White House Vows To Tackle The Nation's Foreclosure Program
On behalf of Law Offices of Mark M. Kratter, LLC on January 28, 2012
The White House recently announced the creation of a new program that will hopefully help stem the number of foreclosure filings in Connecticut. The new program is called the Home Affordable Refinance Program and will hopefully allow more homeowners to refinance their mortgages before they are forced into foreclosure or short sales.
Foreclosures Set To Rise Drastically
On behalf of Law Offices of Mark M. Kratter, LLC on January 20, 2012
In our last post we discussed the drop in the national foreclosure rate and the importance of hiring a Connecticut foreclosure defense attorney if you have a delinquent mortgage or face hardship making your mortgage payments. More homeowners in Connecticut and around the country will face foreclosures in the coming year and the flood of these foreclosures is expected to depress the housing market.
Drop In Foreclosures Only Temporary, Experts Say
On behalf of Law Offices of Mark M. Kratter, LLC on January 14, 2012
Foreclosures have declined in to their lowest rates since the recession began according to new reports from the Associated Press. Although the number of foreclosures has dropped, 1.9 million homes still entered foreclosure in 2011. Foreclosure listing company RealtyTrac Inc. says that this is the lowest level of nationwide foreclosures since 2007.
Foreclosure Stress Linked To Illness
On behalf of Law Offices of Mark M. Kratter, LLC on January 12, 2012
Many Connecticut residents are painfully aware of the stress that can be associated with undergoing a foreclosure. Foreclosure can be an embarrassing and financially worrisome process, which is why it is important to contact an experienced foreclosure attorney who can help you stay in your home. Solutions such as lien stripping may help save a homeowner's properties and stop the foreclosure process.
Banks Illegally Harassing People Even After Personal Bankruptcy
On behalf of Law Offices of Mark M. Kratter, LLC on December 29, 2011
Bankruptcy is something most people don't take lightly. It is often used as a last resort to regain financial stability and get a start fresh. In the last fiscal year, approximately 1.4 million people filed for either Chapter 7 or Chapter 13 personal bankruptcy in an effort to stop creditor harassment and move forward from their past debts.
Mortgage Reduction Proposed For Those In Chapter 13 Bankruptcy
On behalf of Law Offices of Mark M. Kratter, LLC on December 21, 2011
Owning a home used to be an essential element in attaining the ideal American Dream. Now, it seems for many homeowners, their mortgage has made this once wonderful dream the American nightmare. Many people are struggling to make their mortgage payments, but now new relief could be on the way. A proposal currently being considered could help those in Chapter 13 bankruptcy reduce the total amount owed on their debt.
Mortgage Fraud Scheme Ends In Foreclosure And Imprisonment
On behalf of Law Offices of Mark M. Kratter, LLC on December 14, 2011
The United States Attorney for the District of Connecticut sentenced a Connecticut man to 18 months in prison late last month. The man was found guilty of orchestrating a $4 million mortgage fraud scheme that eventually resulted in foreclosure on several of his properties. Following his imprisonment, he will be required to undergo three years of supervised release.
Credit Card Debt Declining, With Possibility Of Future Spending
On behalf of Law Offices of Mark M. Kratter, LLC on December 08, 2011
Connecticut residents are gradually paying off their debt while showing an interest in spending more. In late November the New York Federal Reserve Bank said mortgage debt in the United States dropped from July to September. Consumer debt is 0.6 percent lower as compared to the second quarter, primarily due to a 1.3 percent drop in mortgage loan debt.
Orphaned Teen's Home Headed For Foreclosure
On behalf of Law Offices of Mark M. Kratter, LLC on December 02, 2011
Everywhere you look in today's economy, Connecticut families are losing their homes to foreclosure. Unfortunately, some families have no way of avoiding foreclosure, and their only chance for financial redemption is to file for bankruptcy protection. But other families may have options available that can help them keep their homes.
Connecticut Offers Relief For Those Facing Foreclosure
On behalf of Law Offices of Mark M. Kratter, LLC on November 23, 2011
Connecticut residents may be shocked to hear that in October, there was one foreclosure filing for every 1,127 households in the state. That grim statistic is nonetheless an improvement from last year, when foreclosure filings were about 38 percent higher. So although things are improving, too many residents are still seeking debt relief as they struggle with their financial obligations.
