The Dallas City Council has approved a $1 million loan program that is designed to assist small businesses in southern and western Dallas get capital for growth. The program, which will provide $1 million from the city's public/private partnership fund to the Southern Dallas Development Corporation was approved unanimously with only one dissenting voice. But [...]
When debtors file for bankruptcy without the help of an attorney they often run into troubles such as post-bankruptcy filing bank levies. One of the mistakes that pro se bankruptcy filers make when submitting their bankruptcy paperwork is forgetting to notify all of the parties involved in collecting their debt payments. For example, before filing [...]
In the Chapter 13 bankruptcy case of Brammer, William H. Jr. and Heili K.; In re, the bankruptcy court ruled against a bankruptcy trustee who wanted to have the debtors' case dismissed because their secured debt was above Chapter 13 bankruptcy's debt ceiling. The details of the bankruptcy case: The Chapter 13 debtors disclosed no [...]
Eighty percent of the approximately 360,000 residential properties reappraised this year will show decreases or no change in value, according to the Dallas Central Appraisal District. This is the second year in a row that the majority of homes in Dallas County have either decreased in value or remained stagnate. Last year 55 percent of [...]
The number of foreclosures filed by homeowner associations (HOAs) and home equity lenders has risen dramatically this year. Already 350 Dallas-Fort Worth area homes are facing foreclosure sale in May because the owners owe money to homeowners associations or home equity lenders. "Especially from the homeowners associations, we have seen significant increases in postings," said [...]
This month the Treasury Department will begin paying mortgage servicers $1,500 for approving the sale of homes for less than the balance of the mortgage, also known as a short sale. Also, if the mortgage servicer modifies a mortgage under the HAMP program, they will receive $1,000, plus additional money over the course of three [...]
Now that many Americans are desperately struggling with debt, there has been a brand new crop of debt and wealth "gurus" who are imparting advice that may not be the best thing for many Americans struggling with debt troubles and considering bankruptcy. One of the most often repeated pieces of advice for homeowners is the [...]
The HAMP foreclosure prevention program is suppose to help four million homeowners facing foreclosure; but the program is far from reaching its goal. The second wave of foreclosures is already upon us and the HAMP foreclosure prevention program is failing to make major progress in convincing lenders to modify toxic mortgages. The Treasury reported recently [...]
Last year we talked about how the (now failed) HAMP program and various foreclosure moratoriums were the only thing standing between homeowners and a second wave of foreclosures. Well, the time has come and that second wave of foreclosures is now upon us. Just in the first three months of 2010 more homes were lost [...]
In the Chapter 13 bankruptcy case of Wilson, David M. and Jamie M.; In re, the bankruptcy court denied the debtors' objection to a creditor's proof of claim and the bankruptcy plan was not confirmed. The details of the bankruptcy case: The Chapter 13 debtors said that there were two claims secured by their home. [...]