What is a short sale? It’s when a house is sold at fair market value even if the amount owed on the mortgage for the property is a higher amount. When a borrower agrees to sell a house as a short sale, he or she will often be relieved of having to pay the leftover […]
Are There Any Alternatives to Bankruptcy?
Most Americans carry some type of debt, whether it’s school loans, credit cards, a mortgage, or other loans. Sometimes, these debts take over, and it becomes impossible to figure out a way to pay everything owed every month. In dire circumstances, the only option might be filing for bankruptcy, where the court takes over and […]
What is the Fair Debt Collection Practices Act?
Often abbreviated as FDCPA, the Fair Debt Collection Practices Act is a law that guides the behavior of third-party debt collectors who attempt to collect money for their clients. The FDCPA rules of debt collection apply to debts like medical bills and auto loans, but they don’t affect business debts. What Does the FDCPA Say […]
What’s the Difference Between Chapter 7 and Chapter 13 Bankruptcy?
Bankruptcy is a long and complicated process where the court and its officers will delve deep into your assets and debts and examine virtually every part of your financial life. However, every bankruptcy case is different, and there are even different programs available that will treat your possessions differently as far as what might be […]
What Happens When You Can’t Pay Taxes?
Many people never have to worry about paying taxes, but sometimes April 15th brings a terrible surprise when you learn you owe a large sum to the IRS. If you didn't pay taxes, you might feel helpless that the government is going to take your every possession and leave you on the street with nothing […]
What are the Best Bankruptcy Attorneys Across the Nation Saying About Bankruptcy?
Most of the best bankruptcy attorneys have blogs which contain a wealth of information that folks with debt issues should be paying attention to more than ever. We’ve gathered together a few of these articles to get you up to speed on some important bankruptcy-related topics. Enjoy! Articles from Some of the Best Bankruptcy Attorneys […]
Effects of Financial Crisis: Reverse Mortgage Changes Pose Retirement Issues for the Elderly
For years the elderly have had the option of a reverse mortgage available to them in the event of a financial crisis. However the national effects of financial crisis will now include tighter guidelines surrounding reverse mortgages. What is a Reverse Mortgage? A reverse mortgage is a home loan that allows the elderly to borrow […]
What Is Loss Mitigation?
Asking your attorney, “What is loss mitigation?” could help you save your home if you are facing bankruptcy. Loss mitigation is when a third party helps a homeowner by working to negotiate mortgage terms for the homeowner that will prevent foreclosure. Loss mitigation can certainly help you avoid foreclosure and the ramifications that come with […]
How To Keep Your Home: 5 Tips For Struggling Homeowners
Knowing how to keep your home can help you stave off a foreclosure in a time of financial crisis. There are many resources out there that can lead you on a path to recovery. Even if you have received a notice of foreclosure in the mail, this does not mean that you are guaranteed to […]
