Attorneys

Consumer Finance and Foreclosure FAQs

• Q: Can a creditor give a debtor bad credit?
  A: In many cases, the creditor will give a bad credit rating by reporting a late payment or failure to pay to a credit reporting agency. A bad credit rating may affect … More
• Q: What is the Fair Debt Collection Practices Act (FDCPA)?
  A: The FDCPA applies to everyone who collects consumer debts for someone else, including attorneys who collect consumer debts. While creditors collecting their own … More
• Q: How long does it take to apply for a Hope for Homeowner's Act mortgage?
  A: Processing time will vary, but usually takes approximately 60 days. Consult your lender when you apply. More
• Q: Is there an income restriction to get a Hope for Homeowner's Act mortgage?
  A: There isn't an income restriction, but you will need to demonstrate that you have sufficient, steady income to make the new H4H mortgage payments. More
• Q: How does a collection agency work?
  A: When a collection agency is involved in the collection of an unpaid debt, the debtor sends one payment each month to the agency. The agency's gets a portion of … More
• Q: What is the Truth In Lending Act?
  A: The Act requires all creditors who deal with consumers to make certain written disclosures concerning all finance charges and related aspects of credit transactions … More
• Q: Can I still get a Hope for Homeowner's Program mortgage if I'm already in foreclosure?
  A: If your lender has started already started foreclosure proceedings, you may still be able to obtain a Hope for Homeowner’s Act loan, though it depends somewhat … More
• Q: What is the FHASecure refinancing program?
  A: FHASecure is a refinancing option that gives homeowners with non-FHA mortgages, current or delinquent and regardless of reset status, the ability to refinance into a … More
• Q: What Is a money judgment?
  A: A money judgment in a civil matter is an order issued by a court that one party to the lawsuit is to pay the other party a sum of money. The amount of the money … More
• Q: What is a lien?
  A: Some creditors have special rights to collect debts in the form of liens. Liens may come up in various ways including judgment liens obtained as a result of court … More
• Q: I've fallen on bad times and am having trouble paying my mortgage. What should I do?
  A: Homeowners facing financial difficulties and unable to make their mortgage payments are strongly encouraged to contact their lender. Many lenders offer assistance to … More