Ilyce Glink Show Notes – September 6, 2009

Credit Card Misbehavior.

Thomas called to say that his credit card company offered him a 7 percent lifetime rate on the card. Now, they want to raise it to 11 percent – too bad for Thomas. Is this fair? Hardly. But it strikes my memory that the same thing happened in New York and Andrew Cuomo, the Attorney General, was litigating it. I’ll try to find out and provide an update.

If this is happening to you, please contact:

  • Your State Dept of Banking and Finance (In Georgia, Georgia Dept. of Banking and Finance: 770-986-1633)
  • Your State office of Consumer affairs (Governor’s office of Consumer Affairs: (404) 651-8600)
  • Attorney General’s Office

Old Credit, New Credit.

Jamie had old credit card debt from 1996 that fell off his credit history in 2004. He just received a 1099 for the debt amount from a debt collector. Does he havce to pay it? This is an interesting new twist on a debt collector’s moves. Do you have to pay taxes on an old debt? You might, if it was reported as a chargeoff. Is there a statute of limitations issue? Perhaps.

I told Jamie to get in touch with the Texas Consumer Complaint Center which is staffed by law students from the Law School at the University of Houston. I’ll also do some research and see if I can come up with an answer as well.

Taylor Bean & Whitaker

Nothing has slowed down here. Check out these stories for more details on the Taylor Bean & Whitaker problems.

Read More About Taylor Bean & Whitaker Mortgage Company

Taylor Bean & Whitaker Mortgage company Update September 1 2009

Taylor Bean and Whitaker Mortgage company Hotline Information for Borrowers

Taylor Bean Whitaker Mortgage Company Customer Advice From Freddie Mac

Taylor Bean and Whitaker, Colonial Bank, Bank of America Update – August 31, 2009

Taylor Bean Whitaker Mortgage Company Update

Taylor Bean Whitaker Mortgage Company Customer Advice From Cenlar

How to Profit From Foreclosures: NEW DISCOUNT

We’ve already sold one-third of all available tickets for our How to Profit from Foreclosure event on October 24, 2009 at the Renaissance Waverly.

If you want to learn how to buy a foreclosure, whether because you’re going to live in it or because you want to start investing in real estate, you’ll want to be at our event. We have a NEW DISCOUNT that will be good only through Labor Day.

Go to our How to Profit from Foreclosure site and use the discount code: summer You’ll receive 30 percent off the price of our early bird ticket price. This will be the last discount we offer on the early bird pricing, so don’t miss out. The regular ticket price is $39.99 and that’s what you’ll pay once the early bird special is over.

The best part about our How to Profit From Foreclosures event is that you’ll get real information about how to invest successfully in real estate from the professionals and investors who are doing it every day. You’ll hear from people who have actually bought properties and are managing them, and from attorneys and enrolled agents who help you figure out what kind of tax structure to use (LLC or Inc.?). You’ll hear from real estate agents who are helping their clients evaluate these properties every day, and property managers who are working hard to keep these properties running.

Don’t miss out. Sign up today for our How to Profit from Foreclosure and join us on October 24th for the best real estate information you’ll get all year.

Free Book and Free Ebook Offer

I still have copies of my book 50 Simple Steps You Can Take to Disaster-Proof Your Finances and The REALLY Useful Guide to Working Smarter Not Harder available to you.

Go to the ThinkGlink.com Store and check out our FREE PAPERBACK BOOK page. You pay the shipping and we’ll send you books for free.

We have a free ebook offer: Buy 3 get 1 free. Just go to the ThinkGlink.com Store and type in the discount code: freeebook

Here’s how it works: You pick out the three ebooks you want. Put in the discount code, and we’ll take one ebook off your bill automatically. You’ll get 3 ebooks for the price of 2 ebooks! Great deal.

VA Loan Modification and Loan Modification Hell

So many people are feeling like they’re in loan modification hell. Yikes!

We got a call from John whose nephew bought a house and has a $112,000 mortgage. The house is worth $60,000. The nephew has lost his job and was turned down for a loan modification from the NACA folks. They told him to call the VA directly.

That’s good advice. If you have a VA loan, contact the VA directly to get information about a VA Loan Modification or a Streamline Modification. There should be no fees.

I’m filling in for Clark Howard tomorrow – Hope you can join us. In the meantime, HAPPY LABOR DAY!!!