Latest news with #Foreclosure
Yahoo
a day ago
- Business
- Yahoo
New Data: Consumer Debt Crisis Drives Legal Stress to 5-Year High
- Foreclosure inquiries rise nearly 30% year-over-year as Americans struggle to stay afloat - Personal Finance questions up almost 9% over first quarter - LegalShield Consumer Stress Legal Index highest since November 2020 ADA, Okla., July 14, 2025--(BUSINESS WIRE)--Foreclosure legal inquiries jumped nearly 30% year-over-year in the second quarter as mounting consumer debt pushed Americans to seek legal help at the highest rate since November 2020, according to new data that offers an early warning sign of household financial stress ahead of the next Federal Reserve debt report. LegalShield's Consumer Stress Legal Index (CSLI) climbed 4.4% from March to June, driven by surging foreclosure and consumer finance legal inquiries, all rooted in increased debt. "Debt is the common thread behind rising consumer stress," said Matt Layton, senior vice president of consumer analytics at LegalShield. "Whether it's missed mortgage payments, maxed-out credit cards, or mounting buy-now-pay-later balances, debt-fueled household spending is forcing people to ask a lawyer for help." Data analysis shows the Foreclosure Index jumped 13.3% during the quarter and is now nearly 28.9% higher than a year ago, marking the steepest annual increase in three years. The Consumer Finance Index also climbed 8.7% since March, as more consumers sought legal assistance for debt-related issues such as defaults and loan modifications. Americans in Debt LegalShield's CSLI report comes ahead of the Federal Reserve Bank of New York's scheduled release of second quarter household debt numbers in early August. Household debt has steadily increased since 2013 following a period of decline after the 2008 recession. Household debt balances stood at a record $18.20 trillion in Q1 2025, a 0.9% rise from the end of 2024. In particular, mortgage balances grew by $199 billion and home equity lines of credit (HELOC) increased by $6 billion. More concerning is that overall debt delinquencies increased to 4.3% at the end of Q1, the highest level since 2020, including rising delinquencies for mortgages and HELOCs, as well as student loans that began reporting to credit agencies in Q1 following a nearly five-year pause due to the pandemic. "LegalShield data tends to move ahead of official reports, and right now, it's signaling deeper trouble," said Layton. "In the coming weeks, we expect the next debt and foreclosure reports to reflect what calls to our provider lawyers are seeing — more households slipping into unsustainable financial territory." Consumers Take Action LegalShield data tracks actions taken by consumers with more than 150,000 calls to provider lawyers each month. The LegalShield dataset is built on hard data based on American households' real-time legal needs that reflect financial pressures and opportunities. This stands in contrast with polling based on opinion and sentiment. The latest rise in consumer stress reveals sharp increases in foreclosure and consumer finance inquiries, and those findings suggest that more Americans are struggling with debt, housing costs, and financial obligations, even as overall spending remains strong; the latest Personal Consumption Expenditures (PCE) data shows consumer spending is up 6.9% year over year in May. Key Research Findings: Consumer Stress Legal Index (CSLI) Highest in More Than 5 Years CSLI: 68.2 (up from 65.3 in March; up from 61.8 YoY) +4.4% quarter-over-quarter | +10.4% year-over-year The CSLI has increased four straight months, signaling intensifying economic stress for consumers despite a resilient stock market and stable employment figures. Foreclosure Spike Signals Growing Housing Strain Foreclosure Index: 46.8 (up from 41.3 in March; up from 36.3 YoY) +13.3% quarter-over-quarter | +28.9% year-over-year Rising insurance premiums, property tax reassessments, and adjustable-rate mortgage resets are pressuring homeowners. LegalShield's Foreclosure Index closely tracks foreclosure filings nationally. Rising Debt Fuels Surge in Consumer Finance Legal Issues Consumer Finance Index: 106.4 (up from 97.9 in March; up from 101.7 YoY) +8.7% quarter-over-quarter | +4.6% year-over-year Consumers are increasingly seeking legal assistance for a wide range of financial issues with a steep rise in the index in the second quarter. Analysis of the data indicates households are feeling the effects of delinquent debt, sustained interest rates and persistent inflation on everyday essentials. Bankruptcy Dips in Q2 But Remains Elevated YoY Index: 32.1 (down from 36.4 in March; up from 29.5 YoY) –11.8% quarter-over-quarter | +8.8% year-over-year Bankruptcy inquiries eased in the short term but remain significantly elevated compared to last year. The dip may reflect temporary stabilization due to seasonal factors, but high debt levels and consumer delinquencies still loom. Study Methodology LegalShield tracks an average of 150,000 monthly calls to provider lawyers based on more than 90 areas of law. That data comprises more than 35 million consumer requests for legal services dating to 2002. The CSLI is the flagship index reporting consumer stress, based on three subindices: Bankruptcy, Consumer Finance, and Foreclosure. About the Research: LegalShield Consumer Stress Legal Index As part of LegalShield's mission to ensure every person has equal access to justice, the company mines its data for insights policymakers can use to make a real, positive impact in their decision making. The LegalShield Consumer Stress Legal Index comprises three subindices that reflect the demand for various legal services. LegalShield's dataset includes more than 35 million consumer requests for legal assistance since 2002, averaging approximately 150,000 calls received monthly. The CSLI uncovers the daily challenges people are facing and provides actionable intelligence to help policymakers and industry leaders bridge those gaps. Released quarterly, view past reports on the CSLI page on About LegalShield: For more than 50 years, LegalShield has provided everyday Americans with easy and affordable access to legal advice, counsel, protection, and representation. Serving millions, LegalShield is one of the world's largest platforms for legal, identity, and reputation management services protecting individuals and businesses across North America. Founded in 1972, LegalShield, and its privacy management product, IDShield, has provided individuals, families, businesses, and employers with tools and services needed to affordably live a just and secure life. Through technology and innovation, LegalShield is disrupting the traditional legal system and transforming how and where people receive legal guidance and services, with access to hundreds of qualified, trusted attorneys and law firms. LegalShield and IDShield are products of Pre-Paid Legal Services, Inc. To learn more about LegalShield and IDShield, visit and View source version on Contacts LegalShield Media Contact: Hollon Kohtz, Director of Communicationshollonkohtz@ Sign in to access your portfolio
National Post
a day ago
- Business
- National Post
New Data: Consumer Debt Crisis Drives Legal Stress to 5-Year High
Article content – Foreclosure inquiries rise nearly 30% year-over-year as Americans struggle to stay afloat – Personal Finance questions up almost 9% over first quarter – LegalShield Consumer Stress Legal Index highest since November 2020 ADA, Okla. — Foreclosure legal inquiries jumped nearly 30% year-over-year in the second quarter as mounting consumer debt pushed Americans to seek legal help at the highest rate since November 2020, according to new data that offers an early warning sign of household financial stress ahead of the next Federal Reserve debt report. Article content Article content LegalShield's Consumer Stress Legal Index (CSLI) climbed 4.4% from March to June, driven by surging foreclosure and consumer finance legal inquiries, all rooted in increased debt. 'Debt is the common thread behind rising consumer stress,' said Matt Layton, senior vice president of consumer analytics at LegalShield. 'Whether it's missed mortgage payments, maxed-out credit cards, or mounting buy-now-pay-later balances, debt-fueled household spending is forcing people to ask a lawyer for help.' Article content Data analysis shows the Foreclosure Index jumped 13.3% during the quarter and is now nearly 28.9% higher than a year ago, marking the steepest annual increase in three years. The Consumer Finance Index also climbed 8.7% since March, as more consumers sought legal assistance for debt-related issues such as defaults and loan modifications. Article content Americans in Debt Article content LegalShield's CSLI report comes ahead of the Federal Reserve Bank of New York's scheduled release of second quarter household debt numbers in early August. Household debt has steadily increased since 2013 following a period of decline after the 2008 recession. Household debt balances stood at a record $18.20 trillion in Q1 2025, a 0.9% rise from the end of 2024. In particular, mortgage balances grew by $199 billion and home equity lines of credit (HELOC) increased by $6 billion. More concerning is that overall debt delinquencies increased to 4.3% at the end of Q1, the highest level since 2020, including rising delinquencies for mortgages and HELOCs, as well as student loans that began reporting to credit agencies in Q1 following a nearly five-year pause due to the pandemic. Article content 'LegalShield data tends to move ahead of official reports, and right now, it's signaling deeper trouble,' said Layton. 'In the coming weeks, we expect the next debt and foreclosure reports to reflect what calls to our provider lawyers are seeing — more households slipping into unsustainable financial territory.' Article content Consumers Take Action Article content LegalShield data tracks actions taken by consumers with more than 150,000 calls to provider lawyers each month. The LegalShield dataset is built on hard data based on American households' real-time legal needs that reflect financial pressures and opportunities. This stands in contrast with polling based on opinion and sentiment. The latest rise in consumer stress reveals sharp increases in foreclosure and consumer finance inquiries, and those findings suggest that more Americans are struggling with debt, housing costs, and financial obligations, even as overall spending remains strong; the latest Personal Consumption Expenditures (PCE) data shows consumer spending is up 6.9% year over year in May. Article content Key Research Findings: Article content The CSLI has increased four straight months, signaling intensifying economic stress for consumers despite a resilient stock market and stable employment figures. Article content Foreclosure Spike Signals Growing Housing Strain Article content +13.3% quarter-over-quarter | +28.9% year-over-year Article content Rising insurance premiums, property tax reassessments, and adjustable-rate mortgage resets are pressuring homeowners. LegalShield's Foreclosure Index closely tracks foreclosure filings nationally. Article content Rising Debt Fuels Surge in Consumer Finance Legal Issues Article content +8.7% quarter-over-quarter | +4.6% year-over-year Article content Consumers are increasingly seeking legal assistance for a wide range of financial issues with a steep rise in the index in the second quarter. Analysis of the data indicates households are feeling the effects of delinquent debt, sustained interest rates and persistent inflation on everyday essentials. Article content Bankruptcy Dips in Q2 But Remains Elevated YoY Article content Bankruptcy inquiries eased in the short term but remain significantly elevated compared to last year. The dip may reflect temporary stabilization due to seasonal factors, but high debt levels and consumer delinquencies still loom. Article content Study Methodology Article content LegalShield tracks an average of 150,000 monthly calls to provider lawyers based on more than 90 areas of law. That data comprises more than 35 million consumer requests for legal services dating to 2002. The CSLI is the flagship index reporting consumer stress, based on three subindices: Bankruptcy, Consumer Finance, and Foreclosure. Article content As part of LegalShield's mission to ensure every person has equal access to justice, the company mines its data for insights policymakers can use to make a real, positive impact in their decision making. The LegalShield Consumer Stress Legal Index comprises three subindices that reflect the demand for various legal services. LegalShield's dataset includes more than 35 million consumer requests for legal assistance since 2002, averaging approximately 150,000 calls received monthly. The CSLI uncovers the daily challenges people are facing and provides actionable intelligence to help policymakers and industry leaders bridge those gaps. Released quarterly, view past reports on the CSLI page on Article content About LegalShield: Article content For more than 50 years, LegalShield has provided everyday Americans with easy and affordable access to legal advice, counsel, protection, and representation. Serving millions, LegalShield is one of the world's largest platforms for legal, identity, and reputation management services protecting individuals and businesses across North America. Founded in 1972, LegalShield, and its privacy management product, IDShield, has provided individuals, families, businesses, and employers with tools and services needed to affordably live a just and secure life. Through technology and innovation, LegalShield is disrupting the traditional legal system and transforming how and where people receive legal guidance and services, with access to hundreds of qualified, trusted attorneys and law firms. LegalShield and IDShield are products of Pre-Paid Legal Services, Inc. To learn more about LegalShield and IDShield, visit and Article content Article content Article content Article content Article content
New York Times
25-02-2025
- New York Times
Woman Will Plead Guilty in Scheme to Defraud Presleys and Sell Graceland
A Missouri woman agreed to plead guilty to mail fraud on Tuesday for her role in orchestrating what the authorities described as a scheme to defraud Elvis Presley's heirs by claiming ownership of Graceland, his Memphis home, and threatening to sell it in a foreclosure auction. The woman, Lisa Jeanine Findley, of Kimberling City, Mo., will have a count of aggravated identity theft dismissed as part of the plea agreement, which was filed in United States District Court for the Western District of Tennessee. The mail fraud count carries a maximum sentence of 20 years in prison, but prosecutors said they would recommend a sentence of less than five years. A spokeswoman for the Justice Department did not immediately respond to a request for comment. A public defender listed in court documents for Ms. Findley also did not respond. The case involving Ms. Findley burst into the public eye in May, when lawyers for the actress Riley Keough, the granddaughter of Mr. Presley, went to court to stop what they said was a monthslong, fraudulent scheme to sell Graceland, which is now a lucrative tourist attraction that draws 600,000 visitors a year. Court papers revealed that the attempt had been made by a company known as Naussany Investments & Private Lending LLC, but exactly who was behind that company remained a mystery for many months. Naussany Investments had claimed in court papers that Mr. Presley's daughter, Lisa Marie Presley, who died in 2023, had borrowed $3.8 million from the company and put Graceland up as collateral. The company subsequently scheduled a sale of Graceland. But a Tennessee judge blocked the sale and the state's attorney general said his office would look into the situation after no one showed up in court to represent the company. Eventually, federal officials came forward and claimed that the whole situation had been part of an elaborate fraud. In an affidavit filed in August in support of an arrest warrant, Christopher Townsend, an F.B.I. agent, wrote that Findley used 'a series of aliases, email addresses and fake documents' to engage 'in a scheme to defraud Elvis Presley's family for millions of dollars by threatening to foreclose on the 'Graceland' estate.' Mr. Townsend said in the 30-page affidavit that Ms. Findley had created fraudulent loan documents and unlawfully used Ms. Presley's name and signature as part of her scheme. The affidavit also said that Ms. Findley published a fraudulent 'Notice of Foreclosure Sale' in The Commercial Appeal, a Memphis newspaper, executed false affidavits that were sent to the Shelby County Register's Office, and communicated with the news media through fake identities.
