According to The Center For Responsible Lending 6,600 new foreclosures are filed every day in the United States. That works out to about one new foreclosure every thirteen seconds. A map of foreclosures for each state in 2009 is available on the center’s website. There are two types of foreclosure process generally used to terminate [...]
February 2009
In non-judicial foreclosure states, you have to act really fast. And you have to file a lawsuit in court to stop the foreclosure. You need to get an injunction. You need a lawyer who knows this business and you need that lawyer now.
When can I buy a house after filing bankruptcy? As a bankruptcy attorney, many of my clients are concerned that once they file bankruptcy they wont be able to buy a house. Or at least they wont be able to do so for the ten years a Chapter 7Â bankruptcy stays on their credit report. Truth [...]
Some of my clients want to purchase a home now. The interest rates are low and because of the economy your dollar goes further than it did in years past. They are too excited and as a result they are letting their emotions control their decisions instead of thinking logically. I advise my clients to [...]
A Massachusetts bankruptcy court recently ruled that a chapter 7 debtor’s destruction of his bank statements was insufficient grounds to deny him a discharge under sections 727(a)(3) or 727(a)(4)(D) of the bankruptcy code. The debtor in In re Hegarty, 2008 WL 5246475 (Bky.D.Mass. Dec. 16, 2008), had operated a credit reporting business some years before his chapter [...]
Under the old laws, Chapter 13 payments were not that difficult to figure out. Reasonable monthly expenses were subtracted from monthly net income to arrive at a monthly disposable income figure, which then gets paid for 36 to 60 months, paying off secured, priority, and unsecured claims to the extent possible. Under BAPCPA laws passed [...]
