In most parts of the country having a car can mean the difference between being able to keep your job or becoming unemployed. That's why it is important that debtors considering bankruptcy understand the options available to them if they want to keep their car after filing for bankruptcy. Options available to debtors filing Chapter [...]
A Student Loan debtor who received a bankruptcy discharge on their student loans won the battle to keep his student loan bankruptcy discharge. The Supreme Court ruled that although an "undue hardship" hearing should have been held but was not held, the debtor should not be punished by taking away the bankruptcy discharge of his [...]
Starting April 5, 2010, homeowners facing foreclosure will have an additional program to access that is designed to prevent foreclosure. Then newest foreclosure prevention program designed by the Obama administration, homeowners facing foreclosure will be encouraged to sell their home their home for less than what they owe on the mortgage (short sale). Under the [...]
In the Chapter 13 bankruptcy case of Wick, Dana L.; In re, the bankruptcy court confirmed the debtors' Chapter 13 bankruptcy plan over the bankruptcy trustee's objection. Bankruptcy case details: The debtor and her husband purchased a home in February 2006. At the time, they had not sold their existing home. The real estate market [...]
Actor Nicolas Cage's Las Vegas mansion has just been sold after its foreclosure put the home into the hands of the mortgage lender. Nicholas cage has faced four foreclosures since his financial troubles were revealed last year. Reportedly, the home sold in just one day for $4.95 million which is $3.6 million less than what [...]
Michael Lee Wilson could have 10 years removed from his 20 year sentence if his bankruptcy comes up with $2 million for his victims. Back in October, Michael Lee Wilson Pleaded guilty to 59 felony counts of grand theft, because he had been scamming people through his mortgage company, Pacific Coast Mortgage, for several years. [...]
Home sales were down in January, another sign that the housing market may not be recovering as quickly as many had hoped. Sales of previously owned homes fell by 7.2 percent bringing the number of homes sold to its lowest level since summer. "Most of the improvement that we've seen in housing over the past [...]
Re-defaults on loan modifications. Many homeowners who attempted to avoid foreclosure by signing up for a 3 month trial in the HAMP program may end up falling into default again. Presently, the number of defaults in the HAMP program has exceeded 60 percent and many analysts expect that number to rise. Upside-down mortgages. One of [...]
Foreclosures in the Dallas-Fort Worth area rose again by 18 percent compared to last month's foreclosure filings. But compared to last year's foreclosure filings in the same month, the foreclosures increased by a whopping 37 percent. Many analysts believe that many foreclosures that were on hold at the end of 2009 are now being released [...]
In the bankruptcy case DiMare, Donna M.; In re (DiMare v. Ameriquest Mortgage Co., et al.), the debtor filed Chapter 13 bankruptcy and sued their original mortgage lender under the Truth In Lending Act. The bankruptcy court sided with the lender and issued a summary judgment in the lender's favor. The details of the bankruptcy [...]