There’s no one size fits all answer, but the general rule when it comes to reaffirming mortgage debt in bankruptcy is “don’t.” Reaffirming mortgage debt is great for the lender. For the bankruptcy petitioner though, reaffirmation of mortgage debt generally leads to increased future risk and increased attorney fees. In other words, there’s little or… Read more »
During August 2018, one in every 1,456 homes in Ohio received a foreclosure filing, according to RealtyTrac.com. This was worse than the national average of 1 in every 1,882 homes, and placed Ohio just outside the top 10 states with the worst rates of foreclosure. Foreclosure in Ohio is a judicial process by which a… Read more »
Last updated May 14, 2018. You’ve fallen behind on your mortgage and now your home is in foreclosure. At the sheriff’s sale, the bank will try to sell the home for as much as it can get. If it sells for less than you owe, you may be liable to pay the difference. But what… Read more »
The mortgage market is a sensitive and complicated system. It reacts to any number of factors, including interest rates, housing purchases, and general economic outlook. It’s been in turmoil since the 2008 crisis and is still in the process of finding a new equilibrium. Last week was particularly tumultuous. What does all this turbulence mean… Read more »
What is HARP? Does it apply to me? HARP or the Home Affordable Refinance Program, began in 2009 as part of the Making Home Affordable Program in response to the housing market crisis of 2008 by the Federal Housing Finance Agency (FHFA) and the U.S. Treasury Department. HARP allows borrowers, with loans owned by Fannie… Read more »
Last updated Oct. 30, 2017. You probably already know that filing for bankruptcy is going to affect your credit score. Most people emerge from bankruptcy with a credit score in the range of 500 out of a possible 850. Your credit score affects your ability to borrow and the rate you’ll be able to get…. Read more »
Last updated March 29, 2018. When a family member dies, there are often many tasks that need to be performed to put all of the deceased’s affairs in order. There may be a will to file with a probate court; there may be property to dispose of, bank accounts and charitable donations to take care… Read more »
Last updated Feb. 26, 2018. Your home is one of your largest assets. Your mortgage is probably the largest loan you’ll ever take out. If you’re struggling to pay your bills, it’s also probably your biggest worry. Bankruptcy might be your best option, but what happens to your home when you file? Keeping Your House… Read more »
Last updated Dec. 29, 2017. “Foreclosure” is simply a term used to describe the legal process used by your mortgage company, or any other mortgage lender (such as a bank), to take possession of your home. A foreclosure is really just a lawsuit in which the mortgage company is suing you to take your house…. Read more »
Last updated March 29, 2018. The foreclosure process is complex and intimidating. When will you have to leave? When is it too late to reverse the process? How long does foreclosure take in Ohio? If you’re worried about losing your home to foreclosure, check out this guide to the foreclosure process in Ohio. Ohio Foreclosure… Read more »
Russ B. Cope is dedicated to legal standards that go far beyond filing cases — he is interested in your goals. Russ wants to be certain that each client is making an informed decision that will make their life better, and thrives on the interaction between lawyer and client.
