Happy Green Day, Light on the Green
A San Jose bankruptcy attorney speaks to bankruptcy, foreclosure and the consumer lack of green…
Even on St. Patty’s Day, the greenest day of the year, most financial news outlets, as well as many a San Jose bankruptcy attorney will report that the amount of Americans currently late on their monthly mortgage payments isn’t decreasing anytime soon as its decline has steadily increased through the recession. A recent Investopedia article sites ‘nearly 9.7% of all American mortgage holders, or 4.5 million homeowners, were delinquent (at least one payment past due) on their loans and if you add in homeowners already in the foreclosure process that number jumps to 14.41% - the highest ever recorded by the Mortgage Bankers Association (MBA).’
Bay Area debtors may wonder, then, is there a lesser of two evils: bankruptcy vs. foreclosure? As consumers in debt feel the constant brunt of skyrocketing unemployment and increased housing debt, some are faced with foreclosure and/or bankruptcy. According to an American Bankruptcy Institute (ABI) forecast, personal bankruptcy filings will have peaked beyond 1.4 million by the end of 2009. Enter: filing bankruptcy to avoid foreclosure.
There are no quick fixes, easy answers or magical cures for consumers in debt that are faced with these tough choices. One thing they can obtain, though, is knowledge. An experienced bankruptcy attorney can explain the pros and cons of foreclosure, bankruptcy, and filing bankruptcy as a means to avoid foreclosure.
If you have a question regarding Bankruptcy in San Jose please contact us at 408.279.2288 or visit www.bkanswers.com and we can connect you with one of our experienced San Jose Bankruptcy Attorneys. After you have spoken with one of our San Jose bankruptcy attorneys we can schedule you a free face to face appointment in our office location nearest you. Our team of San Jose Bankruptcy Lawyers can assist you with all aspects of your case. If you have questions about filing a chapter 7 bankruptcy, a chapter 11 bankruptcy, a chapter 13 bankruptcy, lien stripping, cram down, stopping a foreclosure or wage garnishment, discharging debt, etc. we can help! We have bankruptcy attorneys located throughout California who can assist your financial needs. Please feel free to complete our free bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy.
