Digital Library & Local Resources

Research concludes that short sale falls into the same "heavy weight" class as foreclosure, deed in lieu of foreclosure, because "they correlate with exceptional riskiness."

Short Sales Credit Risk > Treated Similarly to Foreclosures

"Although short sales represent slightly better risk than foreclosures, they do not perform well enough to merit a more positive treatment in the FICO® Score."

"One out of every two borrowers who experienced a short sale went on to default on another account within two years. That is exceptionally high risk."
"Overwhelming majority of consumers with short sales have some other evidence of mortgage delinquency."

~ Source: FICO (2012)

Most Credit Score Damage > from First Delinquency

Credit Access Following Foreclosure

A Decade or More of Limited Credit Access, and Without Homeownership

2012 Study concluded after 10 years, only:

30% of foreclosed borrowers regain homeownership
10% of of foreclosed borrowers with a prior serious delinquency, regain access to mortgage market.

~ Source: FRBSF | Federal Reserve Bank of San Francisco (November 2012)

Federal Trade Commission

FTC | Facts for Consumers

Credit and Divorce

Credit Reports and Scoring

Credit Repair: How to Help Yourself

Building a Better Credit Report

A Special Note To Women

Credit Issues & Women

Federal

cfpb | Consumer Financial Protection Bureau

Dodd-Frank Wall Street Reform and Consumer Protection Act > created the Consumer Financial Protection Bureau (CFPB)

About cfpb | Core Functions:

Congress established the CFPB to protect consumers by carrying out federal consumer financial laws. Among other things, we:

Write rules, supervise companies, and enforce federal consumer financial protection laws
Restrict unfair, deceptive, or abusive acts or practices
Take consumer complaints
Promote financial education
Research consumer behavior
Monitor financial markets for new risks to consumers
Enforce laws that outlaw discrimination and other unfair treatment in consumer finance

ask cfpb

cfpb | Dispute Error on Credit Report

cfpb | Common Credit Report Errors

cfpb | I can't pay my mortgage loan. What should I do?

cfpb | Mortgage Help > Free Foreclosure Help

cfpb | Owning a Home

cfpb | Understanding Loan Options

cfpb | Mortgage FAQs

Financial Fiduciaries

Conservator | Guardian of the Estate | Attorney in Fact

Free Resources | Surrogate-Specific PDFs Managing Someone Else's Money

cfpb | Easy-to-Understand Guides for financial caregivers:

Powers of Attorney | Attorneys in Fact (Selected by Principal)
Court-Appointed Guardians of the Estate/Property | Conservators
Trustees
Government Fiduciaries: Social Security Representative payees and VA fiduciaries

NCSC | National Center for State Courts

Probate Court Resource Guide

NCPJ | National College of Probate Judges

Summary of Probate Jurisdiction (which varies by state):

the estates of deceased persons
adult guardianship
protective proceedings
mental health
addictive disease treatment
matters concerning developmentally disabled persons

cfpb | Financial Protection For Older Americans | Summarizing Finanical Risks

Uniform Power of Attorney Act

"Description: This act provides a simple way for people to deal with their property by providing a power of attorney in case of future incapacity. While chiefly a set of default rules, the act also contains safeguards for the protection of an incapacitated principal."

NGA | National Guardianship Association

About Guardianship: What is Guardianship?

State Resources

California Courts & Conservatorships

A conservatorship is a court case where a judge appoints a responsible person or organization (called the “conservator”) to care for another adult (called the “conservatee”) who cannot care for himself or herself or manage his or her own finances.

FAQs

Georgia Probate | Judicial Branch of Georgia

Adult Guardianships and Conservatorships

Conservators must file an inventory of assets, an asset management plan and annual financial accountings, all of which are subject to review or audit by the staff of the probate court. The appointment, supervision, removal and discharge of guardians, conservators and their sureties are within the exclusive, original jurisdiction of the probate courts.

Indiana Courts & Guardianships Over the Estate

Ind. Code 29-3-5-4 Considerations for appointment of guardian

Conservatorship Association of Tennessee | CAT

Conservatorship is a legal process by which a court determines that a person cannot make decisions about some or all areas of life. A Conservator in Tennessee can be a person, institution, or agency appointed by a court to manage the affairs of another. Your local court will be able to direct you to the divisions that handle conservatorships.

Appointing a Conservator