Latest on the Bankruptcy Blog

The housing market has faced turbulent waves over the last few years and many homeowners have been left stranded in mortgage debt. Continued economic pressure has kept a tight hold on many homeowners wallets, leaving some with few options to avoid foreclosure. A new report suggests that one factor has taken the lead role in  … Read more

Nevada has been one of the hardest hit housing markets in the country. With so many homeowners losing their homes to foreclosures, and many more fighting off the possibility, local agencies have decided to take action. Foreclosure Education As a way to help educate consumers and help fight the high rate of home foreclosures in  … Read more

Deciding between which type of bankruptcy to file isn’t always an easy task. Further, once you decide you may find yourself ineligible for one type of bankruptcy. In general, there are a few reasons why some people choose to file for Chapter 13 over Chapter 7 bankruptcy. Mortgage Default If you have fallen behind on  … Read more

Many people facing foreclosure are looking for a way to save their home and get out of mortgage debt. Mortgage loan modifications can provide relief from high monthly payments, but not all modifications are beneficial to everyone. Refinancing a mortgage is a common practice and can provide relief by lowering the interest rate on the  … Read more

When filing for bankruptcy some of the biggest concerns people have is about how much the process will cost them. After already suffering from overwhelming debt burdens, the last thing anyone feels they can afford is a high priced attorney. Although there are some attorneys that may charge high fees, many are in the business  … Read more

Equator, the country’s foremost provider of default servicing technology, reported this week that its third quarter report included over one million short sales initiated through their software platform, since November 2009. The software company also announced that its Loan Segmentation Module has managed over 500,000 loans since its launch earlier this year. A representative of  … Read more

Harrisburg, Pennsylvania has been suffering financially for a while, finding themselves unable to pay vendors for necessary city supplies. Tightened state funding, vendor lawsuits piling up against the city and difficulty managing city funds have all contributed to Harrisburg’s financial woes. As Harrisburg,PA officials prepare for the worst, critics on both sides scoff at the  … Read more

In the current economic climate, an astounding number of Americans are struggling with underwater mortgages, where the borrower owes more on their mortgage than the property is worth. In fact, CoreLogic just released a report demonstrating that, in the United States, 10.9 million residential properties with a mortgage are currently underwater. If you have decided  … Read more

There are numerous decisions that go into filing for bankruptcy and completing the process successfully. It seems odd that someone would enter bankruptcy and not have their debts discharged, but there are cases in which the cases are dismissed instead. The bankruptcy court may order an involuntary dismissal of the debts if the debtor fails  … Read more

Over the past five weeks, mortgage rates have consistently been hitting historic lows. During the week ending October 6, 2011, the average rate for a fixed 30-year mortgage fell to 3.94 percent, while the rate on 15-year loans diminished to a record low of 3.28 percent. It seems like the perfect time to consider refinancing  … Read more