http://www.bankruptcylawnetwork.com/2007/01/28/common-financial-scams/ Real Lawyers, Real Solutions Thu, 11 Mar 2010 21:25:57 -0700 http://wordpress.org/?v=2.9.2 hourly 1 http://www.bankruptcylawnetwork.com/2007/01/28/common-financial-scams/comment-page-1/#comment-66 Lie of the Day: “Bankruptcy Won’t Stop Foreclosure For Troubled Borrowers” at Bankruptcy Law Network Thu, 22 Feb 2007 00:00:20 +0000 http://www.bankruptcylawnetwork.com/2007/01/28/common-financial-scams/#comment-66 [...] What bankruptcy does do is stop the foreclosure and give you up to five years to catch up your payments. Even if you’re unable to do so, it can still buy you time to refinance or get some more time to sell the house. So why the misleading headline? Look at who wrote the article: an equity skimmer—someone who buys the equity in your house for pennies on the dollar (see my article, Common Financial Scams, that discusses equity skimmers in more detail). He wants people with financial problems to call him, so that he can make tens or hundreds of thousands of dollars of profit off of the home equity you worked so hard to build up. And Chapter 13 bankruptcy? It lets you keep your equity. [...]

]]>