Types Of Bankruptcy
April 3, 2009 | Leave a Comment
When someone has financial problems they look at bankruptcy as a means of ending their debts in a legal manner, and restarting their lives and businesses. There are four main types of bankruptcy that a person can file for.
Each of these bankruptcy laws has been taken from the bankruptcy code and they have certain parameters that must be complied with for the debt to be considered ended.
The four main types of bankruptcy are:
Reality Check: Is Financial Security a Myth?
April 3, 2009 | Leave a Comment
Financial security is a big myth. It always has been.
Webster’s Dictionary defines a myth as, among other things, an unproved collective belief uses to support institutions or other parts of the status quo.
In the 19th century people believed that owning land created financial security. If you owned you own land you could farm it, grow your own food, sell the surplus to buy whatever else you needed and always have a home and hearth. For millions this was true. It was a path to success for many, if not most Americans for a century or more.
It was not secure.
Why Won’t a Bank Approve a Loan Modification?
April 3, 2009 | Leave a Comment
Bascically there are three reasons why banks won’t approve a Loan Modification:
1. Some cases borrower association don’t get permission to modify the loan from lenders.
2. Information provided is incorrect.
3. Bad communication between lenders and servicing agents
