Seymour's Blog

Reduce Your Mortgage Payments - Apply for a Loan Modification

President Obama has started a new program to help troubled home owners who are having difficulty making their regular monthly mortgage payments. The plan is to help about eight million home owners reduce their monthly mortgage payments.

This government program is called “Making Home Affordable”. The government is giving significant financial incentives to mortgage companies to help homeowners reduce their monthly mortgage payments.

Read more: Reduce Your Mortgage Payments - Apply for a Loan Modification

Seymour's Blog

Can you Keep Money From Your Accident Settlement and Still File for Bankruptcy?

Many times when I interview a bankruptcy client I learn that within the last couple of years my client had been involved in a car accident or some other type of accident where he/she has sustained injuries as a result of someone else’s fault.

My client had previously hired a lawyer to sue, to obtain money for their injuries.

Read more: Can you Keep Money From Your Accident Settlement and Still File for Bankruptcy?

Seymour's Blog

"Client Who Never Liked Bankruptcy, Now Loves Bankruptcy"

Just this past week, I met with a client who is in the construction business. In the good times, he was making $25,000 a month easily. Well, needless to say, these are not good times to be in the construction industry. He is now making substantially less money.

On the other hand, he now has substantially more debt than he did before. He bought a home worth more than one million dollars. He bought a second home as an investment property that is now under water. His mother’s home is also under water.

Read more: Client Who never Liked Bankruptcy Now Loves Bankruptcy

Seymour's Blog

"Wipe Out Your Debts and Keep Your Retirement Money"

Before you start borrowing from your retirement funds to pay credit card debt and other unsecured debts, please do your homework and check out what other legal options are available to you.

The reason I am telling you this is because I have so many clients that come to me and file for bankruptcy to wipe out large amounts of credit card debts, medical bills, and other bills.

But, by the time they have come to me they have already cleaned out their retirement funds like their pension plan, their 401k, their IRA, or other retirement funds that they worked so hard to build up over so many years.

Read more: Wipe Out Your Debst and Keep Your Retirement Money

Seymour's Blog

"Chapter 13 Stops a Sheriff's Sale on Your Home"

Foreclosures are occurring in record numbers. Millions of people are confronted with the prospect of losing their homes. President Obama and the current administration have been creating various alternatives such as mortgage loan modification, mortgage meditation, and other options to avoid foreclosure.

Nevertheless, many millions of people still cannot qualify for these new programs, and they eventually face the day of reckoning. Their house is listed for a sheriff’s sale and they apparently have run out of options to stop the sheriff’s sale.

Read more: Chapter 13 Stops a Sheriff's Sale on Your Home