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Boleman Law offers Eviction Resources

Boleman Law is aware of the challenging times many find themselves in due to COVID-19 and unemployment rates. As eviction memorandums across the country expire, many may find themselves in the process of losing their residence.

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Negative impact from housing crash shifts to “interest only” home equity lines of credit

Homeowners who signed up for “interest only” lines of credit 10 to 15 years ago are starting to default as the principal payments kick in. Underwater mortgages are of particular concern to lenders.

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Payday loan business coming under close scrutiny by CFPB

The Consumer Financial Protection Bureau (CFPB) is looking into payday lending and in the next 12 to 18 months may issue guidance or propose regulations for the $46 billion business. At a CFPB hearing in Richmond last week speakers for and against payday loans were heard. Read more …http://www.richmond.com/business/sponsored-content/article_c2fa4046-d884-11e4-a4fd-5b33b58a0231.html

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Croatia cancels the debts of 60,000 poor people.

Croatia cancels debts for 60,000 citizens. But don’t expect the same in the U.S.

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Online payday lending is a growing concern.

Our offices have been abuzz over the past couple of weeks about the recent Pew Charitable Trust report on online payday lending. Among the highlights: 650% APR is typical for lump sum online payday loans.  

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Would Santa take out a title loan against his big red sleigh?

I was watching TV a few days ago when I saw an ad that raised my blood pressure to the boiling point. It showed “Mr. and Mrs. Santa” discussing how to pay for Christmas. Mrs. Santa, in a moment of weakness, recommends taking out a title loan on their reindeer sleigh. They could get up to $5,000, she notes, without a credit check.

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Experts differ on future impact by millennials on real estate.

“In the affordable markets the millennials are already buying in huge numbers.” So says Jonathan Smoke, chief economist at realtor.com speaking at the National Association of Realtors last week. Even with student loan debt and a below par job market, he believes that these 18 to 35-year-olds are the home buyers of the future.

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