In the wake of economic crisis, homeowners are losing their homes to foreclosure in record numbers. For the financially-savvy consumer, however, high foreclosure rates translate to big savings when purchasing a new home. This 1049 word article details how a previously foreclosed home becomes an REO property and explains the process of buying an REO home from locating the property to signing the final paperwork.

Many individuals find out the hard way that filing disputes with the credit bureaus doesn’t guarantee that credit errors will disappear. In fact, consumer disputes often result in incorrect information being verified as accurate. This 403 word article discusses the investigation process that the credit bureaus adhere to, why the process doesn’t properly uncover legitimate errors and what consumers can do to correct their credit records.

With the exception of credit damage, the consequences of leaving a credit card debt unpaid aren’t always immediately apparent. What many consumers fail to realize is that credit card companies and collection agencies can file a lawsuit for unpaid debt years after the consumer defaults – leaving the debtor facing a potential bank levy which restricts his access to his own money. This 861 word article details how a defaulted credit card debt becomes a bank levy, and what consumers can do to stop a levy before it starts.

During an unstable economic climate, collection agencies are more likely than ever to file suit against consumers – sometimes illegally. This 565 word article explains when a collection agency can and cannot legally sue a debtor and the risk factors that make an individual a prime target for a debt collection lawsuit.

Your mortgage lender isn’t the only business entity that can foreclose on your home. Legally, any company to whom you owe an outstanding debt can seek a lien against your property allowing it to foreclose on your property – including your homeowners’ association. This 680 word article takes a in-depth look at homeowners’ associations and explains how even relatively small unpaid debts to a homeowners’ association could cost you your home.

Debt collectors often mercilessly pursue debtors via a constant barrage of collection calls and letters. The goal is to wear the individual down until he pays off the debt simply to make the harassment stop. This 910 word article details how debtors can use federal consumer protection laws to put an end to unwanted communication efforts from collection agencies.