Tag Archives: news
Business bankruptcy: Chapter 11 for 2
Frontier Airlines and Linens and Things both might need to have a reorganization, it was reported Friday. Note that these are different than Chapter 13 bankruptcy, which is a much smaller reorganization (and more common). View original here: Business bankruptcy: Chapter 11 for 2
Foreclosure Prevention Act has Bankruptcy Split
Foreclosure Prevention Act making its way through Congress has some members divided whether judges should be able to trim the loans of homeowners who are underwater with mortgages: The Senate is poised this week to approve the housing legislation, dubbed the Foreclosure Prevention Act. Heavy on tax breaks for homeowners as well as for businesses [...]
Chuckle o’ the Day
You are stuck with your debt if you can’t budge it. Excerpt from:
What is the house with the upside down mortgage worth?
How will the mortgage and credit crisis play itself out? Today’s paper offers a clue: Like many, I’ve wondered how our home mortgage finance system will rebuild itself, and how we will be able to contain problems in the financial system so they don’t infect corporate America, lower profits, and lead to massive layoffs. The [...]
Shifting blame for foreclosures
In today’s WSJ, they quote the Becker-Posner blog: Hardly a day goes by during this housing crisis that the media does not report on families in foreclosure proceedings, or in arrears in repayment on mortgages that had close to zero down payment requirements and low “teaser “ interest rates. The many excuses offered by some [...]
