Foreclosure Prevention: New Rules Proposed for Mortgage Servicers
A flood of foreclosures has many engulfed hundreds of thousands of people since the Great Recession hit in 2007. This includes hundreds of people in the San Antonio and many more throughout Texas. Federal efforts to stem the tide have been largely ineffective. And mortgage lenders and services have done little to work constructively with […]
Unlike a Short Sale, Bankruptcy Does Not Depend on Lender Approval
If you are behind on your mortgage payments, you are not alone. Many other people in the San Antonio area are too, as well as millions more nationally. Keep in mind, as you consider your choices, that filing for bankruptcy provides an automatic stay on home foreclosure proceedings. Of course, there are also other potential […]
Secured vs. Unsecured Debt: What You Should Know
Whether you considering bankruptcy or not, it’s important to know the difference between different types of debt. The kind of debt you have can affect your credit score, how much money you can borrow, and the interest rates of those loans. This post will describe the difference between secured and unsecured debt? Here is what […]
Creating and Keeping an Emergency Fund Can Be Tough
Create an emergency fund. Financial counselors are very clear on this point. They want us all to have at least several hundred dollars socked away to deal with unexpected needs. In fact, many counselors believe the fund should have more than a few hundred dollars. Some say it should be big enough to cover your […]
San Antonio Foreclosure Data and the National Economy
The real estate meltdown has affected different parts of the country in very different ways. In over-built areas like Phoenix or Miami, the drop in values, and the high rate of foreclosure, remains acute. Yet there are other regions of the U.S. where prices and home ownership have remained more stable. Even in more stable […]
How Filing for Bankruptcy Can Lighten Foreclosure Woes
A spike in default notices from July to August signals a housing market in crisis as a greater number of foreclosures loom on the horizon. According to a recent study conducted by RealtyTrac Inc., a foreclosure listing firm, banks have initiated a new wave of foreclosures and mortgage defaults in order to wipe clean their […]
Filing For Bankruptcy To Save Your Home
If you are currently in the foreclosure process regarding your home, you may have thought about filing for bankruptcy. Most individuals know that if your home is in foreclosure, bankruptcy is a good option to rid yourself or re-organize your debts completely. But did you know that through filing personal bankruptcy, it may even be […]
Lien Stripping in a Chapter 13 Bankruptcy
As the economy and housing market has declined many Americans have found that their house is worth much less than they owe on it. This can be discouraging if you are struggling to make your mortgage payments or considering filing for bankruptcy. Fortunately, there is an old technique known as “lien stripping” or “mortgage stripping” […]
Bankruptcy or Foreclosure, What Should I Do?
In the current economy, there are many people who are beginning to fall behind on payments. When you fall behind on payments on your house, your mortgage lender has the right to file an action of foreclosure against you. In a way, this is similar to what would happen if you defaulted on your automobile […]
Why Payday Loans Don’t Pay
Even during trying moments, most of us hold onto the dreams and plans we have for living a more comfortable financial life. For too many Americans, however, that hope is growing dimmer. Today, more and more of us are living “paycheck to paycheck”. This means that they rely on each and every paycheck to cover […]
