When faced with overwhelming debt, many people don’t know where to turn: Should they file for bankruptcy, consolidate their debts into one loan or try to settle with creditors for less than they owe? Each approach can be fraught with difficulties and expense if you don’t know what you’re doing, but inaction is probably the … Continue reading Feds strengthen debt settlement rules
By Ilan Moscovitz Foreclosure fraud is heating up. While bankruptcy judges have chastised Wall Street’s lacksidaisical approach to recordkeeping and fabrication of court documents at least as far back as 1999, the foreclosure wave sweeping America has provided a new venue for lawbreaking. Wall Street has characterized the fraud epidemic as a mere paperwork issue. … Continue reading Blaming “Deadbeat” Homeowners for Foreclosure Fraud
So, you have failed as many advantages and disadvantages of applying for, and now you want to know what your options are. What are the advantages of filing Chapter 7 vs. Chapter 13 bankruptcy and how bankruptcy can help you decide the lawyer in Houston, which type is right for your financial situation? Fortunately, these … Continue reading Bankruptcy Advantages/Disadvantages
How long will it take before the American nightmare of home foreclosures is over? Ask Mike Dillon, who’s been fighting to keep his New Hampshire home for most of the past decade. Though he missed two payments in 2002, Dillon then caught up and was current on his loan by later that year, he said. … Continue reading Foreclosure Debt New York and Beyond
Around the United States, consumers are trying to get back on their feet following the recent economic crisis. As growth is coming around the corner, many Americans are facing mounting debt and continued creditor calls. Sometimes, bankruptcy is the financial new start that will help many consumers get back in the black. Filing bankruptcy … Continue reading Chapter 13 Lawyer Can Do Alot
Why should we care that an employee of GMAC Mortgage admitted to signing 400 foreclosure affidavits a day without reading the loan files to verify that the information in the affidavits was correct? The outrage over the GMAC robo-signer and his counterparts at other mortgage companies caused several large mortgage servicers to halt foreclosures, which … Continue reading Foreclosure: What’s Really Going on?
Will bankruptcy discharge all my debts? • A Chapter 7 bankruptcy will discharge most debts. Exceptions are taxes or student loans. Also, you may choose to keep or reaffirm certain debts in bankruptcy, such as mortgages or car loans, that are secured by the property. • When are my debts discharged in bankruptcy? • The … Continue reading Bankruptcy FAQ
We’ve suggested that a huge wildcard in the on-going foreclosure fiasco is the response of the 50 state attorneys general. One outcome is that they will seek some sort of global settlement based on the idea of forced modifications, essentially “cram downs.” Sheila Bair, for example, has proposed a global solution that would give banks … Continue reading The Foreclosure Fiasco
