Total Bankruptcy

• Bush's Plan For Foreclosure Rescue
  This week, President Bush announced his plan to help homeowners struggling to pay their mortgages and facing foreclosure. The plan includes a five-year freeze for interest rates on certain mortgage loans, but many critics have written the plan off as...
• One More Thing Hurting Your Credit Score
  Overdue fines from red-light cameras can push your credit score down.
• Paulson Announces Potential Break on Subprime Mortgages
  Secretary of the Treasury Henry Paulson has noted that a plan to freeze rate resets on adjustable rate mortgages is in the works, and could be finalized as early as this week.
• Norwegian Town Feels Housing Pinch
  A Norwegian town invested millions of dollars in Florida's housing market, and has lost an amount equal to nearly a quarter of its yearly revenue. Now, public services could be at risk as the town leaders seek ways to save money.
• Protestors Demand Foreclosure Relief from Countrywide
  California homeowners protested outside the offices of Countrywide Financial this week, demanding a moratorium on foreclosure proceedings and increased efforts at mortgage loan-modification.
• Foreclosure Listings Added to Trulia Searches
  Trulia.com, a website that details residential real estate listings across the country, has announced that it will begin including properties in foreclosure in its database, according to reports from RISMedia.
• Read this Article Before You Do Your Holiday Shopping!
  Taking Out Store Credit Cards Can Lower Your Credit Score explains what you need to know before you enter the malls this holiday season and find yourself confronted with solicitations to apply for a store card and save 10%...in virtually every store you visit.   That 10% savings could end up costing you much bigger money in the long run.
• Presidential Hopefuls Address Foreclosure
  Democratic hopefuls' pre-primary speeches reflect the need to address the mortgage foreclosure crisis--and to start offering some solutions.
• Mortgage Fraud Perp Gets 40 Years
  A mortgage fraudster is sentenced to 40 years behind bars in Texas.
• Beware of Jury Duty Scam!
  If someone calls you and says you missed your date for jury duty and could be arrested as a result, hang up the phone. According to various postings on the Federal Bureau of Investigation's website, this is a scam. It...
• Bank Survey Results from Federal Reserve
  The past three months have seen a lowered demand for loans coupled with stricter lending standards by banks.
• Foreclosure Worries Lead to Suicide
  KATU News reports that an elderly Oregon couple committed suicide this week by running their car in their garage while leaving the house door open. Officials involved with the investigation reportedly suspect that the couple believed they had few choices...
• House Bill Could Nix Credit Counseling for Some
  HR 3609, a bill now waiting for approval in the House, would ease some of the burden for debtors trying to file for Chapter 13 bankruptcy to avoid foreclosure. Currently, one of the eligibility requirements for Chapter 13 bankruptcy is...
• Pitfalls You May Not Know About Credit After Bankruptcy
  An editorial in the New York Times applauds Congress for finally trying to rein in predatory credit practices like increasing your interest rate for a late payment on any bill, not just your credit card bill.

  Especially after a bankruptcy, consumers need to understand the fine print in their credit card agreements. Post-bankruptcy debtor education can teach you how to protect yourself while Congress tries to stamp out these credit company tricks.

• Merger Causes Massive Layoffs
  The Chicago Daily Herald reports that a merger of Bank of America and LaSalle Bank will cause 2, 500 layoffs in Chicago and 1,500 in Michigan. Last month, the consulting firm Anderson Economic Group estimated as many as 10,500 people in the Chicago area could be laid off. Monday's announcement may have come as a relief to thousands of LaSalle Bank employees.