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Another great cartoon from BAPCPA Man as he takes on the evil Mortgantua. Really seems to sum up what homeowners must bee feeling if they’re facing foreclosure in New York. To learn more on the topic you can read some of my my previous posts on the topic of foreclosure. Note: This cartoon is posted with . . . → Read More: BAPCPA Man #7 – BAPCPA Man vs. Mortgantua  Leave a comment  Bankruptcy, Debt, Foreclosure, Foreclosure mediation, Loan modification, Mortgage  Bankruptcy, Bankruptcy cartoon, Bankruptcy humor, Brooklyn Bankruptcy, Chapter 13, Chapter 7, Foreclosure, Foreclosure mediation, Loan modification, Mortgage, New York Bankruptcy, New York Bankruptcy Lawyer, Non-bankruptcy options As bad as the foreclosure problem has been, it’s apparently ready to get worse, according to this article in the New York Times (“Loans that looked easy pose threat to recovery“). All the adjustable rate mortgages (“ARMs” for short) we’ve been hearing about are getting ready to re-set over the next four years, and that spells trouble . . . → Read More: New York foreclosures likely to continue as ARMs begin to re-set over next 4 years The equity in this home may exceed the homestead exemption in New York. Yes, you can keep your home if you file for bankruptcy in New York. But it’s not a given. And depending on your circumstances, there are a few different ways to do it. If you file for Chapter 7 bankruptcy in New York, then . . . → Read More: Can I keep my home if I file for bankruptcy in New York? 2 comments Bankruptcy, Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, Creditors, Debt, Exemptions, Foreclosure, Foreclosure mediation, Legislation, Loan modification, Mortgage Bankruptcy, Brooklyn Bankruptcy, Chapter 13, Chapter 7, Foreclosure, Foreclosure mediation, Homestead exemption, Legislation, Loan modification, Mortgage, New legislation, New York Bankruptcy, New York Bankruptcy Lawyer, Non-bankruptcy options, Trustee If you’re facing foreclosure in New York or considering seeking a loan modification for your home in New York, then here’s one more reason to stay away from loan modification companies (as if you should need any more convincing). According to a piece in The New York Times, many of the companies offering to help you with . . . → Read More: Subprime loan modification companies “FREE-FALLING: Borough housing prices plummet,” screamed the lead article in the July 10th edition of The Brooklyn Paper. While it may not be quite as dramatic as the headline indicates in the “Brownstone Belt” (as the article refers to Brooklyn), it’s impossible to deny that the housing crisis is also affecting what has been thought to be . . . → Read More: Big drop in Brooklyn housing prices As New Yorkers and the rest of America brace for more foreclosures, the loan modification option has not helped as much as hoped. As a result, a number of states have been implementing foreclosure mediation programs and other alternative dispute resolution options aimed at nudging more mortgage banks to the negotiating table. The Center for American Progress . . . → Read More: Foreclosure mediation and other new ways to encourage loan modification |
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