Lake County Bankruptcy attorney

Foreclosure Fraud in Illinois: Are Your Mortgage Documents Valid?

Evaluating the legality of your home loan documents is a critical first step in the foreclosure process. During the housing boom, many mortgage lenders cut corners and failed to properly comply with securities laws in their pursuit of maximizing profits during the boom. If you have received a notice of foreclosure, your loan documents should be reviewed and evaluated for legitimacy by legal counsel as soon as possible. Lenders And Banks Originated Invalid Documents
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Filing Bankruptcy in Illinois

Debt is a familiar reality to many Americans. However, contrary to popular perception, debt is not inherently bad.  When people understand how to manage debt responsibly, they can improve their credit score and acquire loans. Responsible debtors have more opportunity when it comes to buying a home or starting a business.  Unfortunately, unexpected circumstances can put debtors in a position where they cannot make payments. An injury or a natural disaster, for example, can produce steep expenses, and in these cases, one viable option may be filing bankruptcy.
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Saving Strategies for a Promising New Year

The recent release of statistical data by the Administrative Office of the U.S. Courts reveal that bankruptcy filings were down by 11 percent for the 12-month period ending March 2014. The big question, however, is will the downward trend continue throughout 2015?
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Bankruptcy Misconceptions in Illinois

There is often a misconception that people who file for bankruptcy are forced to do so because they were financially irresponsible. Although there are people who do file for bankruptcy for this reason, the majority of people who find themselves in this position get there because of events that occur of which they have no control over. A loss of employment, a serious medical issue, and divorce are just a few of the reasons that can completely wreck someone’s finances and leave them overwhelmed with debt.
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Fitch Ratings Reports Personal Bankruptcies on the Decline for Fourth Consecutive Year

As per iStockAnalyst, an Oregon based online subsidiary of Wall Street Tools, LLC, Fitch Ratings recently reported that consumer bankruptcy is expected to continue to decline throughout the remainder of 2014. Fitch Ratings, a global rating agency, attributes the decline to lower unemployment rates coupled with a recovering economy. Personal bankruptcy rates are expected to decline by eight to 10 percent, marking the fourth consecutive year of lower instances of personal bankruptcy protection petitions.
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Reasons Your Loan Modification Request Was Denied

Trulia, a leader in the real estate industry, recently reported that refinance rates for a 30 year fixed mortgage in Waukegan, Illinois can be obtained for as low as 2.250 percent. Trulia further reported that the median sales price of a home in Waukegan is $91,250, a 30.4 percent home value increase as previously reported a year ago.
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Understanding Why Your Lender is Against Foreclosure

Are you currently experiencing the onset of extreme financial hardship and perhaps thinking of tipping your hand and cashing it in when it comes to your home mortgage? Perhaps you should think again. Saving your home may be worth the fight because in all reality, your mortgage lender actually does not want to repossess your home.
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Research Shows Money Worries Can Lower Your IQ

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.
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  • Newland & Newland LLP, Attorneys, Arlington Heights, IL
  • Lawyer.com