When we think of Middle Class America we think of stability, nice jobs, good neighbors and stellar careers; but middle class America is in crisis.  Many are facing foreclosure and are filing bankruptcy despite their degrees, high salaries and symbols of stability. In this three part series we will explore how and why middle class [...]

Despite claims that the recession has ended, foreclosures in the Dallas-Fort Worth area continue to rise. Rising job losses and prolonged unemployment are major factors contributing to the foreclosure crisis. More than 61,000 homeowners are facing foreclosure, an increase of 23 percent since 2009.  And despite efforts to slow the wave of foreclosures, most experts [...]

Unemployed homeowners facing foreclosure have been left out in the cold with the government’s foreclosure prevention program.  Since unemployment insurance benefits don’t provide enough income to cover most mortgage payments and many unemployed homeowners don’t qualify for mortgage modifications, many find themselves facing imminent foreclosure with absolutely no or very little negotiating leverage with mortgage [...]

Businesses not subject to means test
After announcing an influx of loans and financial support from various sources, including a $1 billion loan from Carl Icahn, CIT Group has officially filed for bankruptcy protection.  They are seeking protection under Chapter 11 bankruptcy which is designed for reorganization, not complete discharge of all debts.  In order to [...]

According to an article in the Dallas Morning News, Nokia Siemens Networks announced that it will implement 100 job losses in the Dallas area.  The company employs 900 Dallas residents and 64,000 workers worldwide. The job losses are a part of Nokia’s global reorganization designed to save more than $700 million by the end of [...]

Being buried in debt can put tremendous amounts of stress on any individual. Here are some tips for handling stress caused by debt:

Get help immediately.  If you see that you are drowning in debt and simply can’t pay, get some assistance.  Some creditors are willing [...]

According to an article in the Star-Telegram, unemployed workers may be worse off now than they were the last time the unemployment rate topped 10 percent in 1982.
The article said:
“Americans have more than triple the debt they had in 1982, and less than half the savings. They spend 10 weeks longer off the job. And [...]

There is a tragic story featured at the Dallas Morning News about a debtor who murdered his former co-workers after failing to receive an unemployment check.  Jason Rodriquez had recently filed bankruptcy; but not before his financial troubles sent him over edge.
The article said:
“Employees at Reynolds, Smith and Hills recognized their former co-worker [Rodriquez] when [...]

According to an article in the Star-Telegram, the home buyer tax credits have been approved and are expected to be signed into law by President Obama. For first-time home buyers (or anyone who has not owned a home in the past 3 years), legislators extended a tax credit of up to $8,000 which was originally [...]

According to an article in the Dallas Morning News, the unemployment rate has surpassed 10 percent for the first time since 1983.
The article said:
“The Labor Department said Friday that jobless rate rose to 10.2 percent, the highest since April 1983, from 9.8 percent in September. The economy shed a net total of 190,000 jobs in [...]

According to an article in the Star-Telegram, some legislators are pushing mandatory mediation to resolve lender/borrower foreclosure disputes. Will it work in Dallas-Fort Worth?
The article examined the case for it in Florida:
“Florida’s courts are currently trying to cope with more than 290,000 foreclosure cases… A majority on the high court’s Task Force on Residential Mortgage [...]

According to an article in the Star-Telegram, workers have rejected contract changes that would have allowed Ford Motor Co. to cut labor costs and remain competitive with Chrysler and GM, both of which recently emerged from bankruptcy.
The article said:
“Ford sought the deal to bring its labor costs in line with Chrysler Group LLC. and General [...]