Category Archives: Mortgages
Tennessee Bankruptcy Protects Underwater Homeowners from Expected Flood of Foreclosures
It looks like the days of a homeowner staying in a house for months – or years – after ceasing mortgage payments are coming to a close. Now that a $26 billion settlement with five major mortgage lenders has been approved, banks are ready to get back to the business of repossessing homes, according to… Read More »
Homeowners Hurt by Flood of Foreclosures May Find Relief with Chicago Bankruptcy
With the $26 billion settlement between states and the country’s largest lenders approved, a wave of foreclosures is predicted to wash over the market. As a result, home values will likely continue falling, driving some underwater homeowners to file for Chapter 13 bankruptcy in Chicago. Banks had been holding on to many delinquent properties since… Read More »
Chicago Bankruptcy Proves Valuable for Struggling Homeowners in City’s Fragile Housing Market
Chicago suffers from one of the most fragile housing markets in the U.S, according to a report by the Treasury Department. As much as 35 percent of all sales in the Windy City involve distressed properties, a statistic significantly higher than the national average. To make matters worse, sales of foreclosures are exerting downward pressure… Read More »
Study Shows Banks Discriminate Against Minority Neighborhoods When Maintaining Foreclosed Homes in Atlanta
If you live in a minority neighborhood, it appears that banks may not deem it worth their while to clean up foreclosed properties in the area. A recent study by the National Fair Housing Alliance uncovered what appears to be blatant racial discrimination on the part of big banks. Foreclosed homes in several major U.S…. Read More »
Chicago Bankruptcy Can Assist Illinois Homeowners Who Have Fallen Behind on Mortgage Payments
While fewer homeowners are behind on their mortgage payments, the number in default is still well above average, reports the New York Times. By the end of 2011, one in every eight U.S. homeowners was either in trouble with their mortgage or already in foreclosure. People tend to miss their first payment deadline due to… Read More »