Here is a question asked on AVVO.com: In Illinois foreclosure, when does my name get removed from the property deed? And therefore, my obligation to pay the HoA (Homeowners’ Association) fee’s is done? I have heard 2 things. 1) Not until the bank that foreclosed
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Can missed mortgage payments be put into a Chapter 7 as a way to catch up with a mortgage?
This is a question that was asked on AVVO.com: Can missed mortgage payments be put into a chapter 7 as a way to catch up with the mortgage? I am underwater due to medical bills and was unable to pay 6 months of mortgage payments.
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Bankruptcy Lawyer Reviews- Why are they Important?
I’ve been an attorney for over 20 years, and over the years, I realize that when people pick an attorney, they have no idea whether one attorney is more qualified than another to help them. Many of my clients have come from personal recommendations of
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Student Loan Interest Rates – a Ticking Time Bomb
On July 1st, subsidized student loan interest rates are set to double, from 3.4 percent to 6.8 percent. So far the House has passed a bill which would address the issue, and tie the rates to the Treasury’s borrowing rates. The Senate so far has
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Credit Repair? Is it for Real? No!.
Almost all “Credit Repair” schemes you see are frauds. The article: What do you mean there is No Credit Repair Fairy?” is dead on. We’ve all seen the ads- fix your credit, repair your credit now! Don’t buy it! The author sums it up nicely:
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Looking for a Job— Bad Credit Can Haunt You
The country is trying to recover from recession, and it just seems more difficult for casualties of the economy. If you lose your job and try to find a new one, many employers will check your credit. It becomes a vicious cycle. Because someone loses
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Zombie Foreclosures—Scary for Many Reasons!
Here’s the latest trend in foreclosures and real estate– Zombie Foreclosures. See this article from the Chicago Tribune: http://www.chicagotribune.com/classified/realestate/foreclosure/sc-cons-0418-umberger-20130419,0,2297043.column What is a “Zombie” foreclosure? It’s where the foreclosure has started, the owners often leave the house empty, but the bank doesn’t finish the foreclosure process.
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An Oldie but a Goodie- How much does it Cost to File Bankruptcy?
This is a question that is very hard to answer without an attorney meeting with you. The legal fees and court costs of a bankruptcy are the last part of the process. First, the attorney needs to know which companies you owe, for what, and
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Do I Have to Pay Taxes on Debts I Included in Bankruptcy?
Hopefully, you have filed your taxes by now, but if you haven’t, you could still file for an extension to October 15th. (By the way, the extension doesn’t extend the due date for the payments!) Many times people who file for bankruptcy get 1099-C “Cancellation
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What is an In Rem Judgment in a Foreclosure?
This question came from Avvo.com: My condo was sold at sheriff’s auction and the foreclosing bank was the purchaser. I have received Notice of Motion for Order Approving the Sale.It says “That there shall be an IN REM deficiency judgment entered in the sum of
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