Posted on Monday, June 2nd, 2014 at 8:47 pm
Even though foreclosure rates across the U.S. are improving, Maryland has the second highest foreclosure rates in the country, an article by the Baltimore Sun reported on May 15.
According to real estate data firm RealtyTrac, at least one in 624 homes in Maryland filed for foreclosure last April compared to the nationwide average of one in 1,137 homes. Unfortunately, this means that foreclosure rates have climbed 4.5% since last year.
Additionally, Maryland had the lowest number of initiated foreclosures all year. Maryland’s high foreclosure rates likely stem from the state’s backlog of foreclosure suits; they are just now being cleared from the system.
Our experienced team of attorneys at Chaifetz & Coyle, P.C. help those in Maryland under the frightening threat of foreclosure. If you are struggling to defend your home against foreclosure, we may be able to help. Consult with us today at (443) 546-4608.
Posted on Monday, May 5th, 2014 at 6:03 pm
Former American heartthrob Lorenzo Lamas reportedly filed for Chapter 7 bankruptcy after lacking the funds to cover his outstanding debts, Mail Online stated on April 29.
In the bankruptcy documents filed by the 56-year-old actor, the largest chunks of his debts were unsettled taxes and domestic support fees, the combined value totaling more than $322,000. The freelance actor reportedly had no source of income after he finished filming the 7th series of the reality TV-show “Celebrity Apprentice.” Lorenzo’s assets were listed at $9,100 with a checking account balance no greater than $500.
The lawyers at Chaifetz & Coyle, P.C. understand that in Maryland alone, many people are struggling to settle unmanageable debts. If you are experiencing this, our lawyers may help you bounce back by sharing alternative legal solutions to help rid you of your debts. Tell us your situation today by calling (443) 546-4608, and learn more about your options.
Posted on Monday, April 28th, 2014 at 6:19 pm
Students who resort to private borrowing to finance their education may be forced to settle their debts if their co-signer, usually a parent or relative, dies, an article in the New York Times reported on April 22.
According to a report released by the Consumer Financial Protection Bureau, student borrowers can be forced by loan holders to fully repay their loan if their co-signers die or seek bankruptcy protection. Even a borrower who has a good credit history may still need to settle the loan or face the consequences of loan default. Though the practice has been deemed legal, most student loan borrowers are unaware of this possibility.
Being suddenly struck by overwhelming debt can be frustrating. However, if you have debt problems in Maryland, a lawyer at Chaifetz & Coyle, P.C. may be able to help you resolve your financial difficulties. Call (443) 546-4608 today to find out how our lawyers can help you.
Posted on Wednesday, April 23rd, 2014 at 9:23 pm
Real estate firm, RealtyTrac observed that Maryland is still suffering from high foreclosure rates across the state due to the mortgage lending crisis. Currently, Maryland has the second highest foreclosure rate in the United States.
In March, properties that started the foreclosure process increased by 19% compared to February. There were at least 2,634 Maryland homes last month started foreclosure. Many Maryland residents are still suffering financially continues to suffer foreclosure due to legal changes that prolonged the foreclosure process.
The lawyers at Chaifetz & Coyle, P.C., work for people in Maryland who are threatened by foreclosure. Call our attorneys at (443) 546-4608 to discuss the possibility of defending your home.
Posted on Thursday, April 3rd, 2014 at 6:35 pm
The majority of payday loan patrons are trapped in debt due to the costly interest rates.
The Consumer Financial Protection Bureau found out that majority of payday loan borrowers choose to roll over their loan or take out another loan. In addition to the, already existing, interest rates, payday loan businesses usually add charges for rolling over on a loan.
A small fraction of borrowers reportedly settle their debts on time, while more than half of borrowers tend to renew their payday loans at least once.
Inability to pay ones debts can be extremely frustrating and frightening. The attorneys of Chaifetz & Coyle, P.C., represent Maryland people who are in need of financial assistance. Call our offices today at (443) 546-4608 to discuss your options with a member of our skilled legal team.
Posted on Wednesday, March 19th, 2014 at 9:57 pm
The housing industry in the U.S. continues to improve as the number of homes in foreclosure this February hit an all-time low since 2006, Forbes reported on Thursday, March 13.
According to recent RealtyTrac data, there were 112,498 properties in the U.S. that were in various stages of foreclosure filing in February. Additionally, homeowners that received default notices and started the foreclosure process also declined recently, with only 51,842 properties recorded nationwide in February.
However, RealtyTrac said the number of homes beginning the foreclosure process did increase last month in at least 14 states.
At Chaifetz & Coyle, P.C., we know that many people in Maryland are struggling with looming foreclosure. If this is the case for you or a loved one, call (443) 546-4608 to find out how we may be able to use legal means to help you keep your home.
Posted on Friday, February 28th, 2014 at 6:26 pm
Rapper Earl Simmons, also known as DMX, faces foreclosure for his $1 million Mount Kisco property.
Reports indicate that DMX blames his estranged wife, Tashera Simmons, for the foreclosure. After the rapper left his Mount Kisco property in 2005, Tashera agreed to pay the mortgage.
The current financial state of the property indicates that the mortgage has not been handled properly. DMX, 43, reportedly stopped paying the property bills in 2008.
Foreclosure can be a particularly stressful time for homeowners. If your property is being threatened, you might be able to benefit from legal assistance. The attorneys at Chaifetz & Coyle, P.C., assist property owners in Maryland. Call (443) 546-4608 to discuss your legal options with a skilled attorney.
Posted on Tuesday, February 25th, 2014 at 10:47 pm
As the Home Affordable Modification Program is nearing its end, thousands of homeowners who benefited from the program should expect an increase in their interest rates, CNBC reported on February 14. According to reports, around 30,000 program beneficiaries will see a one percent increase this coming September, a number that will continue to increase every year.
Since the program started five years ago, 1.2 million people have had their mortgage modified. But as 2013 ended, 894,410 borrowers were still under the program, with more than 306,000 of them still having trouble meeting their mortgage payments. The program was introduced to help homeowners struggling to make mortgage payments.
The legal team at Chaifetz & Coyle, P.C., knows that numerous homeowners in Maryland are being threatened by foreclosure as a result of being unable to pay their mortgage. If you are dealing with such a situation, call (443) 546-4608 to explore your options for mortgage modification and debt negotiation.
Posted on Thursday, January 30th, 2014 at 10:48 pm
According to RealtyTrac data released in mid January, Maryland is ranked third in the U.S. regarding states with the most foreclosures.
Maryland was observed to have a continuous foreclosure rate for 17 months since last November. Coastal Association of Realtors executive director Sheila Dodson said the increase of foreclosed homes in Maryland is due to the nearing end of the six month moratorium. With the moratorium in effect, banks were unable to take over a property.
Doug Marshall, who views the foreclosure system in the state as ineffective, suggested that homeowners should be allowed to voluntarily leave their home then have the lenders sell the property on site to preserve its value.
Being threatened by foreclosure can be frightening and stressful. Fortunately for Maryland homeowners, the lawyers at Chaifetz & Coyle, P.C., may be able to help you pursue legal options that will allow you to keep your home. Speak with us today about how we can help by calling (443) 546-4608.
Posted on Tuesday, January 21st, 2014 at 9:09 pm
According to numbers from RealtyTrac, a real estate information firm, less homes started the foreclosure process nationwide last year than any other year since 2007. The decline in the number of foreclosures beginning was observed in 37 states, particularly those that are less populated.
RealtyTrac’s data, which was published by CNBN on January 16, showed that there were only 462,970 houses that were repossessed by banks in 2013, a 31 percent decline compared to 2012. The decline was also observed to be the lowest in the last six years, during which the U.S. was struck by foreclosure crisis.
RealtyTrac vice president Daren Blomquist expressed optimism in the real estate industry for the continuous decline of homes entering foreclosure procedures.
While foreclosure starts continue to improve in a majority of U.S. states, the legal team at Chaifetz & Coyle, P.C., understands that many Maryland homeowners are still being threatened by foreclosure. Fortunately, you may be able to defend your home against foreclosure. Learn more about your legal options and how we can possibly fight to help you keep your home by calling (443) 546-4608.