Latest on the Bankruptcy Blog

Considering a short sale? Have more than two mortgages? You may be in for prolonged frustration and heartbreak. Many lenders, especially second mortgage lenders, take out mortgage insurance. In the case a borrower defaults on his or her mortgage, lenders can collect from a mortgage insurance pool. Mortgage insurance is taken out to minimize risk,  … Read more

In the wake of tough economic times, the country, states and cities are all fighting to pay their bills and keep the money flowing into crucial programs. It appears as though there was been an increase in the number of municipalities seeking bankruptcy protection through Chapter 9. In the past, Chapter 9 cases were considered  … Read more

You have some money saved, and you’d like to invest—what do you do? Countless volumes of information and entire TV shows are dedicated to this, instead, there a few basic guidelines to consider before making an investment. Only invest what you can afford to lose: the average American household isn’t overly capitalized. Often, the money  … Read more

The IRS is notoriously careful when it undergoes an investigative process. This band of starched auditors is comprised of accountants and bureaucrats whose sense of humor could survive in a desert. To some degree, this federal agency is laudable because of their efficiency and accountability. In effect, they guarantee America’s tax code is followed to  … Read more

The debt debate has been the hot topic for weeks now, every news channel is combing through the details with an eye of scrutiny. The truth is, many people have no idea what the future holds for the nation’s economy, and many more have no idea that the aftermath could hit close to home in  … Read more

With the federally regulated prime rate steady at 3.25, this week saw a 23.1 percent spike in refinancing index. These mortgage indices are used to measure spikes in consumer refinancing, which is a strong indication of lower mortgage rates at banks across the country. In recent months, consumers have been able to take advantage of  … Read more

From the vantage point of 2011, many mortgages that were good deals in 2003 are not so attractive now. One way that borrowers can change their plight is with loan modifications. A loan modification is essentially changing the terms of the original deal. These come in a variety of ways including: payment term extension, principal  … Read more

While most of us were out running errands, spending time with family and lounging around the house this past weekend, our nation’s congressional leaders were busy hammering out a deal to help resolve the debt crisis. After a long weekend of debate and negotiation, congressional leaders may have finally reached a deal over our nation’s  … Read more