article thumbnail

Serving a Defendant in a Residential Foreclosure Action by Publication

Jimerson Firm

A residential mortgage foreclosure action is initiated in Florida by filing a verified complaint with the appropriate court. It is important for the plaintiff to check the local rules in the county where the foreclosure action is filed to determine if there are any procedural requirements. 49.08, Fla. 1)(c), Fla.

article thumbnail

North Carolina AG Permanently Enjoins Debt Settlement Business

Collection Industry News

and North Carolina’s Unfair and Deceptive Trade Practices Act, N.C. fees for its services and misleadingly represented that it would provide refunds to consumers in the event that it could not obtain loan modifications or prevent foreclosures. § 14-423, et seq. , View source.].

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

House Passes Debt Collection Bill

Collection Industry News

The decision also clarified that businesses engaged in non-judicial foreclosure proceedings are not debt collectors under the FDCPA. The bill, the Comprehensive Debt Collection Improvement Act, passed the House by a vote of 215-207. It now heads to the Senate for consideration.

article thumbnail

Explained: The Adrenaline-Driven Rise to GameStop Stock

Credit Corp

A few weeks ago, the company ( stock trading as ticker: GME) traded around lows of ~$19. Well, A Trading Euphoria Caused By …. For those of you unfamiliar with stock trading, the two firms had shorted the GameStop stock by borrowing the stock to sell at a given price, with the idea that they will purchase back the stock later.

Trade 134
article thumbnail

Make Sure to Verify a Debt Collection Affidavit Before Signing

FFGN COLLECT NY

In 2015, the Federal Trade Commission came down on Chase for robo-signing affidavits. Chase was one of 13 financial institution censured for robo-signing documents in support of debt collection suits and foreclosure. Such is the case again with Chase. But robo-signing wasn’t just happening within Chase.

article thumbnail

How to Invest $1,000 in Real Estate

Credit Corp

Publicly-Traded REITs. These companies trade on public stock exchanges, which makes them extremely liquid. A combined strength and weakness of publicly-traded REITs is their dividend yield. Because they trade on public stock exchanges, they tend to move in disturbing correlation with stock indexes.

Trade 106
article thumbnail

National Financial Awareness Day: Why Financial Literacy is Beneficial For Everyone

True Accord

Overall, lower levels of financial literacy end up contributing to increased rates of bankruptcy, defaults, and foreclosures. And individuals become more susceptible to going further into debt if they don’t have a solid foundational understanding of what happens when they first fall behind.