Category: Debt

Student Loan Volume is a Drag on the Housing Market

As outstanding student debt approaches $1 trillion, it’s one more reason record-low interest rates aren’t doing more to boost housing. The tighter lending standards that have emerged in the wake of the recession weigh particularly on younger, first-time home buyers. 9 percent of 29 to 34-year-olds got a first-time mortgage between 2009 and 2011; compared

Will Student Loans once again be Dischargeable in Bankruptcy?

In May 2011, a U.S. Representative from Tennessee introduced a bill called the Private Student Loan Bankruptcy Fairness Act of 2011. The bill proposes to make private student loans generally dischargeable in bankruptcy (like they were before the revisions in 2005) as a way of addressing the mounting student loan crisis. The bill proposes to

Will Student Loan Debt be the Next Bubble?

With student loan debt now topping U.S. credit card debt and few or no options available for distressed borrowers, America faces the very real possibility of another major economic threat. The threat that is on a par with the devastating home mortgage crisis. As bankruptcy attorneys, we have seen an increase in the last three-four

Do Black Americans Face Bias in Bankruptcy?

A study has found that blacks are twice as likely as whites to wind up in Chapter 13

Florida Supreme Court to Addresses Requirements for Voiding a Foreclosure Sale

A Florida state appeals court has asked the Florida Supreme Court to clarify what is required to void a foreclosure

The Debate Over Mortgage Principal Reduction

Mortgage principal reduction is an idea that could be helpful to or cause more default among borrowers. Some experts feel that widespread mortgage principal reduction may drive defaults much higher. Also, taking this step may tighten lending by forcing banks to offer “price protection” to borrowers. Moreover, the data shows there is essentially no difference

States Close to Settlement with Mortgage Servicers over Foreclosure Shenanigans

A draft settlement between the nation’s major banks and U.S. Attorneys General over deceptive foreclosure practices has been sent to state officials for

NFL Star Santana Moss' Lighthouse Point Home in Foreclosure

Washington Redskins receiver, Santana Moss, is in foreclosure for not paying the mortgage on his Lighthouse

2012 Expected to Bring a Modest Decrease in Housing Prices

The good news about the current housing market is that there is an abundance of inventory and affordability. However, the most recent numbers show prices steadily declined from October 2010 to October 2011. Overall, housing prices are lower than they were in October 2001. And, in some cities, prices are at their lowest level in

Beware the Impacts of the New "CoreScore" Credit Report

Beware the Impacts of the New "CoreScore" Credit