If you’re not a lawyer, the legal system is a bit of a mystery, and Maryland’s system is no exception. While Maryland does not have… Read More »What Just Happened? Consumer Rights for Victors in Maryland District Court
Frequently in student loan and other collections cases, a person gets sued in Maryland, but the contract specifies that the law of a state other… Read More »The Law of the Forum and Maryland Student Loan Statute of Limitations
Plaintiffs in federal court must file long, detailed complaints to avoid motions to dismiss for failing to meet the Supreme Court’s Twombly/Iqbal pleading standards. So, it can be vexing when a corporate defendant files answer with boilerplate affirmative defenses. The Supreme Court has not addressed what standard defendants must meet when they plead, and the… Read More »Striking Boilerplate Defenses in Federal District Court
Sometimes known as the “so what?” motion, the Defendant who files a Motion to Dismiss is saying that “even if everything you say is true, it still does not state a legal claim. It’s just a nothing-burger.” Because of the financial, emotional, and logistical commitment of prosecuting a lawsuit in federal court, the last thing… Read More »What Is The Standard Of Review For A Motion To Dismiss In The United States District Courts In The Fourth Circuit?
Get a copy of all three credit reports from the only government sanctioned website: www.annualcreditreport.com
The Supreme Court gave a unanimous opinion in Jesinoski v. Countrywide Home Loans, Inc., agreeing in substance with an amicus brief filed by five consumer and civil rights groups: National Consumer Law Center, Center for Responsible Lending, AARP, ACLU and the National Association of Consumer Advocates. This is a rare victory before the Supreme Court for consumers.
Read More »Truth In Lending Rescission: A Letter Is EnoughStrong bankruptcy laws are part of America’s legal heritage. They allow people who make mistakes, or are just unlucky, a chance to start over by erasing their debts. Bankruptcy is not an easy process, since it involves either “liquidation” through Chapter 7 or several years in a Chapter 13 payment plan that takes up almost… Read More »Mortgages Discharged In Bankruptcy: Servicers Bombard Consumers With Confusing Disclaimers
A report by The Atlantic reveals that the Housing and Urban Development Department (HUD), has been selling large numbers of delinquent, FHA-insured mortgages. When a borrower can’t afford to pay her mortgage, the bank that owns the mortgage will make a claim on its FHA insurance. FHA pays the bank and in exchange, it becomes… Read More »FHA Won’t Reduce Your Mortgage, But it Will Sell it to Investors at a Steep Discount
Ocwen is a mortgage servicing company: it’s paid to collect payments from consumers in Maryland and elsewhere, deal with escrow accounts, and sort out any problems that arise. Servicers do not necessarily own the mortgage itself, only the “servicing rights”. The CFPB’s guidance for examining mortgage servicers explains “[t]his is because some entities have expertise in payment processing and other servicing responsibilities, while others seek to invest in the underlying mortgages.” Mortgage servicers are supposed to help the mortgage repayment process run smoothly and to deal with problems – such as mistakes in escrow or missed payments. According to Ocwen’s slogan “Helping homeowners is what we do!”
Homeowners Sue
However, lawsuits filed in Maryland and around the country accuse Ocwen of everything from blatant fraud to utter incompetence, all to the detriment of the homeowners it claims to be helping. A lawsuit filed in Florida recently accuses Ocwen of needlessly forcing homeowners into foreclosure by turning minor problems into major ones. NPR reports the story of one couple who were charged massive fees after an error regarding property taxes:
Read More »Ocwen Servicing Abuses in Maryland and Elsewhere: Foreclosures Spark Lawsky Investigation and Lawsuits
Maryland debt relief programs won’t do or mean anything without truly understanding the intersectional issues that arise when speaking about debt disparity in the state.
Policymakers in Maryland and elsewhere should read “The Debt Disparity: What Drives Credit Card Debt in America”, released in the Fall of 2014 by the think tank Demos (www.demos.org).
Demos conducted a survey of nearly 2000 consumers to discover how consumers with outstanding credit card debt differ from those with no credit card debt.
The study found that those with credit card debt are more likely to have no college degree, no health insurance, to have experienced recent unemployment and to be underwater on their mortgages. They are also more likely to have children.
Here are some more details of the results:
