Category Archives: Foreclosure Prevention
Most Underwater Homeowners Not Delinquent; For Those Who Are, Tennessee Bankruptcy Can Help
Nearly one-third of U.S. homeowners – or about 16 million mortgage holders – currently owe more on their home than it’s worth, according to MSNBC.com. But while being underwater on a mortgage is often associated with foreclosure, the majority of these borrowers have managed to stay current on home payments. On average, only 10 percent… Read More »
While More Underwater Homeowners Are Making Payments, Delinquent Borrowers Can Still Benefit from Chicago Bankruptcy
The statistics are startling: 16 million U.S. homeowners – or one of three people with a mortgage – owe more on their home loan than their house is worth. In Chicago, those numbers are even higher. Just over 41 percent of owner-occupied homes with a mortgage have negative equity, according to MSNBC.com. Yet despite the… Read More »
Home Equity Loss Not the Real Cause of Homeowner Debt in Atlanta
Despite a rise in existing home sales earlier this year, the media reports that home values are still dropping – and that the decline may only get worse as banks began releasing a new round of foreclosures onto the market. As usual, the negative news has sent homeowners into a panic over the thought of… Read More »
Too Much Borrowing, Not Loss of Home Equity, Is Root Cause of Debt in Chicago
The real estate market is seeing some promising signs of recovery – for instance, sales of existing homes are up slightly – yet prices are still falling. As banks release formerly-held foreclosures onto the market, home values are only expected to drop further. But while many homeowners are panicking at the prospect of being underwater… Read More »
Debt, Not Declining Home Values, Leads to Mortgage Struggles and Foreclosures in Tennessee
As banks prepare to release a new flood of foreclosures onto the market this summer, already-falling home values will likely get even lower. But while many homeowners are dismayed by the notion of losing more equity – especially if they’re part of the estimated 11 million borrowers already underwater – Tennessee bankruptcy lawyers warn against… Read More »