Lowest home rate ever

The homeownership rate in the U.S. fell to 65.4% in the first quarter, hitting a 15-year low amid still-high foreclosure rates and a stronger market for rents. The rate is lower than the 66% from the fourth quarter and the 66.4% from the first quarter of last year, according to the Census Bureau. The rate hit [...]

Lowest home rate ever

The homeownership rate in the U.S. fell to 65.4% in the first quarter, hitting a 15-year low amid still-high foreclosure rates and a stronger market for rents. The rate is lower than the 66% from the fourth quarter and the 66.4% from the first quarter of last year, according to the Census Bureau. The rate hit [...]

What is a Bankruptcy Discharge?

What is a bankruptcy discharge in a Chapter 7 Case? The bankruptcy court grants a discharge to the person named as debtor. However, it should not be treated as dismissal which has entirely different meaning. The collection of discharged debts are prohibited. The discharge prohibits any attempt to collect from the debtor a debt that [...]

Do you need cheap or production mill attorney for your bankruptcy?

We heard this proverb many times and it is still good when someone is filing for bankruptcy, “You get what you pay for.” One can see hundreds of ad with cheap attorney production mills as well as from bankruptcy petition preparers on TV, online and otherwise in yellow pages (now getting defunct). If you go [...]

Here comes the revised Means Test Figures

Revised Means Test Figures, effective May 1st, 2012 The Census Bureau figures, IRS Data and Administrative Expenses Multipliers for Form 22 are revised effective May 1st, 2012. After updating Best Case Bankruptcy, users can view the new figures in the program by changing the expected filing date to May 1st, 2012 or later on the [...]

What is a bankruptcy fraud?

18 USC Section 157 provides for a criminal fine, imprisonment of up to five years, or both, for any person who, “having devised or intending to devise a scheme or artifice to defraud and for the purpose of executing or concealing such a scheme or artifice or attempting to do so” files a bankruptcy petition [...]

The automatic stay and its wider implications.

We have been asked many times from our clients about automatic stay, and we had discussed this matter in our blog also, But the questions are coming so often and the law has been changing, that we feel obligations to revisit this issue again. The filing of a petition either voluntary or involuntary invokes the [...]

Can you rescind a reaffirmation agreement?

The bankruptcy Code is liberal in this regard. You can rescind your reaffirmation agreement at any time before the bankruptcy court enters a discharge order, or before the expiration of the 60-day period that begins on the date your reaffirmation agreement is filled with the court, whichever occurs later. You must notify the creditor that [...]

What a Bankruptcy Discharge Means under Chapter 7?

The bankruptcy court grants a discharge to the person named as debtor. However, it should not be treated as dismissal which has entirely different meaning. The collection of discharged debts are prohibited. The discharge prohibits any attempt to collect from the debtor a debt that has been discharged. For example, a creditor is not permitted [...]

Inside a Foreclosure Factory of a Bank

This is an interesting article which shows the inner, in-house of a bank where non stop documentation is prepared to increase more foreclosure, which of course is avoidable. All credit of this articles goes to the writer of this article and not to me. http://economywatch.msnbc.msn.com/_news/2012/04/19/11269115-inside-the-foreclosure-factory-theyre-working-overtime?lite