Author Archives: Jay Butchko
How to Get Out of a Mortgage Loan That You Can’t Pay
Mortgage foreclosure is not a quick process, and that makes it even more painful. Much of the advice that you can find online is about how to stay in your house until the bitter end, trying to buy time until the bank, which now legally owns the house, can evict you. You might also… Read More »
Can You Afford to Hire a Debt Relief Lawyer?
If you are wondering whether you are legally eligible to file for bankruptcy protection, the answer is yes. Everyone, individuals and corporations alike, has the right to discharge eligible debts in bankruptcy court if they cannot repay them. The only exception is that, if you have previously filed for bankruptcy, you must wait several… Read More »
Should You File for Bankruptcy a Second Time?
Life is not a Monopoly game, and filing for bankruptcy does not mean that you are out forever. Instead, after the bankruptcy court discharges your eligible debts, or perhaps even before, you start looking forward to rebuilding your credit. Only a cynical person or the serial entrepreneur villain of an anti-capitalist webcomic would walk… Read More »
Who’s Afraid of Reverse Mortgages?
When you close on the purchase of a house, especially if you are a first-time homebuyer, you have high hopes about paying off the mortgage. You make a budget where you pay more than the minimum payment each month, thereby making a dent in the principal so that you pay less interest over time. … Read More »
Beware of Zero Percent Down Mortgages
Whether or not you were old enough to understand debt and financial risk when the 2008 housing market crisis happened, you were probably dismayed to hear about the people who borrowed subprime mortgage loans and then, to no one’s surprise, defaulted on them. How could anyone be so unscrupulous as to lend huge mortgages… Read More »
What Do the New Buy Now Pay Later Regulations Mean for Your Efforts to Get Out of Debt?
Is buy now pay later (BNPL) a financially sound choice for people who want to avoid racking up interest charges and credit card debt? Is it subprime lending that consumers choose because they do not have access to more affordable and less risky forms of credit? It is both. As with so many other… Read More »
Can a Short Refinance Keep the Foreclosure Notices Away?
Mortgage foreclosure does not happen overnight. To a pessimist, this means that it is an agonizing process where the mortgage lender swats at you for months while taunting you with promises that it will leave you alone if only you can find a way to pay an increasingly exorbitant amount of money by an… Read More »
Financial Stability Begins With a Bank Account
Every day, millions of Americans check their checking account balances, too busy worrying about how little money is in there to realize that a lot of people have it much worse. They might be dangerously close to having a negative balance, and the balance might even dip below zero for a short time until… Read More »
Cresco Couple Loses $45,000 After Home Improvement Contractor Bails on Project
Looking at price tags is not a pleasant experience these days. You would think that you would get used to fast food meals and children’s T-shirts costing double digits, but if you are older than 30, you can remember a time when ordinary items like these were more affordable, and the post-pandemic prices of… Read More »
Pennsylvania Man Who Previously Served Prison Sentence for Investment Fraud Gets Conviction for Home Contractor Fraud
Anyone who has ever tried to find a job after getting a criminal conviction can tell you how much people with prior convictions face an uphill battle; perhaps a prior conviction is even a factor in your own current debt problems or those of someone close to you. Sometimes people must enter an entirely… Read More »
