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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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5 things you need to know about Lehman Brothers

On Sept. 15, 2008, Lehman Brothers, one of the biggest investment banks in the world, filed for bankruptcy. How did it happen, and how did it affect the economy? Here's what you need to know: 

1. What’s Lehman Brothers, anyway? Before filing for bankruptcy in September 2008, Lehman Brothers was the fourth-largest investment bank in the U.S. (Goldman Sachs, Morgan Stanley and Merrill Lynch were first, second and third, respectively). It was founded in 1850 and did business for 158 years. Internationally, 25,000 people were working at Lehman Brothers at the time of its collapse. 

2. So what happened? By 2004, Lehman had acquired five mortgage lenders, including BNC Mortgage, a subprime lender. Lehman invested even more in securitized mortgages over the next few years, more so than any other firm. Lehman’s big investment in mortgage securities made it especially vulnerable as the housing market started to crash. Lehman Brothers started to correct course, but it was too late, it didn’t have the capital cushion to absorb its losses and its stock price continued to plunge. Lehman was forced to file for bankruptcy on Sept. 15, 2008. The firm held more than $600 billion in assets, and it remains the largest bankruptcy in U.S. history.

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.