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Recent Bad Credit Bankruptcy Mortgage News:
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*TMZ is reporting that singer Tionne Watkins, a.k.a. T-Boz of TLC, has filed for bankruptcy. According to docs filed last month in U.S. Bankruptcy Court, T-Boz owes creditors $768,642.99 — mostly from mortgages on her $1.2 million house, the website reports. The documents also show she takes in $11,700 per month in income, with monthly [...]
James Surowiecki in The New Yorker on defaulting mortgages American Airlines recently filed for bankruptcy, though it had money to continue paying debts, because bankruptcy offered it strategic advantages. "But when it comes to another set of borrowers the norms are very different ... A good percentage of Americans are in much the same position as American Airlines: they can still pay their ...
I think the people that I am arguing with about "strategic mortgage default" are probably closer to my position than they think they are. Just to clarify a few things: 1. I do not want any ...
We normally say that a company “went bankrupt,” implying that it had no choice. But when, recently, American Airlines filed for bankruptcy, it did so deliberately. The airline had four billion dollars in the bank and could have kept paying its bills. But it has been losing money . . .
Dear Debt Adviser: I am emailing you in hopes of getting some honest advice. I recently owned a condo in Atlanta, and I financed it with two mortgages. I used a first mortgage and a home equity loan/line of credit. This was not my primary residence. I'm one of the many people who tried to rent out my condo because I couldn't sell and break even. Long story short: The bank foreclosed three weeks ...
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