Bankruptcy, Foreclosure & Loan Modification Posts in March, 2013

Casey Anthony Files for Bankruptcy

Recently, in Florida, Casey Anthony filed for bankruptcy in which she claimed about $1,100 is assets and about $792,000 in liabilities. Anthony, who was acquitted in 2011 of killing her 2-year-old daughter, Caylee, sought out protection from Chapter 7 bankruptcy in Tampa federal court, according to the court records....
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Readers Digest Files Bankruptcy | Libertyville bankruptcy attorney

In 1922 DeWitt Wallace and wife Lila Acheson Wallace produced a magazine that included shortened bits of health, home and family articles from other publications and named it Reader’s Digest. For decades it was part of most doctor offices and coffee tables. However, the past few years, with the media industry getting hit financially, parent company, RDA Holding Company, has filed for Chapter 11 bankruptcy for the second time in four years....
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Office Max and Office Depot Merger

If you are anything like most people, when you run out of paper, need highlighters or just a pack of paper clips, the easiest thing to do is just to run to OfficeMax…or is it Office Depot? Oh, who knows – but it is the office store of guarantee just down the road. Soon, however, it won’t make a difference; odds are the name might even be different....
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New Foreclosure Law In Illinois

The worst of the housing crisis that began in 2007 is over, but the ripple effects continue to plague the economy and American homeowners and likely will for some time to come. According to RealtyTrac, 1 in every 869 housing units in the country received a foreclosure filing in January 2013, which is still a staggering number. Illinois was one of the worst states for foreclosures in January of this year, having 14,090 foreclosed properties in the month—one in every 375 units in the state, a number well above the national average....
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Bank to Compensate Thousands of Wrongfully Foreclosed U.S. Homeowners

British bank HSBC is going to pay $96 million to American homeowners and over $150 million in mortgage relief because its U.S. division unjustly foreclosed on homeowners who had the right to stay in their homes, the Huffington Post reported on January 18. HSBC will pay almost $100 million in cash compensation to over 110,000 homeowners....
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  • Newland & Newland LLP, Attorneys, Arlington Heights, IL