Debt Relief Options in AtlantaWhether it is to discharge a mortgage, credit card debt, or student loan debt, citizens of Atlanta are often searching for debt relief options. The most popular type of a debt relief option is a settlement with a creditor. In a settlement, a debtor and creditor negotiate a payment amount that is less than what is originally owed. Of course, such settlements can be troubling for the impact on a credit score they might cause. With mortgages various kind of refinancings remain popular. With student loans there are different sorts of repayment plans possible -- Standard; Graduated; or Income-Based. To learn about more debt relief options, a debtor might consider getting some credit counseling or simply making a budget. As for those people who have exhausted the various debt relief options and are considering a Chapter 7 or Chapter 11 bankruptcy to stave off creditors, they should probably speak to a competent Atlanta Bankruptcy attorney. |
It is still not great news for Atlanta homeowners as home prices dropped in November in most U.S. cities including Atlanta, reports the Associated Press.
In the Standard & Poor/Case Shiller Index, home prices were down in 19 out of the 20 cities and steepest decline was in Atlanta. In fact, home prices in Atlanta are at their lowest since the housing crisis began.
Home prices in Atlanta are back to 2003 levels.
This week President Obama announced the formation of a mortgage crisis unit which will be chaired by New York attorney general Eric Schneiderman, reports the Huffington Post.
The move has special significance because of the impact on a possible deal between America’s mortgage servicers and the states’ attorneys general.
With all of this tumult in the mortgage industry, many people still struggling to figure out their mortgage situation will be wondering how long it takes to process a foreclosure.
The answer, according to CNN Money, might surprise you:
An extremely elderly 103-year-old Atlanta woman, Vinia Hall, was supposed to be evicted from her home, but Fulton County Sheriffs refused to evict her, reports the Atlanta Journal-Constitution. The centenarian lived at the home with her 83-year-old daughter Kathelyn Cornelius.
Vinia Hall's house, on Penelope Road, has been her home for 50 years. It is currently in its second mortgage.Hall's grandson took out a second mortgage on the house from Deutsche Bank National Trust. The loan was eventually administered by Chase, reports WSBTV.
Seven years later Deutsche foreclosed on the property and expected the local law enforcement to carry out the eviction — but they had a change of heart when the moment for the 103-year-old woman's eviction came about.
The student loan debt bubble, which comes out to something like $1 trillion dollars, is making prospective students question ivy league diplomas and their worthiness, reports the Wall Street Journal.
Smart students -- both in terms of finances and academics -- are starting to wonder if they should take a big debt for their undergraduate education when they will have to take even larger debt for their post-graduate education, such as medical school or law school.
The students the Journal profiled are not particularly happy about having to forego getting a degree from a name school, but they seem to recognize the fact that student loan debts cannot be forgiven in a bankruptcy and can sometimes be with you for the rest of your life.
Although the protestors at Occupy Atlanta have been kicked out of Woodruff Park by riot police before, now Occupy Atlanta is trying to stop a Snellville police officer's home foreclosure, reports the Atlanta Journal-Constitution.
The family home, which belongs to a woman named Tawanna Rorey, became a cause for Occupy Atlanta, when Rorey's husband, a law enforcement officer in DeKalb County, emailed the movement for help, reports the AJC.
Despite the fact that declaring bankruptcy on student loan debts is more or less impossible, many new college loans for Georgia students were made available recently, reports the Atlanta Journal-Constitution.
The deadline for the second round of the Student Loan Access Program was on Monday. The loans carry a 1 percent interest rate, and are meant to fill financial holes for those that have exhausted other options (to become massively indebted).
Student loans are a big problem in this country and in Georgia. Currently America’s total outstanding student loan debt is more than $1 trillion dollars. And declaring bankruptcy on student loan debt is often not possible, reports FindLaw.
With many students worried about their finances, President Obama put forward a plan to help student debtors, reports Reuters.
On a day where President Obama is floating a plan to help homeowners on the verge of foreclosure, a couple of Georgia congressmen have their own ideas.
The HOME Act, sponsored by Senator Johnny Isakson and Representative Tom Graves, allows homeowners to withdraw up to $50,000 from a 401(K) without paying the normal 10 percent penalty for early withdrawals, reports the Atlanta Journal-Constitution.
Occupy Atlanta in Woodruff Park, part of the protests emerging from the national Occupy Wall Street movement, has been asked to leave by Mayor Kasim Reed, reports CBS Atlanta.
Mayor Reed said that the protestors must go by 5 p.m. on Monday October 17, but that the deadline wasn't a hard one, the mayor said.
In a national study about foreclosure filing rates, Georgia had the dubious honor of coming in 4th, reports the Atlanta Journal-Constitution.
The state with the most foreclosures was Nevada, where one of every 44 homes showed a foreclosure filing during the third quarter of 2011. California was second, with one for every 88 homes. Arizona was third, with one of every 93. And the state with the most foreclosures on the east coast was fourth, with one out of every 121 homes. The numbers were compiled by RealtyTrac of California.
