Latest on the Bankruptcy Blog

Drawing attention has always been something Anna Nicole Smith was good at. When she married a much older oil tycoon, the world gasped alleging she was only after his money. In her defense she claimed J. Howard Marshall wanted his money to be left to her, but his family has continued to fight to argue  … Read more

When a neighbor’s house falls into debt and is foreclosed on by the bank, it can do damage to more people than just the owners of that particular property. When a house gets foreclosed on, it can be an absolute nightmare for neighbors. Perhaps the biggest issue is that a property in financial difficulty can  … Read more

We have all heard about friends or neighbors that have paid off their mortgages early. Many of us wonder how that is even possible in an economy like this. Although not as common as in the past, some people have been fortunate enough to dodge the economic bullet devastating  so many others with threats of  … Read more

Changes made to the bankruptcy laws in 2005 made it more difficult for some people to qualify for Chapter 7 bankruptcy. For those that do not qualify for debt elimination, they  can absolve their debts through a Chapter 13 repayment plan. There are some key differences in the two types of personal bankruptcy and knowing  … Read more

Today, every person you speak with, and every news article you read, will suggest that Americans are worried about their finances. In the current economy, as more and more Americans are facing unemployment, the depreciation of home values can be almost too much to bear. Yet, in all this tragedy, there is a silver lining.  … Read more

When you are significantly in debt it can be a devastating experience. Although there are many ways to get yourself out of debt, many people fail to act until it is too late. However, before giving up or needing the help of bankruptcy protection, realize that just following a few simple steps can put you  … Read more

A number of US banks have teamed up to ensure that consumer complaints related to foreclosure processing are addressed. These major banks plan to launch a common website, as well as a toll-free phone number and advertising campaign. This coordinated effort is a response to a demand last spring from U.S. regulators for major banks  … Read more

It is common knowledge that paying extra towards your mortgage could help you pay it off years sooner, saving you thousands in interest payments. Despite economic woes, many people can still afford to pay extra towards their mortgage payment. However, the question should I prioritize paying extra towards my mortgage just because I can afford  … Read more

It doesn’t seem like too long ago people were building great retirement funds and buying second homes on the beach to live out their “Golden Years”. Although the American Dream is still very much alive, making it come true has become out of reach for so many. Between the fate of Social Security becoming darker  … Read more

In a short sale, banks agree to accept less than the value of a mortgage, at a loss of profit. In many states, banks can pursue borrowers for these losses and it is completely legal. This is known as a deficiency judgment. Avoiding a deficiency judgment Don’t sign anything hastily and have a lawyer review  … Read more