Some New York residents may be familiar with how the bankruptcy system works. By filing for bankruptcy protection from creditors, some or all outstanding debts may be discharged upon the completion of the process. However, there are some obligations that will be...
A New York resident who is currently going through a bankruptcy or someone who is considering bankruptcy as an option may want to know if they can walk away from a home during the proceedings. While it is sometimes possible to do so, there are many considerations...
A recent study conducted by economists from the Federal Reserve Bank of New York and Columbia University suggests that the costs associated with filing for personal bankruptcy could cause some people to become insolvent. The researchers looked at the impact that the...
People in New York who have declared bankruptcy or had a foreclosure may be able to qualify for a new home loan under a federal program called 'Back to Work - Extenuating Circumstances." Introduced in 2013, the Federal Housing Administration initiative is designed to...
New York homeowners with second mortgages may want to know about a case being discussed by the Supreme Court regarding how bankruptcy should affect the status of "underwater" second mortgages. The case involves allegations that the current system, which is governed by...
