Category archive for ‘Foreclosure’ 
Are you leaving thousands of dollars on the table? Why you need to know about lien stripping in Chapter 13
by Tara Gaschler on 8/17/10 | 0 Comment(s)
What if I told you you could get rid of your 2nd mortgage? That’s right – never make another payment and have the lien on your house completely removed! You would probably think that is too good to be true – right? Wrong! It is possible to do exactly what I have outlined above utilizing [...]
If I walk away from my underwater house, can I be sued for the deficiency?
by Stephen Trezza on 7/20/10 | 0 Comment(s)
With the current housing market in shambles, more and more people find themselves on the verge of foreclosure. Many people find themselves in a situation where the property value is lower than it was when the property was first purchased. This is what is referred to as an underwater mortgage, meaning that there is negative [...]
More on the Brink of Homelessness in Kentucky, Study Finds
by John Rogers on 7/12/10 | 0 Comment(s)
The Bluegrass Politics blog has a recent post on the increasing trend in Kentucky of folks losing their homes. This has primarily been a problem in other areas of the country, but as the economy worsens, is hitting closer to home. This is a very disturbing trend, that I do not see slowing down soon. [...]
I’ve heard that a repo agent can’t “breach the peace” during a repossession. What does that mean?
by Stephen Trezza on 6/29/10 | 0 Comment(s)
If you have defaulted on a payment of a vehicle, the original seller may repossess the car that you have not finished paying for. The vehicle is what’s known as “collateral” and the people you owe money to have the legal right to either have a court action against you or repossess the “collateral” by [...]
Foreclosure: The Best Thing That Ever Happened To You?
by Moderator on 6/05/10 | 0 Comment(s)
Well maybe not the best thing that has ever happened to you, but a recent article in the New York Times got me to thinking: can foreclosure be a blessing in disguise? The Times article tells the story of a family in Florida who is taking full advantage of the backlog of foreclosures currently swamping Florida courthouses. [...]
How Long Will Bankruptcy “Freeze” Foreclosure?
by Moderator on 5/21/10 | 0 Comment(s)
As with most legal questions, the answer is fact specific. The instant a bankruptcy case is filed, your creditors are prohibited by law from contacting you, attempting to collect a debt and yes, they are also prohibited from foreclosing on your home. Even if your home is scheduled to be sold at foreclosure tomorrow and [...]
What Is The Difference Between Surrendering A Home And Foreclosure?
by Moderator on 5/06/10 | 1 Comment(s)
What is the difference between surrendering a home and losing a home to foreclosure? Many consumers are confused by the interplay between surrendering a home in bankruptcy and foreclosure. When you file bankruptcy and surrender a home, you give the property back to the lender. When a lender forecloses on your home due to non-payment, they [...]
I Bought Investment Property That Has Plummeted In Value, Should I File Bankruptcy?
by Moderator on 5/05/10 | 0 Comment(s)
We’ve devoted alot of attention on the National Bankruptcy Forum to homeowners who find themselves owing more than their homes are worth. These people are generally classified as being “underwater.” It is difficult enough when you find yourself underwater on your primary residence. The problem is compounded when an investment property has also plummeted in value. [...]
Mortgage Companies Prepare For Major Wave Of Foreclosures In 2010
by John C. Colwell on 4/15/10 | 0 Comment(s)
While the markets and the general press make positive extrapolations from the small upticks in corporate profits as a sign of economic recovery, the truth remains, it appears, that it’s the housing market that will ultimately drive whether the economic recovery succeeds or fails. It is clear that these times will pass, and that things [...]
