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Consumer Blog

Foreclosure Rates on the Rise: Homeowners Struggle with Affordability Amid Housing Market Slowdown

Posted by Sami Thalji | Feb 14, 2023 | 0 Comments

Despite a housing market slowdown, foreclosure rates across the US have increased for almost two years. Real estate data analysis by Attom showed that Florida had some of the highest levels in the past year, highlighting issues of availability and affordability. Mortgage lenders completed almost 4,000 repossessions in January, up 6% from December but down 19% from the year before, according to Attom’s data. The ability to afford a home remains difficult, with the 30-year fixed rate increasing to 6.12%, and addressing the affordability concern remains an issue that both federal and state officials and lawmakers are trying to solve.

Chapter 13 Bankruptcy: 5 Benefits for the Average Consumer

Posted by Sami Thalji | Feb 07, 2023 | 0 Comments

Chapter 13 bankruptcy offers several benefits for the average consumer struggling with debt. These benefits include protection from foreclosure, stopping creditor harassment, paying off debt, keeping property, and improving credit score. Chapter 13 bankruptcy allows individuals to repay their debt over a three to five-year period, with a payment plan established by the bankruptcy court. Filing for Chapter 13 bankruptcy will have a negative impact on credit score, but can also be an opportunity for individuals to start fresh and rebuild their credit. It's important to consult a knowledgeable bankruptcy attorney to determine if Chapter 13 is the right option.


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