Latest on the Bankruptcy Blog

Foreclosures across the nation have dropped by a whopping 29 percent as compared to this time last year.  Many people are taking this as a sign that the economy is improving and the housing market is experiencing a renaissance.  This is not necessarily the truth, experts say.  In reality, what might be causing the slowdown  … Read more

It may come as a surprise to many that an entire city, or county, could file for bankruptcy. In fact, there have been many municipalities, big and small, that have sought debt relief through Chapter 9 bankruptcy protection.  Although they aren’t commonly publicized,  Chapter 9 bankruptcies involve  a reorganization of debts for cities experiencing financial  … Read more

Should you rent an apartment/house or purchase your own home? The conventional wisdom is a resounding “BUY!” The theory goes that renting simply makes the landlord more money while the renter gets nothing out of it. This is only half true. Of course the landlord makes money, that’s why landlords do what they do. The  … Read more

The government isn’t the only ones experiencing problems with balancing their budget. More of us are becoming overburdened by debt with each passing month, and many are experiencing financial setbacks that could take years for a recovery. The increasing debt load among college students and young professionals is a growing trend and many are learning  … Read more

Recent studies in California show that mortgage modifications are hard to get for most, even homeowners who stand to benefit from the Obama Administration’s Home Affordable Mortgage Program, popularly known as HAMP.  According to the report, of 568,630 borrowers who have requested mortgage loan modifications, 46 percent were denied immediately, 23 percent received a permanent  … Read more

Texas bankruptcy attorneys have been quite busy over the last few years helping people save their homes from foreclosure. The economy hasn’t been kind to the housing market, and even the most affluent of neighborhoods have been riddled with foreclosure signs. Texas residents have been fighting diligently to maintain their homes and get caught up  … Read more

Do you owe the IRS money? Are you wondering about how to settle a tax debt? For those who are not in the know, an IRS Offer in Comprise is a way that taxpayers who are behind on their tax payouts to the IRS can try to settle the debt without spending so much money.   … Read more

Many people have struggled with overwhelming debt since the crashing of the economy.  More people than not seem to be struggling with credit card debt in particular, mostly because it’s very easy to fall into debt with credit cards and getting out is never as simple as getting in.  Traditionally, one of the first things  … Read more

American homeowners aren’t the only ones struggling to keep their mortage payments current. The housing market slump has expanded to other parts of the globe and the pressure to keep mortgage loans out of default is spreading. However, homeowners in Ireland may soon get some much needed relief as banks discuss loan modifications to help  … Read more

Barbara Boxer, a democrat from California, has teamed up with Johnny Isakson of Georgia to introduce a bill to Congress that would require Fannie Mae and Freddie Mac to allow homeowners whose homes are now worth less than their original mortgage, a refinancing option. What Will This Mean? While it might sound somewhat unbelievable this  … Read more