Our website at Leiden & Leiden has previously described the most common causes of financial distress which may lead to bankruptcy. Among those causes are divorce/separation, unemployment/underemployment, health issues and mismanagement...
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In March of 2020, the World Health Organization declared that Covid – 19 had officially become an international pandemic. Life as we knew it, both personally and economically, changed. While the extent of the financial effects varied, almost all...
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Decrease in Bankruptcy Filings In the five months since “Covid” and the “Coronavirus” have become household words, the American economy experienced more turbulence than at any time since the Great Recession. Business bankruptcies for small...
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In response to the coronavirus threat, many local and state governments enacted restrictions which prevented some businesses/industries from operating entirely, while other businesses could still operate at a reduced workload. Realizing that many...
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One of the biggest concerns facing our economy during the pandemic is homeowners’ ability to manage their mortgage payments with reduced, or no income. In the previous recession over a decade ago, many American consumers struggled with the...
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Wells Fargo admits that a “computer glitch” caused the improper foreclosure of hundreds of home loans between April 2010 and October 2015. But keep in mind that there were probably thousands of improper foreclosures that were averted...
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At the beginning of the most recent century, both lenders and borrowers had developed many bad habits from a toxic combination of unrealistic optimism and immediate gratification. These bad habits led to a dramatic increase in bankruptcy for both...
Read moreIn the wake of additional financial regulation and agency enforcement of settlement agreements, mortgage companies have to be very careful to make sure that there documents are in order before commencing a foreclosure proceeding. This is...
Read moreThere are various reasons that may cause a homeowner to default on their home loan. Divorce, separation or unemployment may deprive a consumer of the income necessary to service the home loan, which will eventually lead to the foreclosure of the...
Read moreCheck out this article about the aftermath that consumers are facing after foreclosure: http://www.msn.com/en-us/money/news/americans-face-post-foreclosure-hell-as-wages-garnished-assets-seized/ar-BB9dmPO
Read moreBankruptcy is often used as a method of foreclosure prevention, especially in Georgia where the foreclosure process is expedited compared to other states. However, over the last few years, more lenders have been willing to negotiate the terms of...
Read moreRecent news about housing has been positive, as foreclosures have decreased in comparison to recent years. There are many possible reasons for the reversal of the trend, and many individuals and entities that want to take credit. But this blog...
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