» Site Navigation |
|
|
|
» Free Evaluation |
Welcome to the Bankruptcy Forum!
Bankruptcy was designed to resolve debt and stop foreclosure and lawsuits.
Ask a bankruptcy attorney whether Chapter 7 or 13 bankruptcy could help you.
 FREE BANKRUPTCY EVALUATION FORM
|
|
» Links |
|
|
|
Why We Care About Idiot Homeowners |
|
Feb 08, 2010 - 1:20 PM - by HakunaMatata
|
February 1, 2010
Last week I penned an article, "Why Are Homeowners Idiots?", that engendered a lot of heated debate.
The basis of the article was a paper by University of Arizona law professor Brent White. As White's paper pointed out, many severely underwater homeowners are staying put because of a perceived moral obligation to continue paying. Many readers of the article felt very strongly about this obligation, and suggested that there's no good reason to... [Read More]
|
0 Replies | 63 Views
|
|
More than 10,000 Britons declared insolvent every month |
|
Feb 05, 2010 - 6:52 AM - by keepinitreal
|
Feb 05 2010
More than 10,000 Britons are being declared insolvent every month, the highest level on record, official figures have shown.
Despite the recession being declared over, many households are still unable to live within their means.
And experts warned insolvency numbers will rise further once interest rates begin to head above their current low level of just 0.5 per cent.
Alan Tomlinson, partner at insolvency practitioners Tomlinsons,... [Read More]
|
|
0 Replies | 68 Views
|
|
Sponsor |
|
Mar 14, 2009 - 6:34 AM - by laz
|
|
|
0 Replies | 213 Views
|
|
Mortgage lenders pursue homeowners even after foreclosure |
|
Feb 03, 2010 - 11:50 AM - by moneytrouble
|
February 3, 2010
As terrible as it is to lose your house to foreclosure, at least it's a relief to put your biggest financial headache behind you, right?
Wrong.
Former homeowners may still be on the hook if there's a difference between what they owed on their mortgage and what the bank could sell it for at auction. And these "deficiency judgments" are ticking time bombs that can explode years after borrowers lose their homes.
It can... [Read More]
|
|
1 Reply | 207 Views
|
|
No Aid or Rebound in Sight, More Homeowners Just Walk Away |
|
Feb 02, 2010 - 6:13 PM - by keepinitreal
|
February 2, 2010
In 2006, Benjamin Koellmann bought a condominium in Miami Beach. By his calculation, it will be about the year 2025 before he can sell his modest home for what he paid. Or maybe 2040.
“People like me are beginning to feel like suckers,” Mr. Koellmann said. “Why not let it go in default and rent a better place for less?”
After three years of plunging real estate values, after the bailouts of the bankers and the revival of their... [Read More]
|
|
2 Replies | 188 Views
|
|
Tax Refunds Can’t Be Intercepted Anymore by Michigan Chapter 13 Trustees, Federal Cou |
|
Feb 01, 2010 - 10:06 AM - by keepinitreal
|
February 1, 2010
In United States v. Carroll, No. 2:09-cv-13505 (E.D.Mich. Jan. 20, 2010), a U.S. district court ruled that the chapter 13 trustees of the Eastern District of Michigan may no longer seek to intercept the federal income tax refunds of chapter 13 debtors. The IRS had soveriegn immunity from bankruptcy court orders requiring the IRS to intercept tax refunds, the court held.
This ruling ought to assist chapter 13 debtors in keeping all or a portion of... [Read More]
|
|
7 Replies | 242 Views
|
|
I'm walking from my underwater mortgage |
|
Jan 31, 2010 - 9:57 AM - by keepinitreal
|
January 31, 2010
I stopped paying my $1,450-a-month mortgage on my 200-year-old, four-bedroom home in September 2008 -- after making the hard decision to walk away from my mortgage because it is hopelessly underwater.
It is not an easy decision to walk away from your home, and in the beginning I actually felt like a loser. That was the hardest part.
You see, I was raised to live up to my financial responsibilities. I was taught plenty about personal... [Read More]
|
|
2 Replies | 277 Views
|
|
Should You Walk Away From Your Mortgage? |
|
Jan 27, 2010 - 10:29 AM - by keepinitreal
|
January 27, 2010
The New York Times has run a couple of articles in recent weeks about whether it makes sense to walk away from a mortgage that is bigger than the house is now worth. In a recent paper cited in an article on Sunday, “Underwater, but Will They Leave the Pool?” a University of Arizona law professor, Brent White, explained how the vast majority of underwater homeowners continue to make mortgage payments even if it might make more financial sense for them... [Read More]
|
|
0 Replies | 224 Views
|
|
West Virginia sues Capital One for deceptive collection practices |
|
Jan 25, 2010 - 2:17 PM - by HHM
|
January 22, 2010
West Virginia Attorney General Darrell McGraw has sued McLean-based Capital One Bank and four other companies for unfair, deceptive and “unconscionable conduct in connection with their credit card lending and collection practices,” McGraw’s office announced.
Capital One spokeswoman Julie Rakes said the company does not comment on pending litigation.
The complaint alleges that Capital One Bank, a subsidiary of Capital One... [Read More]
|
|
2 Replies | 209 Views
|
|
$5.4B NY Housing Complex Returned to Creditors |
|
Jan 25, 2010 - 9:46 AM - by DeadManCrawling
|
January 25, 2010
NEW YORK — The financially troubled owners of two massive apartment complexes that sold for a record $5.4 billion a few years ago said Monday they're turning them over to their creditors.
The joint venture ownership led by Tishman Speyer Properties and BlackRock Realty couldn't make a $16 million loan payment earlier this month for the Stuyvesant Town and Peter Cooper Village apartments in Manhattan.
Over the last few days it... [Read More]
|
|
2 Replies | 88 Views
|
|
Underwater, but Will They Leave the Pool? |
|
Jan 23, 2010 - 3:19 PM - by keepinitreal
|
January 23, 2010
MUCH has been said about the high rate of home foreclosures, but the most interesting question may be this: Why is the mortgage default rate so low?
After all, millions of American homeowners are “underwater,” meaning that they owe more on their mortgages than their homes are worth. In Nevada, nearly two-thirds of homeowners are in this category. Yet most of them are dutifully continuing to pay their mortgages, despite substantial financial... [Read More]
|
|
2 Replies | 223 Views
|
|
|
» BKForum Disclaimer |
Our site provides information about bankruptcy law, credit, foreclosures and so on. This information is designed to help users safely cope with their own legal needs.
Legal information is not the same as legal advice.
No advice given on our forums can be considered legal advice. We recommend you consult a lawyer if you want professional assurance that information given to you by other forum members, and your interpretation of it, is appropriate to your particular situation. Everything is strictly informational.
|
|
» Stats |
Members: 24,969
Threads: 49,975
Posts: 369,858
Top Poster: HHM (10,089)
|
| Welcome to our newest member, ProDebtor |
|
» Today's Birthdays |
|
None
|
|
