The economy is still slowly recovering from the 2008 housing crisis; hundreds of thousands of US homes go through foreclosure every year. A new movie by Adam McKay, writer and director of Anchorman and Talladega Nights: The Ballad of Ricky Bobby, tells the story of how the housing crisis happened. It’s called The Big Short.
When you file a bankruptcy, you have the choice to surrender your home or try to continue making mortgage payments and keep the home. Most filers who wish to keep their homes will file under Chapter 13, where their mortgage payments can be incorporated into their overall debt payment plan. When you’re in the process
When you complete a bankruptcy, your unsecured debts are discharged. Unsecured debts are those that aren’t connected to any particular piece of property, like credit card debt, medical debt, and personal loans. Your secured debts, however, are not discharged. Secured debts are linked to a particular piece of property, like a mortgage or a car