BANKRUPTCY LAW – Foreclosure

Homes are substantial investments. Most people have to spend years paying off their mortgages. The standard term for a mortgage is 30 years. At any point until a homeowner has paid their mortgage in full, they are theoretically at risk of losing the property. Lenders...

Strategic foreclosure, sometimes called voluntary foreclosure, involves a decision to stop making payments on a mortgage and walk away from a property, even though the borrower can technically afford to keep paying, at least for a time. While this choice is often...

A home financed by a mortgage is collateral for the loan. Until the buyer pays what they owe in full, the property is vulnerable to foreclosure. If a homeowner misses multiple back-to-back payments, their lender could initiate legal foreclosure proceedings. People at...

A homeowner who is unable to pay for their mortgage will have to figure out what options they have to avoid foreclosure. In some cases, they may simply accept that they can’t afford the home any longer and pursue options like deed in lieu of foreclosure.  In other...

Bankruptcy is a legal option for reclaiming your financial future. Many people assume that they won’t be able to rebuild their credit once they file for bankruptcy, but that’s not the case.  While a bankruptcy stays on a credit report for up to 10 years, it’s possible...

If you accidentally miss a mortgage payment and send the check in late, your lender isn’t going to foreclose immediately. However, if your finances are getting tight and it becomes clear that you’re going to miss a payment, you may naturally be concerned about losing...

A lot of people who realize that they’ve found their “one and only” decide to take the plunge and propose during the holiday season. It makes sense, since not only is it a romantic season but the jewelry stores tend to offer deals on engagement rings and generous...

When financial troubles strike, New York City residents often find themselves confronting a trio of concerns: foreclosure risk, bankruptcy considerations and the possibility of credit discrimination. For homeowners, the threat of losing their property can be the most...

As an aspiring homeowner, facing foreclosure is more than just losing a property; it’s about giving up the dream of having a place to truly call your own. Watching the hard work and planning slip away can be incredibly overwhelming, but it’s important to remember your...

There’s no question that medical debt accounts for a large portion of overall consumer debt in this country. Further, because hospitals and other medical providers are quick to turn it over to collection agencies, it’s also among the most likely to appear on credit...