If you are like millons of Americans you are seeing the glimmers of evidence that the economy is turning around. The three years the nation has suffered under the failing economy has tested the financial planning abilites of most households. However, as you face your future and decide upon financial directions to travel, [...]

According to Mortgage Bankers Association, over the past two years, 1 in 6 homes in the US have experienced mortgage distress as a result of the nation’s economic crisis, which was spurned by the housing market collapse. President Obama’s newly inaugurated administration made the housing crisis a priority and issued a loan modification program [...]

The decision to file for bankruptcy is a tough one for the homeowner, but a choice millions of Americans are making each day as a result of the collapse of the housing market. While contemplating bankruptcy, the major concern of the homeowner is what happens to the home after filing. However, depending on the choice [...]

Americans are considering bankruptcy at a nearly unprecedented rate. In addition, there is a growing consideration of a “hardship withdrawal” of 401k retirement accounts in a last effort to access cash necessary to meet financial obligations and possibly avoid a personal bankruptcy. However, the penalties and taxes charged for prematurely tapping of these pension funds [...]

Wednesday, the US senate passed a bill that would make it easier for “risky” credit homeowners to refinance into a lower interest rate mortgage, insured by the government. The measure to allow bankruptcy judge to rewrite the mortgage terms on a primary home for bankruptcy filers failed on a [...]

The financial markets stand to benefit the most when the housing market recovers. The House of Representatives passed a new bankruptcy provision that will allow bankruptcy judges the ability to modify the mortgage terms of a bankruptcy petitioner’s primary home loan to avoid foreclosure. This provision would serve as a last option tool [...]