Some debtors in need of filing bankruptcy are hesitant to do so because of one reason: they don’t want to lose their home. This can lead to serious debt issues and stress they might have been able to avoid if they had instead asked a knowledgeable bankruptcy attorney what can happen to a person’s home …
Saving Your Home and the Georgia Bankruptcy Homestead Exemption Read More »
The cracks are starting to appear in the National Mortgage Settlement. The cracks indicate a blatant cheating of loan modifications and practices through Bank of America. The Miami Herald has reported that Florida’s Attorney General, Pam Bondi believes that Bank of America has failed “to follow the rules of a national mortgage settlement reached last …
The Wall Street Journal recently reported that the foreclosure crisis that has gripped Spain has led to two high profile suicides. Spain’s twenty five percent unemployment rate has left many people unable to make their mortgage payments. A former politician from Barakaldo, Spain, threw herself out of a fourth floor window because of her distress …
Spanish Foreclosure Crisis Leads to Two Suicides Read More »
Do you remember when Mike Tyson bit off a chunk of Evander Holyfield’s ear? That was a bad day for Mr. Holyfield but this week might have been worse. Evander Holyfield said that he always thought he would be able to save his 54,000 square feet mansion on 235 acres in Fayette County, Georgia with …
Could Chapter 13 Have Saved Holyfield’s House From Foreclosure? Read More »
Can you imagine living in a state where a mortgage company could take your house away from you through foreclosure without you ever knowing about it? Welcome to Georgia! Your mortgage company currently has no legal obligation to notify you of their intent to foreclose on your home. However, in a recent online edition of …
Georgia Senate Approves Foreclosure Notification Bill Read More »
Newspapers across our nation have been full of articles detailing bank foreclosure practices that have been abusive. It now looks like the federal government will attempt to respond to this foreclosure abuse. The Wall Street Journal has reported that federal regulators will review millions of foreclosure cases to determine whether some consumers should be compensated …
Foreclosure Cases – Federal Regulators Will Review Millions Read More »
When a house gets foreclosed, many consumers fear that they are still owing money to the lender after the foreclosure of their home. In Georgia, it is usually only the second mortgage companies that pursue a deficiency after a house is foreclosed. However, the Wall Street Journal reports that many banks are now pursing deficiency …
House Foreclosed But Still Owing Money to the Lender Read More »
Bloomberg news has reported that U.S. Bankcorp and Wells Fargo have lost a major foreclosure case in the Supreme Court of Massachusetts (click here to see the full article). This ruling upholds a decision from a lower court that declared that two foreclosures in Massachusetts were not valid because the banks did not prove they …
Second mortgage debt on a vacation home or rental property can be a tricky situation for debtors. If your vacation home or rental property gets foreclosed, your second mortgage holder can file a 1099c with the IRS and the debt will be counted as income. For some people, this could result in a huge tax …
Bankruptcy and Second Mortgage Debt on a Vacation Home Read More »
The Atlanta Journal and Constitution recently reported that Bank of America will temporarily stop foreclosures so that it has time to make sure all of their documents are in order. This past Friday, I received a call from a Chatsworth GA bankruptcy client who is wondering if this means their foreclosure scheduled for the first …