Archive for the ‘Bankruptcy News’ Category

150 Thousand Trials Cancelled in May 2010

From Treasury: HAMP Servicer Performance Report Through May 2010

About 347 thousand modifications are now “permanent” – up from 299 thousand last month – and 430 thousand trial modifications have been cancelled – up sharply from 277 thousand last month.
According to HAMP, there are 467,672 “active trials”, down from [...]

August 10, 2010   Posted in: Bankruptcy News  No Comments

House Passes Bill to Keep Creditors From Taking Guns

Posted by Brian Montopoli from www.cbsnews.com
If you file for bankruptcy, you run the risk of losing your money and your car to creditors.
But under a measure that just overwhelmingly passed the House of Representatives, one thing they would not be able to take is your gun.
The House this afternoon passed a bill [...]

July 29, 2010   Posted in: Bankruptcy News  No Comments

8 Problems That Could Trigger a Double-Dip Recession

//

Ben Baden and Rob Silverblatt, On Thursday July 1, 2010, 3:21 pm EDT
With stock prices spiraling downward and treasury yields tanking, the market has been sending a clear message this week: The fragile economic recovery is in trouble. But just how bad is the outlook? In the aftermath of [...]

July 26, 2010   Posted in: Bankruptcy News  No Comments

Wells Fargo Extends Mortgage Assistance to Gulf Coast Borrowers

By: Carrie Bay

Wells Fargo has joined the growing faction of lenders offering mortgage assistance to customers in the Gulf Coast region who are facing hardship as a result of the BP oil spill.

The company says it is working closely with its borrowers who’ve been impacted by the events in the Gulf, and [...]

July 21, 2010   Posted in: Bankruptcy News  No Comments

Ramsey: Debt-free process can be slowed for education

Dave Ramsey
Q: My wife wants to go back to school to complete her degree. Right now, we’re on Baby Step 2 of your plan, and we’re about 12 months away from being free of debt, except for our house. Should we work the budget to cash flow her going back to school [...]

July 19, 2010   Posted in: Bankruptcy News  No Comments

Troubled Asset Relief Program: Further Actions Needed to Fully and Equitably Implement Foreclosure Mitigation Programs

Congress created the Troubled Asset Relief Program (TARP) to, among other things, preserve homeownership and protect home values. In March 2009, the U.S. Department of the Treasury (Treasury) announced the Home Affordable Modification Program (HAMP) as its cornerstone effort to achieve these goals. This report examines (1) the extent to [...]

July 14, 2010   Posted in: Bankruptcy News  No Comments

U.S. economy gaining strength

Fueled by tax credit, rise in construction spending a big boost
BY ALAN ZIBEL AND MARTIN CRUTSINGER    Associated Press
WASHINGTON — The economic recovery gained strength on the biggest rise in construction spending in nearly a decade and the 10th-straight month of expansion for the manufacturing sector. [...]

July 12, 2010   Posted in: Bankruptcy News  No Comments

FHA Program Allows HUD-Home Pruchase for $100 Down

When someone with a mortgage insured by the Federal Housing Administration defaults on the loan agreement and the lender forecloses on the property, FHA pays the lender the amount owed on the loan.
Then the U.S. Department of Housing and Urban Development, which administers FHA programs, takes ownership of the property. The property [...]

July 9, 2010   Posted in: Bankruptcy News  No Comments

Credit Scores Aren’t Free

By JONNELLE MARTE
Offers of free credit reports and scores often aren’t so.
In early April, the Federal Trade Commission cracked down on websites that offered people “free” credit reports and scores that were actually tied to the purchase of credit-monitoring services.
In some cases, people requested credit reports and unknowingly signed up [...]

July 7, 2010   Posted in: Bankruptcy News  No Comments

M&N-Community Involvement

Mayer & Newton strives to not only provide exemplary service to all of our clients; we also care about the community around us. Mayer & Newton recently sponsored a local baseball team with jerseys that include our name & logo. Please stay tuned for more information about the team and our effort within our community.
-M&N

July 7, 2010   Posted in: Bankruptcy News  No Comments