… Killed Me” the starlet reportedly said that she is even struggling to pay the mortgage on her Los Angeles area home. Could there be a foreclosure in her future?

I know many of us don’t believe some of our favorite celebrities could be facing foreclosure, bankruptcy and other financial problems like us “mere mortals” but the truth of the matter is that often financial problems are exacerbated once someone becomes famous. In the case of Lindsay Lohan, her celebrity status seems to …

Tags: Bankruptcy Celebrity Lindsay Lohan Los Angeles

… agents, whom they believe defrauded them and did nothing to help them keep their home in a Los Angeles suburb from going into foreclosure, prosecutors said.”

The two loan agents claim they were held for hours, beaten with wooden knuckles and threatened with a gun.  Both men have been treated and released from a local hospital. The suspects are facing prosecution.

This story is a truly sad and tragic one.  Most homeowners facing foreclosure don’t turn to violent means; but …

Tags: foreclosure Loan Los Angeles Mortgage Violence

… The article said:

“…NLC research director Christopher Hoene warned that cities including Los Angeles, Dallas and Chicago have explored cuts to public safety as a way to cope with future budget shortfalls.

“The worst of the recession’s impact for cities still isn’t here yet. We’ll be feeling it in 2010 and 2011,” Hoene said. “That means service cuts and quality-of-life changes that define who you are as a city.”

“A steep drop in property tax revenues has had a …

Tags: Dallas-Fort Worth foreclosure Los Angeles Texas

Dr. Conrad Murray, the cardiologist who reportedly was in Michael Jackson’s Los Angeles mansion when the entertainer collapsed, is reportedly facing a litany of financial (and legal) problems. Most recently, the doctor who is accused by many of failing to properly care for Michael Jackson, was declared in default on a $132,000 debt related to office medical equipment and services and his home in Las Vegas may be facing foreclosure. However, Dr. Murray’s problems …

… April 2004 when his 1992 Dodge Dakota pickup rolled over him while he was working at the Port of Los Angeles. The family alleged that the Chrysler truck had a defective transmission that allowed it to slip from park to reverse, resulting in the fatal head injury for Mraz. A Dodge Dakota pickup truck recall was issued in 2000 to fix the defect, but the Plaintiffs said that the fix did not work.”

The settlement is the result of the new Chrysler refusing to accept exposure to personal …

… just changed the script and changed the product we were selling,’ said Mr. Soussana, who ran the Los Angeles sales office of Federal Loan Modification Law Center.  The new script:  You got a raw deal, and ‘Now, we’re able to help you out because we understand your lender.”  These loan modification companies frequently require substantial amounts up front.  Many people have opened new credit card accounts to pay for their hefty deposits hoping to save their homes.  According to …

Many people ask me about discharging student loans when they’re looking into filing for bankruptcy .  Typically, student loans aren’t discharged during bankruptcy proceedings.  It’s not impossible to accomplish if you can show that paying the student loan debt “will impose an undue hardship on you and your dependents”.  Bankruptcy judges use various tests to determine whether …

… most serious complaints last year. They were so bad, said Pastor Herrera Jr., the director of the Los Angeles County Department of Consumer Affairs, that loan modification scams could top the list this year. “People will do whatever they can to save their home,” he said. “This is tragic and unconscionable, but it is happening. “Susan Grant, the director of consumer protection for the Consumer Federation of America, the report’s main sponsor, agreed. “These are just outrageous …

… loaned $1.1 million to the Maulsby Trust in July 2008 to pay a note to Wilshire State Bank in Los Angeles.”

One of the unintended fallouts of foreclosure is the loss of historic buildings and landmarks. This is the second article I’ve seen this week about the foreclosure of historic buildings (the first was Langston Hughes home) and it’s a troubling sign of just how bad the residential foreclosure crisis has become. Many properties that once belonged to or were lived in by …

… that have traditionally had very expensive housing, cities such as Riverside, Calif., Miami, and Los Angeles, all have a 99.9 percent likelihood of seeing lower home prices in the next two years. Foreclosure is the primary cause of home price declines and Dallas-Fort Worth alone has seen the number of foreclosures increase by 20 percent in the first seven months of 2009. If the foreclosure crisis is not properly handled soon we are going to see repercussions in ways we could not imagine. …

According to an article in the Los Angeles Times, nearly two-thirds of debtors who filed bankruptcy in 2007 cite illness and medical bills as the primary reason for their financial problems.  And 77 percent of those bankrupt debtors had health insurance in the beginning of their illness; but lost it later.

The article said:

Four in 10 of the “medically bankrupt” had lost two or more weeks of wages due to their own …

When a landlord files for bankruptcy , many tenants are left in the dark about their rights and protections. Well, the good news is that when a landlord files for bankruptcy , the tenants do not lose any of their rights due to the bankruptcy. What this means is that the rights, as defined in your lease will be respected by the bankruptcy trustee; but it doesn’t necessarily mean that you …

Comment by Bill Hooey: … coalition in Los Angeles and I would like to send …