Wells and USAA mortgage refi, credit card news of the week

Thanks goodness for credit card reform. Compared to the old days it is really nice to get email reminders when a credit card payment is due. Confirmation emails are wonderful. What happened to huge profits generated by credit card companies when they “forgot” to mail a statement, just to make you pay interest on “zero …

Overview of the Bankruptcy Abuse Prevention and Consumer Protection Act :: Financial Scams

New Bankruptcy Law Key Points Here are key points, changes, and considerations. The bankruptcy laws were changed in 2005-2006, and much of the new law was pushed by credit grantors, finance companies, and shady politicians like Bob Ney of Ohio and lobbyist Jack Abramoff. Here are some points to consider: 1 Means Test for Chapter …

19 indicted in foreclosure rescue scam, equity stripping

Federal officials announced the indictment of 19 people today in what they call the largest “foreclosure rescue” scam in the nation, one that allegedly took in more than $12 million and affected more than 100 homes. Officials with the FBI, IRS and the U.S. attorney’s office say the defendants ran an “equity stripping” scam targeting …