Recent Posts in Foreclosure Category
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Review discovers wrongful foreclosures in military
Posted By Law Offices of Campbell & Coombs, P.C.Arizona residents may have heard about the recent claims of foreclosures abuse conducted by the nation's largest lenders, which alleged that flawed paperwork and poor loan modifications contributed to many of these foreclosure actions. Federal regulators came to a multibillion-dollar deal with these major lenders earlier this year, guaranteeing cash relief to borrowers foreclosed upon in 2009 and ...Continue Reading -
What is a zombie foreclosure and how can it affect Arizonans?
Posted By Law Offices of Campbell & Coombs, P.C.Many Arizona residents have their expected expenses under control, such as credit card bills or utility wages. However, their financial plans may suffer when an unexpected expense, such as an illness or sudden unemployment, hits them. Filing for personal bankruptcy, whether it is Chapter 7 or Chapter 13, may be one way to gain relief from endless obligations and anxiety. Unfortunately, a new breed ...Continue Reading -
Foreclosed upon or not--the curse of the zombie title
Posted By Law Offices of Campbell & Coombs, P.C.Arizona residents may have read zombie books and seen zombie movies, but they may have never heard of zombie titles. Spawned from the housing market crisis, this new phenomenon has meant American homeowners were liable for houses they didn't even know they still owned. In the last six years, more than 10 millions homes have been foreclosed upon. These numbers include fraudulent mortgages banks ...Continue Reading -
CSI actor files for bankruptcy
Posted By Law Offices of Campbell & Coombs, P.C.Anyone can land in a tough financial spot, whether they are an everyday Arizona resident or a television star. Unemployment has caused financial difficulties for many people, and while it is important to remain positive and await future opportunities, when a person's debts exceed their income and their house is in danger of going up for auction, they should know they have options that may wipe out ...Continue Reading -
Short-sale and principal reduction tax break may expire
Posted By Law Offices of Campbell & Coombs, P.C.The housing market's decline may have affected a lot of Arizona homeowners as they faced the threat of foreclosure and their mortgage payments became higher than the market value of their homes. With income declining and mortgage payments increasing, struggling homeowners may have filed for personal bankruptcy to retain ownership over their house and other assets. Chapter 7 bankruptcy filers may ...Continue Reading -
Elderly Americans struggling with mortgage, facing foreclosure
Posted By Law Offices of Campbell & Coombs, P.C.The past few years have been difficult for Arizona homeowners, with the housing market collapse and the recession. Among the hardest hit are older generations, with the AARP reporting that more than 1.5 million older Americans have already lost their homes to foreclosure and millions more are poised to do so. As the threat of foreclosure looms and mortgage payments accumulate, some Americans may ...Continue Reading -
Companies invest in rentals in Arizona as foreclosures continue
Posted By Law Offices of Campbell & Coombs, P.C.More and more neighborhoods in Arizona and throughout the country are becoming renter-occupied as opposed to owner-occupied as the foreclosure crisis continues. According to U.S. Census data, the fastest growing portion of the rental market between 2005 and 2010 correlated to single family homes. In fact three out of four homeowners who lose their homes due to foreclosure will go on to rent, ...Continue Reading -
Arizona homeowners focus on improving lines of credit
Posted By Law Offices of Campbell & Coombs, P.C.In Arizona and across the nation, residents continue to face difficult decisions when it comes to their personal finances. Whether defaulting on lines of credit or filing for bankruptcy, priorities have changed radically in the past few years. According to a research director at credit reporting agency TransUnion, mortgage defaults played an important factor in this shift. In states where home ...Continue Reading -
Arizona lawmakers introduce bill to alleviate mortgage crisis
Posted By Law Offices of Campbell & Coombs, P.C.New measures are being introduced by various states to counter the housing crisis across the country, which has affected more than 500,000 homeowners in Arizona alone. A foreclosure settlement between the federal government, five major banks and 49 states is also aimed to reign in the crisis and punish the banks, but this settlement has faced criticism for allowing those responsible to avoid ...Continue Reading -
Watch out Mesa, foreclosure wave may roll in
Posted By Law Offices of Campbell & Coombs, P.C.Mesa homeowners should prepare themselves because the U.S. will be hit by another wave of foreclosures soon, according to a new report. Online foreclosure sale site RealtyTrac warns that while we are currently seeing a slowdown in foreclosure activity, this is simply because the process is bogged down. Soon, a backlog of several million delinquent loans will be processed, giving way to bank ...Continue Reading
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