As per Foreclosure.com, the nation’s largest provider of data of homes in financial distress, reports that 31,043 Illinois homes are currently in pre-foreclosure status as 23,486 household are already actively involved in the process. In addition, 34,975 bankruptcies have also been recorded during the first quarter of 2015.
Purchasing your first home can be exhilarating, a bit frightening and, at times, overwhelming. Buying a home is often rated as the most important financial decision of your adult life, and being fiscally responsible should be your number one priority.
As Chapter 20 bankruptcy rulings are rounding the circuit court system and gaining momentum, there is one instance where the application of lien stripping second or third property liens may be hitting a snag.
You have reached your breaking point. You are in over your head and have decided that filing for bankruptcy may be your only recourse. It has come down to the wire. You can no longer successfully handle your growing debt and need relief.
Your best option is to contact an experienced bankruptcy attorney in your area but until your scheduled consultation, the following information may provide you a headstart.
Stressing over mounting debt and other financial issues could actually cause your intelligence level to drop. According to a combined study done by several top universities, worrying over money can reduce your IQ score by up to 13 points.
As a society we have become accustomed to labeling different generations with short and catchy nicknames. Currently we have Generation X for those born from 1965 through 1979; Generation Y for those born from 1980 through 2000; and lastly we have Generation Z for those born from 2001 through the present.
A recent article published by the Association of American Retired Persons Bulletin (AARP) exposes a new crisis in our country. It appears that seniors are under siege due to delinquent property bills and haunted by credit collection agencies ready to either secure the debt or take control of the home through a tax lien foreclosure.
According to an article published by the Chicago Tribune, Illinois homeowners plotting to strategically walk away from their homes is not an alarming new trend. For years, homeowners who have been feeling the sting of the housing market whims have often turned to an experienced Strategic Defense attorney to discuss Strategic Default of their mortgage as a method to relieve persistent debt concerns.
You fought the good fight, but it was not enough. Due to financial hardship your family home has gone into foreclosure status and you are now facing eviction in your home state of Illinois. Not only are you reeling from the emotional pain associated with losing your home but you are also regretting not contacting an experienced foreclosure attorney at the onset of your financial difficulties. Now you are left wondering what happens next.
Bankruptcy, as defined by LendingTree, LLC, the nation’s leading online lender exchange, is a complicated situation that can open the door to a personal or business “do-over” without the burden of insurmountable debt but not without possible financial consequences.
It may be easy to briefly define bankruptcy but for those facing the reality, the situation can raise numerous questions, especially when it involves your Roth IRA.