Category Archives: Real estate

Still no more rulings on whether Zillow is useful in bankruptcy court

By doug | Published: November 16, 2011

Its been almost another year that has gone by, and bankruptcy lawyers still have no better clue as to whether Zillow property estimates can be used in bankruptcy court. Zillow.com is an Internet venture that follows the real estate market nationwide. There are property listings on the site, but there are also property valuation estimates […]

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With tax break for short sales set to expire, bankruptcy cases offer a way out

By doug | Published: September 26, 2011

Home values in the Lawrence, Methuen and Haverhill areas have been hit hard. Even Andover and North Andover homeowners have seen big drops in value and lots of negative equity. Many have turned to short sales and deeds-in-lieu of foreclosure to get out of their “problem house” when they need to move. Soon many more […]

Also posted in Secured loans, Taxes | Comments closed

Attorney general enters the debate over MERS; efforts may help bankrupt homeowners

By doug | Published: July 28, 2011

The Boston Globe recently reported that Massachusetts Attorney General Martha Coakley is not backing off her invetigation into the practices of the Mortgage Electronic Registration System known as MERS. Recently, a Massachusetts bankruptcy judge found no fault in the use of MERS to record mortages in dummy names at the registry of deeds statewide and […]

Also posted in Foreclosure, Secured loans | Comments closed

Could electronic banking lead you to bankruptcy?

By doug | Published: July 25, 2011

With the increasing advent of electronic banking options, and cards of all kinds, can you really keep up with it all anymore. More importantly, could the proliferation of debit and credit options actually dive comsumers closer to bankruptcy? I think so. In the days when people reconciled their statements, and debited their own accounts with […]

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Couple driven to bankruptcy by snake infested house

By doug | Published: June 16, 2011

Most people don’t just wake up one morning and decide to file a bankruptcy case; there is always some particular catalyst that makes bankruptcy a possible option. I talk to a lot of people who are thinking about it, and a common reason for example is “I lost my job.” There’s a couple in Idaho, […]

Also posted in Bankruptcy News, Just for fun | Comments closed

I filed for bankruptcy, now where’s my *?!*%$# mortgage statements

By doug | Published: April 20, 2011

Let’s imagine you own a home, but have just filed for bankruptcy because of astronomical credit card or medical debts that got out of control. But you were always sure to pay the mortgage first each month (a smart move, by the way) so you would be sure of a roof over your head. Now […]

Also posted in Practical tips | Comments closed

Is renting out your house a way to save it?

By doug | Published: April 4, 2011

Under the present bankruptcy law, it is very difficult to use a Chapter 13 bankruptcy plan to impose your own mortgage modification on the primary lender for a residential home. There have been near constant efforts to get the Congress to change this, but so far the pleas have fallen mostly on deaf ears. The […]

Also posted in Chapter 13, Secured loans | Comments closed

Leaning: how quick do banks react to bankruptcies?

By doug | Published: March 21, 2011

If you are not making payments on a mortgage, a second mortgage, or some other type of secured loan, like a car payment, and you file a Chapter 7 bankruptcy case, how long will it take for the bank to request a chance to do a foreclosure? Like most legal questions, the answer can be […]

Also posted in Foreclosure | Comments closed

What happens if you can’t pay your mortgage?

By doug | Published: March 17, 2011

A common question people ask is what happens if they are simply unable to make regular mortgage payments? First off, if you are able to make the payments, by all means do so. But people who know the end of the rope is near may consider “strategic defaults” — purposely not making payments in order […]

Also posted in Foreclosure | Comments closed

Massachusetts homestead law changes for the better

By doug | Published: March 15, 2011

Legislators changing laws for the benefit of the average citizen? Before you allow your deep-rooted cynicism to set in, it actually is occurring in Massachusetts today. I wrote back in December that sweeping changes to the Massachusetts homestead laws were slated to take effect in mid-March. Well, March is here, so time for a review […]

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