In the first quarter of 2022, the Maryland Department of Housing and Community Development reported an increase in foreclosures over the previous quarter of 32.8%. This is bad news for homeowners, especially if they are struggling to make ends meet. If you get notice...
Year: 2023
Does bankruptcy stop the foreclosure process?
The prospect of losing a home due to financial difficulties is a distressing reality for many homeowners. In January 2023, nearly 32,000 U.S. properties had foreclosure filings, according to real estate data company ATTOM. Individuals facing foreclosure often wonder...
How to prepare yourself for a home loan modification
The thought of losing your home due to financial difficulties can be daunting. A home loan modification might be the solution to your problem. Home loan modifications can help you reduce your monthly mortgage payments, making them more manageable. The Federal Housing...
Home loan modification scams to watch for
If your mortgage payments have become to be more than you can handle financially, you consider doing a home loan modification. In a modification, the bank works with you to modify the terms of your existing loan, typically by extending how long you have to repay the...
Why working with a debt settlement company is risky
Many people living in Maryland feel uneasy due to mounting debt, and if you include yourself among them, you may be looking for a way to help dig yourself out and get back on your feet. Be wary, though, of signing on to work with a debt settlement company, because...
Reclaiming your life through bankruptcy filing
Financial problems can occur to anyone, at any point in life. It can be overwhelming, lead to sleepless nights and take away your peace of mind. If you find yourself struggling with insurmountable debt, you might be considering filing for bankruptcy. Bankruptcy can be...
4 FAQs about home loan modifications
For many homeowners in Maryland, managing mortgage payments can sometimes be a struggle, particularly during financial hardships. In such cases, a home loan modification can provide a viable solution. You may have several questions about how home loan modifications...
How to rapidly reduce your credit card debt: 3 tips
If you and your family struggle with credit card debt, you are not alone. Millions of Americans overspend on credit, according to Bank of America, but you need not struggle by carrying burdensome payments month to month. Paying down your credit card debt requires...
Understanding the Chapter 7 bankruptcy process
The Chapter 7 bankruptcy process offers individuals a fresh financial start by discharging eligible debts. To navigate this process successfully, you need a clear understanding of the key steps involved. Prepare and file the bankruptcy petition The first step in the...
Does filing for bankruptcy lead to the loss of your home?
When your finances begin to spiral beyond your control in Maryland, you may start looking for ways to reestablish financial stability. Depending on how much debt you find yourself in and how much income you have, filing for bankruptcy may help you accomplish this...