Mortgage Modification: How Laws Are Changing
At the beginning of 2019, there were a lot of changes made to consumer laws. One of these changes included new mortgage modification laws. The amendments in mortgage servicing and loan modifications were made effective April 1st of this year. Consumer Financial Protection Bureau (CFPB) Prepaid Rule The general use of prepaid cards is now […]
How to Complete Bankruptcy Forms
When filing for Chapter 7 or Chapter 13 bankruptcy, it’s likely that you’ll be dealing with a large packet of forms. These include the petition, a series of schedules, and various other documents. These papers form the crux of your case. It’s vital that you know exactly what to fill in where. But don’t fret! […]
Filing for Bankruptcy in Pennsylvania: The Process
Filing for bankruptcy in Pennsylvania is a fairly straightforward process, but if this is your first time, it can seem a bit overwhelming. To help you gain a better understanding of what to expect, let’s look at each step individually. There are two kinds of bankruptcy for individuals – Chapter 7 and Chapter 13. Each type […]
Understanding Your Credit Score When You File for Bankruptcy
Usually, when filing for bankruptcy, you’ve exhausted all other financial options to remain afloat. In terms of being able to pay off your outstanding debt. It may be the smartest thing to do to absolve yourself of having to pay back your lenders. But the downside is what will happen to your credit score, for […]
Maintaining Home Ownership After Filing for Bankruptcy
Bankruptcy often comes as a decision that can be quite overwhelming to many people. It’s the last resort for consumers to deal with the debt that they can’t afford. Catching up after falling behind on your mortgage payments can be challenging. The additional late fees, unpaid debt, and the refusal of partial payments can all […]
What You Need to Know Before Applying for a Loan Modification
A mortgage loan modification is when a lender agrees to restructure the terms of the loan agreement. To make it more manageable and affordable for the borrower. A loan modification is often the last resort and best case scenario for a homeowner who is on the brink of foreclosure. Preparing for the mortgage loan modification […]
Top 10 Reasons for Bankruptcy and What You Can Do
Bankruptcy can be a word that people toss around without fully understanding what it means. An outsider might think that anyone filing for bankruptcy has racked up credit card debt with shopping sprees and vacations. But there are actually a lot of other situations that can lead people into bankruptcy, sometimes through no fault of […]
5 Warning Signs That You Need a Bankruptcy Lawyer
Everyone faces times when money is tight. But sometimes financial circumstances take a turn beyond “money is tight” and into murkier territory. When people face a mountain of debt so high that they cannot expect to repay it within a reasonable timeframe, filing bankruptcy becomes an option. But what is filing for bankruptcy?
How Mortgage Modification Can Affect 2019 Taxes
When you are facing financial difficulties, anything having to do with money can feel overwhelming. You may come home every day to face past due notices, credit card statements, and other bills you simply cannot pay. If those notices include late mortgage notices, you may feel even more stressed out. When you are trying to […]
Home Retention Laws in Pennsylvania You Need to Know
Burdensome mortgage payments cause great stress to homeowners and wreak havoc on their finances. Some homeowners will pretend that nothing is happening, ignoring mortgage due notices and late payment warnings. Others will do almost anything to hang on to their homes, even if it means skipping payments on other bills. But skipping mortgage payments or […]