Foreclosures in Connecticut are unlike foreclosures in 48 other states.  (Connecticut and Vermont share this weirdness.)  In most cases, a foreclosure does not result in an auction.  Usually, the lender will just come to own your property without an auction.  (Read Part 1 to find out what the first steps are.) So if there is no [...]
November 2009
Lately I have had a number of clients who have asked me whether they should continue to seek mortgage modification, or go ahead and file a Chapter 13 to stop a foreclosure. With the slow pace of lenders’ response to modification applications, and the pressure of possible foreclosure, it can be a difficult decision. Here [...]
The simple answer is yes. Filing bankruptcy will stop the sale of the property – if filed before the time of the sale and the taxing entity is notified of the bankruptcy filing. If a person is substantially behind on his or her property taxes, he may want to file a Chapter 13 which gives the him [...]
Walk Away From Your Home Advises Report An interesting report by a University of Arizona Law professor is causing some stir in the real estate industry.  Professor Brent T. White suggests that homeowners who are seriously upside down in their home should just walk away. According to Professor White, since the homeowner won’t recover any [...]
One of the hardest decisions a small business owner will ever face is whether to shut down a business that is losing money. It is an emotional decision because of the blood, sweat and tears that it takes to go into business for yourself. But it is also a financial decision, fraught with uncertainties and [...]
