Category Archives: News
Poorer Cities Pay Higher Property Taxes
The Los Angeles Times, reported that residents of poorer cities are paying higher property taxes than those in more affluent cities according to data provided by the Los Angeles County Auditor-Controller’s Office.
Neighboring working-class cities, including Compton, San Fernando, El Monte, Huntington Park, Maywood, Montebello and Inglewood, also have high property tax rates. Indeed, of the [...]
Foreclosure Increasing Again
The nation’s foreclosure crisis is worsening as homeowners battling high unemployment, slow job growth and an uneven rebound in home prices continue to fall behind on their mortgage payments.
In all, 154 out of 206 metropolitan areas with at least 200,000 residents posted an annual increase in foreclosure activity between January and June.
Notices for defaults, scheduled [...]
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 [...]
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 [...]
New $100 Bill
The United States Treasury Department has just unveiled the new $100 bill design to curtail counterfeit.
“This note incorporates the best technology available to ensure we’re staying ahead of counterfeiters,” Geithner said at the unveiling ceremony.
The new bill featuring a security thread decades in development: the microprinted mobile image that has inspired all the Harry Potter [...]
Foreclosure Down or No
Foreclosures in the month of January was 15% compared to the same month last year. But it is predicted that this number is going to dramatically increase as a surge of cash-strapped homeowners who have fallen behind were on their way.
More than 315,000 homeowner received a foreclosure notice in January. That is less [...]
Foreclosure Liability
Depending on the state that you reside in, you could be in for a rude awaking if your home was foreclosed upon. For what you asked? Well if your home sold for less than what was owed on your mortgage than you could be liable for the difference. This is known as [...]
States Filing For Bankruptcy
With individual bankruptcy filing at record place, it is not too surprising that companies and now state government are following suit.
There is a thought floating around that 46 out of 50 states in American could file for bankruptcy. If that turns out to be true then we might be in for a long ride [...]