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: 
Credit and Debt Blog
A Service of Debtors Unite, Inc.
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31
Jul 2008
Lender to Delinquent Homeowner: Don’t Leave!
Calls for members of Congress to limit oil speculation may cause the bubble to burst in oil markets. The reason is that it could shut out buyers of oil commodities that do not actually intend to receive delivery of oil. If Congress passes such a limit, it could cause price drops of $1 or more per gallon of gasoline.
23
Jun 2008
IRS Raises Mileage Deduction a Whopping 8 Cents
The Internal Revenue Service announced that the mileage deduction will increase from 50.5 to 58.5 cents beginning July 1, 2008. This increase is an adjustment to “better reflect the real cost of operating an automobile,” according to IRS Commissioner Doug Shulman.
20
Jun 2008
Hundreds Arrested in Mortgage Fraud Probe
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.
09
Jun 2008
FTC Examines Debt Settlement Problem
The Federal Trade Commission has scheduled a workshop to examine the proliferation of debt settlement companies that promise debt relief but rarely help consumers improve their financial situation. The FTC wants to see what impact these for-profit companies have on debtors and on the businesses they owe money to.
06
Jun 2008
Thinking About Settlement? Think Again!
Debt settlement sure sounds good when you are getting collection calls. Imagine, you can make much smaller payments to a debt settlement company and they will help you pay cents on the dollar and avoid judgments. This is the pitch, but if you fall for it, you will really feel the sting!
04
Jun 2008
Consumer Bankruptcies Down But Rising
The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 was implemented to reduce consumer bankruptcy filings. Apparently, it worked.
23
May 2008
Are Stimulus Payments Taxable Income?
The Economic Stimulus Act of 2008 has provided working families with a boost to help with soaring costs. The purpose is to reduce the effects of recession. The payments we received certainly are helpful. However, will we be taxed on these payments?
12
May 2008
Foreclosure Hits Former Bash Brother
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.
05
May 2008
Stimulus Payments Trigger Debt Settlements
The economic stimulus payments received by households in 2008 is intended to increase consumer spending. It was designed to soften the recessionary pressures caused by the credit crunch.
Many consumers, however are using it to catch up on late bills. Debt collectors are finding that many consumers are receiving substantial stimulus payments, which could be used as a lump sum payment to settle an old debt.
