November 2015

Credit card debt: Middle class problems and bank profits

By Neil Crane of The Law Offices of Neil Crane LLC posted in Credit Card Debt on Monday, November 30, 2015.

Despite historically low interest rates, consumer credit card rates have remained at uncontrollably high rates. Although borrowing rates for America's largest banks and credit card issuers have held steady at record lows for the past five years, consumer borrowers have seen no relief in the form of reduced interest rates or monthly payments. This means that:

Mortgage modification disaster results and for-sale-by-everyone neighborhoods

By Neil Crane of The Law Offices of Neil Crane LLC posted in Mortgage Modification on Sunday, November 22, 2015.

If you reside anywhere in Connecticut, you now live in neighborhoods racked by foreclosure, vacant homes and massive real estate sell-offs. Foreclosed homes and record large sale inventory throughout Connecticut threatens even the tepid recovery of recent years.

Failed loan modification process and results

By Neil Crane of The Law Offices of Neil Crane LLC posted in Mortgage Modification on Wednesday, November 18, 2015.

The Inspector General's recent report on the government's HAMP program showed universally terrible results for homeowners. Of all HAMP Applications in Connecticut, 70% were denied according to the July 29, 2015 Inspector General's Report on TARP results.

In summary: