Hoglund Law Blog

An Increase in Foreclosure Activity is a Good Thing It is certainly a very scary time receiving a notice of default and having to go through the process of foreclosure.  There are few things worse than losing one’s home.  However, an increase in foreclosure rates may be a sign that the housing market is on [...]

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During the second quarter of 2011, almost one third of all home sales were foreclosures. According to RealtyTrac Inc., foreclosure sales made up 31% of home sales during April through June 2011. A foreclosure sale occurs when a home is purchased after the owner receives a notice of default or when a home is repossessed. [...]

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According to the Mortgage Bankers Association, the number of borrowers who were late on their mortgage payments rose to 12.87% in the second quarter of 2011. Prior to the second quarter of this year, the number of homeowners who were delinquent on their mortgage payments had been decreasing for over a year. The 12.87% refers [...]

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When a person is in financial trouble, one way of dealing with creditors is negotiating a settlement where the debtor pays a lump sum to the creditor. Typically a debtor will offer a small percentage of what is owed to the creditor and the creditor will then accept the settlement and forgive the debtor for [...]

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Consumer Bankruptcies Decrease in July According to the American Bankruptcy Institute, consumer bankruptcy filings in July were down 18% from July 2010. Nationally, 113,470 consumer bankruptcies were filed in July of this year. In July 2010, 137,698 consumer bankruptcies were filed. The decrease in July continues the downward trend in bankruptcy filings in 2011. The [...]

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Burt Reynolds Facing Foreclosure Merrill Lynch Credit Corporation has sued Burt Reynolds over his Florida home. According to the lawsuit, the 75-year-old actor is behind $1.2 million on the mortgage for his home in Hobe Sound, Florida. Reynolds has not made a payment on the home since September 2010. BankAtlantic holds a second mortgage of [...]

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Much attention has recently been given to the disastrous bankruptcy filing of Denny Hecker. Clearly, the Hecker case is not a run of the mill case; however average individuals contemplating bankruptcy should take note of the things which got Mr. Hecker in hot water. These things can happen to average individuals as well. The most [...]

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A new set of rules regarding the impact of a bankruptcy on a mortgage modification has taken effect as of June 1. Under these rules, a bankruptcy will not disrupt a HAMP modification. Before this rule change, the filing of a bankruptcy would often disrupt the modification process. A modification typically will take several months [...]

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