Latest on the Bankruptcy Blog

Luxury homeowners aren’t exempt from the debt, financial struggles, and mortgage pains that can plague ordinary homeowners. On July 1, 2013, Peter Loftin filed for Chapter 11 bankruptcy through Casa Casuarina LLC, the company that owns the famed South Beach mansion. In an attempt to prevent foreclosure, Loftin filed for Chapter 11 with the help  … Read more

The Home Affordable Modification Program (HAMP) is a relatively new program that was introduced by the Obama administration. As one of the many tools created to help homeowners avoid foreclosure, HAMP has very specific requirements. By understanding how HAMP works, homeowners will be able to take advantage of all the benefits this program provides. What  … Read more

Did you know that thousands of people begin the process of filing for bankruptcy every day? Unfortunately, because of the negative social stigma that’s associated with filing for bankruptcy, many Americans don’t consider the process, even if it’s in their financial best interest. The truth is that bankruptcy is a powerful tool to help debtors  … Read more

Whether you’re applying for a new loan or credit card, it’s vital to do whatever you can to increase your chances of achieving new credit. Furthermore, you also want to ensure that your current profile is strong so that you are offered favorable interest rates. Simple mistakes will not only spoil your chances of getting  … Read more

If you filed for a Chapter 13 bankruptcy, this was likely the ideal option for you because of your ability to reorganize debts and get current on your payments. Unfortunately, sometimes things don’t work out as planned, and it’s possible to fall behind on Chapter 13 plan payments just as you fell behind on bills.  … Read more

When you’re filing for bankruptcy, it’s important to understand the timeline of how the process works. Since filing for bankruptcy provides you with a fresh financial start, it’s vital that you are aware of how long the process takes before you see the benefits. Of course, working with a Fort Worth bankruptcy attorney will ensure  … Read more

Homeowners with mortgages that are backed by Fannie Mae and Freddie Mac may soon be receiving help on their mortgage payments. For those borrowers who are 90 days behind, a new effort called the Streamlined Modification Initiative will help those homeowners lower their mortgage payments. The Streamlined Modification Initiative is one of the largest foreclosure  … Read more

Historic. Unprecedented. Ginormous. Jefferson County in Alabama has just filed a 101-page plan in an attempt to cut the county’s $4.2 billion debt by over $1.2 billion, thereby exiting the largest municipal bankruptcy in American history. While Detroit has made headlines in recent weeks because of the city’s mounting debt, the city’s situation is minute  … Read more

This week in bankruptcy news: The technology age has pushed another industry into financial insolvency. Suffering a continued drop in demand for printed textbooks, publishing mogul Cengage Learning Inc. filed for Chapter 11 bankruptcy this week. Also this week, updates in the Casey Anthony bankruptcy case report that a judge dismissed a key creditors claim;  … Read more

Despite recent headlines hailing the economic recovery, many homeowners are still feeling a financial pinch. In fact, it’s still not uncommon for a homeowner to find that his or her home is underwater. If you’re struggling with an underwater mortgage and are debating between a short sale or foreclosure, it’s important to understand the benefits  … Read more