Debt Relief Chapter 13 bankruptcy is used as a debt relief repayment plan. You must pre-qualify for this plan. If you qualify, then all debt is accounted for and broken down. A supervised repayment plan is put in place with priority debts paid first. The Chapter 13 repayment plan is typically spread over three to…

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The assumptions made by forecasters are sometimes incorrect. Even the most optimistic of buyers can’t help to be a little cautious because in this fast-moving marketplace. With the purchase of a new home, consider that things can change very quickly.  Some people purchase homes they really can’t afford in a tight situation. When abrupt changes…

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Wrongful Foreclosures: Reincarnated Mortgages Rising from the Dead In recent years, American homeowners have had to become ever more familiar with strategies to stop foreclosure and creditor harassment, especially families facing overwhelming medical bills or a loss of income due to unemployment. Many have taken action through loan modifications or refinancing to lower monthly payments…

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Mortgage Delinquencies Up, Wisconsin Homeowners Have Options On behalf of Debt Advisors, S.C. Even though the Great Recession officially ended in 2009, it’s abundantly clear that millions of Americans are still hurting. Indeed, new data shows that the rate of late mortgage payments increased last quarter for the first time since the end of 2009.…

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Foreclosure Reform: Slow, Complicated, Too Late? On behalf of Debt Advisors, S.C. The economy continues to sag under the weight of the continuing real estate crises. Too many borrowers remain underwater on their mortgage loans. Those borrowers are trapped, unable to refinance, obtain a mortgage modification or sell their homes. Working solutions have been few.…

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People struggling with mortgage payments and other debt have several options to help stop foreclosures and other debt-collection actions. By filing for Chapter 13 bankruptcy, for example, an automatic stay is instated, stopping any foreclosure proceedings and blocking creditors’ attempts to collect money. An experienced bankruptcy attorney can advise people as to which option is…

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Mortgage Modification Mediation Program The U.S. Bankruptcy Court for the Eastern District of Wisconsin employs a Mortgage Modification Mediation Program (MMMP). Chapter 13 debtors are able to take part in the mediation program and participation is voluntary. The goal of the program is to help debtors who are beginning the bankruptcy process obtain a timely…

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Wisconsin Bankruptcy Filings Continue to Rise Although the United States is now said to be out of the “Great Recession,” bankruptcy filings continue to rise nationwide. According to the U.S. Bankruptcy Court, “bankruptcy filings rose for the fourth consecutive year in 2010.” In fact, there was a 9.4 percent increase in national bankruptcy filings in…

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Improperly Submitted Foreclosure Documents In Wisconsin, foreclosure filings fell in November to their lowest total in two years. With unemployment rates rising, this was a curious development. Analysts were quick to point out that this apparent good news masked the real reason for the decline. For the past few months, there have been revelations that…

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Most people do not consider bankruptcy the best option-at first. But for many in Wisconsin, the debt elimination offered by Chapter 7 or the structured repayment plans offered by Chapter 13 can be a real life-saver. Even if you’re scared of bankruptcy due to old stereotypes, it’s good practice to get advice from the experts.…

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