourself or your family? Maybe a food bank is something to investigate. This morning I had the pleasure of visiting the Food Bank of Central & Eastern North Carolina in Raleigh. Christy, an exuberant representative, gave me the grand tour of the facility and helped me ... Read More »

              Apparently People In Debt Don’t Find Love, Unless You Find Another Debtor

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              Well apparently CNN is struggling to find some breaking news so a crew was available to do a story on dating and debt. It’s worth a look. Embedded video from CNN Video Read More »

                Let NASCAR Help You Eliminate Your Credit Cards and Get Out of Debt

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                Everyone has a hobby. For some it is shopping, collecting or something else that causes money to leap out of your pocket. And when getting out of debt, that’s not what you need or want. But you know there are a lot of things you can do to keep yourself busy that don’t cost a single additional penny and can ... Read More »

                  Banks, Wall Street, and Mortgage Companies Screwed Consumers And Now Want to Leave You Hanging

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                  I just watched the CNBC special “House of Cards” about the inside of the mortgage industry, rating agencies and the Wall Street banks that pumped loans to consumers that they knew people could not afford. And now that we are faced with a national foreclosure crisis, the very same banks and lenders now won’t workout arrangements to allow people to ... Read More »

                    Mortgage, Bankruptcy, Nonsense

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                    Not that long ago I wrote again about the pleas from banking to not allow bankruptcy judges the authority to modify mortgages, in limited situations, to allow people to stay in their homes and avoid foreclosure. See “Mortgage Bankers Association. A Bunch of Whiny Bitches?“. Today an article in the Wall Street Journal has got me going again. Todd Zywicki ... Read More »

                      Are Muzak and Sirius XM Radio, Better Than You?

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                      I was reading the latest news about the bankruptcy filing of Muzak, the elevator music people, and the new merged company of Sirius XM, the satellite radio people. Sirius XM has not filed Chapter 11 bankruptcy just yet but it looks like they will any day now. It has always struck me as odd that we applaud business for using ... Read More »

                        I Want You to Meet Who You Helped Today – German Coronel

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                        It is important for you to meet who we helped today through this site. As I mention, all over the place, revenue from people clicking on ads and using the service of advertisers is used to help sponsor people in poverty through Kiva. Please visit or use the services of advertisers on the site so we can help more people. ... Read More »

                          I Want You to See Who You Helped Today

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                          I thought it was important for you to meet who we helped today through this site. As I mention, all over the place, revenue from people clicking on ads and using the service of advertisers is used to help sponsor people in poverty through Kiva. The reason I give money to Kiva to help people all over the world is ... Read More »

                            Mortgage Bankers Association. A Bunch of Whiny Bitches?

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                            So in the Wall Street Journal the Mortgage Bankers Association answered a op-ed about the need for bankruptcy mortgage modifications with the following response. In “Loan Modification Can Stop the Foreclosure Crisis” (op-ed, Jan. 30), Rep. John Conyers shortsightedly calls for allowing unelected bankruptcy judges to unilaterally modify mortgage contracts to help keep borrowers out of foreclosure. Mr. Conyers talks ... Read More »

                              Why The Debt Collector Works Hard to Manipulate You

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                              So you’re a debtor and this is your first time in financial trouble. It is scary, frightening and you are completely stressed out. Some people even kill themselves over the debt. The last thing you want to see are late notices or get calls from the debt collector. You’re just not that experienced playing the role of the debtor in ... Read More »

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