… If those companies end up with no access to credit they will be forced to make some tough financial decisions.

The $49.7 billion in ABS issuance in the second quarter of 2009 is significantly more than the $13 billion in the first quarter.  This difference is mainly comprised of TALF sales.  Many experts agree that there just aren’t enough investors that want to buy ABS without TALF being around.  TALF offers the investors leverage that otherwise wouldn’t be there.

What …

Comment by Jacob Decker: … the credit crisis fog to lift until at least 2011. …

Category: Credit Card Negotiation , Credit Crisis , Economy

Tags: Asset-backed security Federal Reserve System Financial services TALF Term Asset-Backed Securities Loan Facility

Permalink: /credit_card_negotiation/the-credit-crisis-recovery-might-be-in-trouble-if-talf-program-expires/

If you’re in financial hot water, it may be too late to do anything but consult an experienced Fort Worth bankruptcy attorney to help bail you out.

If you’re in financial hot water, it may be too late to do anything but consult an experienced Fort Worth bankruptcy attorney to help bail you out.  However, even then, the following steps will definitely go a long way toward improving your financial (and …

Tags: Credit card Finance Financial crisis fort worth Health insurance Insurance

Permalink: /chapter_7_bankruptcy/fort-worth-attorney-tips-on-avoiding-financial-trouble/

… Committee are proposing legislation that would create a special bankruptcy process for failed financial institutions.

Members are discussing a two-stage process that would create a preferential option for bankruptcy followed by a regulator-managed resolution if bankruptcy fails, the person said. The source requested anonymity because the draft is in flux and has not been made public.

Dodd’s proposal would give the Federal Deposit Insurance Corp the authority to dismantle large …

Tags: Bankruptcy Chris Dodd Failed Financial Institutions fdic

Permalink: /bankruptcy/special-bankruptcy-process-for-failed-financial-institutions/

… Star-Telegram the rising number of foreclosures and unemployed residents are creating a budget crisis for homeowners associations, especially in Dallas- Fort Worth area. With many properties vacant and other homeowners failing to pay their dues, the associations are struggling to provide basic maintenance.

The article said:

“To increase collections and balance their books, many associations are raising dues, imposing emergency fees and even forcing foreclosures. Others are saving …

Comment by mitchell drimmer: … the curve on this crisis. Mitchell Drimmer

Category: Credit Crisis , Economy , Foreclosures , Fort Worth Bankruptcy

Permalink: /fort_worth_bankruptcy/foreclosure-crisis-hits-homeowners-associations-hard/

According to an article in the Star-Telegram, despite the growing foreclosure crisis, the nation’s largest banks such as Goldman Sachs and JPMorgan Chase have not changed their reckless behavior.  Many of the banks who have received tens of billions of dollars in federal bailout money are still up to their old tricks and risky investments.

The article said:

“That Wall Street is making money again in essentially the same ways that thrust the banking system into …

Category: Breaking News , Credit Crisis , Economy

Permalink: /breaking-news/as-foreclosure-crisis-worsens-banks-take-bigger-risks/

… official…it looks like the commercial real estate industry is plunging into a foreclosure crisis due to reduced lending, stagnant consumer spending and a whole lot of bad loans. According to an article in the Star-Telegram, the commercial real estate foreclosure crisis is getting so bad that even Morgan Stanley reported a loss of more than $1.2 billion mostly caused by commercial real estate foreclosure losses. And if the foreclosure crisis worsens, many experts expect that some …

Category: Credit Crisis , Dallas Lawyer , Foreclosures

Permalink: /foreclosures/anatomy-of-the-commercial-real-estate-foreclosure-crisis/

… dynamics by promoting a plan that would use some of the interest the government collects from the financial industry bailout to grant unemployed homeowners facing foreclosure low-interest loans to help them keep their home.

How The Program Would Work

The government would use some of the interest they collect from payments on the $700 billion Wall Street bailout to give unemployed homeowners low-interest loans for a period of 12 to 24 months. Homeowners facing foreclosure because of  …

Permalink: /foreclosures/loans-for-unemployed-homeowners-may-not-slow-the-foreclosure-crisis/

… proposal is passed, banks would only need to abide by the federal rules set by the new Consumer Financial Protection Agency. Under current law, state regulating bodies would have the power to impose even tougher rules regulating credit cards, mortgages and savings accounts. Already the new legislation governing credit cards, mortgages and savings has been weakened. Congressman Frank as agreed to drop a requirement that would obligate every bank to offer customers “plain vanilla” – …

Category: Credit Crisis

Permalink: /credit-crisis/state-legislators-seek-to-shield-banks-from-tough-credit-card-rules/

… from our recession.  Lisa Smith lists five basic principles that should be garnered from this financial crisis:

1.  Risk matters…but protecting what you have is just as important as trying to get more.

2.  Experts don’t know everything…blind trust is a bad idea.

3.  You can’t live on averages… if the train is about to crash…get off.

4.  You shouldn’t buy what you don’t understand…save the “set it and forget it” principle for a Ronco product.

5.  You …

Tags: Bankruptcy Credit card Financial crisis Personal Finance Recession

According to an article in the Bloomberg, the foreclosure crisis is likely to worsen as more than 7 million properties facing imminent foreclosure hit the housing market in the next year or two.

The article said:

“The “huge shadow inventory,” reflecting mortgages already being foreclosed upon or now delinquent and likely to be, compares with 1.27 million in 2005, the analysts led by Laurie Goodman wrote today in a report. Assuming no other …

Comment by Jacob Decker: … of the foreclosure crisis. The reason is that mortgage …

Permalink: /foreclosures/foreclosure-crisis-awaits-second-wave/

… the Federal Housing Administration (FHA) has been terribly weakened by the foreclosure crisis and many analysts fear that the housing agency may need a taxpayer bailout.

The article said:

“On Friday, the FHA said its financial reserves had sunk below mandatory levels for the first time in its 75-year history. While officials insist the agency won’t require a taxpayer rescue, falling home prices, rising unemployment and shady lenders continue to drive up default rates.” …

Permalink: /foreclosures/federal-housing-administration-shaken-by-foreclosure-crisis/

… before filing bankruptcy; but many forget or don’t realize that they must also take a personal financial management course within 45 days after filing bankruptcy.  Whether you’re filing for Chapter 7 bankruptcy or Chapter 13 bankruptcy, all debtors are required to take this course.  If a debtor fails to take the personal financial management course after filing bankruptcy their bankruptcy case could be closed.

If you forget to take your personal financial management course after …

Comment by Jim Ince: The financial management course is not a …

Permalink: /bankruptcy/you-must-take-a-personal-financial-management-course-after-bankruptcy/