By Chris Tobias The current economic recession has impacted virtually every family across America. Many businesses have slowed their production, while others have completely shut down and laid off scores of dedicated workers. When a household’s breadwinner is suddenly laid off, it can be very hard to break the news
By Diana Olick, CNBC After a Labor Day week lull, demand for mortgages rose sharply last week from homeowners and homebuyers. Total mortgage application volume was up nearly 5% for the week, according to the Mortgage Bankers Association’s seasonally adjusted index. Mortgage interest rates, however, didn’t move, and haven’t for
By Chris Tobias In these tough economic times many individuals and businesses are finding it difficult to meet their financial obligations. If your situation is not imminently dire there are steps you can take to ward off a bankruptcy. Establishing and maintaining good credit is not as hard as one
By Leslie A. Pappas, Bloomberg Law A recent Second Circuit decision is adding fuel to a growing momentum in the courts to allow borrowers to eliminate certain types of private lender-issued student loans in bankruptcy. The U.S. Court of Appeals for the Second Circuit, siding with a student debtor, July
By Sarah Szczypinski, CNET In addition to its vast human toll, the pandemic has ravaged the financial resources of millions of US homeowners. Since the Coronavirus Aid, Relief, and Economic Security Act passed last year, more than 9 million Americans hit pause on making monthly mortgage payments, entering what’s technically
By Zack Friedman, Forbes Biden may extend student loan relief beyond September 30, but there’s one major dilemma. Here’s what you need to know. There are two parallel paths for your student loans happening right now. The first — student loan cancellation — is about the possibility of wide-scale student
By Teadra Pugh and Jacquelyn Palmer, Bloomberg Law After the Consolidated Appropriations Act of 2021 (CAA 2021) was signed into law last December, bringing several new and temporary amendments to the Bankruptcy Code, some bankruptcy attorneys were optimistic that the provisions specifically designed to address commercial real estate (CRE) leases
By Pamela Foohey, Dalié Jiménez and Christopher K. Odinet, The Hill Relief programs created during the COVID-19 pandemic provided many Americans with pauses on their largest debts, particularly mortgages and student loans. Other people came to agreements with auto loan and credit card lenders about payment. This relief helped many
By Annie Nova, CNBC It’s now been more than a year that borrowers haven’t had to make a payment on their federal student loans. That break is currently scheduled to end in September. However, U.S. Education Secretary Miguel Cardona told the Senate Appropriations Committee this month that he was involved
By Ayelet Sheffey, Business Insider As one of his first actions as Education Secretary, Miguel Cardona cancelled student debt for about 72,000 borrowers defrauded by for-profit schools. On Wednesday, 18,000 more got student-debt relief. The Education Department announced in a press release that it had approved 18,000 borrower defense to
