Tag Archives: CFPB


Posted 2 years ago in Foreclosure Real Estate by Janet Raasch  
New Rules Will Make Mortgages Safer

The residential foreclosure crisis has claimed nearly 4 million U.S. homes since 2008. At the start of 2013, it looks like the worst is over. The number of homes in the foreclosure process has reached its lowest level since the crisis began.   Dodd-Frank Overhauls Mortgage Laws During the housing bubble, many mortgage lenders operated with extremely lax underwriting standards. Often, banks failed to check documentation, to require minimum credit scores and to determine whether borrowers had enough income to …

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Banks Run Roughshod over Widows in Foreclosure [Video]

  Banks are foreclosing on the homes of widows. Financial institutions are refusing to modify mortgages when husbands have died without listing their surviving wives on the notes. Lawyers.com journalist Ed Alpern shows you how banks have gotten away with these practices and how you can fight losing your home to foreclosure. Director of Foreclosure Prevention Litigation at Legal Services NYC Jacob Inwald emphasizes banks are under a legal obligation to attempt to avoid foreclosures and to promote loan modifications. …

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Posted 2 years ago in Foreclosure Real Estate by Michele Bowman  
New Rules Offer Homeowners Protection from Foreclosure

As anyone who’s ever dealt with a mortgage – not to mention a foreclosure – knows, getting a straight story from mortgage servicers, the companies that handle loan modifications and foreclosures, can be next to impossible. The Consumer Financial Protection Bureau (CFPB) is trying to help: On Jan. 17, the federal agency released final rules that aim to better protect consumers from detrimental actions by such companies and require them to give homeowners facing foreclosure more and better information.   …

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Posted 2 years ago in Bankruptcy by Jennifer King  
Read the Latest Issue of ‘Your Money & The Law’ Newsletter

Discover Defrauds Customers, Must Pay $200 Million You may get calls from credit card companies asking whether you’d like to hear about additional products they offer. If you said yes to a call from Discover between December 2007 and August 2011, you may be in for a little extra cash. Discover has settled deceptive marketing charges brought by the FDIC. The bank was accused of tricking customers into paying for extra credit protection programs. Find Out More…   Avoid Defaulting …

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Posted 2 years ago in Consumer Law by Michele Bowman  
Discover Defrauds Customers, Must Pay $200 Million

You get the calls all the time from credit card companies – “Would you like to hear about additional products offered by the bank?” If you said yes during a call from Discover during the over three-and-a-half-year period from December 2007 through August 2011, you may be in for a little extra cash. Discover announced on September 21 that it has settled deceptive marketing charges brought by the Federal Deposit Insurance Corporation (FDIC) and Consumer Financial Protection Bureau (CFPB), which …

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