The CFPB stated today “[w]e are at really an unusual point in history. I don’t think anybody has ever before seen this many mortgages in forbearance at one time that are expected to exit forbearance all at one time.”
No kidding. This may be the calm before the storm type of thing if mortgage servicers don’t get it right when all these forbearances end.
Living in Florida sometimes it seems like the pandemic is firmly in our rearview. While we are still working from home, it’s mostly because we want to be part of the solution, and can get our work done with our cloud server. But people are out and about pretty regularly now.
Free course available on April 7, 2021 at 4:00 EST by Student Loan Attorney Christie Arkovich.
Everyone is asking what they can expect from a Biden administration’s student loan relief. In this course, you will learn about the CARES Act and its extensions, including COVID-19 forbearance; interest waiver for direct loans; rules for ongoing collections; and other nuances of these new federal laws protecting borrowers during COVID-19. We will also discuss the tax forgiveness waiver for all student loans provided by the stimulus bill and anticipated forgiveness in future bills. Traps for the unwary will be identified, and solutions will be provided by a nationally known student loan attorney.
For our CPA and financial planner friends, tomorrow I’m giving a FREE crash course in Covid-19 Student Loan Relief — what’s already happened, what can be expected from the Biden Administration.
You can sign up for Wed. April 7 at 4:00 EST. You can watch it later also and 1.0 CPE credit is available for this. Here’s the sign up page: https://www.cpaacademy.org/webinars/a0D2S00000puV4rUAE
Hope to see you there!
Here is an advertisement that a client sent me today from a loan she took out when she was 19 years old and didn’t know any better. She regrets it now when the balance has ballooned for her private loans to 100k and she only makes 35k after being out of school for many years now. We won’t discuss the additional 350k of federal loans, but at least there are income driven plans to fall back on for those.
There is no safety net for private loans and many lenders took advantage.
I’ve received a letter today from Equifax stating that the 4 disputed XXXX accounts have been “Deleted from the credit file”. I checked my Equifax report through credit karma and they are indeed gone making my score jump from 595 to 749!
One giant leap for studentkind! Over 150 points in one fell swoop. If you need help addressing your student debt or debt that is incorrectly being reported on your credit reports, please reach out to us.
It was very enlightening what financial advisors saw regularly in their practice:
Being taken advantage of by a family member was the most reported problem seen by these financial advisors. More so than scams re: extended warranties or long lost relatives from Nigeria!