TweetFor homeowners that have fallen behind or “defaulted” on their mortgage loan and have decided they do not want to keep the home, a deed in lieu of foreclosure may be an option for them.  In the simplest of terms, the deed in lieu allows the homeowners to voluntarily transfer the property from the homeowners [...]

TweetIf before filing for bankruptcy you had automatic drafts from your bank accounts to pay other bills then this may stop when you file the bankruptcy. It’s obviously important to know that these automatic drafts may stop because we want to make sure you do not get behind on things like house payments, car payments [...]

TweetWhether or not someone who files bankruptcy also needs to do a quitclaim deed or deed in lieu of foreclosure is a question that many bankruptcy attorneys and clients are asking themselves these days.  A few years ago, most banks and mortgage companies (we will call them banks for this blog) foreclosed on a property [...]

TweetWhen you have filed your bankruptcy petition and receive a case number, an automatic stay is enacted to protect you under the bankruptcy code from creditor contact, lawsuits, repossessions, foreclosures, etc.  In turn, this limits the contact a creditor may have with you. If a creditor violates the automatic stay then they can be sanctioned [...]

Tweet  In many cases when a client walks in our office to seek bankruptcy advice it is because they are at the end of their rope and under severe financial distress.  Often times, many clients have already lost or are at risk of losing nearly everything they have. When someone has been injured at work [...]

TweetYes, you may.  Please contact your bankruptcy attorney and request a release form allowing the mortgage company to discuss your loan with you.  Since you are in an active bankruptcy, the bankruptcy code protects you from being contacted by any creditors.  This protection limits the contact between the debtor and creditor, but allows for mediation [...]

Tweet As discussed in a previous blog post, it is taking mortgage companies an extraordinary period of time to foreclose on properties these days.  Unfortunately, the delay in the foreclose process seems to be a “double-edged sword” depending on the homeowners’ goals. In some cases, it is a benefit to the homeowners, since they may [...]

Tweet This is a question that many people are asking these days, why is it taking the mortgage companies so long to foreclose?  As bankruptcy lawyers we deal a lot with people who are trying to save their homes as they enter the foreclosure process. So knowing how long it takes until a home enters [...]

TweetOnce you default on a payment to a creditor, they then have their legal rights to pursue means of collection from you.  When you have something secured, such as a house or a car, if you ignore their repeated attempts of collection, the creditor can simply come and take back what was theirs in the [...]

TweetThere is no doubt about it, bankruptcy will (at least for the short term) have an effect on your everyday life where finances are concerned – from your living situation, the way your bills are paid, how you can get credit and so on and so forth; but does it also effect being able to [...]