I often get asked for assistance concerning debts that 'someone else' - an ex-spouse, roommate, or child -was supposed to pay, but did not. Anyone who cosigns or guarantees a loan for someone else is legally responsible to pay the loan. The lender is not required to send late notices to the … [Read more...]
Mortgage Service Transfers May Cause Problems
If you are having problems with your mortgage lender, a recent report from the Special Inspector General for the Troubled Assets Relief Program (SIGTARP) may explain why. It is common for mortgages to be sold, or the servicing rights to be transferred from one company to another. Many homeowners … [Read more...]
Phony Debt Collectors
I receive several calls each month from consumers who are being hassled by an unknown debt collector. The caller sounds official, and the caller ID shows a North Carolina phone number. It may even show an official sounding name like "Federal Bureau" or "Process Service". They say the consumer has … [Read more...]