http://blog.totalbankruptcy.com/ en-us 2008-06-26T10:50:57-06:00 http://blog.totalbankruptcy.com/archives/mortgage-foreclosure-nevada-senator-calls-for-renewable-energy-in-housing-bill.html Nevada Senator John Ensign (R) has raised a fuss that may be delaying the housing bill being considered in the Senate currently. The bill is Congress' most comprehensive and ambitious response to the housing crisis, offering the chance for nearly 400,000 homeowners to trade mortgages with skyrocketing interest rates for fixed-rate packages with government-backed loans. Mortgage Foreclosure Editor 2008-06-26T10:50:57-06:00 http://blog.totalbankruptcy.com/archives/links-five-steps-to-debt-elimination.html If you're ready to put your debt behind you, take a look at Total Bankruptcy's latest pages on eliminating debt, which outline basic steps anyone can take to pay off debt and establish financial security. Links Editor 2008-06-26T10:32:53-06:00 http://blog.totalbankruptcy.com/archives/links-june-20th-total-bankruptcy-updates.html This week in Total Bankruptcy: what to look for before signing a credit card agreement, how bankruptcy is affected by the legalization of same-sex marriage, new reviews of debtor education courses -- and much more! Links Editor 2008-06-20T13:23:33-06:00 http://blog.totalbankruptcy.com/archives/links-this-week-from-total-bankruptcy.html Check out Total Bankruptcy's latest updates on mass layoffs and data breaches, as well as our tips for avoiding medical identity theft. Links Editor 2008-06-18T09:46:34-06:00 http://blog.totalbankruptcy.com/archives/bankruptcy-and-the-economy-tennessee-leads-the-country-in-bankruptcy.html A new report by the Federal Deposit Insurance Corp. indicated that the number of people in Tennessee who filed bankruptcy during the first quarter of 2008 was more than twice the national average. More people in Tennessee are filing bankruptcy than in any other state in the country although the number of people filing bankruptcy is up more than 25 percent nationwide. Bankruptcy and the Economy Editor 2008-06-17T10:53:32-06:00 http://blog.totalbankruptcy.com/archives/mortgage-foreclosure-detroit-foreclosures-become-farmland.html The strategies for dealing with a foreclosure on an individual basis are often little understood; yet, an even less understood phenomenon is how neighborhoods deal with a rash of foreclosures. Of course, abandoned homes that are untended start to reflect poorly on a neighborhood if enough of them accumulate. A glut of foreclosed homes can even begin to lower property values in a neighborhood. According to an NPR report, a group in Detroit called Urban Farming is taking a new approach to abandoned properties by tilling and planting the unused land, turning the spaces into urban gardens for food products. The group has worked with Wayne County to recycle, in effect, 20 plots in a pilot program that could expand if all goes as expected. Mortgage Foreclosure Editor 2008-06-16T09:48:23-06:00 http://blog.totalbankruptcy.com/archives/bankruptcy-news-and-events-favorable-changes-in-south-carolina-bankruptcy-law.html More people in South Carolina may begin filing bankruptcy because of a new state bankruptcy law. Some consumers who owe a large amount of credit card debt may have previously avoided filing bankruptcy due to income restrictions or for fear of losing their vehicles and other property. Bankruptcy News and Events Editor 2008-06-13T00:07:35-06:00 http://blog.totalbankruptcy.com/archives/bankruptcy-and-the-economy-bankruptcy-filings-up-nearly-31-percent.html Despite the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA) that went into effect on October 17, 2005, the number of consumers and businesses filing bankruptcy is on the rise. BAPCPA increased the fee to file bankruptcy and placed tighter limits on the income of those who are filing bankruptcy, but aside from a brief decrease in bankruptcy filings at the end of 2005, has done nothing to slow down the number of people and businesses who find that filing bankruptcy is their best option. Bankruptcy and the Economy Editor 2008-06-10T11:52:56-06:00 http://blog.totalbankruptcy.com/archives/financial-literacy-free-credit-scores-for-six-months.html TransUnion has recently settled a lawsuit with several disgruntled credit users and you can reap the benefits. As part of the settlement, TransUnion will be offering free credit SCORES for six months, beginning in mid-June. As you may know, free credit REPORTS are available at annualcreditreport.com, but learning your credit score costs money. As the settlement website explains, final details are not yet available, but will emerge soon. Financial Literacy Editor 2008-06-04T15:59:53-06:00 http://blog.totalbankruptcy.com/archives/credit-and-bankruptcy-ever-heard-of-an-application-for-debt.html How we talk about credit goes a long way in revealing our attitudes toward using it responsibly. From Urban Word of the Day comes a new term to describe the junk mail flood of credit card applications. Application for Debt: An of offer of credit from a financial institution. Wife: What did we get in the mail today? Husband: Just an Application for Debt. Credit and Bankruptcy Editor 2008-05-28T15:05:07-06:00 http://blog.totalbankruptcy.com/archives/mortgage-foreclosure-new-century-signed-contracts-limiting-number-of-bad-loan-rejections.html An NPR report on the mortgage crisis detailed how investment banks willingly and knowingly accepted bad loans--to the extent that they had hard numbers on what to accept and what to reject. Economist Dean Baker has the gory details: According to its report, one investment bank had a contract with New Century, a leading issuer of subprime debt, that it would reject no more than 2.5 percent of its loans. Of course, such a contract would be an invitation to submit bad loans. Mortgage Foreclosure Editor 2008-05-27T13:38:05-06:00 http://blog.totalbankruptcy.com/archives/credit-and-bankruptcy-consumer-credit-skyrockets-in-march.html The tough outlook for the economy has made many consumers feel the ill effects and caused them to make many changes in their day-to-day life. But according to new figures made available, via Bloomberg.com, many aren't quite ready to give up the affluent lifestyles to which they have grown accustomed. Credit and Bankruptcy Editor 2008-05-08T10:14:48-06:00 http://blog.totalbankruptcy.com/archives/mortgage-foreclosure-another-unintended-consequence-of-the-foreclosure-crisis.html The San Jose Mercury News is reporting that local health officials are worried about the potential for disease epidemics like West Nile Virus carried by mosquitoes. And where would mosquitoes carrying the deadly disease be likely to breed in record numbers? The swimming pools of foreclosed homes. Mortgage Foreclosure Editor 2008-05-07T17:01:37-06:00 http://blog.totalbankruptcy.com/archives/bankruptcy-news-and-events-supreme-court-ruling-modifies-bankruptcy-law.html The U.S. Supreme Court approved amendments to the Federal Rules of Bankruptcy Procedure on April 23, which are generally speaking a rubber stamp on rules implemented by bankruptcy courts across the nation in August 2005 as a result of BAPCPA. Congress must vote on approval of these measures in order to enact them as laws, and doing so would finalize the rules from their current provisional state. Bankruptcy News and Events Editor 2008-05-01T15:58:34-06:00 http://blog.totalbankruptcy.com/archives/credit-and-bankruptcy-student-lending-bill-passes-senate-unanimously.html Congress passes bills to address the expected shortage of student loans in the coming academic year. Agreement on a bill and a presidential signature are expected as early as this week. Credit and Bankruptcy Editor 2008-05-01T15:44:34-06:00