Se habla Español • Si parla Italiano • Se fala Português • Hum Hindi bolte hain

foreclosure

Foreclosure Sale Of A Home Can Be Stopped By Bankruptcy Filing

Foreclosure is an ominous procedure in which a bank or other lender seeks to seize real estate on which it has a mortgage lien. In many cases, this can mean literally putting a family out of their home. It is a particularly frightening experience for some homeowners when the procedure gets to the point of an impending sheriff's sale. The good news is that in Connecticut as well as throughout the country, the homeowner can at least temporarily stop a foreclosure sale by filing a bankruptcy petition.

Connecticut Bill Could Help Speed Foreclosure Process

A new bill proposed by the governor of Connecticut may help owners struggling through the foreclosure process. The governor has leveled blame against bank mediators for often prolonging foreclosures, because banks do not often send the same mediators to meetings or do not ensure those mediators possess the legal authority to negotiate a deal with homeowners. The bill would force banks to send only qualified mediators allowed to enter a settlement with a homeowner.

Filing For Bankruptcy? New Program May Help Connecticut Residents

Connecticut homeowners with an underwater mortgage may soon see relief. March 1 begins a new program by Freddie Mac and Fannie Mae. The program will allow homeowners forced to stay in their homes because it isn't worth as much as they owe to move out and be relieved of their debt. This program could benefit those who are contemplating filing for bankruptcy.

Monthly Connecticut Foreclosure Numbers Down

Good news has been issued concerning Connecticut-area foreclosures. The rate in the Norwich area has decreased from the numbers reported in October of last year. However, many families are still affected by foreclosure and may feel like they are drowning in debt. When this occurs, several options exist including bankruptcy. Filing for bankruptcy or seeking other alternatives can help homeowners who may be struggling to keep their homes while still juggling other debts.

Connecticut Foreclosure Situation Shows Little Improvement

Foreclosure proceedings can be nerve-wracking and upsetting for homeowners in Connecticut and elsewhere. Although there is an expected bounce in the housing markets, some are speculating the crisis may not be quite over yet. Home sales across the nation in October reportedly reached a five year high, up 11 percent from 12 months ago.

Family Sues For Wrongful Foreclosure

Connecticut families in the midst of a foreclosure are aware of how emotionally and financially difficult the ordeal can be. One family who underwent a foreclosure recently is now suing the companies that were involved in the process. They claim the paperwork that documented who owned the mortgage was flawed, and they also allege violations of the Truth in Lending Act.

Roof Program May Decrease Connecticut Foreclosures

While some states are seeing lower numbers of foreclosure, Connecticut is turning out to be the opposite. Currently, the state has seen a foreclosure increase of 38 percent. In the south central region of the state, those numbers have increased a whopping 75 percent, from 481 foreclosures in 2011's first quarter to 851 in 2012's first quarter.

Foreclosure Relief May Be In Sight With New Industry Standards

Connecticut homeowners facing foreclosure may be interested in a recent headline about the housing crisis of 2007 and how mortgage servicers are attempting to clean up their acts. During the crisis, countless homeowners were subjected to messy processes that often resulted in serious damage, including inappropriate foreclosures Those currently facing foreclosure may now have more options, thanks to the federal government stepping in and beefing up industry standards.

Bank Of America Reaches Separate Foreclosure Deal With Government

Readers of this blog may recall a story about a large, multi-billion-dollar settlement that the attorneys general of 49 states reached with major banks across the country in regards to improper foreclosure practices. Recently learned, though, is that Bank of America has reached a separate deal as part of the overall foreclosure settlement that could reduce its penalties while providing substantial relief to thousands of homeowners. The deal could very well provide much needed help to homeowners in Connecticut.

Pages

Law Offices of
Mark M. Kratter, LLC

71 East Avenue, Suite K
Norwalk, CT 06851
Phone: 203-678-8135
Fax: 203-853-2317
Consultation Fee $50.00
Map & Directions

5 Star Reviews

The Right Law Firm for Your Case

Contact our office today to discuss your criminal charges with a highly skilled Connecticut criminal defense lawyer. We also represent clients in family law and bankruptcy law. We are available during regular business hours and by appointment in the evenings. You can contact us online or call 203-678-8135 to schedule a consultation.

The Law Offices of Mark M. Kratter, LLC, in Norwalk, Connecticut, serves clients throughout Fairfield County, including the communities of Norwalk, Stamford, Greenwich, Westport, Redding, Wilton, Bridgeport, Ridgefield, Weston, Fairfield, Stratford, Monroe, Milford, Newtown, Bethel, Danbury, Darien, Trumbull, New Canaan, Easton and Bridgeport.

Attorney Advertising | The information you obtain at this site is not, nor is it intended to be, legal advice. You should consult an attorney for individual advice regarding your own situation. All rights reserved. You may reproduce materials available at this site for your own personal use and for non-commercial distribution. All copies must include this copyright statement.

© 2024 by Mark M. Kratter, LLC. All rights reserved. Disclaimer | Site Map

Amex, Visa, MasterCard, Discover, TeleCheck
Credit Cards Not Accepted for Bankruptcy.

Strategic Legal Web