Board Certified Specialist in Bankruptcy
This month we've run a series for distressed homeowners and published NC foreclosure data. To round out our coverage on the topic I want to discuss a paper written by James E. Rogers of the University of Arizona's College of Law because it runs counter to what people generally believe is happening with people "walking away" from their mortgages. Professor Rogers says most homeowners continue to … [Read more...]
In this week's Charlotte Observer story about tough times in the commercial construction sector, we learned that liens filed in Mecklenburg County against general contractors by their subs spiked by about 70% in the last two years. Experts say they will continue rising. The article sparked a lively discussion in the "comments" section online. What's a sub to do? Before you let the lack of … [Read more...]
Mortgage Delinquencies The Hope Now Alliance, comprised of counselors, mortgage companies, investors and other mortgage market participants, reported that there were more than 3 million mortgage loans 60 or more days delinquent through the end of July. Foreclosure starts were above 283,000 thousand in July, though completions totaled only 89,000, according to the data. Auto Loan … [Read more...]
As a member of the Better Business Bureau, we review the organization's activity updates regularly. If they affect our clients and prospective clients directly, we highlight them on our blog. What follows is a quote from the BBB on one of the many fraudulent schemes targeting homeowners at risk of foreclosure: The "we buy houses" concept is a variation of the mortgage foreclosure rescue … [Read more...]
I was quoted in The Charlotte Observer regarding a $515 million luxury condo, office and retail project in Cornelius, NC that's being foreclosed on. Many people are surprised to learn that the developers hadn't missed payments. Then why the foreclosure? Because the project wasn't hitting agreed-upon milestones -- the developers hadn't leased enough of the space. I expect to see more of … [Read more...]