First Quarter Shows Big Foreclosed Property Boom

According to RealtyTrac, a real estate data company based in California, close to one out of every three home sales, within the first quarter, was a property in foreclosure. There’s no question, the market has pushed the need for more distressed real estate RealtyTrac said in their latest report. Recent data indicates, the total number […]

CA, Nevada and Three Other States to Receive Home Assistance

The Obama administration has tried, time and again, to introduce new assistance programs, in effort to assist those caught in the tornado of the foreclosure crisis, and unfortunately, not much has helped. Over a third of the Obama administration’s mortgage modification programs’ roughly 1.2 million borrowers, have left the program. The nearly 340,000 homeowners who […]

Bankruptcy Judge Allows Philly Newspapers’ Plan

Chief U.S. Bankruptcy Judge Stephen Raslavich, recently approved a plan for Philadelphia’s largest newspapers to see life after bankruptcy protection, contrary to mounting objections from various employee pension officials. The judge later said the plan is “in the best interest of creditors… (and is overall) a noteworthy achievement” in the shadows of what has been […]

ABI Predicts More Than 1.6 Million Bankruptcy Filings in ‘10

According to the American Bankruptcy Institute, the number of consumer bankruptcy filings jumped 14% in 2010’s first half, to its highest level since the bankruptcy code overhaul, nearly five years ago. The total number of filings climbed from 675,351 to 770,117 according to ABI which cited collected data from the National Bankruptcy Research Center. The […]

A Simple Commercial Loan Modification Guide

This commercial loan modification guide is only meant to serve as a general overview of the commercial loan modification process.  The interested borrower should consult an experienced foreclosure attorney for more information specific to their circumstances. The commercial loan modification is one of the few options that borrowers have to avoid foreclosure on their commercial […]

Lies Your Commercial Loan Lender Will Tell You

Commercial loan lenders are in the business to make money.  Unlike residential mortgages, commercial loans do not currently qualify for any type of government assistance programs, which means that commercial loan lenders do not receive any incentives to modify commercial loans.  Even though modification has historically been shown to be more profitable than foreclosure, lenders […]

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