A bankruptcy judge has fined Bank of America for continuing to pursue collection efforts against a couple who used bankruptcy to discharge their mortgages.
Many bankruptcy sites and forums emphasize the importance of the automatic stay in bankruptcy, especially when it comes to foreclosures. These sites might suggest to you that filing bankruptcy is the best way to stop the foreclosure process. But, is it always best to handle a foreclosure through the bankruptcy process? Continue reading
Bankruptcy is complicated enough. Add a mortgage loan contract to the bankruptcy mix, and a lot of misunderstanding can and has happened to many bankruptcy filers. Continue reading
A bankruptcy forum blogger recently wrote: “My wife is a real estate agent, and we track shadow inventory. It is scary to watch, because it is growing, quietly in the background, and it is not going away. The growing numbers, as the banks try to stabilize the sales figures, points to ongoing problems for years or decades in the future.” Continue reading
AMC’s The Walking Dead is a rendition of a comic-book that has become a popular mini-series TV program. The story chronicles the lives of the survivors of an infected populace which has contacted a virus turning them into a zombie when they die. These twisted and demented zombies are scattered throughout the United States, roaming at will through a decimated countryside devouring any unsuspecting native they can get their teeth into. Continue reading
Since the 2007 recession, more than three million homeowners have lost their homes to the foreclosure process. According to CoreLogic, there are almost 11 million homes still underwater. RealtyTrac reports there are 3.5 million homeowners behind on their payments and 1.5 million homes still in the foreclosure process. Nevertheless, the foreclosure process is dramatically slowing down. What may be causing the decline in the foreclosure process?
Purchasing another home after filing bankruptcy can be a tedious affair, but there is life after bankruptcy. Here are some problems that may arise before you are able to buy a home after filing for bankruptcy protection: Continue reading
The five largest mortgage banks in the United States struck a $25 billion deal to settle the robo-signing controversy last year, and as part of that settlement, the mortgage banks were to help over one million homeowners struggling to make their home mortgage payments. Just nine months later, the latest report states that there has only been 50,000 homeowners to receive any kind of principal reduction in their first mortgage, and 169,000 homeowners have been offered some type of shot sale. Many are now accusing the mortgage banks of playing games over the settlement. Continue reading
What do foreclosures, bankruptcy, and land contracts have in common? The only way some people will get a home after having filed for bankruptcy and surrendered their home is through a land contract. There are some mortgage banks playing a mean game in the foreclosure process these days. Continue reading
Although foreclosure rates are slowing down, there still exists a glut of foreclosures to process throughout the United States. Being well informed, or sophisticated, is the proper way to face a foreclosure. Here are some unsophisticated and sophisticated ways of facing a foreclosure: Continue reading