You need to be very careful when hiring someone for loan modifications. See why.

The next step for the new bankruptcy laws for 2009 is the Senate. Source: Hale Antico, Los Angeles Bankruptcy Blog

According to RealtyTrac, foreclosures were up 30% last month.

Helping Families Save Their Homes Act of 2009, has passed the House 234-191. This bill, also known as H.R.1106, would allow the modification of mortgages in Chapter 13 bankruptcy.

There is a rumor that people cannot have their mortgage foreclosed on right now if they’re a resident of California. While there is some grains of truth to this story, the loopholes for this law that is effective in May are big enough to not make a difference to most people.

3rd Quarter update: Foreclosures are up 72% in Los Angeles County and 105% in Southern California, while SoCal home prices should fall in 2007 for the first time in a decade.

Has any society found more ways to get deeper into hock?

Many people believe that with the new bankruptcy law, Chapter 7 bankruptcy is no longer an option. They are wrong.

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» Central District of California Bankruptcy Attorneys' Association
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» National Association of the Consumer Bankruptcy Bankruptcy Attorneys

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