Real estate transactions are some of the most significant financial decisions you’ll make in your lifetime. Unfortunately, the complexity of these deals creates opportunities for fraud. Whether you’re a buyer, seller, or investor, knowing how to protect yourself and recognize potential scams is essential. Below, we’ll explore the different types of real estate fraud, who’s […]
How is Chapter 7 Bankruptcy different from Chapter 13 Bankruptcy?
If you are considering bankruptcy as an option for your financial situation, you should know there are a few options. Chapter 7 bankruptcy and Chapter 13 bankruptcy are two of those options, which we have outlined and compared below. Chapter 7 Bankruptcy Chapter 7 bankruptcy is a liquidation process where a person’s assets are sold […]
What is Lien Stripping?
Lien stripping is a way somebody in Chapter 13 bankruptcy can remove lower priority liens. It’s only allowed in cases where the value of the house is no longer enough to cover the outstanding mortgages on higher priority liens. Lien stripping turns the junior mortgage into an unsecured debt that may eventually be discharged. Basics […]
Filing Bankruptcy: How Does Debt Relief Work?
Filing for bankruptcy comes with many emotions — from shame and despair, overwhelm, and even relief. We’ve put together this quick guide to debt relief so you can start arming yourself with information in order to take on the bankruptcy process. What is Bankruptcy? Bankruptcy is a legal process intended to help people and businesses […]