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January 2016 Archives

Defending Bankruptcy Lawsuits

Many people file for bankruptcy protection because they need relief from their creditors. A personal bankruptcy filing can be shelter from the harassing collection efforts of debt collectors. However, while rare, it is possible for a lawsuit to be filed against you in your bankruptcy case. This type of action is commonly referred to as an "adversary proceeding."

Why Loan Modifications are Better than Refinancing

If you are trying to decide whether to refinance or modify your mortgage, it is important to understand how each option works. Many homeowners are surprised to learn that they can modify their mortgage even when they are current on their payments. It isn't a common occurrence, but modifications (also called "recasts") of current mortgages have been available for years.

A Cautionary Tale: Lawsuits are an Asset of your Bankruptcy Estate

The U.S. District Court for the District of New Jersey recently held in Lewis v. Portfolio Recovery Associates, LLC, that a debtor's failure to list a lawsuit as an asset of his bankruptcy estate resulted in his loss of the right to claim violations of the federal Fair Debt Collection Practices Act (FDCPA) and the New Jersey Truth in Consumer Contract Warranty and Notice Act (TCCWNA).

Atlantic City & Trenton Top the Charts for Metro Foreclosures

According to RealtyTrac, the New Jersey metropolitan areas of Atlantic City and Trenton had the highest metro foreclosure rates in the United States for November of 2015. This is the fifth straight month that Atlantic City and its surrounding area have topped the charts for foreclosures. In fact, for every 307 homes in or near Atlantic City, there was a foreclosure filing in November, as compared to one in 1,268 nationally.

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