Assessing the Implications: The potential affects on real estate a ban on short selling bank backed stocks would have! Back in May 2023, one topic that gained momentum was the potential ban on short selling of bank stocks in the United States. While this idea has its supporters and detractors, it’s essential to analyze the …
Riding the Rising Tide: A Foreclosure Storm Looms over U.S. Housing Market I’m Marvin Morrison, the steadying hand behind SFALLY.com, and an experienced Realtor with deep roots in Michigan. I’d like to take a moment to bring to light some numbers from the Midyear 2023 U.S. Foreclosure Market Report, released by the revered property data …
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Foreclosure: Prevent it Before It Starts A home is much more than four walls and a roof; it’s where we nurture dreams and make lasting memories. So, when financial hardships arise, the threat of foreclosure can feel devastating. But there’s good news: taking a proactive approach can help homeowners like yourself prevent foreclosure before it …
The Foreclosure Process Unraveled: Protect Your Home Today For many, a home is a symbol of security, comfort, and achievement. It’s where memories are made and futures are built. But what happens when financial hardships come knocking at the door and threaten this sense of security? Foreclosure could be a real concern. Understanding the foreclosure …
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PART 7: Pause: How Long Until I Can Get a New House? The journey to homeownership post-bankruptcy can be both challenging and rewarding. The duration largely depends on the type of bankruptcy you filed, your credit health, and the type of loan you’re seeking. After a Chapter 7 bankruptcy, you’ll typically need to wait two …
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part 6: Stays: But I Thought I Had to GO! In the legal world of bankruptcy, a “stay” refers to the automatic stay provision outlined in 11 U.S. Code § 362. An automatic stay is a federal injunction that stops actions by creditors to collect debts from a debtor who has declared bankruptcy. This automatic …
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Part 5 Lien Stripping: What is That? Lien stripping is a powerful tool available under Chapter 13 bankruptcy. If you have multiple mortgages and your home’s value has decreased to the point where the first mortgage exceeds the property’s current value, then Chapter 13 bankruptcy allows you to strip or remove the second or third …
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Part 4 Before or After Foreclosure: When should I file for Bankruptcy? The timing of when to file for bankruptcy in relation to foreclosure depends on your specific circumstances. Filing for bankruptcy before foreclosure can temporarily halt the foreclosure process due to the automatic stay. This relief might provide you with the opportunity to negotiate …
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Part 3 Lucky number 7 or Or Ms Swift’s Favorite Number 13: When contemplating bankruptcy, you’ll likely encounter Chapters 7 and 13 of the U.S. Bankruptcy Code. While both types have the potential to forestall foreclosure, they accomplish this in different ways and have different long-term effects. Chapter 7 bankruptcy, also known as a “liquidation,” …
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Part 2 Does Bankruptcy Stop Foreclosure? To dive right into the heart of the matter, yes, bankruptcy can stop foreclosure, thanks to a provision in the United States Bankruptcy Code known as the “automatic stay.” An automatic stay is like a protective shield, halting most collection activities by your creditors, including foreclosure. When you file …
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