Archive for October, 2008

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Real Estate Expert Tips Videos

Monday, October 27th, 2008

We are happy to be able to share a YouTube series on real estate tips and advice, I hope you can visit this site often and stay tuned, their is a long series of these real estate tips and advice. These videos offer a variety to the many articles you read on the topic on various popular real estate and business sites. We thought we would offer an alternative to watch some videos anytime you want to watch them. Visit this page often to see them. Thanks for your support of the site and I hope you enjoy the expert advice that you get.

Watch the latest videos on YouTube.com

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Total Personal Bankrupticies Filed On the Rise

Monday, October 27th, 2008

Total Personal Bankrupticies Filed On the Rise

Have you read this article about personal bankruptcies on the rise?
http://money.cnn.com/2008/10/24/pf/bankruptcy_filings/index.htm?postversion=2008102711

It talks about 2008 approaching the 1 million mark for filings.  In 2005 they tried to reduce filings by making tougher guidelines.  Now with the housing downturn and economic meltdown, they are on the rise again as I am sure that’s no surprise.  As more file for experts are predicting the numbers to only get worse.

The article states “The Abuse Prevention and Consumer Protection Act, which took effect three years ago this month, increased restrictions for filings by applying a “means test” which would disqualify many consumers with higher incomes from discharging their debts.”

The experts are saying that bankruptcies became more complex with extra counseling and more paperwork added on.  Rising consumer debt with the mortgage meltdown in the main cause for the rise in bankruptcies.  It’s expected that by 2008 we could see 1.2million filings.  Another 15-20% increase next year due to inflation outpacing incomes.  This article discusses how many people went for and how many went for the option.

If you feel that you owe too much on your house and you have had to file or are considering filing and need to work with a foreclosure home or a home you owe too much on at the same time, this can be a complicated matter and you should see the advice of a professional.  I can offer a 3rd party negotiator to work with your bank on the short sale and foreclosure sale of your home, and they can direct you to an attorney to help you with the part of you may also have your own attorney.  often can slow down foreclosure, but not stop foreclosure, so please contact us if you have a house to sell that you have fallen behind on, I recommend you read our Minnesota short sale homes article for more information.

Watch the latest videos on YouTube.com

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