In today’s economy, no matter where you look, more and more homeowners are facing foreclosure. And, this is certainly the case in Massachusetts, where the foreclosure rate is at an all-time record high. Foreclosure can bring with it many factors. First, most homeowners are fearful of the public embarrassment that comes with having your financial troubles published in the local newspaper for all to see. Second, the worries about what to do financially become overwhelming. And, finally the thought of being rendered homeless is too much to bear for anyone. So, what are your options when facing foreclosure in Massachusetts? Put simply:

YOU HAVE 4 OPTIONS

1. PAY- You could immediately pay Thousands of dollars to pay off the outstanding mortgage arrearage and bring your mortgage current. But, if that really was an option you would have done that already.

2. SELL- You could sell your home immediately before the foreclosure date. But, in this economy, that’s not really an option.

3. SAVE YOUR HOME- You could save your family home today by simply filing a Chapter-13 Bankruptcy. This type of Bankruptcy establishes a payment Plan between the debtor and the creditor that is monitored by the U.S. Bankruptcy Court.

Debtors can keep their homes, property and possessions, but must make reasonable payments according to the Court’s terms over a 3 or 5 year period. Chapter 13 Bankruptcy allows a homeowner to immediately stop a mortgage foreclosures

4. ELIMINATE DEBT - You could walk away from your home, and all of your debt, and get a fresh financial start by simply filing a Chapter-7 Bankruptcy. If you determine that you cannot afford, or do not want to keep your house, you can eliminate all debt and put this foreclosure behind you forever.

By filing a Chapter 13 Bankruptcy you are able to immediately:

STOP Harassing collection calls

STOP Foreclosure actions

STOP Repossessions

STOP Wage garnishments

STOP Law suits & Court appearances

STOP Bill & collection actions

STOP Property attachments

STOP Feeling overwhelmed

However, even with the considerable benefits, many people considering Bankruptcy are afraid take the first step because they fear they may risk losing their assets and personal possessions. Please know that almost everyone that files Bankruptcy keeps all of their assets. Indeed, you could:

KEEP Your home

KEEP Your car & motorcycle

KEEP Your modest bank accounts

KEEP Your retirement accounts (pensions/401k/IRA)

KEEP Your personal property and possessions

KEEP Your Recreational vehicles

KEEP Your sanity and dignity

You now have a possible option to allow you to keep your home. If you want to get started in the right direction, contact FAMILYLEGAL today to schedule a FREE initial Consultation with one of our Bankruptcy Attorneys at one of our Ten (10) convenient office locations. There is no obligation. However, this FREE initial Consultation allows our Attorneys the opportunity to review your current situation, and offer you appropriate and effective options to meet your needs.

www.Callfamilylegal.com

New Hampshire 1-877-357-2255

Massachusetts 1-888-725-1114

Maine 1-603-742-7500

Rhode Island 1-781-849-7777

It’s been years since rogue mortgage market collapsed causing our economy to tailspin out of control. The government promised a quick turn-around after gifting away hundreds of billions of dollars to these same mortgage lenders in hopes of bolstering the devastated financial markets. However, here we sit, as the nation’s housing prices continue to fall; and the flood of foreclosures is only getting worse.

The foreclosure crisis is said to be the “second-biggest drag on the economy after the surge in oil prices,” says Moody’s Analytics chief economist Mark Zandi. Over the last four years some 5 million homes have been lost to foreclosure. Zandi indicates that the immediate future is bleak and we may see as much as another 3 million foreclosures in the next three to four years.

These foreclosed homes have caused a serious glut of unsold homes that further serve to drag down the housing market. The end result is that falling home prices have caused an evaporation of household wealth which has only served to reduce overall consumer spending. Indeed, with each new foreclosure the ever-increasing glut of unsold properties on the market pushes market prices even lower. As the prices decrease, people are pushed underwater financially. “There’s 14 million people now underwater. Half of those are underwater by more than 30 percent”, says Zandi.

However, the response from the government has been viewed as limited and ineffective. Initially, they touted their foreclosure relief program, the Home Affordable Modification Program (HAMP) as the necessary relief to address the situation. However, their remains confusion over the Program’s terms and its overall effectiveness. This, coupled with the fact that mortgage lenders simply do not want to comply with the Program, nor do they want to forgive any loan principal , has resulted in a situation where there is little hope of immediate recovery.

(Source: http://www.msnbc.msn.com/id/42881365/ns/business-personal_finance/#)

You now have a possible option to allow you to keep your home. If you want to get started in the right direction, contact FAMILYLEGAL today to schedule a FREE initial Consultation with one of our Bankruptcy Attorneys at one of our Ten (10) convenient office locations. There is no obligation. However, this FREE initial Consultation allows our Attorneys the opportunity to review your current situation, and offer you appropriate and effective options to meet your needs.

www.Callfamilylegal.com

New Hampshire 1-877-357-2255

Massachusetts 1-888-725-1114

Maine 1-603-742-7500

Rhode Island 1-781-849-7777

Do lenders view Chapter13 Bankruptcy more favorably than foreclosure? For the answer, we can look at the underwriting standards of Fannie Mae or Freddie Mac backed mortgage loans.  If you file for Bankruptcy, you only need to wait Four (4) year after Bankruptcy to qualify for a Fannie Mae or Freddie Mac mortgage. But if you lost your home to foreclosure, you may need to wait up to Seven (7) years after the foreclosure to qualify for these government backed mortgages.

This is understandable, because one of the reasons that many mortgage lenders favor debtors who filed for Chapter 13 Bankruptcy over those who allowed their property to go into foreclosure is because repaying a mortgage in Bankruptcy shows that you have every intention of repaying your debt. Additionally, a Chapter 13 Bankruptcy filing shows that you were willing to face the reality of your financial situation and made secured debt, such as your mortgage, a priority. In Chapter 13 Bankruptcy unsecured debt (debts that are promises to repay, such as credit cards, personal loans, etc.) can often be partially or fully eliminated allowing a debtor to avoid foreclosure and commit more of their financial resources to repaying a mortgage.

While it may not be possible for every debtor to remain in their home through Bankruptcy, filing bankruptcy can offer many other options. For example, a debtor who files for Bankruptcy may be able to convince the lender to allow them to sell the property in a short sale or return the property in what’s called a deed-in-lieu of foreclosure. Whichever process the debtor chooses it will be more manageable for both themselves and their creditors in Bankruptcy.

You now have a possible option to allow you to keep your home. If you want to get started in the right direction, contact FAMILYLEGAL today to schedule a FREE initial Consultation with one of our Bankruptcy Attorneys at one of our Ten (10) convenient office locations. There is no obligation. However, this FREE initial Consultation allows our Attorneys the opportunity to review your current situation, and offer you appropriate and effective options to meet your needs.

www.Callfamilylegal.com

New Hampshire 1-877-357-2255

Massachusetts 1-888-725-1114

Maine 1-603-742-7500

Rhode Island 1-781-849-7777

As adults, the outcome of facing financial stress can be overwhelming. Disputes over money and financial issues often lead to broken marriages, arguments, substance abuse, and sometimes even violence. However, as we can all agree, our first priority must be our children. And, navigating such financial stress when it involves children can be that much more difficult. Parents are always concerned that they can’t give their children as much as the next, at least financially. Or, they worry that their financial problems will render them homeless and, as a result, they may lose their children.

But Bankruptcy can often change much of the concerns and get a family pointed in the right direction. But, for those deciding to go through Bankruptcy, it is especially important to work with your children to make sure that the entire family is on the same page when it comes to financial recovery. Below are a few tips:

1. Be honest with your children about the Bankruptcy filing.  Make sure that you tell them in age appropriate ways why you’re filing Bankruptcy, how Bankruptcy will help the family and what type of financial adjustments the family will need to make.
2. Try to keep a routine during your Bankruptcy case.  This is important for those involved in both Chapter 7 and Chapter 13 filings. Once you make adjustments to your family budget try to stick with a routine. For example, if you take the family out for dinner once a week, try to continuing without disruption.
3. Get a plan for housing and try to keep the housing situation stable during Bankruptcy. Nothing impacts a child’s sense of safety more than a secure place to live.  Bankruptcy debtors with children should make sure that they have solid plans for housing. If you plan to surrender your home in Bankruptcy, make sure that you find appropriate housing as soon as possible and avoid bouncing from place to place with children.
4. Bankruptcy debtors with children should try to keep their kids in the same school district so they don’t need to change schools in the middle of the year.
5. If a Bankruptcy debtor has been forced to change their kids’ school in the middle of the year they should make sure the child remains in contact with old friends.

If you are facing Bankruptcy and want to get started in the right direction, contact FAMILYLEGAL today to schedule a FREE initial Consultation with one of our Bankruptcy Attorneys at one of our Ten (10) convenient office locations. There is no obligation. However, this FREE initial Consultation allows our Attorneys the opportunity to review your current situation, and offer you appropriate and effective options to meet your needs.

www.Callfamilylegal.com

New Hampshire 1-877-357-2255

Massachusetts 1-888-725-1114

Maine 1-603-742-7500

Rhode Island 1-781-849-7777

Driving is probably the most dangerous thing most of us will ever do. According to the National Highway Traffic Safety Administration (NHTSA), in 2008, there were more than 5.8 million police-reported traffic crashes in which 37,261 people were killed in the United States. These are alarming statistics that make you understand why you need to be prepared in case you are ever involved in such an accident.

Automobile accidents are never planned and occur in the most unexpected manner. Often, an individual involved in an accident is inexperienced with such matters and is left confused as to what their next step should be. Obviously it is hard to think clearly after a car accident so it is important to know before you get into an accident what to do first and what questions may need answered. This checklist will help you know what to do after a car accident. It is best to review it now and then print it out and keep a copy with you in your car.

Never Admit Fault

Immediately after an accident it’s only quite natural to say things like “I am sorry,” “I am not hurt,” “It’s not your fault,” and “I am fine” to the other party involved. But these words may become a nightmare to you if a claim is filed as a result of the accident. No matter what happens, don’t ever admit you were at fault in the accident. This isn’t so that you can get away with something that you did but it’s to protect you in the event your memory of events or your understanding of who is at fault is incorrect. The police and the insurance companies can sort out responsibility as they know all the laws.

Don’t Get Out

If there is smoke or fire coming from your car, or if you are in a dangerous situation, get out immediately and get to safety. If everything seems to be fine, just sit for a minute and collect your thoughts. You may have gotten a concussion or hurt yourself so you don’t want to be moving around too much unless it’s absolutely necessary. Take this time to collect your thoughts, try to figure out what happened, and look at the other driver. If the other person looks furious, unbalanced, whatever… lock your doors, call the police immediately. Your immediate safety comes first in this situation.

Call The Police

If there is any noticeable damage to any of the vehicles involved, or if anyone has sustained any injury, call the police immediately. If you need emergency assistance, such as a tow, call the police before you call a tow. If the accident is severe, you’ll want the police to write a record and issue a ticket. The ticket is an indication of who the police find at fault, having one of those makes it much easier to deal with insurance companies. Police can also diffuse hot tempers. If the other person looks like they’re going to do something, you’ll want the police there.

Speak Very Little

It is important that you do not talk about who did what with regard to the manner in which the accident happened. This is because such discussions might lead to heated arguments and you might end up admitting details which might become a problem in the future. “I am not sure” is a safe answer to give because details revealed make the difference of winning or losing in accident claims.

Get Driver’s License & Insurance Information

When you collect the other driver’s information, copy down everything from the other operator’s drivers license. You’ll want everything from the state it’s issued to their address to the ID number. There is no such thing as having too much information. Also remember to get their phone number as well, confirm if you must (call them). Get all of their insurance information as well (ask for a card, not just for them to recite it). Also get the make, model, and license plate of their car. If you have any problems, call the police if they aren’t there already.

Call Your Insurance Company

If you have comprehensive and collision insurance, which is insurance for your own vehicle in an accident, call your insurance company and let them know what happened. They are responsible for paying for the repairs on your car if the other driver is found to be not at fault, which means they will work hard at proving the other driver is at fault (if they are). This ultimately means less work for you, so take advantage of it (you are paying them for this anyway!).

Take Photos Of The Accident Scene

Immediately after the accident, before any vehicles are moved, is the best time to take photos of the scene. You can use any camera accessible, including a cell phone camera. Take pictures of how and where the vehicles came to rest. Take pictures of all vehicles involves and of any visible damage to the vehicles. Take pictures of license plates of the vehicles involved and of possible witnesses. Take pictures of the individuals involved.

Try To Locate Witnesses At The Scene

Immediately after the accident, ask who saw the accident. Ask them what they saw in detail. Get contact information from witnesses that support your version of how the accident occurred. This may assist the police and insurance companies involved in determining the responsible party.

Never Sign Anything

If someone asks for your signature at the scene of the accident, refuse point blank. Do not sign anything before consulting an experienced Personal Injury Attorney.

Do Not Discuss Your Injuries In Specific Terms

If you have been injured, and are in need of immediate emergency medical attention, you will need to provide the medical professionals with specific details as to your injuries. When discussing your injuries, express it strictly in medical terms. Terms like “whiplash’ should be avoided. Do not give anyone your opinion about the injuries. Leave the opinions and conclusions to the medical professionals..

Stay Organized

Organize your information relating to your accident and injuries. Maintain a journal with photos of the accident scene, the after effects of your injuries you sustained from the accident, and the date and time of your doctor’s appointments.

Final Note

After the accident, you may want to speak with an experienced Personal Injury Attorney about your rights after the accident. If you want to get started in the right direction, contact FAMILYLEGAL today to speak with a Personal Injury Attorney in your area. FAMILYLEGAL offers FREE advice over the phone and a FREE initial Consultation with one of our Personal Injury Attorneys at one of our Ten (10) convenient office locations. There is no obligation. However, this FREE initial Consultation allows our Attorneys the opportunity to review your current situation, and offer you appropriate and effective options to meet your needs.

www.Callfamilylegal.com

New Hampshire 1-877-357-2255

Massachusetts 1-888-725-1114

Maine 1-603-742-7500

Rhode Island 1-781-849-7777

Please take a few minutes to explore the Biographies of our highly skilled and experienced Personal Injury Attorneys. If you are facing personal injury issue and think that the Attorneys at FAMILYLEGAL could be of assistance, we encourage you to Contact us to schedule a FREE initial Consultation

Can Bankruptcy Really Help Me Keep My House?

Foreclosure, it’s happening all around us. Our friends, family members, neighbors and co-workers are facing foreclosure. The loss of a home can be emotionally and financially devastating. And, because it happens within a public forum, it can be extremely embarrassing to adults as well as any children involved. When faced with foreclosure, a home owners first thought is almost always, “what can I do to keep my house?” And this is to be expected. Our home is our place of refuge and peace from the outside world. It’s where we raise our families and build memories. When our home is attacked it can touch us at our emotional core. So, when you are months behind on your mortgage, what are your options to save your home?

The options available to home owners facing foreclosure are limited. First, the most obvious option is that you can pay your mortgage company a large chunk of money to bring your mortgage payments current. However, if this really was a viable option it is expected you would have already made the payment. Typically, the only other option would be to use current Bankruptcy laws to immediately stop the mortgage company from foreclosing and to establish a viable re-payment plan.

Specifically, a home owner would file a Chapter 13 Bankruptcy in a situation where they are facing foreclosure and want to keep their home. This type of Bankruptcy allows individuals who have a steady source of income to establish a payment Plan with their creditor(s) that is monitored by the U.S. Bankruptcy Court. The home owner can keep their home, property and possessions, but must make reasonable payments according to the Court’s terms over a 36 month (3 year) or 60 month (5 year) period. By filing a Chapter 13 Bankruptcy you can immediately halt a mortgage foreclosure and an automobile sale or repossession, thus allowing individuals to retain valuable personal property. And, the monthly payments on unsecured debt can be appreciably reduced so that they are much more affordable, if not erased altogether.

You now have a possible option to allow you to keep your home. If you want to get started in the right direction, contact FAMILYLEGAL today to schedule a FREE initial Consultation with one of our Bankruptcy Attorneys at one of our Ten (10) convenient office locations. There is no obligation. However, this FREE initial Consultation allows our Attorneys the opportunity to review your current situation, and offer you appropriate and effective options to meet your needs.

www.Callfamilylegal.com

New Hampshire 1-877-357-2255

Massachusetts 1-888-725-1114

Maine 1-603-742-7500

Rhode Island 1-781-849-7777