In Rachel Foley’s recent posting here, she urges readers to think once, twice, three times about trying to represent yourself in bankruptcy. About a month ago, I posted on a “painful to watch” 341 hearing with two debtors who tried to use a bankruptcy petition preparer and save money. Each [...]

Popularity: 35% [?]

George Will’s recent column on “economic hypochondria” is both simplistic and elitist. While his point about the extent to which media and politics have magnified the currrent sense of economic doom have substance, his comments on sub prime mortgages and student loans are the product of an Ivy League education and [...]

Popularity: 9% [?]

Congress could help homeowners in trouble, but once again has said a loud “NO” to help for homeowners in need. Today the Senate did not vote to support S.R. Bill 256 which could have helped so many families facing loss of their homes. Something has to be done to give some relief to [...]

Popularity: 41% [?]

There have been alot of reports for the last few weeks on a new company, “You Walk Away”. The company says that, with their help, distressed homeowners can “walk away” from their mortgages, homes, and suffer no consequences. Can this be true? The NewYork Times article by John [...]

Popularity: 31% [?]

Congress is considering much needed help for homeowners by allowing court supervised modification of home mortgages in bankruptcy court, but the lenders are fighting to stop them. This legislation is important because it gives homeowners facing foreclosure a chance to save their homes by repaying the loans on more favorable terms.
The lenders win [...]

Popularity: 36% [?]

An interesting article written by Patrick Enright of Newsweek.com explores a correlation between evangelical Christians, in the Bible belt and Mormon mountain West, and states with a high concentration of payday lenders. The article examines the results of a state by state count of these two groups conducted by two law school professors for [...]

Popularity: 19% [?]

You can’t look at a newspaper or turn on a news program without seeing something about the mortgage crisis, yet no true help has been offered. Experts agree that bankruptcy courts provide a unique opportunity to have experienced judges oversee modifications of loans to help families in crisis and protect our economy.
I [...]

Popularity: 22% [?]

A bill introduced in the U.S. Senate last night will change the bankruptcy law to allow judges to modify a debtor’s mortgage loan on his home. This bill will help families save their homes from foreclosure.
The proposed law, S.2636, eliminates a provision of the bankruptcy law that prohibits modifications to mortgage loans on the [...]

Popularity: 36% [?]

Congress is considering the “Emergency Home Ownership and Mortgage Equity Protection Act of 2007.” This bill would change the bankruptcy code to permit a bankruptcy judge to modify the terms of a home loan in a Chapter 13 proceeding. HR 3609 makes a small change in §1322(b)(2) of the bankruptcy code that now [...]

Popularity: 34% [?]

Recently, on MSN.com, columnist Liz Pulliam Weston, wrote an opinion piece entitled, “Let’s Punish Lenders Of Easy Credit.” Ms. Weston points out that in the year following its implementation, revolving debt rose at a sharply increased level than previous years (despite nearly 2 million folks rushing to file before the law changed on [...]

Popularity: 32% [?]