Bankruptcy, Foreclosure & Loan Modification Posts in February, 2013

Some Attorneys Involved in Loan Modification Scams

The Lawyers’ Committee for Civil Rights Under Law is warning consumers not to be taken in by bogus home loan modification scams. The organization is seeing more and more attorneys lending their name to fraudulent companies promising owners loan modifications and lower mortgage payments in return for thousands upfront. But the companies fail to deliver and the homeowner is out all the money they put up....
Continue Reading »

Electric Chair and Armored Car Up for Grabs in Bankruptcy Auction

A federal bankruptcy judge has ordered online auctions to liquidate the inventory of the J. Parsons retail store in Springfield, IL. The funds raised from the sale will go to pay millions of dollars in federal and state back taxes and penalties the company owes. The State Journal Register reported that the Illinois Department of Employment Security is owed nearly $603,000 because the company did not withhold from employee paychecks....
Continue Reading »

Baby Boomers Experience Mortgage Issues, Foreclosures

Now that mortgages rates have lowered, people are looking to refinance their homes in order to keep them.  To be eligible for refinancing a mortgage, applicants must have good credit ratings and a steady income source.  This presents a problem for older people who could really benefit from easier mortgage payments....
Continue Reading »
  • Newland & Newland LLP, Attorneys, Arlington Heights, IL