• Home
  • News
    • Politics / Govt
    • Legislature
    • Crime / Courts
    • Health / Medicine
    • Archives
  • Sports
    • Badgers
    • Packers
      • Titletown Report
    • Brewers
  • Contact Us
    • Reporters
  • Affiliates
    • Affiliate Support

Wisconsin Radio Network

Wisconsin News and Sports

You are here: Home / News / Bad loans, bad mortgages and bankruptcies

Bad loans, bad mortgages and bankruptcies

August 1, 2007 By WRN Contributor

Wisconsin bankruptcy filings are up fifty per cent  for the first half of the year mostly because people can't keep up with their mortgages.

Eric Skrum with the Bankers Association says there are predatory lenders out there. That's why the consumer needs to be armed with knowledge. Talk with several lending institutions when shopping for a loan and know exactly what you are being offered.

And if you get behind on mortgage payments, talk with your lender right away. There may be a payment plan that can keep you in your home.

Skrum says consumers should thoroughly understand what they're getting when they sign on the dotted line. There are things to look for that could avoid a questionable loan that might get you in financial trouble later.

Skrum says check your paperwork for blank spaces and false statements. Is your lender talking about multiple re-financings? Are you being asked to borrow too much or beyond your means?

Skrum says the key to cleaning up the risky loan mess is education and borrowers who are honest about their financial situation .

AUDIO: Jim Dick reports ( 1:06 MP3 )

Share this:

  • Facebook
  • Twitter

Filed Under: News





compeer financial celebrates beef month

Featured Stories

Evers and Republican leaders reach shared revenue deal

Wisconsin DNR warns of elevated fire danger this week

Baldwin announces U.S. Senate reelection bid

‘Tragic, terrible’ – Sheriff on Barron County police officers deaths

Two police officers killed in Barron County shootout

TwitterFacebook

Sports Headlines

Evers’ AmFam funding plan ‘a nonstarter’ with Assembly Republicans

New pitch clock could speed up MLB games this season, says UW expert

Giannis breaks franchise scoring record, Bucks beat Nets in OT

Wisconsin’s Davis declares for NBA Draft

Badgers to face Arizona State in Las Vegas Bowl

More Sports

Tweets by @WRN

Get our news delivered to your inbox:

Enter your email address:

Delivered by FeedBurner

Copyright © 2023 · Learfield News & Ag, LLC