Category: Debt settlement

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Federal Government Files Charges Against 530 Mortgage Relief Scammers, Claiming Damages Over $1 Billion

Mortgage Relief Scammers The Federal Government appears to be increasing its efforts to protect homeowners from mortgage rescue scammers.  As we reported here, mortgage rescue scammers may attempt to take advantage of homeowners by fraudulent posing as government programs, accepting payments without providing services, or transferring title to the mortgaged premises, among other things.  The […]

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Bank of America Mortgage Forgiveness Q & A

Bank of America Mortgage Forgiveness Bank of America Mortgage Forgiveness Q & A Just in case you missed or did not follow the link to the BOA Press Release.  Here is the informative “Questions and Answers” section from the Press Release: Questions and Answers 1. What is the second lien mortgage elimination offer? We are […]

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Debt Collectors Charge A Borrower $2.95 in Interest, Lose Fair Debt Collection Case

Debt Collectors Pay Price A debt collector recently charged a borrower $2.95 in interest on a judgement, even though no post-judgement interest had been awarded.  A district court decided that this violated the Fair Debt Collection Practices Act, meaning that the debt collector had to pay the borrower $1,000.00, plus legal fees.  This might seem […]

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Debt Collectors Lie to the Courts, a New York Federal Court Finds

Debt Collector Lied to Courts A New York Federal Court found that a certain debt collector has been lying to courts on a grand scale.  The procedure is a little complicated, but an explanation will highlight some of the issues debt collection defendants frequently face.  In this particular case, the debt collector essentially manipulated Courts […]

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Settle 2nd Mortgage for 10% of amount owed?

Settle  Your Second Mortgage Settle your second mortgage for 10% of the loan amount owed? Let’s say you owe 90k on your second mortgage and the bank is willing to accept 9k in full satisfaction. Not bad, right? Well, we have heard of such an offer! Generally, we would want to consider any issues or […]

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