Social Security Disability Fund is Projected to Dry Out in 2016

Social Security's disability fund is projected to dry out in 2016 and Social Security's retirement fund is projected to pay full benefits until 2035 if nothing is done to fix this problem.  (Source: Sacramento Bee/Associated Press)  It should be clear by now that you should save towards retirement because you should not depend on social […]

Home Prices in Modesto and Stanislaus County California outpaced the rest of California in 2014 Creating Challenges in Bankruptcy Filing Qualification

While it is good news that home prices in Modesto and Stanislaus County, California outpaced home prices in the rest of California in 2014, it creates challenges for homeowners with unmanageable debts.  The median home price sales in Modesto and Stanislaus County, California was $220,100 in November, 2014, about 19% more than in November, 2013. […]

Medical Bills is the Leading Cause of Personal Bankruptcies – Sacramento Ranks Poorly among California Counties

It might surprise you to hear that medical bills is the leading cause of personal bankruptcies.  Sacramento County ranks poorly among California counties in hospital readmission and hospital admissions.  Emergency room visits are high in Sacramento California with an average rate of 290 of every 1,000 patients annually compared to statewide 228 of every 1,000 patients emergency room […]

Rising Home Prices in Sacramento Creates Challenges to Bankruptcy Filing

Home prices in the Sacramento California region rose by about 6 percent during the last 12 months.  The median home price in the Sacramento region sold for $320,000 in May, 2015 according to Zillow.com. Higher home prices means more equity in your home if you are not underwater on your mortgage.  If you have overwhelming […]

Must Both Spouses File Bankruptcy Together to Stop Foreclosure or Eliminate Debts?

The answer is no.  Either spouses can file for bankruptcy on their own.  However, many times it is better that both spouses file for bankruptcy together.  This decision should be made with an experienced and knowledgeable bankruptcy attorney. Even if one spouse is filing bankruptcy, information about the other spouse's assets and income are required […]

Can Bankruptcy Change the Terms of My Mortgage?

Bankruptcy will not affect the terms of the mortgage.  A Chapter 13 Bankruptcy can put the delinquent mortgage payments in a repayment plan over the course of 3 to 5 years.  However, you must continue to pay the monthly mortgage payment as they become due.  Bankruptcy will not force the lender to reduce the interest […]

What are My Options to Get Out of My Foreclosure?

Although foreclosure rates has drop in California cities like Sacramento, Roseville, Rocklin, Stockton, Modesto, Tracy, Vacaville, Vallejo, Woodland, and Fairfield, it is still a real threat for many homeowners throughout Northern and Central California.  There are many routes that you can take to resolve your foreclosure problem.  However, you must act quickly because some of these […]

Rising Home Prices in Sacramento Reduces “Underwater” Homeowners from 50% to 17% means Lower Foreclosures in Sacramento But Difficulties in Removing Junior Liens in Bankruptcy

In just 2 years from 2012 to 2014, home prices has risen in Sacramento California by about 40%.  Putting it in another perspective, in 2012, about half of homeowners in Sacramento could not sell their home because they owe more than what it was worth (their homes are "underwater").  In 2014, 17% of Sacramento homeowners were "underwater" […]