With the recession and sluggish economic recovery, many New Jersey homeowners are still finding themselves underwater on their mortgages -- with little relief in sight. And since a state court put an end to the unofficial moratorium on foreclosures in August, experts...
Year: 2011
Family tries to stop foreclosure after bank surprise
With a wave of foreclosures flooding the state of New Jersey, people get used to hearing the same types of stories. Situations such as surprise medical bills, lost jobs and the end of unemployment benefits can all lead to hardworking families losing their homes. What...
Shopping center failure leads to personal bankruptcy for developer
Bankruptcy proceedings have had their impact on shopping center development over the past five years. The crumbling of the mortgage markets, together with the recession and the threat of another one, has placed some investors in precarious positions. The scenarios...
Bankruptcy precursors: college and marriage?
The recession seems to have caused a dramatic shift in dynamics when it comes to the demographic of Americans filing for bankruptcy. According to a recent report, married couples and people with college educations make up a large chunk of those filing for bankruptcy....
‘Housewives’ star allegedly untruthful in bankruptcy claim
When filing for bankruptcy, it is of the utmost importance to be truthful in disclosing your debts, as well as your assets as "Real Housewives of New Jersey" star Teresa Giudice has found out. The television star has found herself in a tough situation by not...
Debt and bankruptcy lead to national debt forgiveness?
A recent CNBC news report has provided some food for thought for New Jersey residents and people all over the United States. The subject is debt. With growing numbers of Americans facing bankruptcy and in need of debt relief, the highlights of the story may prove a...
New Jersey homeowner led in circles by mortgage lender
It's tough to keep your house in New Jersey when you are experiencing financial difficulty and cannot seem to get the bank's attention. Many New Jersey homeowners are wallowing in debt and depend on mortgage modifications to stop foreclosure. However, banks are...
Foreclosures to resume in NJ – safeguards in place
As if things weren't already rough enough for struggling homeowners, New Jersey courts have now delivered a crushing blow. Acting on requests made by four of the country's largest banks, a judge has permitted resumption of home foreclosures in the state. One of the...
Even reality TV stars file for bankruptcy
With the national economy still ailing and so many people out of work, West Caldwell residents have been hearing a lot about bankruptcy recently. But it is not just your friends and neighbors who are filing - the economic woes of the past few years have hit people of...
Devising a financial management course for business success
Bankruptcy protection, such as a reorganization plan under Chapter 13 of the Code, may well give an individual or business breathing space to devise a strategy acceptable to creditors for repayment of obligations and continued operation of the business. However, other...
