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December 2011 Archives

Difficulties continue for homeowners seeking loan modifications

For three years, Ohio homeowners have watched the news regarding the housing market collapse and the intense wave of foreclosures that followed. In 2009, the government announced the Home Affordable Modification Program that was intended to help more than 3 million distressed homeowners across the country to stave off foreclosure. Officials say only about a quarter of the intended beneficiaries have found relief through the HAMP program.

Trustee considers selling rapper Young Buck's name in chapter 7 bankruptcy

Students enrolled in English literature courses may not have thought Shakespeare's famous line "What's in a name" could possibly appear on a bankruptcy blog may be surprised. But the trustee in a chapter 7 bankruptcy case may find value in a name.

Ohio groups urge underwater mortgage relief

A new report, created in Ohio, is urging President Obama to write down all underwater mortgages as a way to stimulate the economy. Across the country, one out of every five homeowners owes more than their home is actually worth in today's housing market. The foreclosure crisis has struck hard, and experts expect foreclosures to continue to set records. This blog discussed underwater mortgages earlier this month.

Federal study: Home flipping a factor in foreclosure crisis

A new federal report sheds new light on the cause of the housing bubble that led to the massive wave of mortgage foreclosures in the nation. Cincinnati foreclosure and bankruptcy lawyers know that the housing crisis has affected consumers, even those who never owned a home, as the overall economy and job market to a hit in the wake of the financial collapse.

Are Ohio consumers choosing to pay credit cards over mortgages?

In the last post, this blog discussed the general trend in consumer's reliance on credit cards when making purchases. In recent years, overall credit card debt has seen a decline. More consumers are expected to use their credit cards during this holiday season, but that may not necessarily alter the trend in declining credit card debt, according to a recent report from TransUnion.

Studies: Credit card use, and debt, starts to rise again

Consumers all across the country have been reducing their reliance on credit cards for a number of years as the economy has struggled through the recession and its aftermath. Credit card debt can be a difficult animal to overcome for many Cincinnati area consumers, especially with the current state of the job market. Three new surveys, however, show that as the holiday season moves into full force, American consumers are turning to credit again to make purchases.

Bankruptcy trustee joins in seeking Supreme Court review of Ch. 13 case

The bankruptcy trustee in a chapter 13 case that has been appealed to the United States Supreme Court recently joined the request for the high court to review the issue. Although the bankruptcy case arose in a neighboring state, the appellate court ruling has a direct bearing on Ohio residents, as the ruling at issue was rendered in the U.S Court of Appeals for the Sixth Circuit, which governs in Ohio.

Options exist for underwater distressed homeowners

In the last post, this blog recounted the story of a family that attempted to get out of financial distress on their underwater home through seeking a short sale. Statistics vary, but all sources indicate that underwater mortgages are a continuing problem for a growing number of homeowners.

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Phone: 513-621-7902
Fax: 513-621-6402
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6020 Cheviot Road
Colerain, OH 45247

Phone: 513-621-7902
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