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1. MORTGAGE MODIFICATION -It is not easy, and it may not get easier...
by Piet Wright
December 15, 2008
MORTGAGE MODIFICATION It is not easy, and it may not get easier...
...One representative tells you that you don't qualify for a modified loan because you are not behind in your payments. After you eventually fell behind, they tell you that you have to be in your house for a year to qualify for a new loan. After 12 months in your home, they tell you that you don't qualify for a new loan ...more...
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2. Bankruptcy Chapters: You Need To Know
by Jason Newcombe
December 8, 2008
Bankruptcy really does not seem to be a preferable or the most suitable option. However while you are on the track that cannot help you to lead on or switch on to the other alternatives or when you are in the state where you have possessed yourself with overwhelming debts, all you require or the way that may help you is going for a personal bankruptcy.
It probably, may help you to once aga ...more...
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3. Bankruptcy Has Become a Middle Class Phenomenon
by Craig Robins
December 3, 2008
After being a Long Island bankruptcy attorney for over two decades, I can comment that nowadays, those who are most likely to file for bankruptcy are middle-class families of the baby-boomer generation. In other words, the typical Long Island family. We previously considered middle-class families as a stereotypical group noted for their financial stability and for the vitality they provide to the ...more...
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4. Chapter 13 Bankruptcy - Are There Better Options Than Chapter 13...
by Benjamin Ehinger
November 4, 2008
Are you considering filing chapter 13 bankruptcy? Do you know what you will be getting yourself into? There are many options that you choose from instead of chapter 13 bankruptcy. Here is what you can do instead of filing for bankruptcy.
First, you can contact your local priest or pastor to get some help with your debts. They will either have a volunteer in their church that can help ...more...
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5. Chapter 13 Bankruptcy Vs. Chapter 7 Bankruptcy
by Benjamin Ehinger
November 4, 2008
If you simply cannot fulfill your obligations to your creditors, then you have the option to file for either chapter 7 bankruptcy or chapter 13 bankruptcy.
There is a voluntary bankruptcy, which is when you file for bankruptcy yourself, and there is an involuntary bankruptcy that is when your creditors are the ones that initiate the process of filing bankruptcy.
When it comes to ...more...
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6. Chapter 13 Bankruptcy - Knowing the Advantages
by Debra Proctor
October 30, 2008
Financial problems are always upsetting and something you try to avoid at all costs. Coming to the conclusion that you need to file Chapter 13 Bankruptcy is difficult, but there are some advantages. Three of the advantages are saving your home from foreclosure, rescheduling secured debts, and consolidating your payments. This article will further explain these three advantages.
The first ad ...more...
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7. Chapter 13 Bankruptcy - What You Need to Know Before You File
by Debra Proctor
October 30, 2008
Making the decision to file bankruptcy is not easy under any circumstances and can get confusing very quickly. Filing Chapter 13 bankruptcy is a big financial and life changing decision and you need to be well informed before you take any steps in that direction. There are several things you need to know before filing including the basic facts, the advantages, and the eligibility requirements. Thi ...more...
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8. Let Filing for Bankruptcy a Last Resort to Your Credit Problems
by Karen Bell
October 27, 2008
Let Filing for Bankruptcy a Last Resort If crises have happened to you that have caused your personal financial condition to be less than what you would like it to be, you may very well be coping with the frustrations of collections agencies, certified letters, and tiresome phone calls. If you are considering filing bankruptcy to relieve this situation, remember that if you do go this rout ...more...
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9. When Is Chapter 13 Bankruptcy The Right Choice?
by Jon Arnold
August 25, 2008
In today’s society, many people are turning to Chapter 13 bankruptcy as an answer to their financial troubles. Whether your financial troubles are due to careless use of your credit or because you have lost your job and are unable to pay your bills, Chapter 13 bankruptcy can be the answer you are looking for.
It is important that you only turn to bankruptcy after you have carefully gone ...more...
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10. Real Estate Investor Tips for Leads... Part # 3
by Clint Cohen
August 5, 2008
Real Estate Investor Tips for Leads… Part # 3
For the real estate investor that has called all the newspaper ads and is aggressively looking for more new leads. These are two methods that work well, but require more energy. Taking real estate investing to the next level.
The two areas are probate and bankruptcy. You have heard of bankruptcy, but many as they have heard of probate a ...more...
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11. A Guide To The Complexities of Bankruptcy Chapters and Laws
by Jon Arnold
July 14, 2008
Bankruptcy is a legal procedure granted by the Federal Law that allows an individual or organization with excessive debt to pay their creditors in a certain amount of time. The bankruptcy attorney specializes in bankruptcy law which enables them to design a legal plan to assist in resolving this debt. There are several types of bankruptcy proceedings under the Bankruptcy Code. Because bankruptc ...more...
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12. Bankruptcy and Real Estate-Not A Good Mix
by Anita Koppens
June 23, 2008
Bankruptcy is a choice thousands of Americans must come to terms with every year. Catastrophic circumstances like divorce, medical bills or loss of employment can drive individuals to the brink of financial despair. Bankruptcy is an extreme method that some people must undertake because the debt owned is more than the individual can conceivably pay back. Although the courts can offer initial relie ...more...
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13. Chapter Thirteen Bankruptcy--Is it Right For You?
by Jared Myers
May 5, 2008
Chapter 13 bankruptcy is referred to as the Wage Earner's Reorganization. It authorizes the wage earner to use his income to repay his creditors over a specified period of time. To manage this, the court draws up a payment schedule, and the wage earner makes scheduled payments to his creditors over a 3 to five year payment period.
Some courts might not permit a filing of chapter thirteen ...more...
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14. Does a Bankruptcy Really Stop a Foreclosure?
by Dave Dinkel
April 30, 2008
The filing of a Bankruptcy is a serious action to take to stop or more correctly, stall a foreclosure which will have long lasting ramifications. The myth that filing bankruptcy stops a foreclosure must be closely examined to look at the benefits and ramifications of this court action. We will only discuss a Chapter 13 Bankruptcy here as it is the best type for 99% of all personal filings with the ...more...
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15. How to Resolving Conflicting Issues in Foreclosure
by Dave Dinkel
April 30, 2008
The most common issues a homeowner faces in a foreclosure are his getting too much confusing and conflicting information, and his inability to make timely decisions. His indecision is reinforced by information from numerous sources including real estate investors, the lender, realtors, mortgage brokers, and bankruptcy attorneys. All of these individuals have a vested interest in a specific resolut ...more...
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16. Using Chapter 13 Bankruptcy To Stop Foreclosure
by Jon Arnold
March 8, 2008
Only a few years ago, Congress made multiple huge changes to the bankruptcy laws which impacted how bankruptcy would be filed, and even who is eligible. For example, no longer can you file bankruptcy just because you are tired of paying your bills, but with the new laws, there is a defined set of procedures that must be followed for each chapter being filed, and your financial status will be evalu ...more...
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17. Bankruptcy Answers - The Advantages of Chapter 13 Bankruptcy
by Deanna Mascle
January 20, 2008
For times when debt gets out of hand, Chapter 13 bankruptcy is an ideal financial option. Repaying debts is very important to some people. Unfortunately, circumstances sometimes stand in the way of this goal. Although it will be a big blemish on your credit report, Chapter 13 allows you to repay your debts through a court-appointed trustee while requiring the creditors to stop their actions to ...more...
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18. A Chapter 13 Bankruptcy Reorganizes Debt, Stuctures Payments
by Mike Selvon
December 21, 2007
A Chapter 13 bankruptcy is the specific type of legal proceeding that is granted under Federal statues to provide a repayment program for debts that are owed. Under Chapter 13 bankruptcy, a three-year or a five-year repayment plan is created for specific creditors according to the rules governing bankruptcy and through agreement by all parties involved. The arrangements are all overseen by a trust ...more...
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19. The Myth of Bankruptcy and Foreclosure
by Dave Dinkel
November 17, 2007
The myth of bankruptcy and foreclosure is simply that bankruptcy stops foreclosure. Closer examination reveals that this may not be entirely true. Bankruptcy is a serious action to take to stall a foreclosure that will have long lasting ramifications.
Specifically Chapter 13 bankruptcy allows the person filing to work-out a repayment plan that extends over a 36 to 60 month period. The amou ...more...
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20. How Does Foreclosure Impact Your Credit Report?
by Dave Dinkel
November 17, 2007
How does a foreclosure effect your credit report is a perplexing question. This is because Fair-Isaac Company, who started the credit scoring system, will not share this information. What complicates the issue even further is that all the credit information reported is calculated into the individuals' credit score as it occurs. The credit score is updated instantly whenever there is an inquiry, ot ...more...
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21. Three Common Solutions for Foreclosure
by Dave Dinkel
November 17, 2007
Three common solutions for foreclosure are loan reinstatement, a forbearance agreement, or a loan modification. While there are numerous other specific ways to stop foreclosures, these three are used frequently.
Loan reinstatement is where a lender has started the foreclosure process and the homeowner finds a way to "reinstate" or pay back the entire deficiency owed. The deficiency amount ...more...
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22. Does "Subject to" Financing Work with a Foreclosure?
by Dave Dinkel
November 17, 2007
"Subject to" financing is where a homeowner sells his home but leaves the existing financing in place and allows the new owner to continue making the monthly payments. The deed is always transferred at this time to another owner who will be making the payments. Early in the 1980's, lending institutions got legislation passed that stopped loans from being fully assumable by new buyers because the l ...more...
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23. What a Foreclosure Eviction Means
by Dave Dinkel
November 17, 2007
You can expect an eviction if your home is sold because of a foreclosure sale. Whether the sale is by auction, or by a trustee's sale, the eviction is the legal process by which a property owner physically removes a tenant or trespasser.
Evictions for renters are handled by strict contract law standards and the tenant often has more rights than the landlord. In many states, tenants can sue ...more...
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24. Foreclosure and Deficiency Judgments
by Dave Dinkel
November 17, 2007
Foreclosure and deficiency judgments often go hand-in-hand after the loss of a home through foreclosure. The loss of one's home to foreclosure is often times financially devastating and personally humiliating. But the problems may not stop when the foreclosure process is completed at the auction sale or even if the lender accepts a deed in lieu of foreclosure.
The lender has additional exp ...more...
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25. Using a "Deed in Lieu of" to Stop a Foreclosure
by Dave Dinkel
November 17, 2007
Recently lenders have been taking deeds in lieu of foreclosure from homeowners to resolve foreclosures. The lender simply accepts a deed in exchange for forgiving the homeowner of his mortgage or deed of trust loan.
Let's look more closely and see the ramifications of this legal transaction. It usually starts after the homeowner has fallen behind on his loan payments and is considering for ...more...
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