First Quarter 2012 Minnesota Real Estate and Foreclosure News

Last month, RealtyTrac warned Minnesotans that the foreclosure problem might not be over despite recent good news in the housing market. It is important for homeowners, particularly those having trouble paying their mortgages, to understand both the good news and the potential causes for concern. First the Good News   The good news about the [...]

By | 2017-10-10T23:30:19+00:00 May 6th, 2012|General News, News|0 Comments

Historic Student Loan Debt and Unemployment Rates for College Grads

Recently, the Project on Student Debt (“the Project”) released new information about the financial status of new college graduates. The Project found that student debt and unemployment were at historic highs for the class of 2010, the most recent college graduates for whom data is available. Nationwide, the class of 2010 had an average of [...]

By | 2017-10-10T23:31:11+00:00 May 4th, 2012|General News, News|0 Comments

Important Decision Reached in Debt Consolidation Case

On March 21, 2012, a state judge in Vermont ordered a Texas-based debt consolidation company to repay more than 200 people a combined $350,000 and to pay about $2 million in penalties. The consumer fraud lawsuit alleged that the company known as CSA – Credit Solutions of America, LLC used unsubstantiated advertising claims to get [...]

By | 2017-10-10T23:32:34+00:00 April 16th, 2012|General News, News|0 Comments

Minneapolis-Based US Bankcorp to Be Fined for Foreclosure Activity

Earlier this year, the federal and state governments agreed to a $25 billion settlement related to alleged foreclosure abuses. Late last month, eight banks that were not party to that settlement were notified that they may be subjected to fines by the Federal Reserve for allegedly improperly foreclosing on homeowners. The eight banks that were [...]

By | 2017-10-10T23:33:09+00:00 April 15th, 2012|General News, News|0 Comments

February 2012 Minnesota Jobs Report is In – What You Need to Know

The most recent Minnesota unemployment numbers were recently released. As of February 2012, Minnesota had regained only half of the jobs lost in the recession, and the jobs that were regained do not necessarily mean financial security for Minnesota families. During February 2012, Minnesota gained about 6,200 jobs, bringing the most recent three-month total of [...]

By | 2017-10-10T23:34:05+00:00 April 14th, 2012|General News, News|0 Comments

Bank of America Announces Foreclosure Alternative Pilot Program

Last month, Bank of America launched a new pilot program designed to give homeowners an alternative to traditional foreclosures. According to Business Week, the program provides qualifying homeowners at risk of foreclosure with the opportunity to become renters of their homes. The program started in March 2012 with fewer than 1,000 people in three states. [...]

By | 2017-10-10T23:34:32+00:00 April 12th, 2012|General News, News|0 Comments

Debt Consolidation Loan Warning Issued to Debtors by NEFE

Last month the National Endowment for Financial Education (NEFE) warned consumers about the potential dangers of debt consolidation loans. According to NEFE, more than half of Americans have debt that they are worried about and about three quarters of all Americans have debt. While some Americans are looking for ways out of debt on their [...]

By | 2017-10-10T23:35:21+00:00 March 31st, 2012|General News, News|0 Comments

Minnesota Foreclosures Drop in 2011 but the News Isn’t All Good

The results of a new study by a consortium of Minnesota housing agencies found that foreclosures in the state dropped by about 17% in 2011. The study found approximately 21,300 Minnesota foreclosures in 2011. That is about 25,000 fewer than the number of Minnesota foreclosures filed in 2010. While 21,300 foreclosures is the lowest number [...]

By | 2017-10-10T23:39:23+00:00 March 29th, 2012|Chapter 7 Bankruptcy News, News|0 Comments