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^?#$%! and the Mortgage Crisis

A note to the loyal readers of this blog (all three of you): the following post is rated PG-13. We all have not-so-fond memories of the mortgage crisis.  Home values collapsed, the investors who bought these mortgage-backed securities blamed one another, and Uncle Sam...

Addition and Subtraction

Bank of America recently announced that it would be forgiving the second mortgages of some 150,000 “pre-qualified” homeowners.  Of course, this is fantastic news if you are one of the bank’s hand-picked distressed borrowers.  But what if you were not lucky enough to...

Negative Equity and Social Darwinism

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Top Three Signs that You Need to File Bankruptcy

1.  You are more than 1 month behind on your rent To take full advantage of bankruptcy laws and the automatic stay, you need to file for bankruptcy (either Chapter 7 or Chapter 13) before the landlord files an eviction suit.  If a lawsuit is filed, the landlord may be...