This case illustrates how important it is for Experian, a company that traffics in the reputations of ordinary people, to train its employees to understand the legal significance of the documents they rely on. See generally Rudy Kleysteuber, Note, Tenant Screening Thirty Years Later: A Statutory Proposal To Protect Public Records, 116 Yale L.J. 1344, 1356-64 (2007). Because Experian negligently failed to conduct a reasonable reinvestigation, we grant summary judgment to Dennis on this claim. We remand only so that the district court may calculate damages and award attorney’s fees. As to all other claims under the Fair Credit Reporting Act, we reverse summary judgment for Experian and remand for trial. Dennis is also entitled to attorney’s fees for an entirely successful appeal. 15 U.S.C. § 1681o(a)(2). We refer the case to the Appellate Commissioner for determination of the amount of fees.

Dennis v. BEH-1, LLC, 2007 WL 2769650 (9th Cir. Sept. 25, 2007)

My ARM is adjusting and mortgage will be going up by 380$.  I am current on mortgage but can’t afford an increase.  I called my servicing company and they pretty much said no help because am not late.  So should I risk it and be late???

Martha (more…)

I’ve noticed a thing or two about the subject of foreclosure.  For one, there are plenty of seminars on foreclosure on TV and the internet.  I don’t have a problem with that.  The problem seems to be that the seminars are all geared to buying a home from someone that is going through foreclosure.  Huh?  Where’s the foreclosure help?  So, for a decided change of pace and rather than just complaining about the foreclosure seminar problem, the Broken Credit Blog offers its own free thirty minute online seminar: How To Avoid Foreclosure

There are millions of people searching around for information on how to save their home from foreclosure with a repayment plan, forbearance, loan modification, short sale, deed in lieu, bankruptcy, legal defenses, and on and on.  I say come on in and watch our free avoid foreclosure seminar.  Why?  Because we want you to avoid foreclosure – that’s why.  Now join us by clicking this foreclosure seminar link and learn how to avoid foreclosure. 

What is best for us to do?

We purchased home with $172,000. down.  We made many improvements to home.  We refied for 10 year interest only. 

Our son was living with us and was paying $1,000. a month.  My husband got injured at work and no longer can work over-time (which helped with the payment). We lost $1,000. a month in overtime and our son’s $1,000.

We cannot keep up the house as both my husband and I have major back injuries. 

My husband is getting a settlement for his injuries, but we would like to use this money to purchase a one story small house as we only have 2 children living with us now (we had 5 children living with us).

Should we do a short sale and hope for the best?  Could we or should we purchase another home? 

We have put our lives (thank goodness not our souls) into this house.  But, we feel like the boy who tried to keep the dike from cracking.  Help!!!!!

And thank you in advance for any advice. 

Suzanna (more…)

My husband and I just completed a refi on our home.  We start payments in roughly 30 days.  In the meantime my husband tested dirty on a drug screen from work twice.  He will likely be losing his job, I can’t afford the payment now on only my income, he can’t get another job if he can’t pass a drug screen.  Basically I’m looking at walking away.  (there are other problems).  That’s not my question, only the background. 

What happens if we do not pay the mortgage?  When the house forecloses is there any way that I won’t be dragged down into the muck because of his stupidity?  Will the finance company come after me?  Will the only take the house and sell it?  Can I quit claim deed the house to him and absolve my liability?

Kelly (more…)

I am interested in a pay for delete service.

Kendra

My husband and I built an investment house in Arizona.  We pulled a home equity loan on our primary residence to help with the difference that we needed to build this house.  The economy in Arizona has been hit and our builder filed bankruptcy–all the homes that are around us are now owned by the bank and are just about being given away!!

We have had our house for sale for almost a year with no success–even lowering the price several times.

We now have an offer for 100,000 less than what we built it for (they are willing to do a short sale) but it is what the houses are going for around us. We have been looking into all our options and think a short sale is what we need to do.  We cannot afford to pay two mortgages any longer and now we are 1 month behind.

Well that is the sum of the situation—my question is:

If the lender agrees to do a short sale–will they include the home equity loan in the short sale and how do we make sure that we get a Full Release?

Thanks for your time–

Tina (more…)

I disputed late mortgage payments with all 3 credit bureaus, one of them updated my report that I had no late pays, the other verified it that the late pays were reported correctly and the third change the months of the late pays. 

Is it possible to send a copy of the credit bureau that shows I made no late pays and have it updated that way or do i have to redispute it with the two credit bureaus and hope the creditor updates it to no late pays?

Kleigh (more…)

I live in Florida and have an unpaid judgement on my credit report. I am wondering how long it takes in Florida for the judgement to clear off of my credit report.

Crystal (more…)

I need to know if doing a short sale will “always” show on my credit report as forclosure or short sale affecting for life my credit.

Louie (more…)