Credit Slips
A discussion on credit and bankruptcy.
- The Sandbag Plan
I've been struggling to understand the real point of the Administration's headline-grabbing plan to deal with subprime mortgages. Now, thanks to Bob, I've read it, and the plan seems to be nothing more than a guideline for when some lenders... - Show Us the Fine Print!
From what I've seen, I complete agree with my fellow Credit Slips blogger Elizabeth Warren's characterization of the president's subprime announcement as a "slick deal." It looks like too little with too many loopholes. Although it will help a few... - Slick Deal on Subprimes
Later today George Bush will announce his administration's plan to deal with the subprime meltdown. Instead of a change in the law, this is a voluntary deal negotiated with some large mortgage lenders and mortgage servicers. If it works, it's... - U.S. Bankruptcy Filings Up from One Year Ago But Leveling Off
The monthly filing figures through November 2007 just became available courtesy of Automated Access to Court Electronic Records (AACER). Total U.S. bankruptcy filings in November 2007 were 73,892, but the better way to think about it is that there were... - Reported Deal Reached on Mortgage Relief
The New York Times is reporting that a deal has been reached on a five-year interest-rate freeze for certain home mortgage. Details will be forthcoming, we're told. A few days ago, Credit Slips blogger Elizabeth Warren made a few comments... - S-CHIP Comes to Bankruptcy Court (Please)
A month ago, a debate raged around S-CHIP, the State Children's Health Insurance Program (see here for background from the NYT). In the end, President Bush vetoed a bill that would have expanded the program to make health insurance more... - A Non-Bankruptcy Bankruptcy Solution?
The rumor mill is starting to sketch in details of a deal negotiated Treasury Secretary Paulson and a coalition of big lenders to stop the subprime mortgage meltdown by leaving borrowers in their current teaser rates longer. The idea is... - A National Conversation on Bankruptcy?
Bankruptcy isn't a very sexy political issue. Don't get me wrong: I think bankruptcy policy is critically important to working families. In a world with inadequate health insurance, job insecurity, predatory lenders, family break ups and plain old financial mistakes,... - Fargo (No, not North Dakota -- Argentina)
Just a heads up for another interesting international decision out of the Southern District of New York. Here, Chief Judge (Stuart, not Stan) Bernstein booted an involuntary petition opened against Fargo by some creditors who were unhappy with how things... - No Charge to Call Your Mortgage Servicer?
William Launder at American Banker did a story about my earlier Credit Slips post, What do Phone Sex and Mortgage Servicing Have in Common? In the post, I reported on an actual mortgage proof of claim that listed a the...