Foreclosure rates in the U.S. have skyrocketed since the housing market crash. Last year, more than 2.5 million homeowners received foreclosure notices, a 2.5 percent increase over the previous year and more than 23 percent increase over foreclosures in 2008. New York has remained one of the states hardest hit, with Queens New York ranking … Continue reading Bankruptcy Better Option Than Foreclosure
Stripping a Second Mortgage in a Chapter 13 Bankruptcy One of current problems in the real estate market is the number of “underwater” mortgages, where the value of the properly has declined below the outstanding value of the mortgage. Banks have been extraordinarily resistant to the concept of loan modifications, where that modification would lower … Continue reading Bankruptcy and Your Mortgage
Q: What kind of situation would make a person a good candidate for bankruptcy? A: The typical client for Chapter 7, the most common form of bankruptcy, would be a person who lost their job, was many months behind on their mortgage payments and was in foreclosure, and had a significant amount of credit card … Continue reading Common Questions
If you or someone you know is facing overbearing financial obligations and have considered declaring bankruptcy, it is important to understand the processes and consequences of bankruptcy and any feasible alternatives in order to make the most informed decision. Declaring bankruptcy, or legally stating one’s inability to pay off debt, can provide a homeowner with … Continue reading The Hidden Costs of Bankruptcy
If you are going to default on third or fourth terms of your mortgage loan, it is time to get mentally prepared for receiving the dreaded notice of home foreclosure from your creditor. Your creditor can start the legal process of repossessing your property after 20 to 30 days after sending you a letter of … Continue reading Bankruptcy And Your Credit Score
Bankruptcy. No one wants to think about it. Unfortunately, more and more people are considering bankruptcy as a way out of their problems. I talked with William D. Schroeder Jr., a bankruptcy attorney in Colmar, to find out exactly what bankruptcy is and what someone should do if they are in financial difficulties. Beverly A. … Continue reading Filing for Bankruptcy
Habib and Zalewski P.C. a Queens New York bankruptcy firm with office location in Nassau County New York, Suffolk County New York, Queens New York, Brooklyn New York, Bronx County New York and Manhattan brings you an informative article on choosing a bankruptcy lawyer. When an individual or a company is suffering from financial related … Continue reading Choosing the Right Bankruptcy Lawyer
Habib and Zalewski P.C. a Queens New York bankruptcy firm with office location in Nassau County New York, Suffolk County New York, Queens New York, Brooklyn New York, Bronx County New York and Manhattan brings you an informative article dealing with the modification of an existing bankruptcy. Can Bankruptcy Plan Payments Be Modified? Chapter 13 … Continue reading Modification of Existing Bankruptcy
Habib and Zalewski P.C. a Queens New York bankruptcy firm with office location in Nassau County New York, Suffolk County New York, Queens New York, Brooklyn New York, Bronx County New York and Manhattan brings you an informative article showing a trend of bankruptcy courts in dealing with student loans. Wisconsin’s bankruptcy courts are divided … Continue reading Student Loans and Bankruptcy
Habib and Zalewski P.C. a Queens New York bankruptcy firm with office location in Nassau County New York, Suffolk County New York, Queens New York, Brooklyn New York, Bronx County New York and Manhattan brings you an informative article on a bankruptcy means test. Since the new bankruptcy laws have come into effect since the … Continue reading New York Bankruptcy Means Test
