… sale of the historic Ridglea Theater to FixFunding through a process called “deed in lieu of foreclosure.” Using the “deed in lieu of foreclosure” process will allow the debtor to return the property to the lender, avoid foreclosure and escape the loan default.  The Maulsby Trust, which owned the theater, filed for Chapter 11 bankruptcy in July after FixFunding posted the property for foreclosure. But during the bankruptcy proceeding, another buyer came forward to purchase the …

Tags: Avoid Foreclosure Chapter 11 Bankrutpcy Ridglea Theatre

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… In every disaster there are those who look for opportunities to take advantage of the vulnerable. Foreclosure brings out scammers looking for opportunities.

When you are facing foreclosure and looking for help to avoid foreclosure, you need to be careful. There are many out there just waiting to pounce upon you and take advantage of your misfortune. They advertise themselves as foreclosure rescuers or experts. Before you can realize what’s happening, they will acquire your home for a …

Tags: foreclosure scams

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… many homeowners thought they would finally have access to modification tools that would help them avoid foreclosure. However, HAMP has failed to deliver on its promises and many view the $75 billion invested in the foreclosure prevention program to be a waste while others say the program is a modest success at least.

Yet after its first 11 months, HAMP is lagging. Of 1.7 million cases thought to be eligible in the first year, only 116,000 have received permanent loan modifications …

Tags: Bankruptcy foreclosure HAMP Mortgages

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… About one in every 10 Texas homeowners are delinquent on their mortgage and facing a possible foreclosure.  Currently, the percentage of Texas homeowners who are delinquent and facing a possible future foreclosure is 10.3 percent, only slightly less than the national average of 10.44 percent.  Last year, a record 61,000 homeowners in Texas lost their home to foreclosure and that number is feared to increase this year.  Many analysts and “experts” lament the current foreclosure …

Tags: Bankruptcy foreclosure

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… oldest skyscrapers, the 52-story Elm Place tower at 1401 Elm Street, is closing down due to a foreclosure and an extremely low occupancy rate.

[Guerrino] Savio [who represents the owners] said occupancy in the office tower had fallen to about 20 percent last year and has recently gone even lower.

“It got to the point it was impossible to keep operating,” he said. “For every dollar in rent we receive you have to spend five dollars in expenses.”

Now the …

Tags: dallas Elm Place Tower foreclosure

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When facing an imminent foreclosure, a homeowner who can no longer afford his/her home is faced with many difficult decisions.  One of the most important decisions will be whether the homeowner should do a short sale or file bankruptcy.  Here are a few questions you should ask yourself when deciding to do a short sale or file bankruptcy?

Do you have other debts that you cannot afford to pay?  Most …

Tags: Bankruptcy Debt foreclosure Save Your Home Short sale

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… Four Seasons Resort in Irving, which hosts the annual Byron Nelson golf tournament, is facing foreclosure.

In 2009, more than 2,400 commercial properties were posted for foreclosure in the Dallas- Fort Worth area, but none of the foreclosures were nearly as large as the Four Seasons Resort in Irving.  The property, well known for hosting the annual Byron Nelson golf tournament, was posted for foreclosure last week.

The bank at the center of the foreclosure is U.S. Bank …

Tags: Bankruptcy Bentley Forbes Byron Nelson foreclosure Four Seasons Recession Texas Bankruptcy

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Many homeowners misunderstand foreclosure. They believe that foreclosure begins when the bank decides to send out a notice and begin the process of auctioning off their home. But in reality, the foreclosure process begins at your first missed payment.  When you miss your mortgage payment you are already on the road to foreclosure and that is when you need to act to avoid it.

Foreclosure does not …

Tags: Bankruptcy foreclosure Mortgage

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Million dollar homes are beginning to feel the sting of the foreclosure crisis.  According to a recent report the number of million dollar homes hit with foreclosure has jumped 24 percent since last year. And while homeowners in lower-priced homes (under $250,000) are still the primary victims of foreclosure, the numbers higher-end homeowners facing foreclosure in Dallas- Fort Worth are on the rise. One of the reasons for the rise in foreclosures …

Tags: Bankruptcy foreclosure Millionaire Texas

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… rates and fees are astronomically high, most debtors experience “payment shock” and may try to avoid paying them when the bill is due. So to protect their interests in the loan, payday lenders are now using voluntary wage assignments to increase their chances of getting paid.

How It Works

A voluntary wage assignment works just like a wage garnishment, except that the debtor has agreed to it. If a debtor defaults on the payday loan, the lender can then garnish the debtor’s wages …

Comment author: Voluntary Wage Assignments and Why You Should Avoid Them At All … | health | by health

Comment by Voluntary Wage Assignments and Why You Should Avoid Them At All … | health | by health: … and Why You Should Avoid Them At All … [...]

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… 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 fear that the problem is worsening. The foreclosure prevention programs have proven ineffective as mortgage lenders struggle with a backlog of distressed homeowners, many of whom succumb to foreclosure while they are …

Tags: Dallas Foreclosure Fort Worth Foreclosure Mortgage

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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 …

Tags: Barney Frank Emergency Economic Stabilization Act of 2008 foreclosure Loan Mortgage

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