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Dealing with secured debts in bankruptcy
One of the really great features of bankruptcy is that you can use it to get rid of the financial anchors that have been weighing you down. These often include houses that are worth significantly less...
View ArticleConsumer encyclopedia: What is a deficiency judgment?
A deficiency judgment is a legal judgment that can result after a foreclosure. A deficiency is the amount of the mortgage that isn’t satisfied by the sale price of the home in foreclosure. Here’s an...
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The Trouble With HAMP
HAMP, The Home Affordable Modification Program, was implemented during the darkest hours of the economic crisis. The program’s intent was to standardize the criteria under which lenders consider...
View ArticleCan a second mortgage company sue after a foreclosure?
In the wild heyday of mortgage lending, many people were offered two mortgages when buying a house. The first mortgage was a traditional mortgage for 80 percent of the value of the home. But for...
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Using Chapter 13 to stop foreclosure
Often people come to see us after they’ve done everything they can to keep their home out of foreclosure. Many try to get loan modifications from their lenders, but after lots of runaround, most are...
View ArticleI’m behind on my mortgage–what can I do?
The most common problem people come to see about is being behind on a mortgage. Knowing you might lose your home is scary, but there are a lot of ways we can help you get back into good standing on...
View ArticleOur most popular blog posts of 2011
As consumer lawyers we like to know what kinds of issues are on our clients’ minds. So we took a look at our blog to see which posts got the most action. Below we run down the top five of 2011. Can a...
View ArticleThe foreclosure process in Minnesota
The foreclosure process is a mystery to a lot of homeowners. So here’s a timeline that explains how foreclosure by advertisement works (as opposed to foreclosure by lawsuit, which is rare, and has a...
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Is a short sale better than foreclosure?
The short sale industry has been a huge windfall for real estate agents. Some of them scare people into short sales on their home, even though a short sale usually has no advantages over letting your...
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Foreclosure tax relief extended through 2013
We’ve written before about the tax consequences of foreclosure. In some cases, foreclosure can result in the homeowner being charged with tax liability for the amount of debt forgiven by the mortgage...
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