Upside Down Mortgage

Posts Tagged ‘payday’

Predatory Lending Military

Question: Why don't we protect our military members from their spouses?

There are laws to protect our military members from predatory lending, but not predatory spouses! My fiance's ex-wife cheated on him from day one, took all of his pay and his enlistement bonus 24 hours after it reached the account! She didn't have POA, but no one put extra security on the account for a military member that was deployed. Sgt. Miller came back from Iraq wounded for the second time and recovering from severe wounds, to learn that his wife left him and took all of his money. Why won't our government protect our soldiers from spouses who marry for money and medical benefits?

Answer: Understand its a bad situation but like in the real world a person has to take personal, extra steps and ressponsibility themselves to make sure this doesn't happen. I am sure if this guy knew his wife was cheating from what you said, day one, he knew what else she might be capable of. Not saying he derserved it because he didn't. If a person is deploying he or she has the right to stipulate and make arrangements for a responsible party to handle their banking needs. Mostly everything is online now so they can set up payments so that no one has to touch anything. Also, power of attorney would have been good. I personally suggest that when people marry they keep their own personal account for situations just like this. You don't have to worry about taking a name off an account, etc. Even if folks don't want to admit whats going on, at least research what is available so if they do need to utilize certain resources stuff like this doesn't happen. That sucks...totally.

Testimony of Elisabeth Hagans

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Predatory Lending Texas

Payday loans are a wonderful convenience for those of us who do not have credit scores high enough to get a loan from the bank and do not have friends or family that are in a position to help us take care of our problem. This is the main reason that people get payday loans; they simply do not have the credit record to go to the bank and there is no one else to bail them out of the situation.

If you think you need a payday loan, ask yourself whether it is really an emergency or not. Are your kids hungry and you do not have enough groceries in the cabinet or refrigerator to feed them with? Is the electricity going to be cut off tomorrow?

Is there something wrong with the car you use to get to work in? Are you out of gas money to get to work until your next paycheck? Any of these things qualifies as an emergency and you should definitely consider a payday loan if you cannot get the funds from anywhere else.

But, there are a lot of people who take out payday loans for frivolous items or purposes that are totally unnecessary, just so they can have whatever it is that they want now instead of later. This really does not make common sense; if you want something that is not a necessity to live until your next paycheck, do yourself a favor and save up the money yourself over a period of time so you will not have to pay the interest on the loan. It is significantly more than what you will pay a bank.

The payday loan industry is in danger of being outlawed in a number of states in the United States and some have already succeeded in making them illegal, such as Georgia. Please use your payday loan funds responsibly and only for emergency purposes, since these really are what the loans are intended for. It is not predatory lending.

Predatory payday loan lenders do exist, but many actually do care about the people they do business with and will work with them to help make things as easy as possible. If you have ever used a payday loan to just barely keep from losing your home or your vehicle, you were probably grateful that the store was there to give you the loan. Help the industry by using these loans for emergencies only.

About the Author:

Rachel Yoshida is a writer and promoter of
No Fax Payday Loans and
Austin Cash Advance Sites.

Article Source: ArticlesBase.com - Sometimes Payday Loans Are Plainly Needed By Some

Texas Mortgages

Predatory Lending Ohio

The economic recession has affected a lot of homeowners. And in areas where the home values have declined significantly, many of them are now realizing the truth that they are unable to pay for their mortgages. As most of them were not ready for the risks involved with these loans, they are now finding themselves applying for countrywide loan modification to help avoid foreclosure.

Countrywide Financial Corporation is a Financial advertising and service company (which means that it has possession of stocks of other companies) that develops residential (Countrywide) mortgage banking and other dealings.

Through its National Homeownership Retention Program, the Bank of America provides their customers the significant help and resources that they need to maintain homeownership. It also aids their customers to achieve $8.4 billion to 400,000 Countrywide borrowers nationwide. Not only this, but Countrywide has started positive outreach to help suitable borrowers.

At this time, the Federal government is now encouraging all lenders to consider principal reduction for borrowers who meet certain requirements. If you are a borrower who meets a lender's requirements for a countrywide loan modification option, then chances are you are qualified for a reduction in your principal balance. Although not every homeowner can avail of this option, those who are suited to this will find it very helpful in avoiding possibilities of foreclosure. Here are some helpful guidelines to help you know if you might be eligible.

First, Countrywide settled claims that were valued to be $8.6 billion dollars to homeowners who were holding risky loans and ever since that original settlement, two other states were also included to help other borrowers as well. Borrowers living in these states have the option of applying for a principal reduction. The states that are included in the special Countrywide Loan Modification program are:

Arizona, Texas, California, Connecticut, Iowa, Illinois, North Carolina, Michigan, Florida, Ohio, and Washington - as well as Tennessee, Mississippi and Pennsylvania.  If you live in one of these states, then you may be qualified to participate in the Countrywide loan modification program offered as part of the predatory lending lawsuit.  However, should you be ineligible, then you can still apply for a reduction of payment in order to avoid foreclosure.

Second, for those homeowners who are stuck in Pay option Arm loans (this is where the loan balance actually augments with each minimum payment), then you are a good candidate for a principal reduction.

In most cases, each Countrywide loan modification is examined on a case by case basis, but borrowers can make the odds better by understanding the lender’s requirements for acceptance and the proper procedures on how to how to complete the application properly. It is highly recommended that homeowners apply for a Countrywide loan modification as most lenders have set aside billions of dollars to assist borrowers in saving their homes.

About the Author:

A Computer Engineering student and loves to travel. Reading current news in the internet is one of his past times. Taking pictures of the things around him fully satisfies him. He loves to play badminton and his favorite pets are cats.

For more inquiries, you may want to visit Countrywide Loan Modification or call directly at 1.888.864.1663 (TOLL FREE) for details.

Source - Countrywide Loan Modification: Do You Qualify for a Principal Reduction

Steve Stivers: Against Cracking Down on Predatory Lenders (OH-15)