Category Archives: Chapter 13
Don’t Follow the Crowd When It Comes to Your Finances
When I was a kid, I based a lot of decisions on what my friends thought was cool. If they were on the softball team, I wanted to be on the softball team. If they were dying their hair pink and wearing pleather pants, I became an unfortunate victim of fashion right alongside them. My… Read More »
Bankruptcy Can Protect the Unemployed From Foreclosure, Advise Chicago Attorneys
The foreclosure saga continues. This week, the Washington Post reported that unemployment has officially overtaken subprime mortgages as the leading cause of foreclosure. An estimated 1.8 million homeowners could lose their house to the bank this year, compared to last year’s 1.4 million. Folks without jobs have an extra hard time qualifying for loan modification… Read More »
Atlanta Attorneys Say Unemployment Doesn’t Have to Equal Foreclosure
When an acquaintance of mine lost her job, her first priority was to continue feeding her kids. Her second priority? To find another job – so she could continue feeding her kids. Needless to say, she spent most of her time searching for work and none too much time worrying about the mortgage. The good… Read More »
Chicago Bankruptcy Lawyers Explain There’s No Such Thing as a Free Foreclosure
On Tuesday, the federal government made a deal with mortgage company execs to perform 500,000 loan modifications by Nov. 1 – a significant scale back from than the 3-4 million first expected to be helped by the Making Home Affordable program. While Uncle Sam struggles to revive its ailing loan modification incentive program, some homeowners… Read More »
Chicago Bankruptcy Lawyers Explain Why Chapter 13 Can Be More Effective Than Loan Modification
Now that the government is offering a financial incentive for lenders to perform loan modifications, you should be less likely to face foreclosure, right? Don’t hold your breath. Turns out that the $75 billion Making Home Affordable program forgot one important thing – banks are in it for the money. And in this case, the… Read More »