Yahoo Finance and Creditcards.com have a story on how bad your credit mistakes are. Here is their list of how bad things are on a scale of 1 to 10: 1. Using a card in a pinch: 2 2. Paying…
Posts Categorized In: News
California Debt Blog: Mortgage Review
I have been receiving a lot calls lately from people who want a loan modification. As you know, attorneys, and others in the business, can no longer charge an up front fee for a modification. This means that many homeowners…
California Debt Blog: Good news for short sales
There is finally some good news in California for people trying to get a short sale approved. SB 306 puts in the following requirements: 1. A lender only has 21 days to approve a short sale once it receives a…
California Debt Blog: Homeowners still in trouble despite billions in bail out
The Sacramento Bee reported today that homeowners are still in trouble and still facing foreclosure. That is not news. The news? Billions have been given to the loan servicers and they are still not helping people. In fact, the Government…
California Debt Blog: Credit Score Impact: Short Sale versus Foreclosure
People ask me about the difference between a short sale and a foreclosure as it impacts their credit score frequently. There are no hard and fast rules. It depends on your situation. However, here are some guidelines: A short sale…
California Debt Blog: The Foreclosure Rescue Mirage
Andy Kroll over at Mother Jones has written an excellent article on the foreclosure crisis. Key from the article: Industry experts are now questioning how many of the program’s estimated 235,000 modifications will actually benefit homeowners in the long term,…
California Debt Blog: Wa Mu Mistakenly Sells Woman’s House
It is amazing that this happens, but Washington Mutual (now Chase) mistakenly sold a woman’s house in Florida. NBC in Miami is reporting that the woman came home to the Sheriff throwing her family out of a house she just…
California Debt Blog: Did Countrywide give preferential loans?
Sen. Dodd and Sen. Conrad both received preferential loans from Countrywide, according to testimony in front of a Senate ethics committee. The AP is reporting that, not only did they receive preferential loans, but they knew about it. I don’t…
California Debt Blog: Sample Validation Letter to Debt Collector
I have had a lot of people calling lately asking what to do when a debt collector sends the first letter. By law, you have 30 days to dispute the debt and ask for validation of the debt. You should…
California Debt Blog: More on Erica Brachfeld and Brachfeld and Associates
One concern for attorneys, especially attorney bloggers, is how much you can write about existing cases. Obviously, I cannot list my client names or violate the attorney client privilege. But, I can write about things that happen in cases. I…