The interest rate freeze is coming!

By Jack, on November 30th, 2007%

It won’t be long before the major subprime lenders agree to an interest rate freeze on their “2-28″ and “3-27″ subprime loans. This means that if you have one of these loans — which start [...]; . . . → Click Here to Read the Full Article

Comments are closed   Mortgages

Subprime lenders may not have learned their lesson.

By Jack, on November 23rd, 2007%

I have a friend of a friend who works for a subprime lender. One of the big problems with sub prime loans was somethng called “liar loans” in which the borrower submits no documentation — [...]; . . . → Click Here to Read the Full Article

Comments are closed   Uncategorized

Treasury Secretary tries to get mortgage industry to do blanket loan modifications

By Jack, on November 21st, 2007%

Realizing that one by one requests for loan modifications will never work, Treasury Secretary Henry Paulson wants lenders to set up a blanket system for modifying mortgage terms. For example, the lenders could freeze all [...]; . . . → Click Here to Read the Full Article

Comments are closed   Mortgages

You have to be realistic about your debt situation

By Jack, on November 14th, 2007%

I got a call last night from a friend I had not seen in a while. She was in trouble with her debt and wanted to know if I could help. I listened to [...]; . . . → Click Here to Read the Full Article

Comments are closed   Bankruptcy, Debt, Mortgages

Barney Frank tries to regulate subprime loans

By Jack, on November 6th, 2007%

Rep. Barney frank, D-MA, Chair of the House Financial Services Committee, is trying to pass a bill that would (to quote a negative editorial in the Wall Street Journal) “…forbid banks from signing up borrowers for [...]; . . . → Click Here to Read the Full Article

Comments are closed   Debt, Mortgages