… such as Sallie Mae or Bank of America, while public student loans are borrowed directly from the government.  The major differences between the two types of student loans are that private student loans typically come with high interest rates and few flexible repayment options, while government student loans have low interest rates, deferments, and flexible repayment plans that include income contingent repayment plans and loan forgiveness. To give private student loan debtors more equitable …

Tags: Bank of America Government Accountability Office Loan Student loan

… could clear up the matter by paying off the checks and various fees and by attending a financial accountability class.”

One debtor snagged by this debt collection scam, was an elderly woman who wrote a bad check for $27.17 to Kmart.  She was ordered to pay $72.17 in fees, plus another $170 to take an “accountability” class.  The debt collection company claimed to be from the District Attorney ’s office and gave the impression that if they were not paid their exorbitant fees, the …

According to an article in the Star-Telegram, the government and many economists claim that the recession is in its waning days; but job losses tell a different story.

The article said:

“The government releases third-quarter Gross Domestic Product figures on Thursday. Many forecasters say they will show GDP growing at an annual rate of about 3 percent, validating a widely held belief among economists that the recession ended in June or …

Permalink: /job_loss_unemployment/job-losses-continue-to-rise-despite-government-recovery-claims-2/

According to an article in the Star-Telegram, the government and many economists claim that the recession is in its waning days; but job losses tell a different story.

The article said:

“The government releases third-quarter Gross Domestic Product figures on Thursday. Many forecasters say they will show GDP growing at an annual rate of about 3 percent, validating a widely held belief among economists that the recession ended in June or …

Permalink: /job_loss_unemployment/job-losses-continue-to-rise-despite-government-recovery-claims/

According to an article in the Star-Telegram, the government plans use shame (instead of Bankruptcy) to encourage the mortgage industry to modify more toxic mortgages and prevent foreclosure.

The article said:

“By publishing the names of companies that are lagging behind in the government’s plan to ease the housing crisis, officials are counting on public outrage to get the industry on track. The Treasury Department on Tuesday plans …

Permalink: /bankruptcy/the-government-plans-to-use-shame-instead-of-bankruptcy-to-stop-foreclosure/

… says borrowers who owe up 25 percent more than their home’s market value will qualify for government help refinancing their mortgages. The program currently is limited to borrowers who owe 5 percent more than their homes are worth.”

It’s good news that more homeowners will be eligible for the foreclosure prevention plan; but now we just need to convince mortgage lenders to participate. Millions of American homeowners are facing foreclosure despite the investments into the …

Permalink: /dallas_bankruptcy/more-adjustments-to-government-foreclosure-prevention-program/

The government has already “invested” over $75 billion to prevent a millions of foreclosures. But has that plan actually reduced the amount of foreclosures ? The short answer is no. The long answer is a little more complicated. Originally, the government’s foreclosure program was supposed to save over a million American homeowners from foreclosure; but so far, only about 190,000 …

Permalink: /dfw_metro_bankruptcy/are-government-foreclosure-prevention-programs-failing-the-american-homeowner/

According to an article in the Star-Telegram, President Obama wants to create a package of government approved loans that will present less risk and confusion for borrowers and possibly prevent another foreclosure crisis.

The article said:

“If the Obama plan for simplifying the mortgage process is approved, here’s how it might work:

The government would give its seal of approval to a handful of mortgage types – a standard 30-year fixed-rate mortgage and perhaps a few …

Permalink: /foreclosures/president-obama-hopes-to-create-government-approved-mortgages/

According to an article in the Dallas Morning News, office leasing in the Dallas- Fort Worth area has declined by almost 800,000 square feet in the first quarter of 2009. It’s the first large drop in commercial real estate leasing Dallas-Fort Worth has experienced in six years. Many companies are facing slowing sales and the prospect of closing some locations to avoid bankruptcy, making them reticent to sign on to new leases. The prospect of …

Permalink: /breaking-news/dallas-fort-worths-office-space-occupancy-drops-in-2009/

… beginning to show glimmers of hope.

Geithner said the new program will initially seek to harness government and private resources to purchase a half-trillion dollars of bad assets off the balance sheets of banks and said he expects that purchases eventually could grow to $1 trillion.

Supposedly this “bad assets” shopping spree will relieve banks of bad debts which will free them to loan more money to the American consumer. But is that what we really need? And will it really work? …

Permalink: /breaking-news/government-to-buy-banks-bad-assets/

… – that agree to participate. Suppliers to those companies would have to agree to terms of the government-backed protection and pay a small fee for the right to participate.

The Treasury Department said General Motors and Chrysler have already agreed to participate. Auto companies would request funds from Treasury to provide government backing for the money and be required to “make a financial commitment in connection with the support received from Treasury.”

Auto suppliers have …

Permalink: /economy/government-bail-out-for-auto-parts-suppliers/

… of the year. There are going to be a lot of foreclosures despite this foreclosure plan. With the government foreclosure plan the power to modify mortgages is still being left in the hands of the mortgage companies that created the toxic mortgages in the first place. The mortgage companies have already shown that they are often unwilling to modify mortgages in a way that is truly affordable for homeowners, which is why so many homeowners with mortgages voluntarily modified end up in …

Permalink: /loans-mortgages/government-gives-200-billion-more-to-mortgage-companies/