Recent Foreclosure Settlement: How Does it Affect Wisconsin? On behalf of Debt Advisors, S.C. A recent settlement with the State Attorney General of Wisconsin and 48 other states looked like a light at the end of the tunnel for homeowners who face foreclosure or went through a foreclosure from 2008 to 2011. However, officials are…
Undoubtedly, Wisconsin residents are familiar with the difficult financial times our country has been experiencing. Many individuals experiencing financial hardship are filing for bankruptcy and facing home foreclosure. The economic crisis has also resulted in an epidemic of foreclosure fraud taking place across the country and here in Wisconsin. As the home foreclosure rate increased…
Wisconsin Courts Crack Down On Bankruptcy Petition Preparers If you live in Wisconsin and are considering enlisting the services of a bankruptcy petition preparer to help with your bankruptcy petition, you might want to think again. Due to the poor quality of their work and shady business practices, bankruptcy judges are cracking down on bankruptcy…
Foreclosure Rates for Most Expensive Homes on the Rise On behalf of Debt Advisors, S.C. It seems as though no home value is safe in the current market, and the current crisis is affecting people from all degrees of wealth. While it may be easy to assume that the most expensive homes were the first…
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.…
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.…
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…
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…
Proposed Regulatory Changes Would Reduce Foreclosure Threats On behalf of Debt Advisors, S.C. The attorneys general of all 50 states and the heads of five federal agencies are united in support of a series of reforms of the mortgage industry. A 27-page document sent to the five largest home mortgage firms in the U.S. in…
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 the past year. Wisconsin filing rates have…
