Latest on the Bankruptcy Blog

Although the Federal Trade Commission has also been more vigilant in announcing and investigation foreclosure and loan modification scams, the surely can’t cover all the new forms of fraud that are occurring. In an effort to better protect consumers, the Better Business Bureau has developed a list of common mortgage debt relief scams that have  … Read more

A recent announcement by the Obama administration say’s that there could be help for foreclosures just around the corner. Well, maybe. The plan is for Freddie and Fannie to join a government pilot program that may help to minimize the damaging effects of foreclosures. Trying Something New A new pilot program is in the works  … Read more

Our nation’s healthcare system has faced  many challenges in recent years. Affordable healthcare and options for those without coverage are hard to come by these days, sending many families into severe debt over the costs of medical treatment. It is estimated that medical debt is the main contributing factor in nearly 60 percent of bankruptcy  … Read more

Struggling homeowners nationwide will now have the chance to attend a free mortgage loan modification event held by one of the largest lenders in the United States. While many state governments and regional lenders have participated in similar events late last year, this is the first major event to be held by a lender.    … Read more

One of the most sought after benefits of bankruptcy is protection from creditors. When a debtor files for bankruptcy an automatic stay ordered is issued, which legally prohibits creditors from making contact or collection attempts with the debtor. However, not all creditors abide by this legal order. What Happens Then? If a creditor violates an  … Read more

Just three short years after exiting bankruptcy, Hostess Brands Inc. files for Chapter 11 bankruptcy, again. The maker of treats such as Twinkies and Wonder Bread, Hostess found itself in bankruptcy protection between 2004 and 2009. Having emerged relatively organized, the snack maker is once again in deep water. Troubling Times For Sweet Treats The  … Read more

Short sales are gaining popularity among both delinquent homeowners and lenders as an alternative to foreclosure. While not everyone is happy to participate in the process, most have come to the realization that losing a home to short sale is minimally damaging compared to a short sale. However, most homeowners shy away from the process  … Read more

Although Freddie Mac and Fannie Mae have been at the forefront of negative mortgage lending news in recent months, efforts are being made to turn over a new leaf. Freddie announced an extension of their forbearance agreement program, aimed at helping jobless homeowners avoid foreclosure. A Short Break Good news is on the way for  … Read more

Financial experts and credit counselors are trying to spread the word to consumers about the benefits of taking a credit counseling course.  In fact, research shows that attending a single financial course can greatly improve the success or failure of a debt management plan. The problem is that most people simply do not know about  … Read more

Dealing with mortgage debt is not easy for anyone. In most cases, you may feel like time is running out and you have few options. The Federal Trade Commission has been working to better educate and protect consumers when it comes to foreclosure prevention. It is important that you know your rights as a homeowner,  … Read more