Ark Law Group, PLLC

Category: Content
Type: Blog Article

Generated 11 hours ago

Ark Law Group, PLLC

Category: Content
Type: Blog Article

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Ark Law Group, PLLC

Category: Content
Type: Blog Article

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  • Foreclosure Stats for 2016: The Good, the Bad, and the Ugly

    Real estate and financial industry analyst RealtyTrac  released data on USA foreclosure statistics for 2016  this month. There is definitely some good news in the report, as year-over-year foreclosure rates have been dropping for fifteen months now. But the news is far from all good, as the foreclosure rate continues to increase in across around one quarter of our country. Let’s take a closer loo...

  • Homebuyer Education is the Best Defense Against Unethical Lenders

    Ethics -- a subject with little true black and white area but a vast gray middle ground. Runner-Up for our scholarship essay contest Brian Kennedy acknowledges the thin line between helping Americans gain the resources they need to buy a new home, and profiteering to a predatory level.Finance may as well be a foreign language to many people; it’s one thing to responsibly balance your checkbook but...

  • Financial Pitfalls to Avoid for First Time Home Buyers

    The “nesting” factor of making a home is a sentimental motive that tops the list of reasons Americans want to own houses. Crafting a place that embodies your family’s interests and touts their heritage is a milestone for many individuals and it creates a tangible token that can be passed from one generation to another.In order to capitalize on this deep-rooted desire, exploitative practices exist ...

  • The Need For More Banking Oversight to Prevent Anti-Predatory Lending

    Today we are touting Fresh Start Scholarship Runner-Up Emma Rodriguez for her well-written account describing how the hopeful immigrant came to American shores and instilled generation after generation with a hard work ethic in hopes of a better life.However, outside of the realty market and obvious scams, many people have fallen victim to those they thought were helping them: banks. The systemic ...

  • The Movement to Block Foreclosure King Steven Mnuchin as Treasury Secretary is Growing

    We wrote last month about the many reasons that Steven Mnuchin is not the right person to become our new Treasury secretary. Well, it turns out I’m not alone in that opinion!

  • Protecting Working Americans is More Important than Protecting Big Banks: Why We Need Dodd-Frank

    Last May, while still on the campaign trail, Donald Trump told Reuters  that he would “dismantle”  the Dodd-Frank legislation. This concerns us greatly. The full name of this huge piece of legislation, the “Dodd-Frank Wall Street Reform and Consumer Protection Act,” reveals exactly why we need it: it regulates the big banks, and it protects consumers.

  • Practical Tools to Own a Home and Avoid Trouble

    Patricia Jacques submit a scholarship essay application which stood out with creativity and design that we are happy to share with you today; more of her work can be found on her artist website. Thinking outside the box, Patricia presented the concept that perhaps the American Dream concept has shifted, and it’s not for purely negative reasons that home ownership rates have decreased in recent yea...

  • What You Should Know Before Buying a Home

    Imagery surrounding the phrase “The American Dream” almost always includes a house- one that’s owned and can be shown off as a symbol of success and prosperity. What’s left out of that imagery, though, is the less than glamorous detail that it also almost always includes a mortgage.That is what one of our essay contestants, Ashley Coffell, reminds us in a submission to our Fresh Start Scholarship ...

  • Fannie Mae and Freddie Mac Introduce New Flex Loan Modification Program for 2017

    Well, here’s some good news for struggling homeowners who are worried about foreclosure, or possibly already delinquent on their mortgage payments. With HAMP (the Home Affordable Modification Program) about to expire, Fannie Mae and Freddie Mac have announced a new loan modification program called the Flex Modification.

  • Why Extending the Mortgage Forgiveness Debt Relief Act Will Help to Slow Down Foreclosures

    2017 is not looking to be a great year for anyone who is dealing with high debt loads or who is having trouble paying their bills. A few days ago, I wrote about the upcoming expiration of the Home Affordable Modification Program, which helps distressed homeowners avoid foreclosure by renegotiating their mortgages - and why that program should be extended. Well, another government program that help...

  • Bias Against Minority Borrowers Has Led to Continued Homeownership Struggles

    One of our highlighted scholarship runners-up, Gino [last name withheld] looked into the exploitations across racial barriers, and the inequity that was found in the numbers at the height of the 2008 housing crisis. Black and Hispanic minority groups suffered disproportionate losses according to several studies. Reports flooded in to show that White borrowers were not denied loans as often as t...

  • This Foreclosure Crisis is Far From Over: Why the Government Should Extend HAMP

    This year is quickly coming to an end. I’m not too happy to see that the government has still given no signs of extending the Home Affordable Modification Program (HAMP) through to the end of 2017.

  • Increased Student Debt Might Be Hurting the Housing Market

    Scholarship essay author Rebecca [last name withheld] brought light to the connection between the decreased number of homebuyers in recent years and the increased student debt (both in number of individual debtors and level of debt.) The supporting data from the National Association of Realtors suggests that younger generations are not buying homes at rates equivalent to their predecessors, and...

  • A Look Into Loan Modification Options

    Loan modification is a process for changing the terms of an existing mortgage to make it easier for the borrower to repay the loan.  Loan modifications occurred in record numbers following the 2008 mortgage and real estate crisis, but modifications still occur today to help struggling homeowners. 

  • This Isn’t Brain Surgery: Ben Carson is Not the Right Pick for HUD Secretary

    Well, here we go again. The president-elect has selected his former rival, Dr. Ben Carson, as his nominee for secretary of the Department of Housing and Urban Development (HUD). So we have yet one more example of a cabinet nominee who will not be working in the interests of “average” Americans.

  • Blockbusting Resurrected

    Our runner-up highlight of the week touts the entry from Dallan Wortham. Dallan talentedly weaves a personal tale in with background information about historic injustices. Rather than listing off many of the common exploitations in the mortgage and real estate industries, this perspective focuses in depth on an unexpected angle: blockbusting. Blockbusting feeds off of racial and classist prejud...

  • Treasury Secretary Appointee Steven Mnuchin: Will He Protect Borrowers from the Big Banks?

    So much for our new president-elect’s promises to “drain the swamp.” Mr. Trump hit Hillary Clinton hard with accusations that she is “totally controlled by Wall Street.” However, by choosing a Wall Street insider, Steven Mnuchin, as his Treasury secretary appointee, Mr. Trump has shown that he prioritizes the profits of the big banks and their executives’ outrageous salaries more than he does the ...

  • The American Nightmare

    Enrique Perez, a University of North Texas student and scholarship runner-up, is well-versed on the Federal Reserve and its influence in banking and government. While the role of the Fed can have complicated intricacies, Enrique connects with the audience by simplifying the system and relating it to the impact on an individual’s day-to- day life. This is pivotal, as he, himself, brings us to the...

  • Is the Dream of Homeownership Actually Deepening the Wounds of a Broken Society?

    Some essay scholarships were penned with technical perfection and filled with detailed historic accounts. Others, like the one from Alex (last name withheld) had a poetic flow written with passion and a true personal vision.

  • How a Mindset of Entitlement Can Turn the American Dream into a Nightmare

      Congrats to Aaron Sumner, author of another essay that deserves commendation from our scholarship contest. While beginning with the definition of the stereotypical American Dream was a common start to many essays, Aaron brought to our attention the concept that if not careful, this dream can become more or less a sense of entitlement for many, rather than a goal to be earned.Over recent history...

  • Unscrupulous Lenders Preying on the American Dream of Owning a Home

    This week, the spotlight goes to Ryan Pletcher, a scholarship applicant who answered our questions with a unique tone in the writing that truly points out the idiosyncrasies of some of the American cultural ideals our society has adopted.Relative to their ultimate costs, many of the tangible luxuries in life are far overvalued. With the extension of debt through mortgages, loans and credit cards...

  • The Altered State of the American Dream

    Kelsey Spragley, a Biology and Chemistry double-major at East Carolina University,submitted an essay in the top tier of finalists. The picture was painted surrounding theidealism and optimism during the climb for the American Dream, but juxtaposes theharsh reality that the picture is often a façade.This essay approached the topic at hand from a different angle than most- one inwhich the racial d...

  • A Runner-Up Essay for the Ark Law Group Fresh Start Scholarship

    We have been so pleased with the essays we received from our Ark Law Group Fresh Start Scholarship program, we've decided to publish them here.

Ark Law Group, PLLC

Category: Content
Type: Blog Article

Generated 5 months ago

Ark Law Group, PLLC

Category: Content
Type: Blog Article

Generated 5 months ago

Ark Law Group, PLLC

Category: Content
Type: Blog Article

Generated 5 months ago

Ark Law Group, PLLC

Category: Content
Type: Blog Article

Generated 6 months ago

Ark Law Group, PLLC

Category: Content
Type: Blog Article

Generated 6 months ago

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