Foreclosure Predictions in New York

With foreclosure filings falling in July of 2012 for the 22nd month in a row, the housing market appears to have taken a turn for the better.

2013-01-09

January 09, 2013 (Press-News.org) Foreclosure predictions in New York

With foreclosure filings falling in July of 2012 for the 22nd month in a row, the housing market appears to have taken a turn for the better. RealtyTrac found that in July, the filings were down 10 percent from the same month last year. Although this information is encouraging, some experts remain skeptical based on a deeper dive into the numbers.

The earliest stage of foreclosure has actually risen six percent on a year-over-year basis. July saw the third straight month for this increase. This latest wave of foreclosures has come after the banks received new guidelines for handling the foreclosure process. These banks are now gaining confidence and processing filings they had previously delayed.

Chapter 13 bankruptcy option

If someone is under the threat of foreclosure, he or she needs to act quickly and legally to have a chance to save a home from foreclosure. A Chapter 13 bankruptcy filing can meet that need. Filing for a Chapter 13 bankruptcy allows people to reorganize their finances and negotiate payment plans.

Unlike Chapter 7 bankruptcy, unsecured debts are not wiped out immediately. Rather, repayment plans are set in place based on what the person is able to currently afford. Secured creditors are paid first, and then unsecured creditors are paid in an order set by federal law. If a debtor completes all payments under the payment plans, any unsecured debts left over may be discharged. With this setup, more families may be able to avoid the foreclosure process.

Although bankruptcy has historically carried a negative stigma, this is no longer automatically the case. In difficult financial times, bankruptcy might be the only real option some people have. For many, it is the fresh start they need -- and deserve.

Assistance in bankruptcy law

Filing for a Chapter 13 bankruptcy can be challenging, especially to someone who unfamiliar with the topic. When this is the case, obtaining the help of an experienced New York bankruptcy attorney is wise. These attorneys know the federal and state laws that will apply and have experience handling similar cases.

It is important to find attorneys that will take the time to sit down with their client and listen to everything that they have to say. Armed with all the facts, attorneys are best able to achieve the most positive outcome.

No person has to face the foreclosure process alone. Everyone has options, and a bankruptcy attorney will be able to discuss them all and help choose the best course of action. Having that initial meeting with a bankruptcy attorney can make all the difference and lead a person towards a better financial future.

Article provided by Chamberlain D'Amanda
Visit us at http://www.cdogbankruptcylaw.com/

ELSE PRESS RELEASES FROM THIS DATE:

Green Building Construction Poses Higher Risk of Defects Litigation

2013-01-09

Green building construction poses higher risk of defects litigation Green construction projects such as wind turbines, LEED certified buildings and a host of other green ventures are becoming more commonplace. According to the Dodge Construction Green Outlook report, created by McGraw-Hill Construction, this trend will continue in the next several years. The report predicts that green home construction and renovation will account for almost 40 percent of the industry in 2016. For green commercial construction, the outlook is even better, and green construction is expected ...

Minnesota Forms Task Force to Review State's Civil Commitment Programs

2013-01-09

Minnesota forms task force to review state's civil commitment programs This fall, a new 15-member panel met for the first time to review Minnesota's civil commitment programs. Now, the Sex Offender Civil Commitment Task Force has issued its initial report to Human Services Commissioner Lucinda Jesson with recommendations on how to improve the state's civil commitment programs. The need for a civil commitment task force The task force was created after the state's civil commitment policies were challenged by a class-action lawsuit that claimed the state's policies ...

Warm Weather Is A Mixed Blessing For Motorcyclists

2013-01-09

Warm weather is a mixed blessing for motorcyclists Nebraska motorcycle riders certainly enjoy those extra days of riding that come with milder autumns, springs and winters. Unfortunately, along with longer stretches of good riding weather come a rise in motorcycle accident fatalities. Motorcycle death total surpasses past year As of early October 2012, 23 people had died on Nebraska roads in motorcycle accidents. The latest was a man whose bike collided with a deer in Washington County on U.S. Highway 75. With almost a quarter of the year to go, the death toll ...

Bill Aims To Extend Federal Copyright Protection To Fashion Designs

2013-01-09

Bill aims to extend federal copyright protection to fashion designs For artists and creative professionals, copyrights are invaluable tools. Copyrights protect original intellectual works -- like songs, literature, drama or art -- from unauthorized use or reproduction. If a copyright is infringed, the holder can sue for damages. Copyright protection is automatic and starts at the time the work is created. Not every creative work qualifies for copyright protection, however. Fashion designers, for example, aren't allowed to copyright their clothing designs. If another ...

Zynga Leak Highlights Need To Protect Trade Secrets

2013-01-09

Zynga leak highlights need to protect trade secrets At any business, a certain amount of turnover is a fact of life. Good employees will leave the company, either to start their own venture or to take a better opportunity elsewhere. When this happens, it is crucial for the business to take steps to protect its trade secrets. An example of the importance of protecting trade secrets can be found in a recent lawsuit involving California-based social game developer Zynga. It is suing one of its former general managers, claiming that he misappropriated sensitive information ...

More Innocent Spouses to Get Tax Relief from IRS

2013-01-09

More Innocent Spouses to Get Tax Relief from IRS In many families, one of the spouses is responsible for handling the finances. One spouse may do all of the work filling out a joint tax return for the spouses and the other party signs it, trusting that his or her spouse calculated everything correctly. However, some people improperly complete tax returns, either intentionally or inadvertently, and they end up paying less in taxes than they would have owed, had they done everything as they should have. In such cases, the spouse who did not fill out the tax return may ...

Advantages of Creating a Living Trust in New Jersey

2013-01-09

Advantages of creating a living trust in New Jersey New Jersey residents may wonder if designing a living trust is worth the cost and effort. New Jersey estate planning normally involves creation of a will. A will may or may not create a trust at the time of death. People usually create a revocable trust, also called a living trust, in order to avoid probate. The probate process involves determining if a will is properly executed and appointing an executor to act on behalf of the estate. A living trust is created during the lifetime of the beneficiary, as opposed ...

Avoid Common Mistakes When Telling Children About Divorce

2013-01-09

Avoid Common Mistakes When Telling Children About Divorce Making the decision to divorce is rarely easy, particularly when there are children involved. Many parents struggle with how to discuss divorce with their children, wondering what the best way to tell the children is and how children will handle the news. Parents going through a divorce should be aware of some of the mistakes parents often make when talking about divorce with children so they can avoid making those errors. Not Telling Children Together Experts agree that it is important for parents to tell ...

The Financial Implications of Legal Separation and Divorce in New York

2013-01-09

The Financial Implications of Legal Separation and Divorce in New York Sometimes when a couple is having trouble in their marriage, they may choose to legally separate rather than get a divorce. When a couple legally separates, they remain married but live apart as though divorced. People choose legal separation over divorce for a variety reasons. Some people use legal separation as a trial period to see if they really want to divorce. Other couples may choose separation because their religious beliefs or family upbringing forbid divorce, while still others do so because ...

Combat-related Brain Injury Symptoms May Last Years, Study Finds

2013-01-09

Combat-related brain injury symptoms may last years, study finds Concussions and other traumatic brain injuries were once thought to resolve themselves on their own with little need for medical intervention. However, new research on the long-term effects of combat-related head trauma shows that, for many veterans, the symptoms of traumatic brain injury can persist for years with little improvement. What is traumatic brain injury? Traumatic brain injury, or TBI, occurs when a blow to the head causes interference with the normal functioning of the brain. Many TBIs ...

Wiley advances Knowitall Solutions with new trendfinder application for user-friendly chemometric analysis and additional enhancements to analytical workflows

Foreclosure Predictions in New York

ELSE PRESS RELEASES FROM THIS DATE:

LAST 30 PRESS RELEASES: