Monthly Archives: May, 2010
Foreclosure can impact your credit
While homeowners who default on a mortgage due to economic hardship, such as a job loss or divorce, normally must wait two to five years before buying a home again, walkaways may face double that time. Walkaway, meaning those who voluntarily walk away from their home loan. For example, say you owe $600,000 when you [...]
Rangers Seek Bankruptcy Help
The major league franchise Texas Rangers seek bankruptcy protection to shield itself from about 30 creditors. Among the group of investors coming to the rescue is a group lead by the great Nolan Ryan. His group is rumor to have offer $575 million to purchase the team. The sale would have to be approved by [...]
Ex NBA Player Files for Bankruptcy
Ex NBA star Derek Coleman filed for Chapter 7 bankruptcy protection last month. He owed his creditors more than $4.7 million dollars. Derek Coleman was the number one draft pick coming out of high school into the NBA. The ex-Syracuse University standout and 1991 NBA Rookie of the Year earned tens of millions during a [...]