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For example, a lender advertising a home loan might have advertised the loan with a 5% interest rate, but then when one applies for the loan one is told that one must use the lender's affiliated title insurance company and pay $5,000 for the service, whereas the normal rate is $1,000. The title company would then have paid $4,000 to the lender.
Under the terms of the historic $25 billion settlement announced last week, the country's largest mortgage servicers must pay $17 billion to distressed borrowers in the form of loan modifications ...
A portion of each payment is taken as fees for the debt settlement company, and the rest is put into the trust account. The consumer is told not to pay anything to the creditors. The debt settlement company's fees are usually specified in the enrollment contract, and may range from 10% to 75% of the total amount of debt to be settled. [13]
You can send a letter to request documentation of a debt, or even dispute that a debt belongs to you. Limit how debt collectors can contact you. If you set rules about when and how debt collectors ...
This is the prepaid mortgage insurance premium, if needed. This is the insurance premium some lenders charge for loans with little equity. 903 - Hazard Insurance Premium; This is used to record hazard insurance premiums that must be paid at settlement in order to have immediate insurance on the property.
Debt settlement is a process that lets you settle large amounts of debt for less than you owe, and it is offered through for-profit debt settlement companies. Typically, these programs ask you to ...
The fraud at Guaranteed Security was a carefully orchestrated bank robbery. But the thieves disguised themselves with the help of accountants and brokers and lawyers rather than wearing silk-stocking masks. The allegations by Florida insurance regulators against accounting firm Coopers & Lybrand ultimately led to a $4.5 million settlement. [1]
With federal student loans, wage garnishment can continue until your loan balances plus interest and fees are paid back, but it can also end if your loan is removed from default. The federal ...