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Category: Foreclosure

Can bankruptcy stop foreclosure on my home?

If you are facing foreclosure on your home in 2021, you aren’t alone. The economic downturn of 2020 has led many homeowners to get behind on their mortgage payments. You now may be considering your options, hoping for a way to avoid foreclosure. Seeking bankruptcy is one option you should consider. Avoiding home foreclosure through

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Setting up a budget for a home

Buying a home is one of the biggest purchases you make in your entire life. It usually requires in-depth planning and budgeting in order to maintain the right house in your right budget. However, it’s still challenging to determine what is affordable for you. There are a few strategies that homeowners can use to determine

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The emotional impact of foreclosures on families

Americans continue to see a rise in foreclosures as the mortgage bubble shows signals that it is about to pop. However, many families feel stuck because they do not want to uproot their children and they cannot afford their current residence. With over 250,00 new families entering foreclosures every three months, it begs the question

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Does Chapter 7 bankruptcy mean losing your home?

People who find themselves considering bankruptcy due to financial hardship often worry about the long-term implications of bankruptcy. Misinformation abounds on this topic, and many people are quick to claim that filing bankruptcy means losing your home. While it is true that Chapter 7 bankruptcy proceedings may sometimes require the liquidation or sale of assets

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Are more foreclosures on the horizon?

The recent climate is extremely stressful for most Americans for several reasons; many citizens do not help a job, remain locked in their homes and struggle with the costs of living with limited or no income. It puts most families in a dark position where they have to consider the future of their finances and

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Three last-minute tactics to prevent foreclosure

You may be behind on your home payments, and you’re almost at the point where you feel like there is no way out of foreclosure. It’s an overwhelming and terrifying thought for most homeowners. No one wants to face losing their home. But there are some last-minute strategies you can try before allowing the foreclosure

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What happens after taking out a second mortgage

Mortgages are fairly common. Anyone who buys a home or knows they will receive a mortgage loan until the property is paid off entirely or you decide to move. However, most people do not know that you can take out additional mortgage loans on your home, essentially using it as collateral. Should you take out

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What’s a “healthy” amount of business debt?

Most business owners anticipate costs upfront. Between loans, investments and property development, most entrepreneurs have to put in a lot of cash before they can see any profits in the future. But what’s a reasonable amount for business-related debt? The answer is it depends. Most business debts rely on multiple factors like the industry you

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Can filing bankruptcy save my home from foreclosure?

When you’re experiencing financial hardship, life becomes full of uncertainties. Looking at your monthly budget can be incredibly stressful. Where is the grocery money coming from this month? What funds are available for the utility bill? How will you cover the mortgage payment? The last question—the mortgage payment—can be the biggest concern. It may be

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How bankruptcy can help those facing foreclosure

Being faced with the prospect of losing your home can be a scary situation to be in. You may worry about your child’s future and about how you will bounce back after losing your home. There are many ways to avoid foreclosure. In general, it is necessary to take early action to put preventative measures

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