… on a $183 million loan.  This dollar figure equates to the largest commercial foreclosure in North Texas in more than 20 years.  The bank is seeking a forced sale on the property on February 2 nd.

BentleyForbes, the owner of the property, has been disputing with the loan holders since the fall of 2009.  At that time, the owners failed to make a scheduled debt payment, and insiders say the missed payment was a tactical move by the owners.  The owners wanted to send a message to the …

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

Permalink: /dallas_bankruptcy/largest-foreclosure-posting-in-north-texas-in-more-than-20-years/

… proceedings if you already know you’re going to file for bankruptcy.  A recent case here in Texas demonstrates that failing to disclose your intention to file for bankruptcy during the course of divorce proceedings can make you liable for those divorce-related debts such as alimony on the basis of fraud.

In Anderson v. Wendt (In re Wendt), Adv. No. 05-3941 (Bankr. S.D. Tex. 2007), the Court found that Mr. Wendt was obligated to inform the plaintiff, Mrs. Wendt, about his intentions to …

Tags: Bankruptcy Divorce Law Lawyers and Law Firms Texas

Permalink: /dfw_metro_bankruptcy/texas-state-specific-bankruptcy-and-divorce/

According to an article in the Dallas Morning News the sales and value of North Texas pre-owned homes continues to fall as much as 28 percent for single family homes and 31 percent for condos and townhouses. The massive amounts of foreclosures on the market is said to be contributing to the decline of sales and value of homes in North Texas.

The article said:

About 7 percent of homes listed for sale are foreclosure properties, Brown said. But they made up a …

Permalink: /loans-mortgages/foreclosures-push-down-the-value-and-sales-of-north-texas-pre-owned-homes/

As North Texas builders aggressively sell as many of the homes on the ground as they can existing-home sales rose 2 percent in September from a year ago. At the same time, builders have battled slower sales by reducing the number of new homes they put on the market, bringing the supply closer in line with demand. Builders started 5,551 homes in the third quarter, down 34.5 percent from the third …

Permalink: /loans-mortgages/north-texas-housing-market-close-to-bottom/

… , implemented 230 corporate and administrative job losses, including 160 job losses in East Texas.

“We operate a lean corporate structure,” said spokesman Chandler Keys. “One of the main goals is to make sure we don’t have layers of bureaucracy.”

While more job losses aren’t currently planned, Keys did not rule out additional job losses in the future.  As part of Pilgrim’s Pride’s Chapter 11 bankruptcy restructuring, the company has agreed to merge with the …

Comment author: Tweets that mention Pilgrim’s Pride’s Post Bankruptcy Moves Include Texas Job Losses | Reed’s Bankruptcy Blog — Topsy.com

Comment by Tweets that mention Pilgrim’s Pride’s Post Bankruptcy Moves Include Texas Job Losses | Reed’s Bankruptcy Blog — Topsy.com: … Moves Include Texas Job Losses http://bit.ly/4pDjMs …

Permalink: /job_loss_unemployment/pilgrim%e2%80%99s-pride%e2%80%99s-post-bankruptcy-moves-include-texas-job-losses/

According to an article in the Star-Telegram, the Texas unemployment rate hit 8 percent for the first time in 22 years.  The last time the state experienced unemployment numbers that high was during the 1980’s oil bust.  But despite Texas’ high unemployment rate, the state is still fairing better than the country as a whole, which has an unemployment rate of 9.7 percent.

The article said:

“Despite our strong Texas economic …

Comment by Pamela: I have lived in Texas all of my life and as of Thursday …

Tags: Texas Unemployment

Permalink: /job_loss_unemployment/texas-unemployment-at-22-year-high/

In an effort to replenish the Texas unemployment insurance fund, the Texas Workforce Commission has announced that next year two-thirds of Texas businesses will pay nearly three times the unemployment benefits tax they paid this year.

Businesses that pay the minimum state unemployment tax will owe nearly $65 per worker in 2010, up from about $23 this year. Under Texas’ unemployment insurance system, the minimum tax is …

Tags: Employment Insurance Recession Texas Trust Fund Unemployment

Permalink: /job_loss_unemployment/texas-struggles-to-replenish-unemployment-insurance-trust-fund/

… Here are seven facts that should help you avoid a vehicle repossession disaster:

Repo men in Texas do not need a license to operate. Unfortunately for debtors facing car repossession this can mean dealing with a Texas repo man could prove more risky.  Keep this in mind when you think about “reasoning” or “arguing” with a repo man. If a repo man has come to repossess you vehicle, it is best not to argue or resist. You may be able to get your vehicle …

Tags: Bankruptcy Finance Law Repossession Texas

Permalink: /bankruptcy/7-facts-you-need-to-know-about-repossession-in-texas/

According to an article in the Dallas Morning News, drivers and homeowners in North Texas with poor credit ratings pay an average of 35 percent more for insurance coverage than those with good credit – even when driving records and recent damage claims on homes are identical.

The article said:

“Rates submitted by the 35 largest auto insurers show that all but two use credit history to help decide whom to sell insurance to and how much to charge. Some companies …

Tags: Credit score Insurance North Texas

According to an article in the Dallas Morning News, Parents who invested in Texas’ prepaid tuition plan to pay for their child’s education and avoid student loans may be out of luck after November 30, 2009. On November 30 th new rules governing the program take effect that will change the way the Texas Guaranteed Tuition Plan calculates refunds.

The article said:

“The plan, which started selling contracts in 1996 as the Texas Tomorrow Fund, gave families …

Tags: Student loan Texas Tomorrow Fund Tuition

Permalink: /student-loans/avoiding-student-loans-seems-impossible-for-texas-future-college-students/

According to an article in the Dallas Morning News, the Texas unemployment compensation fund is out of money and relying on loans from the federal government to survive. New taxation for businesses is probably the only way to get out of the red; but officials are hesitant to hit businesses with higher taxes during this recession.

The article said:

“No decision has been made, but commissioners could suspend for two years an assessment that makes …

Tags: Insolvency Recession Texas Unemployment benefits

Permalink: /job_loss_unemployment/how-will-texas-unemployment-fund-insolvency-affect-you/

According to an article in the Star-Telegram, Texas Health Resources is implementing its third round of job losses this year.  More than 100 Texas Health Resources employees have suffered job losses this year, including 23 workers at the Texas Health Harris Methodist Hospital Fort Worth.

The article said:

“The layoffs, announced to employees on Sept. 8, are an attempt to adjust the company’s work force to changing demands for …

Tags: Health care Texas Health Resources United States

Permalink: /medical_bills/texas-health-resources-implements-more-job-losses/