708-598-5999

An elderly couple was on the verge of losing their home when they filed a bankruptcy case to avoid foreclosure.  A Delaware bankruptcy judge has ordered Ocwen to pay the couples bankruptcy fees and costs because he said that Ocwen had basically forced the couple to file bankruptcy by falsely alleging the couple was behind on their mortgage payments. For the full story read, “Delaware Judge Faults Ocwen for Pushing Homeowners to Bankruptcy.” Image credit:  BasicGov   … [Read more...]

Whether it is because you had to file bankruptcy or just poor money management, your credit score may not be as healthy as you would like.  However, there is always hope.  You can give your credit score a nice healthy boost with these 12 tips for improving your credit score.  Begin by understanding exactly what your credit score really is and how it is calculated.  After you understand that, then you can use these ways to boost your credit score. Read more at, “12 Simple Ways to Raise Your … [Read more...]

For so long, buyers were accustomed to have more power in the real estate market as sellers were willing to do almost anything to sell their home in a depressed market.  However, the front door has swung the opposite direction and many sellers are receiving multiple offers on their home.  When this happens, the buyer who is better prepared for a bidding war often comes out of the battle with the keys to the house. For tips on how to win a bidding war read, “5 Tips for Winning a House Bidding … [Read more...]

Love Culture filed for protection under Chapter 11 on June 16 making it yet another women’s clothing line seeking bankruptcy protection.  Citing over-expansion and lower than expected profits, mangers hope to close non-profitable stores and restructure its debts through the Chapter 11.  If the company is unable to successfully restructure, it will seek a buyer through a court-supervised auction. For the full story read, “Clothing chain Love Culture files bankruptcy, may be sold.” Image … [Read more...]

In today’s real estate market, sellers may have a slight advantage as the housing market continues to improve; however, there are certain things that will drive the resale value of your home down.  For example, buyers are much more interested in the history of a potential home than ever before.  If you have had to deal with mold or you had to rebuild due to a fire, buyers may not be willing to pay as much for your home. For other factors that lower resale values read, “5 Factors That … [Read more...]

When the housing market crashed, buyers became a very hot commodity.  There were more homes for sale than there were buyers and sellers were highly motivated to attract buyers.  However, with the housing market leveling out, this is no longer the case.  Buyers are back to trying to negotiate with sellers for a lower sales price.  Sellers are not as fearful that they will never be able to sell their home. If you are in the market for a new home, here are 12 tips to help you negotiate a lower … [Read more...]

Most homeowners are looking to purchase a bigger home as their family grows or as their income increases; however, there are times when downsizing your home makes sense.  Retirement is a perfect example of why you should downsize.  Your kids have moved out and the two of you do not need as much space or the expense of maintaining a larger home.  You can save money and enjoy more things if you downsize your home. For four more reasons you should downsize read, “5 Signs It's Time to … [Read more...]

Diehard fans of the famous cupcake giant were crushed to hear that Crumbs was closing its doors and filing bankruptcy.  They rushed to the stores to buy a farewell treat and one fan even bid $255 on eBay for a Crumbs cupcake.  However, fans have a reason to celebrate.  A group of investors has stepped up and is working with the financially crippled company to secure financing so Crumbs can continue to provide sweet treats to its loyal fans. For the full story read, “Crumbs Cupcakes May Live … [Read more...]

If you are wondering why your home will not sell, you may need a new strategy.  Sometimes a home will attract many potential buyers but something keeps any of them from making an offer.  One probably is that you may have your home overpriced.  Detaching yourself emotionally from your home is difficult.  Discuss the option of lower the sales price with your realtor. For four other strategies that can help get a “Sold” sign in your yard read, “5 Steps to Sell a House That Won't Sell.” Image … [Read more...]

The question posed in the article referenced below is can I file a bankruptcy to get rid of credit card debt while protecting my 401k account.  The answer is “yes” your retirement accounts are protected by bankruptcy exemptions in most cases with very few exceptions.  One exception would be if the debtor withdrew these funds.  Withdrawing the funds from the retirement account makes them available to the trustee and your creditors. For more on this subject contact our office and read, “Is … [Read more...]