Category Archives: Homes

Experts Caution Real Estate Recovery May Not Have Strength to Last

Home prices are rising, foreclosures are falling and consumers are snatching up properties: It looks like the housing market is on the mend. But all is not as it seems, say bankruptcy attorneys. Recently, real estate experts have been speculating that the real estate recovery won’t last. According to CNN Money, there are three main… Read More »

Large Debts and Bad Credit Preventing More Americans from Buying Homes

Home prices are low, mortgage rates have hit rock bottom – and yet owning a home is more out of reach than ever for a growing number of Americans. Why? Chalk it up to all that debt we carry. Last year, the average credit card debt for a U.S. household was $7,194. However, if you… Read More »

Lenders Suspend Foreclosures for Holidays, But Bankruptcy Offers Lasting Solution

Perhaps the only thing worse than facing foreclosure is facing foreclosure over the holidays. In an effort to relieve stress for troubled borrowers, mortgage giants Fannie Mae and Freddie Mac have agreed to refrain from repossessing homes from the third week in December through Jan. 3, according to CNN. Bank of America will also postpone… Read More »

Home Sales Increase, But Many Potential Homeowners Still Can’t Qualify for Mortgages

With sales of new homes in September jumping to the highest level in years, one might assume the real estate market is finally recovering. But while the increase is certainly a good sign, it doesn’t tell the whole story, say bankruptcy attorneys. According to the Commerce Department, sales of new homes climbed 5.7 percent last… Read More »

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 »