The CEO of JP Morgan has recently stated that municipality bankruptcies (cities filing bankrutpcy) are on a rise. This is yet another effect of the recession – with income on the decline and foreclosures on the rise, cities are losing precious tax revenue and having to cut necessary services. Analysts are looking to these cities […]
Dallas Bankruptcy Attorney: FORECLOSURES ON THE DECLINE IN TEXAS
Dallas Bankruptcy Attorney: FORECLOSURES ON THE DECLINE IN TEXAS. In the month of July, a total of 10,571 foreclosure postings were filed in the state of Texas. This figure represents a 10 percent decline compared to the number of filings recorded in July 2010. Nationwide the decline in the number of postings is even greater, […]
Foreclosures Top One Million in 2010
From the American Bankruptcy Institute’s Website: Home Foreclosures in 2010 Top 1 Million for First Time Banks seized more than a million U.S. homes in one year for the first time last year, despite a slowdown in the last few months as questions around foreclosure processing arose, Reuters reported today. Banks foreclosed on 69,847 properties […]
Pros and Cons of Filing for Bankruptcy
A personal bankruptcy filing can help you get a fresh start, putting an end to the non-stop phone calls, letters and legal actions you face. There are consequences to filing for bankruptcy, though. Before submitting a Chapter 7 or Chapter 13 petition, you want to consider all the advantages and disadvantages, so that you make […]
Strategic Foreclosures – Is It Better To Save Your Home Or Walk Away?
STRATEGIC FORECLOSURES – IS IT BETTER TO SAVE YOUR HOME OR WALK AWAY? One of the most talked about topics in the area of mortgage default is the issue of “strategic defaults”. A strategic default occurs when a homeowner is able to pay his/her mortgage, but chooses to stop paying it and allows the home […]