Bankruptcy Lawyer Bryan W. Stone answers the question: “Does Bankruptcy stop foreclosure?”
Many people who are experiencing financial trouble have difficulty keeping up with many of their monthly obligations, including their mortgage payments. When a homeowner gets sufficiently behind on his or her mortgage, the mortgage lender may pursue foreclosure, which is the legal process through which a piece of real estate is repossessed. Once repossessed, the property is generally sold at auction so that the lender can mitigate the losses it has incurred. Fortunately for homeowners, there are often many ways in which filing for bankruptcy can help them keep their homes and lower their total monthly debt burden. For specific advice regarding your situation, call one of our highly experienced Charlotte bankruptcy attorneys today.
Bankruptcy Lawyer Bryan W. Stone answers the question: “Can I keep my house if I file bankruptcy?”
For would-be homeowners who are struggling to secure a loan, seller financing can be an alternate path to home ownership. It can seem like a no-brainer for individuals with spotty credit histories eager to have a house to call their own: monthly mortgage payments directly to the old owner in exchange for the keys to your new home! The bank is cut out as the middleman!
Bankruptcy Lawyer Bryan Stone answers the question: “Can I keep my house if I file bankruptcy?”
There’s been a recent push by some legislators to further reform the bankruptcy process. The argument is that the system has too many loopholes that can be exploited by those eager to game the system. Though the overwhelming majority of bankruptcy filers are honest and only move forward with seeking bankruptcy protection as a last resort, it is true that occasional bad apples can be used to spoil the bunch. One example of a bad apple is a man from Florida who spent more than a decade using the bankruptcy system to live rent free by continually putting off foreclosure attempts.
Charlotte Bankruptcy Lawyer Bryan W. Stone of Arnold & Smith, PLLC answers the question “What is Chapter 11 Bankruptcy?”
A suburb of Louisville, Kentucky announced that it was seeking Chapter 9 bankruptcy protection this week, an attempt to save the city from mounting interest and fees associated with a judgment it is unable to pay. City administrators say they are using the bankruptcy as a chance to buy time, suspending payments to creditors, in the hopes of creating a new plan and readjusting debts to a more manageable level.
Charlotte Bankruptcy Lawyer Bryan W. Stone of Arnold & Smith, PLLC answers the question “Do I need an attorney to file bankruptcy?”
The foreclosure king has been deposed… or at least arrested.
Todd Brunner, once dubbed the “foreclosure king” of Milwaukee, Wisconsin, was arrested by “heavily armed federal agents on Monday” during an early morning raid on his Pewaukee home. Agents broke down the 57-year-old Brunner’s door and arrested him and his 24-year-old son, Shawn.
Todd Brunner was charged with eleven counts of bank fraud and four counts of bankruptcy fraud, while Shawn Brunner was charged with three counts of bank fraud and one count of bankruptcy fraud.
The elder Brunner made his fortune in the late 1990s and early 2000s by purchasing hundreds of foreclosed properties throughout southeastern Wisconsin and converting them into rental units. As of 2011, when the Milwaukee Journal-Sentinel reported that Brunner was feeling a “financial pinch,” his companies owned some 200 properties that had an assessed value of $23 million.
Brunner ended up filing for bankruptcy—for the second time—that year, acknowledging some $20 million in debts and listing his real estate assets as well as three boats, a 2000 Porsche Boxer, a 1984 Rolls Royce, a 1918 Rauch & Lang electric car as well as a bevy of other luxury vehicles.