All Posts Tagged With: "bankruptcy"
This Mortgage Lender Is A Fake (Don’t Just Take Our Word For It)
You can’t help but wonder about the good folks at Esteemed Lending Services. They seem so sure, so certain, so familiar….
If you want a mortgage, Esteemed has one for you. Recent bankruptcy? No problem? A foreclosure last month? So what. Less income? They can work with you.
And help with short sales? Who could possibly do [...]
How Can I Get Foreclosure Refinancing?
In general terms there are two forms of foreclosure refinancing, money for those facing foreclosure and financing for those who have purchased foreclosed property and want a new loan with better terms.
Facing Foreclosure
In the first case we have an owner who may lose his or her home, perhaps someone with a toxic loan or [...]
How Foreclosures, Bankruptcies & Healthcare Are Tied Together
Last week we wrote about bankruptcies and the reality that 2009 was a banner year for financial failure — 1.5 million bankruptcies, up 32 percent from 2008.
Interestingly enough, as provisions of the newly-minted Patient Protection and Affordable Care Act go into effect we are likely to see both fewer bankruptcies and fewer foreclosures. Why? Because [...]
Bankruptcies Rise 32% in 2009, 1.5 Million Went To Court
Almost 1.5 million bankruptcies were recorded in 2009, a number up 32 percent from 2008 — and a number that was not supposed to happen.
Huh? How come there were not supposed to be so many bankruptcies.
Well, to put this as nicely as possible, the so-called Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 was [...]
What’s A “Deed In Lieu” Of Foreclosure?
There were more than 3.5 million foreclosure notices sent out last year, a total which does not include homes lost with something called a deed in lieu of foreclosure.
What is a “deed in lieu” of foreclosure and is it good or bad?
Good & Bad
In basic terms, a deed in lieu of foreclosure works like this: [...]
Can A Condo or Co-op Go Bankrupt?
Can a condo or co-op go bankrupt or be foreclosed? The answer is you bet — but the good news is that such financial disasters are rare.
In general terms a condominium is a property where there are units with individual title and financing as well as common areas which are owned by the condo association. [...]
What If Mortgage Walk-Aways Become Socially Acceptable?
There’s a certain glue that holds societies together and in the U.S. one of those unwritten standards is the idea that you don’t walk away from your home.
Such community standards actually have a financial value. If walking away from a mortgage becomes socially acceptable then lenders will have more risk, interest rates will rise, monthly [...]
22Nov2009 | Peter G. Miller | 1 comment | Continued
Is A Commercial Foreclosure Crisis Next?
Go to any major metro area and you can always find a slew of downtown high-rise apartment buildings, office parks, shopping malls, and warehouses. Just like single-family homes and condos, these commercial properties are “real estate” too — and often real estate with a mortgage.
Writing in the Dallas Morning News, Steve Brown notes that “commercial [...]
Bankruptcy Numbers Soar — Foreclosures To Follow
Bankruptcy filings were up 33.3 percent during the past year according to the Administrative Office of the U.S. Courts. Between March 2008 and March 2009 there were 1.2 million bankruptcies compared with 902,000 during the prior year. Of this year’s bankruptcy filings only 49,000 involved businesses, the rest were all personal bankruptcies.
The rising bankruptcy numbers are remarkable [...]
9Jun2009 | Peter G. Miller | 0 comments | Continued
Homeowners Lose as Bankruptcy Reform Fails In Senate
Efforts in Congress which would allow bankruptcy judges to change the terms of residential mortgages came to a halt yesterday by a vote of a 51-45. Of the 51 votes against the measure, S. 899 The Helping Families Save Their Homes Act of 2009, 12 were from Democrats, 39 from Republicans. Not one Republican voted [...]
1May2009 | Peter G. Miller | 0 comments | Continued
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