Latest on the Bankruptcy Blog

The world of finance, high and low, is a sophisticated place. Understanding its nuances save the amateur financier thousands if not more. Many people choose to refinance their home in order to save money or pay down existing debts. Here are a few things to look out for when you refinance: 1.)   Lenders wary of  … Read more

Credit negotiations are not always successful, in which case you may be forced to seek bankruptcy protection. Once committed to filing for bankruptcy because of severe, crippling debt and hard-nosed creditors you will need to steel yourself for the tough road ahead. Bankruptcy can be a long, anguished process. Failure to do it properly can  … Read more

Currently, Nevada is at the epicenter of the foreclosure crisis. A little over a year ago, the housing market in cities like Las Vegas was flourishing. It seemed as though overnight the housing market imploded and 1 in 4 homes began to enter foreclosure. With such a quick decline in the market, many homeowners have  … Read more

Before 2007, rolling outstanding credit card debt into a mortgage was fairly common. Basically, in order to take advantage a lower interest rate, people with large sums of credit card debt could roll that debt into the terms of a mortgage. For example, you could take out a $305,000 mortgage for a $300,000 mortgage loan  … Read more

Many people that end up seeking financial relief through bankruptcy protection fear that they will be stigmatized after their case is completed. Although a bankruptcy case is a matter of public record, the chances of those around you finding out are slim. You may have heard of a case in which a person filed bankruptcy  … Read more

It isn’t impossible to refinance a home; improbable is more like it. Upside down homes are a scourge to banks and to the national economy. In a regular mortgage modification like a refinance situation, the homeowner is expected to have 20% or more equity in his or her home. IN an underwater mortgage, it is  … Read more

The holiday season is just around the corner. In fact, it is less than 100 days before the biggest days of financial indulgence of the year. As people are busy writing out their gift lists, less than one-fourth of those people will actually have enough money saved to purchase their gifts without adding debt. Just  … Read more

Strategic default is a term coined to describe borrowers who are willfully (or passively?) allowing their mortgages to enter default because their homes are underwater. Why do people strategically default on their mortgages? People strategically default for many reasons, but mostly because they no longer want to throw money out the window. A few borrowers  … Read more

Las Vegas is known for many things, including contributing to Nevada becoming the fastest growing state between 2000 and 2010. When we think of Las Vegas, we think of bright lights, casinos and money. Just a year ago, it was a good place to invest in real estate and flip houses, where buying low and  … Read more

After months of deliberation, a decision has been reached regarding the bankruptcy sale of the NHL team the Dallas Stars. Pending approval from the court and NHL, the agreement states that the team will be sold to Canadian businessman Tom Gaglardi. Gaglardi has been a front runner in auction sale since the beginning and stands  … Read more