Category Archives: Chapter 13
Underwater Mortgages: Should You Walk Away from Your Home or File Chapter 13 Bankruptcy to Stop Foreclosure?
The housing crisis isn’t through yet. Home sales are down, in part due to the millions of young would-be homeowners who are struggling to find employment and pay off overwhelming student loan debts. Even recent falling mortgage rates haven’t been enough to boost the real estate market. But it’s not just young adults who are… Read More »
In these tough economic times, it is not uncommon for people with stable income to be overburdened by debt. If you spend most (if not all) of your paycheck on payments to creditors, if your mortgage lender has threatened to foreclose on your home, or if you have received notice that your wages will be… Read More »
Lenders across the country continue to foreclose on homeowners who fall behind on their mortgage payments. Each month, hundreds of Georgians lose their homes at foreclosure sales. You can file for bankruptcy under Chapter 13 to stop foreclosure. If you qualify, Chapter 13 not only protects your property, but also forces your creditors to halt… Read More »
During the recent housing crisis, hundreds of thousands of people lost their homes through abusive and fraudulent foreclosure practices. In an attempt to compensate victims and put into place fair practices, Georgia ― along with 49 other states and the federal government ― reached an $8.5 billon National Mortgage Settlement with 10 major mortgage lenders…. Read More »
When you’re falling behind on your mortgage payments, the chance to change the terms on your loan via a mortgage modification can sound almost too good to be true. Unfortunately, it often is. Loan modifications have gained notoriety in recent years, as lawmakers have tried to encourage them as a solution for struggling homeowners with… Read More »