Home Loans

Are you troubled by an impending foreclosure on your home? If yes, watch out for scam operators who are especially taking advantage of those who are facing home foreclosures. The US Department of Justice has issued a warning against companies or individuals who refers to themselves as “foreclosure service”, “foreclosure consultant” and other similar names.

Are you troubled by an impending foreclosure on your home? If yes, watch out for scam operators who are especially taking advantage of those who are facing home foreclosures.
The US Department of Justice has issued a warning against companies or individuals who refers to themselves as “foreclosure service”, “foreclosure consultant” and other similar names.

Not An Easy Exit

In October 17, 2005, President Bush has declared the new bankruptcy reform law officially takes effect. According to this law, the borrower in default can file for bankruptcy to stop all collection debts from his lender. The borrower is also required to take credit counseling from a non-profit credit counseling agency accredited by the government. Credit counseling must be done for 180 days before filing Chapter 7 or Chapter 13 of bankruptcy.