Some Tennessee consumers may enter the New Year with overwhelming debt. Many consumers get swept away by the multitude of exciting product offers over the holidays and overspend despite their good intentions not to do so. This may lead to consumers giving in to the...
Month: December 2014
Should Chapter 13 plans allow mortgage strip-downs? Pt.4
The securitization of mortgages was a very profitable business for many financial institutions. This created a massive demand for mortgages that could be bundled together and sold as a security on the investment market.This is what drove the invention of the "No...
Should Chapter 13 plans allow mortgage strip-downs? Pt.3
By the time the lender has completed all of the necessary steps required to foreclose and sell a property, they are likely to have lost a substantial portion of their loan value. This means, in reality, if they had accepted a principal reduction from a borrower in a...
Should Chapter 13 plans allow mortgage strip-downs? Pt.2
The working paper from Federal Reserve Bank of Philadelphia suggests that the bad effects of allowing mortgage strip-downs or cram-downs in Chapter 13 would not be as significant or adverse as the banking industry suggests.In the 1980s, some Circuit Courts of Appeal...
Should Chapter 13 plans allow mortgage strip-downs?
One of the most troubling aspects of the housing bubble was the way in which it affected home valuations. Because homes were seen as a "can't lose" proposition, banks, other lenders and even those securitizing bundled mortgages cared little for the true value of the...
Can a short payoff save you from foreclosure?
Tennessee homeowners who are facing foreclosure may be desperate to find a solution. Not knowing how long they will be able to hold off foreclosure in order to provide a roof over the heads of their loved ones can lead to high levels of stress and anxiety. A homeowner...
Credit card debt on store cards may harm your financial health
Tennessee consumers may agree that the time approaching the holidays is the time when their resistance to credit card spending is at its lowest. As if that is not enough pressure, store assistants use all their skills to pressure consumers into taking on store-issued...
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