Why Draining Your Retirement To Save a Doomed House from Foreclosure Before Filing Bankruptcy is a Mistake
This post was originally published in July of 2009, but our editors feel it still has value in today’s market. Should I use retirement to pay a mortgage? Twice in the last two days I have had the same discussion with two prospective clients. Each client owned a house that at the height of the…Read more
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Deficiency Judgment: After Foreclosure, Do I Owe Money?
A common misconception among consumers is that after foreclosure they will not owe their mortgage lender. Many homeowners who go through foreclosure are surprised to learn that they still owe money on their house, even though they no longer own it! Most mortgage lenders require borrowers to personally guarantee the amount of the note, leaving…Read more
How do I choose my bankruptcy attorney? Cheaper is better, right?
Price Shopping Legal Services is Not Always a Great Idea Well, the first question, first! Choosing your Bankruptcy attorney is an important task, so treat it as such. Many times, bankruptcy attorneys are the only attorneys that our clients have ever seen, so it’s a new experience, on top of the financial stress. This can…Read more
Chapter 7 Bankruptcy in Ohio: What You Need to Know
Last updated June 28, 2017. Ohio, The Buckeye State, is home to America’s first professional baseball team (the Cincinnati Reds), the Rock & Roll Hall of Fame, the Pro Football Hall of Fame, and John Glenn, the oldest man to venture into outer space. It’s also ranked among the top 10 states in terms of bankruptcy filings….Read more
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Secured Debt in Bankruptcy: No Free Lunch
ContentsHow bankruptcy affects car and house paymentsBankruptcy does not relieve the obligation to pay secured debtsWhat is secured debt?Unsecured debtsUnsecured lenders want to become secured How bankruptcy affects car and house payments If you are considering filing for bankruptcy your first questions will likely revolve around how the process will affect your property. Will I…Read more
Chapter 7 Bankruptcy in Michigan: What You Need To Know
Last updated July 31, 2017. When you think of Michigan, you probably think about cars, or Detroit. That’s because Detroit is the car capital of the world. It’s home to the first air-conditioned car, manufactured in 1939 by the Packard Motor Company. University of Michigan is also the first university to be established by any…Read more