Learning that one might face foreclosure can be disheartening. Foreclosure occurs when a homeowner falls behind on his or her mortgage payments, usually for three months. It is not unheard of for some lenders to wait as long as six months before starting foreclosure proceedings, although it is not as common. There are alternatives to […]
Owing money is not necessarily an indication of poor financial decisions. Indeed, most people in Maryland would not be able to purchase a vehicle home without borrowing money to do so. Reasonable amounts of debt can quickly spiral out of control, though, and people of different ages borrow for different reasons to roughly 33% of […]
Carrying around debt of any kind is not easy, but it is fairly normal. Consumers in Maryland may have all types of outstanding debts, including mortgages and credit cards. When dealing with these debts becomes too much, it may be time to consider options like refinancing, debt consolidation or bankruptcy. The average homeowner has an […]
Struggling to pay off one’s debt is difficult enough without the added concern of having something repossessed. Unfortunately, this is a major concern with which many people in Maryland are currently dealing. It may be helpful to address some of these worries by differentiating between which debts actually put people at risk for repossession, and […]
Student loans have burdened almost an entire generation of Maryland students with decades worth of debt. Many borrowers do not even try to file for bankruptcy, while others buy into the myth that their student loans do not qualify for any type of relief. Although it might be the case that discharging student loan debt […]
No matter how tirelessly you may have worked, you might be at a point where you can no longer keep up with your business debts. This does not mean that it is the end of the road, though. You have the option to restructure your debt with Chapter 11 bankruptcy. Like many other people in […]
Many Maryland homeowners with federally backed mortgages have been able to take advantage of special forbearance programs through the 2020 CARES Act during the past year. While some are ready to resume payments once the forbearance period is over, others may be in the same — or worse — financial position as before. This has […]