Credit and Debt Blog

(Miryam from Florida) im married my husband has a mtg that behind im only on the deed not on the note. can this ruin my creditm if he get foreclosed? should i take my name off the deed?does the bank report it to the credit beruau or the court? thanks

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When you are looking for an answer to a very specific question, it may sometimes be difficult to find exactly what you are looking for. That is because your situation is unique, and most other situations that you read about are just not the same as yours. Now you can ask your questions directly.

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Massachusetts authorities have announced a new resource for seniors that are considering to apply for a reverse mortgage. The Massachusetts Office of Consumer Affairs and Business Regulation has released online information regarding reverse mortgages.

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With all of the mortgage delinquencies that are occurring, many lenders have been quick to foreclose on properties as an attempt to stem their losses. However, there are also social problems that are causing lenders to allow homeowners in default to stay in their homes until they sell. This is what is happening:

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Hundreds of mortgage professionals have been arrested within the past week, with most arrests occurring Wednesday, June 18. According to the FBI, there may be as many as 1,400 additional investigations, which could lead to many more arrests for fraud.

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Former Major League Baseball star Jose Canseco is walking away from his mortgage. His $2.5 million Encino mansion has been foreclosed after Canseco stopped making monthly mortgage payments.

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HUD Secretary Alphonso Jackson rendered his resignation on Monday. The official date for his departure will be April 18 according to his statement. The reason for his resignation is listed as personal. Jackson is currently being investigated by the Federal Bureau of Investigation over possible ethical concerns.

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White House spokeswoman Dana Perino announced that President Bush will visit a nonprofit credit counseling organization in Freehold, NJ. Originally known as Garden State Credit Counseling, Novadebt has provided credit and housing counseling services nationally as well as in New Jersey.

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Several California mortgage companies were recently shut down by Attorney General Edmund Brown for duping homeowners into “illegal and unconscionable loans.” Lifetime Financial, Nations Mortgage, Greenleaf Lending, Virtual Escrow, Direct Credit Solutions and Olympic Escrow, all owned by Eric Pony and his family, have been forced to cease all operations and have had their assets [...]

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The volunteer income tax assistance (VITA) program has been popular with low and moderate income taxpayers for years. One firm has changed the rules by matching eligible taxpayers with asset-building programs. Instead of simply filing a free tax return, taxpayers are also treated to two of their credit scores. They can find out if they [...]

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