Blog Posts in May, 2009

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  • 1 out of 8 U.S. Homeowners in foreclosure or late on mortgage payments
    1 out of 8 U.S. Homeowners in foreclosure or late on mortgage payments

    Reuters is reporting that 1 out of every 8 homeowners (approximately 12% of homeowners) in the United States is late on mortgage payments or in the foreclosure process. That is a staggering statistic. ...

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  • Mortgage Modification in Chapter 13 Unlikely
    Mortgage Modification in Chapter 13 Unlikely

    Well, it looks like Chapter 13 Mortgage Modification is dead for now. (See House Likely to Pass Housing Bill This Week Without 'Cramdown'. ) This is unfortunate, because getting voluntary ...

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  • How Do I Modify My Home Mortgage?
    How Do I Modify My Home Mortgage?

    One question I get almost every day is “how do I modify my home mortgage?” This website, Making Home Affordable, is good place to start. It describes the Home Affordable Modification Program and has ...

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  • New York Bankruptcy Court: Debtors and Chapter 13 Trustees Should Object to Stale Proofs of Claim
    New York Bankruptcy Court: Debtors and Chapter 13 Trustees Should Object to Stale Proofs of Claim

    One issue that frequently comes up in bankruptcy cases is the filing of “stale” (i.e., beyond the statute of limitations) claims. What happens is that debt buyers, such as LVNV, purchase a large ...

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