The foreclosure rate has declined in the U.S. during the last few months but for homeowners still facing foreclosure, the nightmare may be just beginning. A new study found that foreclosures can cause distress for many homeowners, threatening their mental health during and after foreclosure.
The term zombie foreclosure conjures up visions of a house from a horror movie, stumbling around looking for a homeowner to feast on. The reality isn't too different - zombie foreclosure is a term used to describe houses that are in between owners and are not being cared for or lived in. The result of this can be quite scary, both for the state of the house and for the homeowner who last held the title.
Attorneys general from nine states sent a letter to the president recently asking that he replace the current acting head of the Federal Housing Finance Agency.
In one of our recent posts we discussed the impact that forgiven credit card debt can have on federal income taxes. With tax season approaching and many Tennessee readers in the process of preparing their tax return, it is important to take into account the variety of ways that debt consolidation or debt forgiveness can impact a tax return.
According to a recent statement by the Federal Reserve Bank of New York, household debt in Tennessee and nationwide continues to be on the decline. In the third quarter of this year, declining mortgage balances outpaced rising student and auto loans.
As the residents Tennessee probably know, the ongoing Great Recession has left many people holding the bag on homes that they could not afford. So-called "subprime" lending put many people in Memphis in homes when they may have not been able to own home previously. The problem was that they simply could not afford the payments, and, as some suspect, their creditors knew it.
In recent posts, we've discussed a number of foreclosure avoidance and debt relief strategies, as well as a recent trend in the housing market of short sales. Today's story alerts readers in Tennessee to a potential debt management issue they could be facing at the end of this year.
In our last few posts, we've explored various aspects of debt collection activities by creditors. Today's posting discusses certain tactics by third-party debt collection firms which have drawn the scrutiny of governmental authorities.
A regional oil refinery which filed for bankruptcy several years ago recently announced that it has scheduled production to restart this fall. Its story is an example of how bankruptcy can provide legal options against aggressive creditors and debt management issues.
A recent study proposes a correlation between the current economic recession and divorce rates in Tennessee and across the country. Although the overall divorce rate in America has declined since the 1980s, data from the United States Census Bureau reflects an uptick of about 30,000 additional divorces between 2009 and 2010, the period associated with the nation's real estate crisis.