Many first time homeowners look for the right real estate agents to help them identify and shortlist properties and negotiate transactions with the seller. Although it is not the wrong approach, the primary role of an agent includes the sale and purchase of an asset alone. However, there have been various cases when homeowners have found themselves in legal disputes, either with the seller, or mortgage lender, which has resulted in foreclosure or revocation of the sale.
In such circumstances, it is important to seek support from an experi... Read more
A bankruptcy can be used to get debt canceled or repay creditors, while providing filers with a fresh start in minimum time. An individual who has medical bills, credit card debt, or personal loans that need to be paid off, maybe because your median income is below your state’s defined income, can file for chapter 7. In order to qualify, you cannot previously have sought bankruptcy relief.
Seeking guidance from an bankruptcy attorney can help you receive a chapter 7 bankruptcy discharge in a timely and orderly manner.
Advantages of Chapter 7 ... Read more
Foreclosure can happen because of an inability by an owner to repay mortgage debts and loans on time. Because foreclosures can have a negative effect on the credit score of a homeowner, many seek foreclosure defense to get extra time to repay their loans or get loan modifications to stop a foreclosure. If you are sure foreclosure is likely, you should seek a skilled foreclosure and real estate attorney to help you present a solid defense.
Short sales can be used to increase the financial position of a debtor. Under a short sale, the... Read more
Your Bankruptcy and Credit Score
Declaring bankruptcy is a difficult and challenging decision because it comes with several repercussions and financial instability. Declaring bankruptcy will immediately have a negative effect on your credit score. However, when you are facing financial turmoil, declaring bankruptcy under Chapter 7 or Chapter 13 is a better option than continuing to accumulate debt. You will need a competent bankruptcy attorney to help you file for bankruptcy in Elgin, IL.
Your Credit Score Will Improve Over Time
As the economy ... Read more