Could Private Student Loans Soon Be Discharged in a MN Bankruptcy?

Last month the Obama Administration announced support for a law that would allow people to discharge certain types of student loans in a bankruptcy proceeding. The recommendation that was detailed in a report to Congress from the Department of Education and Consumer Financial Protection Bureau suggested that private student loans should be eligible for bankruptcy [...]

By | 2017-10-10T23:08:50+00:00 August 31st, 2012|General News, News|0 Comments

Minnesota Files Charges Against Utah-Based Loan Modification Company

Earlier this summer, the Minnesota Department of Commerce (“the Department”) filed charges against a company that it says offered unlicensed mortgage adjustments to Minnesotans. Specifically, the Department, through its commissioner Mike Rothman, claimed that a Utah-based company known as CC Brown Law took approximately $134,000 in payments from Minnesotans without delivering the promised services. CC [...]

By | 2017-10-10T23:12:59+00:00 August 9th, 2012|General News, News|0 Comments

Are Minnesota Mortgage Loan Modifications Good or Bad for Homeowners?

A recent study completed by the credit rating company TransUnion Corp. looked at what happens when homeowners receive mortgage loan modifications. Approximately 3.9 million homeowners in the United States, including some in Minnesota, had mortgage loans modified between January 2009 and April 2012. The TransUnion study looked at more than half-a-million homeowners who had loans [...]

By | 2017-10-10T23:15:09+00:00 July 31st, 2012|General News, News|0 Comments

Could New CA Foreclosure Protection Mean Anything to MN Homeowners?

California legislators recently passed what is believed to be among the strongest foreclosure protections for homeowners in the United States. The law is widely expected to be signed by the Governor.   The new protections would make California the first state in the nation to prohibit banks from a practice known as “dual tracking.” Dual [...]

By | 2017-10-10T23:16:20+00:00 July 31st, 2012|General News, News|0 Comments

Will New Rules Help Minnesota Homeowners Who are Behind on Mortgages?

In April 2012, the federal government’s Consumer Financial Protection Bureau (CFPB) announced that it was considering new rules to increase transparency and accountability in the mortgage servicing industry.   If the proposed rules become final rules, mortgage services would be required to:   Warn homeowners before any interest rate adjustments. Redesign mortgage statements to clearly [...]

By | 2017-10-10T23:19:33+00:00 July 16th, 2012|General News, News|0 Comments