Tag archive for ‘housing crisis’
Dangers of Unperfected Liens
by Richard Stokan on 1/18/10 | 0 Comment(s)
Liens against real property that have not been recorded or were not timely recorded, can be avoided by a Chapter 7 trustee and present a dilemma for a debtor. See 11 USC 544 and 11 USC 547(e)(2)(B). Once a case is filed, the trustee can assert power over the property of the estate. This means, [...]
WSJ: Personal Bankruptcy Filings Skyrocket in States Hit Hardest By Housing Downturn
by Moderator on 1/10/10 | 0 Comment(s)
Sara Murray wrote an interesting article in the Wall Street Journal discussing the high rate of bankruptcy filings in the states hit hardest by the housing crisis. As home values in states like Nevada, Arizona and California continue to plummet, more consumers turn to bankruptcy as a way to escape looming personal guarantees. Below are [...]
Does Filing for Bankruptcy Allow Me to Walk Away From an Underwater Home?
by John O'Connor on 1/10/10 | 2 Comment(s)
In a word, yes. Filing for bankruptcy allows the opportunity to surrender cars and real estate with no continuing obligation. North Carolina hasn’t been as hard hit as other states in the current housing crisis, however, I still meet with clients all the time who owe more than their homes are worth and can’t find [...]
