Since its beginning in January of 2007, we at the Bankruptcy Law Network have written hundreds of articles about the mortgage and real estate crisis. As of early 2009, foreclosures are at an all-time high. Housing prices have fallen off the cliff, along with housing sales. And even if you want to buy, no one [...]
January 2009
We, consumers and consumer protectionists, are getting hosed. In case anyone forgot, we won the last presidential election. No more Bush, no more Cheney, no more Rove. They are outta here. Gone also are Dole, Coleman, Sununu and Smith. Washington has been fumigated against anti-consumerism and the new tenants are moving in. Welcome to Washington [...]
This morning I woke up and the first thing that I heard was that the Federal Government has started purchasing troubled mortgages to ease the credit crisis. Well, if it were that easy, we should have did it several months ago. Now I feel much better that the Federal Government is going to start helping [...]
Yesterday, Senator Dick Durbin introduced new legislation (S.61) titled the Helping Families Save Their Homes In Bankruptcy Act of 2009 . Also, the exact same legislation was introduced in the House of Representatives by Representative John Conyers. This legislation, if passed, will allow Bankruptcy Judges to modify the mortgages on residential real estate, a practice which [...]
Here are eight nuggets for dealing with debt collectors and resolving your debts pulled from the pages of “Stop Debt Collectors: How to Protect Your Rights and Resolve Your Debts” in today’s edition of Newsday. Don’t hide Don’t pay dormant debt Dispute inflated debts Stop abusive calls Don’t cut off communication Chronicle conversations Negotiate terms [...]
Some time ago, I wrote an article on whether or not a debtor had to make on-going mortgage payments through a chapter 13 plan. The article focused on when you might be required to make the house payment through the plan. In my district, the Eastern District of California, the general requirement is that if [...]
