Can I Get My Home Back After Foreclosure?
Clients frequently call our office to ask whether a foreclosure auction can be reversed. I often get asked, “Can I get my home back after foreclosure?” The foreclosure rate across the Washington, D.C. metro area has dropped considerably since the housing bust. After peaking at 3.6% in January 2011, the foreclosure rate currently stands at […]
Building Credit After Filing Bankruptcy
If you’ve filed for bankruptcy, then you’ve made the decision to give yourself a fresh start and free yourself from crushing debt. You’ve made the decision to reduce the stress in your life. You have decided to get a fresh start. Serving clients from all over the Washington D.C. region, Lee Legal specializes in helping […]
Zombie Foreclosures Can Eat Into Your Home Value
A “zombie foreclosure” is a property where the homeowner moves out after foreclosure has been started, but for some reason the foreclosure auction gets cancelled and title is never legally transferred to a new owner. So title to the property remains in the homeowner’s name but the property remains vacant. Zombie foreclosures were one of […]
How Bankruptcy Prevents Foreclosure
Though most people automatically associate the word “bankruptcy” with disaster, fortunately that’s just not true. Bankruptcy can actually help prevent a debt-related catastrophe like foreclosure. And a good bankruptcy attorney will be there with you through every step of the process. Read on to learn how bankruptcy prevents foreclosure. Foreclosure filings — default notices, scheduled auctions […]
Half of Americans Have No Money in Their Savings Account
A recent GOBankingRates.com survey reveals some alarming news. Half of Americans have no money in their savings account or even no savings at all. In a Google Consumer Survey, 49 percent of Americans reported they have no cash reserve. 62 percent reported having less than $1,000 dollars in the bank. The survey also found that 21 percent […]
5 Reasons Why NFL Players Declare Bankruptcy
NFL players declare bankruptcy with surprising regularity. Warren Sapp, the seven-time Pro-Bowler and Hall of Fame defensive tackle, earned a whopping $82 million during his 13-year career that ended in 2007. By the spring of 2012, however, Sapp had filed for Chapter 7 bankruptcy. At that time, Sapp was still pulling in $116,000 per month […]
The Effects of the Great Recession on American Wealth
I just finished reading the 12th Edition of State of Working America, which provides some excellent insights into the effects of the Great Recession on American wealth. The book is the work of the Economic Policy Institute, a nonpartisan, nonprofit Washington, D.C. think tank, created in 1986 to broaden the discussion about economic policy to […]