Mortgage modification is the changing of a loan; the terms of a mortgage are modified outside of the original terms of the agreement between the borrower and lender.  Homeowners that simply cannot afford their mortgage payments can try to improve their deal with their lender.  The process is incredibly complicated with concessions offered usually only...Read More

Mortgage insurance is something that many homeowners pay for, yet many homebuyers try to avoid paying for.  What is mortgage insurance and why is it a requirement of Federal Housing Authority (FHA) loans?  You may be wondering, “What is mortgage insurance and why do I have to pay for it?” Conventional mortgages have private mortgage...Read More

While bankruptcy can be stressful and frustrating, it is meant to help you in the long run.  Because of this, it is not impossible to refinance your mortgage after bankruptcy.  Depending on what type of bankruptcy you file for, you should be able to refinance fairly soon after your bankruptcy. Chapter 7 bankruptcy generally ends...Read More

Filing for bankruptcy is a big decision. You are probably nervous and overwhelmed about this step in your life. For this reason, you should not go through this alone! Hiring a bankruptcy lawyer will take a lot of the stress and guesswork out of this process. However, you might be hesitating to hire a lawyer...Read More

A sure-fire way to get into debt quickly is to start accumulating interest on some type of balance. Whether you’re dealing with a student loan, a mortgage, or a credit card, interest is the kiss of death for those trying to get out of debt and stay out of debt. It can be very difficult...Read More

As a result of the foreclosure crisis, renters and tenants are now also being affected in addition to homeowners.  An owner previously had occupied the average foreclosed home, but speculators who were interested in rent could have possibly owned it.  These owners were stuck between falling housing values and rising mortgage interest rates.  By a...Read More

If you own a small business and you want to file for bankruptcy, you generally choose to file Chapter 7 bankruptcy or Chapter 13 bankruptcy, depending on your individual situation.  However, there is another type of bankruptcy that you can file for.  Chapter 11 bankruptcy is an option for small businesses that want to restructure...Read More

Today, the number one reason why people file for bankruptcy in America is expensive medical bills.  New data claims that unpaid mortgages and credit card bills are still problems that people who file for bankruptcy face, but medical bills have now passed even these types of debt.  Even people who have health insurance oftentimes find...Read More

Filing for bankruptcy can be overwhelming. It is normal to feel confused, scared and even hopeless when you begin the process. You will be faced with many foreign terms, procedural requirements and rules. One of the strange terms you will come across right away is the “mailing matrix.” Also referred to as the “creditor mailing...Read More

Filing for bankruptcy is a big life decision. As such, you shouldn’t rush into it. Since filing for bankruptcy is not always the best option, it is important to take the following alternatives into consideration before deciding to file for bankruptcy. Negotiation Believe it or not, creditors are often willing to negotiate with you to settle...Read More