Who Are These People?

Long gone are the days of walking into your local bank, taking a loan in exchange for a mortgage, and having that bank serve as the mortgagee and the entity to which you owe money for the life of the loan. Today, loans are bought, sold, chopped up, and packaged for a variety of reasons. […]

Has Your Lender Charged You for an Insurance Policy You Did Not Need?

Regulators and courts are scrutinizing lenders and loan servicers for buying force-placed insurance policies. A primary concern is the relationship among loan servicers, lenders, and insurers. So what is force-placed insurance? Essentially, lenders require that borrowers maintain insurance on their homes and sometimes cars. If a borrower fails to maintain insurance, or if insurance premiums […]

Is a Foreclosure-Related Letter an Attempt to Collect a Debt?

Foreclosure-related notices are treated differently than other types of debt collection letters. There are several important factors that determine whether they are subject to the Fair Debt Collection Practices Act. The Fair Debt Collection Practices Act prohibits various actions (like harassment and inaccurate statements) by so-called “debt collectors.” Successful claimants under the FDCPA can obtain […]

Big Corporations Don’t Want to See You in Court

You probably think that if your consumer rights are violated by a bank, credit card company, or other corporation, you will have your day in court. However, what few consumers know is that many consumer contracts (like your loan, bank deposit, or credit card agreements) contain forced arbitration provisions. Arbitration is a process whereby a […]