Homeowners Given False Hope
Following the purchase of a property, whether it is your home or an investment, an owner would like to believe that the property will increase in value over time. The past few years have shown quite the opposite trend and most Nevadan’s are aware of the decrease in the value of their home or investment […]
Foreclosure – Will it affect your security clearance and therefore your livelihood?
There are approximately 850,000 Americans with top secret security clearance and hundreds of thousands of others who have varying degrees of clearance as the result of government, quasi-government or contract employment. In order to obtain security clearance, one’s credit score and financial stability are considered by an administrative board. These clearances are renewed several times, […]
Private Mortgage Insurance Provides Woes for Lenders and Consumers Alike
When one hears the word “insurance,” you automatically think you are “covered” from any and all “qualified” loss that exists under the umbrella of that coverage. Unfortunately, that does not appear to be true as all types of insurance from medical to long term disability have been the subject of movies and articles slamming the […]
What Will Replace Fannie and Freddie?
With the recent election results and the increase in Republican politicians promising to abolish Fannie Mae and Freddie Mac, the topic of what will replace these government sponsored entities is being discussed now more than ever. Fannie and Freddie have been in a state of uncertainty since the government seizure but a recent Wall Street […]
Nationwide joint investigation could make banks subject to fines
A joint investigation by every state and the District of Columbia could force mortgage companies to settle allegations that they used flawed documents to foreclose on hundreds of thousands of homeowners. To read the full article please click this link.
Update on the U.S. Real Estate Market
At the end of August, Lender Processing Services (LPS) reported that mortgages on 4,947,000 properties nationwide were at least 30 days past due but NOT in foreclosure. Of those, 2,374,000 were 90 or more days delinquent. The good news is that the delinquency rate of loans that are 30 days or more past due have […]
What is the Meeting of Creditors?
Between thirty (30) and forty (40) days after filing your bankruptcy petition, the randomly assigned Chapter 7 Trustee will hold a meeting of creditors. During this meeting, the debtor is placed under oath and the Chapter 7 Trustee along with any creditors that attend may ask questions regarding your bankruptcy petition. You MUST attend this […]
Rebuilding Your Credit Score After Bankruptcy
Rebuilding your credit score after bankruptcy is not as difficult as one might imagine. Whether you file bankruptcy or not the most important factor in improving your credit score is the ability to demonstrate a positive-payment history which really comes down to common sense. With that in mind, below are some common sense ideas to […]