Attorney Amanda Adrian can review your situation and determine if you have a viable RESPA claim against your servicer. In general, servicers are required by RESPA to evaluate all available loss mitigation options within 30 days and send you a written decision. It may be that your servicer considers your application to be “incomplete” or […]
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The Education Department released a public inquiry, which asked how the Public Service Loan Forgiveness (PSLF) Program can be improved. In just over one month, the inquiry received more than 33,000 responses. Many responses noted that the PSLF process is quite confusing, as individuals were rejected for relief with no clear explanation. According to The […]
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There are approximately 1.6 million homeowners in forbearance, and 850,000 will exit in the first wave. This article details available options for homeowners who will soon be exiting forbearance. Post-forbearance options include modifying your loan, and choosing a payment option. If you wish to avoid foreclosure and are unsure of which path is the best […]
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Out of all the age groups, borrowers that are 62 years and older have the least amount of student loan debt, with an average debt of $30,000 plus. However, this is still a substantial amount of debt. Additionally, as they have had years of interest accruing, it becomes increasingly harder to pay off their debt. […]
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The Federal Housing Administration has announced an extension of the foreclosure moratorium, through September 30. This is a promising decision when it comes to struggling homeowners receiving the financial help they need. If you feel as if you cannot pay your mortgage, many questions may be ruminating in your mind. What happens when you exit […]
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Debts that cannot be discharged in a Chapter 7 bankruptcy case include: -Child support and alimony -Student loans (with some rare exceptions) -Certain taxes -Debts for personal injury case caused by debtor operating a vehicle while under the influence of any substance -Debts to government agencies for penalties and fines -Debts that you did not […]
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If your school closes before you are able to graduate, will your loans be discharged? If you apply to get a discharge under these circumstances, and you meet certain eligibility requirements, then your loans may be discharged. View more information about eligibility criteria here. If you are unsure if you are eligible for a closed […]
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Student loan payments have been paused since March 27, 2020. However, they are set to resume on October 1, 2021. A handful of United States senators are currently working to urge Biden to extend the pause on payments “until at least March 31, 2022”. According to economists, ending the pause may lead to widespread missed […]
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Federal law governing mortgage servicing, the Real Estate Settlement Procedures Act (“RESPA”), gives you the right to submit a “notice of error” to your servicer. Servicers must investigate and respond to your notice in a timely manner, either by confirming and correcting the error or explaining why it determined that there is no error. If […]
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Before you file for bankruptcy, you must take a credit counseling course. Upon completion of this course, you will be granted a certificate. This certificate will be filed alongside your bankruptcy petition. Your petition will detail what chapter you are filing, as well as information about your assets. If you are struggling with debt, contact […]
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