Category Archives: Foreclosure Prevention
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 »
Illinois Bankruptcy Lawyers Remind Homeowners to Get Help Before Mortgage Payments Get Too Expensive
Here’s a riddle for you – what do homeowners and a certain large African bird have in common? Answer: They’re both known to bury their head in the sand when scared. Unfortunately, instinctive behavior isn’t always logical – and the bulk of an in-denial homeowner’s problems, like the bulk of an ostrich’s body, will still… Read More »
Chicago Bankruptcy Attorneys Recommend Taking Action to Stop Debt
The recent economic news seems to be straight out of a movie – the good, the bad and the ugly. This morning, for instance, I read about soaring stocks, falling jobless claims and the Fed’s prediction that the economy could start to recover by the end of the year. Ah, things must be getting better,… Read More »
Celebrate Independence Day by Freeing Yourself from Debt, Suggest Illinois Bankruptcy Lawyers
Six years ago, I was in debt. Today, I’m not. And the difference means the world to me. That’s why, on Independence Day, I celebrate not just my country’s freedom but my own personal freedom. Of course, when I had the debt, it seemed normal. It was normal for me to use a credit card… Read More »
Illinois Bankruptcy Lawyers Compare Benefits of Chapter 13 to Loan Modification
Loan modification is a good idea in theory. You can’t afford your mortgage, so a modification company convinces the bank to rewrite your loan, lowering your monthly payment to a more reasonable level. You can afford to keep your house while the bank avoids having to go through the costly foreclosure process – and under… Read More »