Category Archives: Foreclosure Prevention
Younger Borrowers Make Up Majority of Underwater Homeowners
This spring’s rising home values helped some homeowners emerge from their underwater mortgages. Unfortunately, they didn’t do much good for younger borrowers. While significantly fewer people now owe more on their mortgages than their homes are worth, a disproportionately large percentage of homeowners who are still underwater are under the age of 40, according to… 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 »
Foreclosures in Illinois, U.S. Increased in May; Chicago Bankruptcy Offers Relief
For every step the housing market takes forward, it seems to take two steps back. Despite previous signs of recovery, foreclosure activity jumped 9 percent in May, according to recent data from RealtyTrac. That means that 1 in every 639 homes in the U.S. received a foreclosure filing last month. In Illinois, roughly 1 in… Read More »