Although some economists say that the recession is over, there have actually been more foreclosures recently in some cities like St. Louis, Missouri. It has been hit really hard by the economic downturn, with thousands unable to find work. So, how bad were the foreclosure numbers in August, 2010?
2,297.
This is the highest number of foreclosures in a month in the history of this city. What is the reason? Why did this city survive the initial phases of the housing crisis but is getting hit hard right now? Many people say it's because people took out mortgages they couldn't afford, or were locked into a bad interest rate. Some economists think that more people are facing foreclosure because they haven't been able to get a new job. Unfortunately, many of the people who have lost their jobs suffer further when they can no longer make their mortgage payments and lose their homes.
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However, do they have to? Is there any way to get protection from foreclosure to keep your house? Most hard working people don't realize that they can talk to a bankruptcy attorney about getting protection from foreclosure--but that is exactly the kind of thing with which a bankruptcy attorney can help a family out.
Many folks think that it's better to walk away from their home because they have been mislead by bankruptcy myths. This could be financially disastrous. If you walk away from your house and it sells for less than you owe on your mortgage, you will owe a deficiency balance of the difference. One of the best things to do is to speak with a great bankruptcy lawyer that can help you decide if a Chapter 7 bankruptcy or Chapter 13 bankruptcy is right for you--helping you with credit card debt, and offering you protection from foreclosure and creditors. A bankruptcy can give you a new beginning where you will be able to get back your credit and prevent having to get protection from foreclosure again in the future.
Which sounds better: losing your home or getting protection from foreclosure by filing bankruptcy? If you make the choice to save your home, the next step you should take is to find a great bankruptcy attorney that will work for you to get your family protection from foreclosure, credit card debt help, and prevent wage garnishments. The best way to find the best bankruptcy attorney is looking for a bankruptcy lawyer that puts tons of free educational material about bankruptcy online. A fresh start is only a few steps away. Are you ready?
Is Bankruptcy Right For You? Talk to Bankruptcy Attorneys Free and Confidential. Licensed bankruptcy attorneys are available. Attorneys will call you to discuss your case for free. Find out if bankruptcy is right for your situation.
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