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Bankruptcy May Not Be Best Option for Unsecured Mortgage Lenders
http://www.sbwire.com/press-releases/bankruptcy-may-not-be-best-option-for-unsecured-mortgage-lenders-398837.htm
Many times in cases of mortgage lenders, bankruptcies can end in lieu of a short sale. Short sales can save the lender the time and expense of foreclosing, as well as the cost of maintaining and marketing the property once it is owned by the lender. In

Family with €600000 debt first to get write-off deal
http://www.independent.ie/irish-news/family-with-600000-debt-first-to-get-writeoff-deal-29949084.html
Family with €600000 debt first to get write-off deal Mr O'Brien would not say how much of the buy-to-let mortgage debt was written off but he indicated that most of the unsecured loans will be wiped if the family sticks to the six-year agreement. He said he charged €5,000, plus VAT of 23pc, for the deal.

The Tale of the $8 Million 'Bargain' House in Greenwich
http://dealbook.nytimes.com/2014/01/25/the-tale-of-the-8-million-bargain-house-in-greenwich/
He was forced to declare bankruptcy in 2010, unable to afford his $66,000 a month mortgage or the $25,000 monthly upkeep. According to his filing, Mr. Fuscone Some houses move, real estate brokers say, others do not. But given that Mr. Fuscone is

Ally CEO Sees IPO Road Show in the First Half of This Year (1)
http://www.businessweek.com/news/2014-01-25/ally-ceo-sees-ipo-road-show-in-the-first-half-of-this-year-1
Ally Financial Inc., the auto lender bailed out by the U.S. government, may start a road show for an initial public offering as soon as this quarter as the U.S. Treasury looks to shed its ownership, according to its chief executive officer. The

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Editorial: After the Lehman Bros. bankruptcy - Opinion - MetroWest ...

Ten years ago last Saturday, one of the country's most influential Wall Street firms - the investment banking giant Lehman Bros. - declared bankruptcy, triggering a collapse in credit markets that tanked not just the U.S. economy, but those throughout the industrialized world. The result here was the deepest recession in eight decades, one whose effects are still felt by many Americans today.

Some argue federal regulators could have found a way to keep Lehman alive. But even if they had, the problems caused by toxic housing-finance investments - subprime loans that were packaged and repackaged into securities of increasingly dubious and obscure value, along with derivative securities and vital short-term financing arrangements pegged to those packages - were large and metastasizing. The credit markets were bound to crumble eventually.

Plus, public sentiment at the time was running strongly against the federal government bailing out Lehman the way it had rescued Bear Stearns, Fannie Mae and Freddie Mac earlier that year.

Bankruptcy Trustee Sues Feds, Lenders Over ITT Loans

Reported .

Deborah Caruso, the trustee, argued in a court filing last week that the department failed to adequately act to protect students from the loan program, which allegedly preyed on low-income students. Two years ago, ITT shut down its 130 campuses, which enrolled 43,000 students at the time. The company had been facing serious financial stress, sanctions from the department and a wide range of investigations and lawsuits.

"ITT’s PEAKS Loan Program was a for-profit education version of the sub-prime mortgage lending catastrophe, in which students rather than new homeowners were the victims," Caruso said in the filing. "For the benefit of ITT insiders and defendants, the PEAKS Loan Program allowed ITT to defraud students and evade regulators, while shielding the fruits of ITT’s fraud from claims of students through a complicated structure involving multiple trusts and a circuitous flow of funds between ITT and defendants. After ITT paid hundreds of millions to defendants, and millions to insiders, there was little or nothing to pay $1.5 billion in student claims, U.S. Department of Education claims, or claims of other creditors."

if you file bankruptcy, are mortgage lenders more or less likely to work with you for a modification?

in filing chapter 13 bankruptcy, are mortage lenders more or less likely to work with you to get a home modification.


I am a bankruptcy legal assistant and within the past year this issue has come up almost daily. We always tell clients to apply for a loan modification. At most mortgage companies, they require you to be at least 3 months behind on your mortgage.