Bankruptcy issues, articles and thoughts by attorney Mark J. Markus
A while back I wrote about the perils of waiting too long to file a bankruptcy case (see http://bklaw.com/bankruptcy-blog/2010/06/waiting-too-long-to-file-bankruptcy/). One common theme that is becoming ridiculously frequent is people waiting for loan modification approval to save their homes from foreclosure and then contacting a bankruptcy attorney on the eve of foreclosure to try to [...]
On January 6, 2009, Senator Dick Durbin (D, IL) introduced Senate Bill 61 called the “Helping Families Save Their Homes in Bankruptcy Act of 2009.” The bill has several provisions, which can be analyzed by following the above link, but the main purpose of the bill is to allow homeowners in a Chapter 13 bankruptcy [...]
There is an epidemic of people defaulting on their mortgage payments, as everyone knows. Real estate brokers are pushing hard to have people do “short sales” on their properties, instead of allowing them to go to foreclosure. In most circumstances, this is a very bad idea. What is a short sale? A short sale occurs [...]
