Browsing Category: "Financial Press Release"

New Book Offers Critical Advice to Homeowners in Mortgage Default

Thursday, October 9th, 2008 | Financial Press Release

Proven step-by-step strategy for preventing foreclosure, negotiating with lenders, and rebuilding credit is featured in new book The American Nightmare. FREE downloadable excerpts from the book now available at

Washington, D.C. (PRWEB) October 1, 2008 -- A new book offers a lifeline to homeowners unable to make their mortgage payments. Authored by veteran housing counselors, Sylvia Alvarez and Walter Walker Jr., the book, titled The American Nightmare, offers distressed homeowners valuable tips to help avoid, survive and overcome foreclosure. Readers will learn about the most common reasons why people end up in foreclosure, the lender's perspective in the foreclosure equation and what homeowners can do to negotiate a favorable outcome. Published in partnership with the National Association of Hispanic Real Estate Professionals (NAHREP), FREE downloadable excerpts from The American Nightmare are available in English and Spanish. A link is also provided to purchase the book for $14.95.

Strategies Preventing, Surviving and Overcoming Foreclosure
The American Nightmare Book: Strategies Preventing, Surviving and Overcoming Foreclosure

The authors offer clear, practical advice to distressed homeowners in mortgage default, including:

- Benefits of contacting your lender as soon as there is a problem;
- Information to have ready when placing a distress call to lenders;
- Special assistance available homeowners with FHA-insured loans;
- Advantages of consulting a HUD-certified housing counselor;
- How to prioritize your debts;
- The importance of preserving good credit when funds for payments start running short;
- Tips for exploring workout solutions with a lender;
- Resources for finding a qualified real estate agent when selling a home;
- What to do when lenders don't respond;
- Warning signs of predatory lenders and how to report them.

"It's important for distressed homeowners to realize that lenders want to help borrowers keep their homes," says Rebecca Gallardo-Serrano, Chairman of NAHREP. "The American Nightmare authors are encouraging open communication between homeowners and lenders while helping to avoid the pitfalls that can lead to further financial and personal damages."

The National Association of Hispanic Real Estate Professionals, a non-profit 501c6 trade association, is dedicated to increasing the homeownership rate among Latinos by educating and empowering the real estate professionals that serve them. Based in Washington D.C., NAHREP is the premier trade organization for Hispanics and has more than 15,500 members in 48 states and 62 affiliate chapters.


When Will the FSA Stop Barking and Start Biting?

Thursday, October 9th, 2008 | Financial Press Release

If the Financial Services Authority (FSA) is incapable of creating a fair, transparent and effective payment protection insurance (PPI) market, then those responsible for the failure should be put out to pasture, says Burgesses Limited.

Braintree, Essex (PRWEB) October 1, 2008 -- If the Financial Services Authority (FSA) is incapable of creating a fair, transparent and effective payment protection insurance (PPI) market, then those responsible for the failure should be put out to pasture.

Sara-Ann Burgess, MD Burgesses
Sara-Ann Burgess, MD Burgesses

Again, consumer watchdog Which? has been forced into demanding action is taken over the shockingly poor performance of firms in the PPI market. However despite the litany of criticism that has rained down on the market, the regulator has done little to root out poor practice and deter future failures.

Sara-Ann Burgess, director of PPI specialist Burgesses, believes many of the failures of this market stem from the regulator's unwillingness to take decisive action.

"It is time the FSA stopped barking and started biting. There have been numerous reports into this market, which have highlighted the areas that need to be improved. If firms selling PPI do not come up to scratch then they should now expect to lose their authority to trade in this area."

Burgess accepted that some firms had been fined, but said the level they had been fined at was not sufficient to clean up the market or the sanctions numerous enough to make others believe they would be caught.

"There has to come a time when we stop slapping the market on the back of the hand and take it firmly by the scruff of the neck. The FSA's approach of trying to cajole firms into compliance has spectacularly failed and it is the thousands of consumers who have been mis-sold policies that lose out."

Burgess said Which? was right to call for firms found wanting to review their entire book of business and for better information to be available to consumers. However she added: "How many times can the FSA listen to such demands and simply carry on as before? Consumers are losing out because the FSA has shown itself incapable and unwilling of acting decisively in this market."

When providers such as British Insurance can sell policies, which are more flexible and have better benefits for half the price of those still being sold by high street providers, Burgess said the regulator needed to take stock of the situation.

"There is a huge discrepancy between the best and the worst PPI sellers in this market and we need to close the gap and make sure consumers get the insurance they need. The FSA could regulate the products sold, take a much harder line on those found wanting, or stop credit providers selling only their own protection insurance. It has been offered numerous options but has refused to really put its weight behind any of them."

The longer the regulator allows the problems in the PPI market to continue, the more consumers will be negatively affected and the more difficult it will become to really deal with them.

"The FSA needs to find the appetite for this work and quickly," said Burgess. "If the people overseeing the protection market are incapable of doing it properly, then it is time for them to move on. Those firms doing a good job in the market are being let down by the regulator, while consumers continue to get a raw deal because the FSA will not come down as hard as it could and should in this area."


PLS Financial Services Teams Up with V103-FM to Register Voters

Thursday, October 9th, 2008 | Financial Press Release

On Friday, October 3, PLS Financial Services is hosting live V103-FM (WVAZ-Chicago) remote broadcasts during a voter registration drive at three of its Chicago-area PLS locations. On-air V103-FM personalities will encourage area residents to register so that they can participate in the upcoming elections.

Chicago, IL (PRWEB) October 3, 2008 -- PLS Financial Services has joined forces with V103-FM (WVAZ-Chicago) to promote voter registration in the Chicago area. PLS, which manages more than 80 PLS Loan Store, PLS Check Cashers and PLS Tax Service locations in Illinois, is kicking off registration drives at three of its Chicago-area locations on Friday, October 3.

Headlining the event will be live V103-FM remote broadcasts -- featuring on-air personalities -- at each of the three locations. Broadcasting live from PLS locations will be Troi Tyler from 10am to 2pm at 5200 W. North Avenue (North and Laramie) in Chicago; Doug Banks from 2pm to 6pm at 1431 W. 127th Street in Calumet Park; and Ramonski and Joe from 6pm to 9pm at 2507 W. 95th Street (95th and Western) in Evergreen Park.

"We're thrilled to be partnering with V103-FM on our registration drive," said PLS President Bob Wolfberg. "Together, we're going to make sure that more of the citizens in the neighborhoods in which we operate are registered and can exercise their right to vote in November."

V103-FM is a Clear Channel Communications, Inc. station playing "Today's R&B and Old School."

PLS invites the public to visit its locations during the broadcasts to share in the excitement, and to help motivate community members who are not registered to vote. Listeners are encouraged to come to any one of the three participating locations on Friday to register. The official deadline for registration is October 6.

About PLS Financial Services:
Chicago-based PLS Financial Services operates more than 300 financial service centers in Alabama, Arizona, California, Illinois, Indiana, Mississippi, New York, Texas and Wisconsin, with more than 3,000 employees. It is one of the largest, oldest and most distinguished organizations in the check cashing industry, and is a Western Union money transfer network. PLS was recently named as one of Chicago's Largest Privately Held Companies, and also a member of 'Fast50' (Fastest Growing Companies) by Crain's Chicago Business®. The PLS brands include: PLS Loan Store, which provides consumer micro-loans; PLS Check Cashers, which offers check cashing, money transfer services, money orders and bill payments; PLS Vehicle Registration; and PLS Tax Service. More information about PLS is available from Barb Wolf at PLS Financial Services, 300 North Elizabeth Street, Chicago, IL 60607; telephone 312-491-7888.