According to an article in the Star-Telegram, mortgage giants Fannie Mae and Freddie Mac , would topple over into bankruptcy without the lifeline of government funding that has poured into these behemoths since September 2008.The article said: "The companies, created by the government to ensure the availability of home loans, have tapped about $96 billion [...]
According to an article in Bloomberg, the number of wealthy Americans who filed Chapter 11 bankruptcy jumped 73 percent in the second quarter of 2009 from a year earlier. The article said: "More individuals or families with at least $1,010,650 in secured debt and $336,900 unsecured are using Chapter 11 of the U.S. bankruptcy code [...]
Even if the economy recovers it may take a year or two for the rate of business bankruptcies to slow down. An article from BusinessWeek says that there are no signs that the high rate of business bankruptcy filings will slow down. In May alone 7,514 business bankruptcies were filed. This number is up 40% [...]
According to an article in the Star-Telegram, Dallas-Fort Worth senior citizens are being targeted by a company claiming that they can help them pay less in property taxes. Many senior citizen homeowners have received very official looking papers in the mail with a Fort Worth P.O. Box asking that they send $55 for help reducing [...]
According to an article in the Dallas Morning News, Dallas-Fort Worth's hotel industry has hit a rough patch, occupancy rates are way down and if things don't improve soon some area hotels may be heading to bankruptcy.The article said: "For the first six months of 2009, demand was off by 10.9 percent, occupancy by 12.4 [...]
If you have filled out an application for credit with a bank recently you've probably noticed that the banks have made a little change to their bankruptcy question. Before, banks would ask potential customers if they had filed bankruptcy within the past 10 years. Now, banks are asking potential customers if they have "ever" filed [...]
According to an article in the Star-Telegram, new rules governing electricity companies will take affect December 1st that may save consumers money. In the past some consumers many of who were already struggling financially, facing foreclosure or considering bankruptcy, were often slammed with high electricity bills when their fixed-rate electricity contract expired. Or, consumers could [...]
According to an article in the Star-Telegram, Gov. Rick Perry is poised to fight national healthcare because he believes it is a violation of states' rights and could lead to "debt-inducing expansions of government." Instead he presented Washington with his own single state plan to treat the poor and uninsured. Being uninsured or underinsured causes [...]
According to an article in the Star-Telegram , Michael Jackson's will may be contested by his mother Katherine Jackson. Mrs. Jackson wants a seat at the table of the estate's trustees; but will her bankruptcy work against her? The article said: "Jackson relied on his 79-year-old mother for more than emotional support: Documents show he [...]
According to an article in the Star-Telegram , the government plans use shame (instead of Bankruptcy) to encourage the mortgage industry to modify more toxic mortgages and prevent foreclosure. The article said: "By publishing the names of companies that are lagging behind in the government's plan to ease the housing crisis, officials are counting on [...]