Topics: Your Money & The Law - 62 results


Posted 1 year ago in Bankruptcy Labor and Employment by Josh Crank  
Laid-Off Hostess Workers Still Fighting for Pensions

When Hostess Brands Inc. announced it was going out of business, Twinkie lovers panicked, clearing out grocery shelves and forking over nearly $60 for a single box on eBay. But Hostess’ 18,500 workers faced bigger problems: a sluggish economy, high unemployment and a pension system that’s $55 million in the red. Pensions were at the center of contentious labor negotiations that broke down when the Bakery, Confectionary, Tobacco and Grain Millers Union (BCTGM) went on strike. After Hostess violated union …

Read More Leave a Comment

Posted 1 year ago in Banking Law Real Estate by Michele Bowman  
Walmart Mortgages Coming Soon to Aisle 10

You buy toilet paper and ammo there, so why not a home? Consumers are indicating they would trust Walmart and other non-banks with their mortgages, and some experts believe that’s not necessarily a bad thing. While they seem mostly satisfied with the services of the big banks, “continued frustrations with current mortgage processes . . . could drive consumers to alternative home loan providers,” according to a recent survey by a consulting firm whose clients include some of the largest …

Read More Leave a Comment

Posted 1 year ago in Consumer Law Creditor/Debtor by Janet Raasch  
Alternative Financing Services Growing in Popularity

Alternative Financial Services (AFS) businesses are a major source of banking and credit services for the un- and under-banked,  low-income and working poor consumers, residents of minority neighborhoods, and consumers with heavy debt burdens and less-favorable credit histories. Often, these individuals or families are thrown for a financial loop when faced with unexpected expenses and emergencies. AFS providers fall outside the system of traditional, federally insured financial institutions. They include check cashing and money order outlets, lenders and even retail …

Read More Leave a Comment

Posted 1 year ago in Creditor/Debtor Foreclosure Taxation by Michele Bowman  
Expiration of Debt Relief Act Could Revive Mortgage Crisis

A federal law that has helped consumers avoid paying taxes on money they never even had is set to expire at the end of the year. If it does, homeowners who are forgiven any of their debt when they are foreclosed on will have to pay income tax on the forgiven amount.   Forgiven “Income” To Be Taxed It seems crazy, but it’s true: Normally, if a homeowner owes $100,000 on her mortgage, but the property sells in foreclosure for …

Read More Leave a Comment

Posted 1 year ago in Estate Planning Taxation by Michele Bowman  
Experts to $580M Powerball Winners: “Shut Up”

It’s a dream come true for at least two Americans: on Nov. 29, lottery officials announced that two tickets – one in Arizona and one in Missouri – matched the winning numbers drawn in the Nov. 28 massive Powerball lottery, which is worth almost $580 million. The Missouri winning ticket-holders will be revealed on Nov. 30. While we wait for the lucky Arizona winners to come forward (and continue to read all the news stories interviewing ticket purchasers about what …

Read More Leave a Comment