Category Archives: Foreclosure Prevention
Bankruptcy Stops Foreclosure By Getting to the Root of Mortgage Problems
Imagine having the best interest rate, decent loan terms and an affordable payment – but still losing your home to foreclosure. It might sound nonsensical, but it’s happening to millions of Americans right now. Rates are the lowest they’ve been in years. Uncle Sam has coughed up $75 billion in taxpayer money to encourage banks… 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 »
Illinois Bankruptcy Lawyers See Economic Growth, But Warn Road to Recovery Might Be Long
Something rare happened to me recently – I actually heard some positive economic news. In this day and age, that’s reason for some (cautious) celebration. So here’s the happy newsflash. Proof has finally arrived that the $787 billion economic stimulus package passed in February was (no surprise) worth the money, according to a New York… 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 »