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The Lenders Giving Borrowers Second Chance Loans

Credit Corp

And her bank wouldn’t give her and her husband Larry a loan to buy a replacement home. Brenda’s still tending her garden, though, thanks to a second-chance loan from the New Hampshire Community Loan Fund-a Community Development Financial Institution (CDFI). Flexible loan amounts. Flexible loan amounts.

Lender 98
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Banking & Financial Services Industry Webinar: Properly Handling Mortgage Foreclosures

Jimerson Firm

On Tuesday, March 23, 2021, four of our partners presented Properly Handling Mortgage Foreclosures. This presentation was moderated by the firm’s managing partner, and is geared towards special asset departments of banks and financial institutions. The borrower filed for bankruptcy during the foreclosure lawsuit.

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Can a Lender Pursue Debt Collection After a Charge Off and 1099-C Issuance?

Jimerson Firm

When account owners have an account that reflects a negative balance, the lender is faced with a myriad of options and obligations with regard to the pursuit of that debt. As a result, a loan that is charged off is written off and deemed a loss of principal and interest. See Caplinger v. 1.6050P-1(b)(2)(i).

Lender 98
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Arizona Court of Appeals Narrows Statute of Limitations Application

Troutman Sanders

A lender must enforce the debt through foreclosure or a lawsuit within six years after the cause of action accrues. A recent decision provides further guidance for lenders and loan servicers enforcing land sale contracts where title to the property does not transfer until the loan is paid in full. In Velazquez v.

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How to Check Your Credit Score Without Hurting It

Credit Corp

Your credit score is an important aspect of your financial health and is oftentimes used by lenders, landlords, and even employers to determine your creditworthiness. Whether you’re applying for a loan or simply want to stay on top of your credit score, these tips will help you access your credit information without causing any harm.

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COVID-19 Collections Impact Bulletin: State Responses (December 2020 Update)

Burr Forman

Financial institutions, servicers, lenders, and debt collectors must stay up-to-date on evolving federal and state laws stemming from the COVID-19 pandemic, as such laws impact all facets of consumer loan servicing and debt collection.

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How Rising Interest Rates Can Affect Your Interest Rate After Bankruptcy

Sawin & Shea

Raising interest rates typically slows down the economy as well as the rate of inflation, but these rates have a direct impact on people’s ability to obtain new loans. Here’s what you need to know about getting a new loan and interest rate after bankruptcy. Usually, this is cents on the dollar.