Written by attorney Gust Sarris, about 4 years ago. STAFF PICK
What is a loan modification?. It is when the lender (Bank) and borrower (Homeowner) enter into a new agreement that replaces or modifies the original agreement. For example the Bank may allow you... more
Written by attorney Margery Golant, almost 3 years ago. STAFF PICK
The Foreclosure Process. Foreclosure is the process by which the lender takes control of the property which was pledged as collateral for the mortgage debt and sells the property to raise money to... more
Written by attorney Margery Golant, almost 3 years ago. STAFF PICK
Foreclosure is the process by which the lender takes control of the property which was pledged as collateral for the mortgage debt and sells the property to raise money to pay on the debt created by... more
Written by attorney Margery Golant, over 2 years ago. STAFF PICK
A mortgage is a debt agreement that is made between a person who wants to borrow money and a lender. The major difference between mortgages and other sorts of debts is that the borrower gives real... more
Written by attorney Moses Apsan, about 2 years ago.
Filing IRS Form 982 prevents the need to pay taxes on the mortgage debt forgiven Fling a bankruptcy and surrendering your home or reducing the 2nd mortgage, short sales and foreclosure can all... more
Written by attorney Matthew Johnson, 6 months ago.
The government allows most debts to be “discharged” through bankruptcy. A discharge erases the obligation to pay the debt and prohibits collection actions against the debt. This is a partial list... more
Written by attorney Seth Rosenberg, over 1 year ago.
The possibility of losing your home to foreclosure can be terrifying. The reality that scam artists are preying on desperate homeowners is equally frightening. Many companies say they can get a... more
Written by attorney Seth Rosenberg, almost 2 years ago.
As I wrote previously about credit card debt, there is a consumer debt crisis in America. In this blog I will write about the home loan crisis and the companies that prey on those looking for a... more
Written by attorney Lawrence Marraffino, 4 months ago.
The following are comments from a Chapter 7 Bankruptcy Trustee: As a Chapter 7 bankruptcy trustee, Martino deals with fallout from home loans, student loans and credit card debt gone wrong Some... more
Written by attorney Steven Neuner, over 2 years ago.
Normally, when a debt is cancelled for less than full payment, this creates a type of income called Debt Discharge Income. A bankruptcy discharge does not have this problem. Surprisingly, even a... more
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