Know Your Options - Avoid Foreclosure
Fannie Mae (FNMA), a government-sponsored enterprise, which buys home loans from lenders in the secondary mortgage market, has a website to assist borrowers, who are having difficulty meeting their home mortgage obligations. The website - "Know Your Options" - provides a wealth of information for all borrowers, whether or not FNMA owns your loan. You can visit the site at http://www.knowyouroptions.com/
A Borrower's Guide to an FDIC Insured Bank Failure
Links off-site to the FDIC's website. The FDIC has created a new guide for borrowers entitled "A Borrower's Guide to an FDIC Insured Bank Failure." The guide addresses a range of issues from general explanations about the FDIC's process of dealing with bank failure to specific guidance on how consumers can seek loan modifications, additional funding, or additional borrower assistance.
Consumer Financial Protection Bureau launches inquiry on elder financial abuse
The Consumer Financial Protection Bureau (CFPB) announced a public inquiry to learn more about the many ways in which older Americans are financially exploited and about the best practices for elder financial management. Read more on the CFPB website...
Credit Cards: What You Need to Know About the New Credit Card Rules
The Federal Reserve's new rules for credit card companies mean new credit card protections for you. Here are some key changes you should expect from your credit card company beginning February 22, 2010.
FDIC Consumer News - Summer 2011
The goal of FDIC Consumer News is to deliver timely, reliable and innovative tips and information about financial matters, free of charge. Current and past issues are online at www.fdic.gov/consumernews. The Summer 2011 issue of FDIC Consumer News features tips on how to prepare financially for a natural disaster, a fire or another tragedy, especially one that requires people to evacuate their home and not return for days or weeks. Other timely topics in the latest issue include what to know before signing up for person-to-person, or P2P, electronic payment services using a smartphone or mobile computer; how to solve mysteries of old bank accounts; and an update on new standards for and disclosures by mortgage loan professionals.
FTC's Mortgage Assistance Relief Services Advance Fee Ban Takes Effect
Under a new federal rule, as of January 31, 2011, companies that offer to help homeowners get their loans modified or sell them other types of mortgage assistance relief services are no longer allowed to charge up-front fees. Under the rule, a mortgage assistance relief company may not collect a fee until the consumer has signed a written agreement with the lender that includes the relief obtained by the company. Read more...
Georgia's Credit Freeze Law
On May 13, 2008 Governor Sonny Perdue signed into law a credit freeze bill that will provide Georgia consumers with the ability to place a freeze on their credit file for only $3. Read more...
Information about the New Federal Making Home Affordable Program
Links off-site to a website where you can learn about the Making Home Affordable Refinance and Modification Options. See also resources and information on http://www.financialstability.gov/
Managing Your Money in Good Times and Bad (FDIC Consumer News)
The Federal Deposit Insurance Corporation issued tips to help consumers spend less, save more, protect against fraud and borrow wisely at any time, but especially during a difficult economy. The advice was published as a special edition of the FDIC Consumer News (the Winter 2008/2009 issue) entitled "Managing Your Money in Good Times and Bad."
NMLS Consumer Access (links off-site)
The Nationwide Mortgage Licensing System and Registry(NMLSR)Consumer AccessSM is a free service for consumers to confirm that the mortgage company or mortgage professional with whom they wish to conduct business is licensed in their state. The site contains licensing/registration information on mortgage companies, branches and loan originator professionals licensed by state regulatory agencies participating in the NMLS. NMLS may not include all licensed or registered companies, branches or professionals. State agencies join NMLS in phases and not all agencies are fully participating on NMLS at this time. NMLS does not include information on applications not yet approved by a state.