Articles from Diane L. Drain - Phoenix Bankruptcy & Foreclosure Attorney

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Negative Equity in Home – Chart by State

Submitted by Anonymous (not verified) on Wed, 12/18/2013 - 20:09

foreclosureAcross the nation property values are on the increase.  Each state is seeing a different percentage of turn around, but each state is seeing some positive results.  “CoreLogic …just released new anal

Home Equity Loans Next Wave of Defaults

Submitted by Anonymous (not verified) on Sat, 11/30/2013 - 02:00

House with gavel above ready to strikeAccording to Reuters – U.S.

$14M Reimbursement to Payday Loan Borrowers

Submitted by Anonymous (not verified) on Fri, 11/29/2013 - 23:37

November 20, 2013 the Consumer Financial Protection Bureau announced an enforcement action against payday lender Cash America International, Inc., one of the largest short-term, small-dollar lenders in the country. The company has agreed to reimburse up to $14 million to approximately 14,000 people for robo-signing practices related to debt collection lawsuits. The company will also pay a $5 million penalty for the violations and other misconduct.

Problems with Military Lending Act

Submitted by Anonymous (not verified) on Mon, 11/25/2013 - 01:57

According to Dealbook, NY Times, the Military Lending Act has some serious loopholes (11/22/13)
The Military Lending Act is supposed to protect our military from being preyed on by unscrupulous short-term lenders.  Here is a summary of what the Act is designed to do.  Lenders covered by the Act are prohibited from issuing rollover loans to pay off any prior loan, unless the new loan has more favorable terms than the prior loan.

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