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.
Austin Kilgore wrote an article about predictions from Deutsche Bank concerning the mortgage market and the financial position of homeowners. While we certainly saw mortgage blues on the horizon well before the summer of 2007, Kilgore’s article shocked even us.
By 2011, Deutsche predicts 89% of option ARM borrowers will be underwater, up from 77% [...]
Most people fail to realize that by prolonging their problem, they are much further from a real solution.
With a short sale of the home the bank often tries to recoup the additional monies through a promissory note. If you have little chance of raising the monies to pay back the note, perhaps you should [...]
When I returned from a trip on Friday, Bob Seger’s Against the Wind was playing. I sat listening to the lyrics after I parked the truck. It seems funny, I started the truck on Saturday and “Against the Wind” was playing again. I looked at the dash where the CD player would be and realized [...]
As June 2009 rolls on more banks were shut down by the FDIC. In a recent article we asked “What is the main problem with banking in Atlanta Georgia? Perhaps the question should be “What’s wrong in Georgia?”
Banks in Georgia, North Carolina and Kansas with total assets of $1.5 billion were closed yesterday, [...]
What is the main problem with banking in Atlanta Georgia? While early reports show huge default and foreclosure rates inside the downtown loop, many homes were sold outside of Atlanta. Today, another bank was closed.
The Federal Deposit Insurance Corp. has shut down Silverton Bank, the failed Atlanta “bank of banks,” instead of selling [...]
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