Summer seems to have ushered in some improvement for the housing market according to new data from S&P Indices. The statistics show that the US National Home Price Index increased by 3.6% in the second quarter of 2011. That increase was welcomed following the 4.1% drop experienced during the first … [Read more...]
Father Abandons Son After Foreclosure
August 27, 2011 By Leave a Comment
A depressed, out of work architect facing foreclosure left his Minnesota home, leaving his 11-year-old son behind. According to the Pioneer Press, Sebastian Cross woke up last month to an empty home and two notes his father had written. The newspaper printed this portion of one of the letters: "To … [Read more...]
Study Shows Decline in Small Business Bankruptcy Filings
August 24, 2011 By Leave a Comment
A new study from Equifax shows that small business bankruptcies have declined in 2011 compared to 2010 by more than 15 percent. But this isn't all good news for the nations more than 24 million small businesses. Bankruptcies among small businesses are still 30.03 percent higher than they were before … [Read more...]
Borders’ Liquidation Begins Creating One of Biggest Bankruptcies in History
July 26, 2011 By Leave a Comment
Borders' liquidation sales are underway at hundreds of its retail stores around the country. With discounts of up to 40% on just about everything in the store, many shoppers piled in to their local Borders looking for a bargain. According to reports the sale is happening at 259 Borders superstores, 114 … [Read more...]
Bankruptcy Law Used to Eliminate Second Mortgages
May 10, 2011 By Leave a Comment
According to a report by Mercury News, some California homeowners are using a provision of the bankruptcy code to avoid foreclosure. The once seldom used move helps eliminate second mortgages and keep homeowners from losing everything through a bankruptcy filing. The move has been used hundreds, and … [Read more...]
Foreclosures: Good Deal or Big Pain?
April 8, 2011 By Leave a Comment
There are currently 1.8 million homes in various states of mortgage delinquency according to CoreLogic. While the number of foreclosures may have slowed recently compared to the last three years, inventory is sitting at a nine months' supply. That means there are about 470,000 homes repossessed by lenders … [Read more...]
Foreclosures Rise In December Disappointing Everyone
February 13, 2010 By Leave a Comment
Looking at the numbers of foreclosures for 2009 is sobering. What is even more disturbing is that they had peaked in July of 2009 and then began to decline only to rise again in December. In fact the number of foreclosures rose by 14 percent in December 2009 compared to November 2009. … [Read more...]