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John Habashy’s Legal Guides

31 total

  • How Does Chapter 13 Work?

    The court expects you to change your lifestyle. With trustee monitoring your financial attitudes, your case can be reopened to enlarge the payment, or dismiss it, opening the way for creditors to pursue you in a court of law with each creditor filing a separate lawsuit. This will...

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  • How Does Chapter 7 Bankruptcy Work

    Chapter 7 is the easiest and most sought after bankruptcy filling in the United States. Established under Title 11 - Bankruptcy Court, Chapter 7 enables debtors, such as distressed borrowers, to unload all their debts in exchange for a fresh start. Debtor's assets are collected a...

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  • How Loan Modification Works?

    How Can A Loan Modification Help? A modified loan protects the credit rating of a borrower and it also helps you lower your payment without having to refinance. Our attorneys and underwriters will n

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  • Foreclosures Rise

    Lenders are poised to take back more homes this year than any other since the U.S. housing meltdown began in 2006. About 5 million borrowers are at least two months behind on their mortgages and more will miss payments as they struggle with job losses and loans worth more than th...

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  • The Foreclosure Process

    Foreclosure Defined. A foreclosure occurs when a property owner cannot make principal and/or interest payments on his/her loan, typically leading to the property being seized and sold.

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  • Effective ways to collect a debt

    If you wrote a check to the business, you may be able to look at the back of your cancelled check to find out where the debtor's business bank account is located. You could then collect by directly levying on the debtors bank account. In addition you may want to either do a till ...

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  • A sheriff can take the debtor's car and sell it to collect your money.

    But this process is fairly expensive. Also, there often isn't enough value, if any, left in the car to pay very much of the judgment. Start by getting information about the vehicle. What is the vehicle identification number (VIN)? Does a bank or other lender have an interest in ...

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  • New Bankruptcy Laws: Chapter 7 And Chapter 13 Bankruptcy Information

    There could be different rules for filing personal bankruptcy under chapter 7 or 13. Therefore, choosing the right option for securing debt relief could be a challenging task. This only necessitates the urge for proper federal bankruptcy information for debtors who are considerin...

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  • How does a bankruptcy means test work?

    If a person falls below the median income for his state in which he resides then a person doesn't have to undergo any kind of financial analysis and he can easily filing bankruptcy without any problem. Calculating the income is done as follows: One should include everything whic...

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  • Understanding Short Sales

    A short sale is when a lender accepts a discount on a mortgage to avoid a possible foreclosure auction or bankruptcy. Instead of buying from a seller, you are purchasing the property directly from the lender for a discount.

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