For example, health problems and disability contributed to
half of all home foreclosure filings and over 60 percent of all personal bankruptcy filings.
Job losses,
thousands of home foreclosures and depleted health services have been lingering in the minds and lives of residents over the last few years.
The
experience of home foreclosure is difficult enough to endure without the headache of being held liable for federal income taxes assessed against the amount of money the forgiven debt represents.
The number
of home foreclosures in Cortland County is continuing to climb.That's according to a report from the State Comptroller's Office.
Spitzer and Cuomo announced key initiatives that their respective offices are taking to address the rising
rate of home foreclosures.
Divorce Corp. (Unrated) Legal system expose» highlighting how more money flows through the divorce courts annually than through all other U.S. courts combined, thereby taking a toll on the litigants in the
way of home foreclosures, bankruptcy, suicide and violence.
March 31, 2014 • Steve Inskeep talks to Gary Silverman of the Financial Times about a real estate fraud scheme that helped make Bakersfield, Calif., one
of the home foreclosure capitals of the country.
We recently found out that thanks to a settlement from Bank of America, LFW is going to receive approximately $ 6.9 M for the
purpose of home foreclosure prevention and community redevelopment legal aid.
And disability actually, there's another study that Harvard Medical School did a few years ago looking at the
causes of home foreclosures and personal bankruptcy filings, and behind over half of them was extended illness, right?
And consider these facts: medical bills are the biggest cause of bankruptcies in the US and medical problems are behind
half of home foreclosures.
Many people have mentioned that there are still big write downs to come in the industry — largely as a result of the commercial real estate problems, growing number
of home foreclosures, and the Option ARM and Alt - A resets that lie ahead.
As mentioned earlier, about 48 %
of all home foreclosures are as a result of disability.
The number
of home foreclosures is higher than it has ever been — up 57 % from January 2007.
According to Lawrence Yun, chief economist of the Realtors» group, the number
of home foreclosures may rise to 2.5 million this year and that would be the highest since keeping records of home loan defaults.
Unfortunately, its release could not have come at a worst time; with California one of the worst sufferers from the economic crisis (and home to a staggering number
of home foreclosures), it will be tough going trying to get the legislature to act on the findings.