One of the more disgusting practices common in the mortgage market is the special incentives many lenders pay to mortgage brokers who convince you to take a mortgage at an interest rate higher than you …

For a while now most credit card companies have inserted a mandatory arbitration clause into their contracts.  This is to force their customers to settle credit card problems with arbitration and prevent them from suing.   …

I have long said that no mortgage modification program tried so far is likely to work.   The only thing I know of that would be effective is to give bankruptcy courts the right to “cram …

The American Bankers Association defines as “delinquent” any loan that has a payment more than 30 days overdue.   Credit card loans were in the worst shape, with 4.75% of all accounts, representing 6.6% of all …

A new study, by Professor Alan White of Valparaiso University law school, proves what most people in the foreclosure prevention business have been saying:  Lenders do not want to modify loans, and when they do, …

Last February the Obama administration announced new foreclosure prevention programs.  One of them allowed refinancing of some homes where the mortgages exceeded the value of the house,  We wrote that “…four to five million homeowners …