Category Archives: Homes
Homeowners Struggling to Close Short Sales in Chicago May Want to Consider Bankruptcy
As the number of underwater mortgages continues to rise, short sales have become a popular way for Chicago homeowners to avoid foreclosure without filing for bankruptcy. Unfortunately, homeowners are finding out that a short sale can quickly go from a saving grace to a nightmare. Quite often, a Chicago bankruptcy would have provided a more… Read More »
With Area Home Prices at New Lows, Atlanta Bankruptcy May Help Potential Homebuyers
Atlanta home prices have fallen to the lowest level in 13 years thanks to a rush of recent foreclosures and short sales, according to the Atlanta Journal-Constitution. The latest housing market data from Standard & Poor’s Case-Shiller Home Price Indices shows that metro Atlanta real estate prices fell for the fourth month in a row… Read More »
Chicago Bankruptcy May Help Potential Borrowers Unable to Qualify for Loans
There’s a common myth that filing for bankruptcy prevents consumers from qualifying for loans and credit in future. In fact, bankruptcy may be more likely to help your chances than to hurt them. Many Americans looking to take advantage of today’s low mortgage rates are learning that, not only can they not qualify for their… Read More »
Chicago Bankruptcy Can Help Homebuyers Considering Walking Away From a Mortgage
Strategic default – in which a homeowner simply walks away from a mortgage – is on the rise. In a Chicago area survey last year, 30 percent of homeowners who defaulted on their home loan were able to afford payments but chose to walk away. Usually borrowers choose to walk because they owe more on… Read More »
Chapter 13 Bankruptcy an Option for Atlanta Residents Considering a Strategic Default
As kids, we’re taught that it’s wrong to walk away from our problems. But as adults, many of us are doing just that by walking away from our mortgages. Years of falling real estate prices have resulted in a large number of underwater homeowners – borrowers who are locked into a loan for more than… Read More »