Category Archives: Chapter 13
Struggling Homeowners Brace for Expiration of Foreclosure Tax Break
With the uncertainty of the election over, many Americans are breathing a sigh of relief today. But struggling homeowners now have a new reason to worry. A tax break that prevents homeowners from having to pay income taxes on the forgiven portion of a foreclosure or short sale is set to expire at the end… Read More »
Compared with Bankruptcy, Mortgage Modifications Do Little to Help Housing Crisis
No one would argue with a lower mortgage payment. Unfortunately, loan modifications aren’t the magical solutions they’re cracked up to be, say DebtStoppers bankruptcy lawyers. In recent years, mortgage modifications have become a popular last-ditch effort for homeowners struggling to afford their home loan payments – partly because of President Obama’s Home Affordable Modification Program… Read More »
Despite Recent Drop, Foreclosures Expected to Rise Again Before the Market Improves
For homeowners at risk of foreclosure, watching the real estate market can feel like a roller coaster ride of ups and downs. In July, foreclosure filings fell 3 percent from the previous month and a whole 10 percent from a year ago, according to RealtyTrac data. That’s the good news. The bad news is that… Read More »
Future Foreclosures in Chicago & Other Cities Put Anticipated Housing Recovery at Risk
Many experts are declaring the end of the U.S. housing crisis to be on the horizon. But there may be another storm brewing before the dark clouds can part. As our Chicago bankruptcy attorneys discussed in recent blog posts, foreclosure starts have been on the rise this summer as banks attempt to unload their inventory… Read More »
As Georgia Foreclosure Activity Spikes, Atlanta Bankruptcy Provides Homeowner Relief
Foreclosure filings increased in every U.S. state this May, but Georgia had it particularly bad. Whereas 1 in every 639 homes in the U.S. received a foreclosure filing last month, 1 in every 300 homes in Georgia got one – the highest rate of any state, according to recent data from RealtyTrac. While some regions… Read More »