The housing bubble that burst in 2008 has yet to recover, continuing to shackle millions of Americans with upside down loans and astronomical monthly payments. Faced with abandoning their homes, many homeowners have very few options. One solution many turn to when they are unable to make payments on their home is foreclosure. In foreclosure, the homeowner effectively gives up ownership of their home allowing their lender to sell the home to the highest bidder in order to recoup on the investment. However, other individuals turn to bankruptcy to avoid foreclosure all together. View full article »
Tag Archive: Los Angeles bankruptcy attorneys
Some of the largest misconceptions people have about bankruptcy involve the implications that filing has on your future. Some people wonder whether they will ever be able to own a credit card, car or home again after filing. So, for the curious, here is the truth: you can obtain any of these things. While the process may not be easy, you can get through it. More than likely, credit is going to be difficult to get for three to five years without paying high interest rates. A credit card might be a good option in order to build credit, but there are other ways to prepare for home and car ownership that don’t involve the risk and cost of high interest cards. Here are two practical ways to get started on the right foot after the fresh start of bankruptcy. View full article »
