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September 2012 Archives

Home loan approval after bankruptcy may not take as long as you think

Many people in Ohio were hit hard by the recession. This blog has discussed a number of issues that Cincinnati area residents have faced. The foreclosure crisis generally had an adverse impact on the housing market, leading to a spike in underwater mortgages nationwide. Layoffs during the recession put a squeeze on many household budgets.

Former Olympian Rulon Gardner files for chapter 7 bankruptcy

Another athlete has filed for bankruptcy protection after falling behind on debt. Many Ohio residents may remember Olympic gold medalist Rulon Gardner from his performances in the 2000 and 2004 Olympics where Gardner won the gold and bronze medals, respectively, on the wrestling mat. Others may remember the wrestler from his appearance on NBC's "The Biggest Loser."

Ohio housing market shows signs of rebound, P.2

In the last post, this blog reported that home sales and the median prices of homes showed significant signs of improvement in Ohio in August. Economists say that increases in home sales and process are signs of an improving economy. But for some Cincinnati residents, the statistic may not seem to mean much in the face of continuing debt that families took on since the recession hit household budgets hard.

Ohio housing market shows signs of rebound, P.1

The Cincinnati, Ohio, area outpaced the nation in home sales last month. In fact, home sales in the greater Cincinnati area rose by 16 percent, when compared to the same time frame last year. In four counties of Southwest Ohio (Hamilton, Butler, Warren and Clermont), total closings in August soared 16.8 percent over the reported closings in August 2011. The August housing market in Southwest Ohio saw its highest number of home sales in five years, according to the Cincinnati Area Board of Realtors.

FTC says debt collection complaints soar since start of recession, P.2

In the last entry, this blog discussed the recent news from the Federal Trade Commission that complaints about aggressive debt collection practices of bill collectors have skyrocketed in recent years. One woman in Ohio is suing a New York creditor, which is discussed in this post. But the issue debt collection tactics that can blindside a person can happen to people from any walk of life.

FTC says debt collection complaints soar since start of recession, P.1

Despite consumer protection laws, the Federal Trade Commission says that complaints about over-zealous bill collectors have seen a sharp rise in the past four years. The agency says that complaints about debt collectors and creditor harassment have spiked by 73 percent since 2008. Sources claim that the significant jump in complaints over creditor harassment is a sign of a bad economy. The sharp increase in complaints roughly coincides with the economic collapse.

Prepaid debit cards grow on college campuses

Many students in Ohio have settled into a dorm room, or apartment near campus. In the past, students were often inundated with offers from credit card companies, providing access to plastic. However, tighter consumer protection rules have generally reduced the overall presence of credit card offers that students can receive while on campus.

Foreclosures in Ohio take longer than national average

While each case has its own unique circumstances, the real estate data firm RealtyTrac says that an Ohio foreclosure takes an average 18 months to complete. In some areas of the state, an Ohio foreclosure can take significantly longer, and some places proceed more rapidly. But the 18 month average is longer than the national average of 378 days, or shortly more than one year.

Court: Debt collectors can't mislead people as to their rights

The economic recession has created financial stress on countless people in Ohio and the rest of the nation. Some of the people hit hardest by the recession were recent graduates, who, after accumulating loads of student loans, found that they could not secure jobs that seemed so promising when they entered school.

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Phone: 513-729-7196
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Colerain, OH 45247

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