If collections made a debt settlement offer or a company made a foreclosure rescue offer read this first Our material is dedicated to the financial crisis of 2007, documenting the period before, during, and after. Some items are used by permission granted in the Fair Use guidelines of the 1976 U.S. Copyright Act. We are a watchdog and consumer advocacy organization.
Part of the reason for singing the mortgage blues today is our track record of the years 2000 through 2006. As consumers refinanced mortgage coompanies started searching for those who would refinance again and again. Non-bank financial institutions and shady lenders looked for new customers, and subprime liar loans were born.
In 2006 consumers [...]
This is terrrible, ironic, and unfortunately it is still required. Years ago this proposal would have saved people from HSBC Finance, Citifinancial, and many others. Needless to say this decision is many years too late:
The Federal Reserve announced Tuesday that it will extend its regulatory umbrella to cover a group of lenders that [...]
The United States has had as much of Phil Gramm as we can stand. While Americans expect almost everyone to be on somebody’s payroll, we are now at a point where we wonder about two main subjects: “Who was paying Phil Gramm for stupidity?”, and “Where am I going to be working next [...]
The problem went far beyond mortgages and opportunists. Greed almost stopped the American economy. Too many unemployed, too many reduced credit limits, and too many homeowners are upside down in the value of their homes.
Total U.S. consumer credit fell by a record $21.6 billion in July, Federal Reserve data showed on Tuesday, the [...]
My wife and I have 45 years of military service between her career and mine. By 2005 it was clear to us that executives and many employees in the mortgage and finance sector lacked basic leadership traits and principals know to everyone in the American armed forces.
“Know your Marines and look out for their [...]
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