Mar 24th 2011 10:30AM
The "Great Recession" has been anything but great for most peoples' bottom line. According to the National Bankruptcy Research Center, over 1.5 million people have declared bankruptcy in 2010, while RealtyTrac reports that 1.05 million homes went into foreclosure the same year. Both of these rates are record high... Continue Reading »
Mar 22nd 2011 2:17PM
Facing foreclosure and fed up with the banks trying to take back your home? Well, a foreclosure loophole that helped an Ankeny, Ia., home construction worker and his mortgage loan originator wife win a 2009 court judgment against CitiMortgage, giving them title to their $278,000 house free and clear after only one mortgage... Continue Reading »
Oct 19th 2010 5:02PM
NBA star Kevin Martin (pictured left), who was traded by the Sacramento Kings to the Houston Rockets in February, just received a notice of default on his California home, even though he is set to earn at least $10 million this year. The Rockets guard, who missed his first payment on the $1.5 million loan in June,... Continue Reading »
Aug 18th 2010 3:34PM
If there is one financial firm that remains inseparable from the real estate calamity of the last two years, it's Lehman Brothers. Today's shocker? Lehman's back in business, as an aggressive player in the post-crisis commercial real estate market. Remember that Lehman filed for Chapter 11 bankruptcy on September 15, 2008,... Continue Reading »
Jul 23rd 2010 5:03PM
It's sad but true. Americans are increasingly filing for bankruptcy in order to avoid foreclosure. Katherine Porter, a bankruptcy expert at Harvard Law School, estimates that 75 percent of Chapter 13 filings fall into this category. "Despite all the government programs, bankruptcy is probably the most commonly used... Continue Reading »
