Bankruptcy Articles

Posted on February 08   By MLP Blog
Troublesome Numbers: 7,000 Again. 700,000 for the First Time. The housing meltdown was a major reason in the plummet of the Dow to levels below 7,000. Increased confidence in the financial system resulted in a 2 month rally. However, sentiment is changing as people are starting to see another potential meltdown on the horizon. This next meltdown is likely drop the Dow back to levels below 7,000. In addition, it is possible the country could see non-business bankruptcy filings hit 700,000 in the.... Read More...
Posted on February 08   By MLP Blog
Financing a home after a bankruptcy doesn’t have to be an ordeal. When you find the right lender, you can secure reasonable rates on your mortgage loan. You can improve your loan application with time and some cash leverage. Depending on your financial situation, it is possible to get conventional rates with a bankruptcy on your credit file. Lenders Who Deal With Past Bankruptcies With a recent bankruptcy, you can turn to sub prime lenders to obtain financing for your home. As soon as your.... Read More...
Posted on February 08   By MLP Blog
Efforts by major banks and Wall Street firms to unload bad U.S. housing loans are speeding up a shakeout in the subprime mortgage industry. As more Americans fall behind on mortgage payments, Merrill Lynch & Co. (NYSE: MER), J.P. Morgan Chase & Co. (NYSE: JPM), HSBC Holdings PLC (NYSE: HBC) and others are trying to force mortgage originators to buy back the same high-risk, high-return loans that the big banks eagerly bought in 2005 and 2006. Merrill demanded in December that ResMae Mortgage Corp.... Read More...
Posted on February 08   By MLP Blog
Fraud, abusive lending crushes dreams for millions of home owners Mark and Kerrie Russo, a Jackson, N.J., couple raising two young daughters, are struggling to hang on. Less than a year after buying a home in 2005, which they financed with a 30-year fixed rate loan based on a solid credit history, a local mortgage broker began sending letters offering to refinance their loan. A new product, the sales pitch said, allowed home owners flexibility to choose from a menu of different payments from one.... Read More...
Posted on February 08   By MLP Blog
Area Realtors and loan officials saying that the rush to judgement against the sub-prime loan market may hurt the ability of people who need special assistance in getting home loans or refinancing their existing loans to do repair work. "Sub-prime loans are not bad," Daniel Crouse, president of the Warren Area Board of Realtors, said. "It is the abuse of them that has been bad." The sub-prime loan market has been getting a lot of scrutiny by legislators, federal regulators and others, because so.... Read More...
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