A recent posting on the bankruptcy blog Credit Slips asks this intriguing question: why, when delinquent consumer debts are at historical highs, are we not seeing more personal bankruptcy filings? To contextualize this question a little, here’s some background:

In 2005, a new bankruptcy law (the Bankruptcy Abuse Prevention and Consumer Protection Act, or BAPCPA) took [...]

In the early days of the foreclosure crisis, the hardest-hit states were ones where building booms had been the biggest—California, Nevada and Florida topped most foreclosure lists. But now, according to some recent information, it seems that the worst foreclosure woes are no longer restricted to these area of the country.
In fact, the latest figures [...]

The housing market’s recent bubble and burst cycle has left the country in an unpleasant housing situation: millions of homes are underwater, meaning that families owe more on their mortgages than their homes are worth. Add in high unemployment and you begin to see why so many Americans are struggling to make mortgage payments—and wondering [...]

A recent report from ConsumerMortgageReports.com presents some troubling numbers that suggest the nation’s foreclosure and real estate problems aren’t going away any time soon. Here’s a look at some of the latest foreclosure numbers and what they might mean for the housing market.
HAMP and Unaffordable Mortgages
The Home Affordable Mortgage Program (HAMP) is the Obama Administration’s [...]

As Congress’s financial reform bill makes its way to President Obama’s desk to be signed into law, some lenders, according to the New York Times, are modifying their practices to come into compliance with anticipated restrictions the bill will introduce.
Here’s a look at some changes you can expect to see when the new law is [...]

Bank of America has taken steps toward easing the mortgage burdens of 10,000 borrowers, which averages to 200 per state, according to a recently published report from the Associated Press.
The outreach effort was reportedly part of an agreement between the bank and various state attorneys general who brought charges concerning some of the subprime loans [...]

We’ve all heard about the subprime mortgage disaster and what that has done to the housing market. We’ve also all heard about the firms that issued the bonds claiming that they did the best they could with the information they had at the time. A recent report from the Wall Street Journal seems to state [...]