Economic Outlook

Some reports have shown sectors of the economy improving.  For example, and this varies by location, but it is generally accepted that the housing market is improving.  But even that is not enough to jump start the economy, and it is of no help to some people who have seen huge losses in the amount of equity in their properties, as stated in a recent article.  Every situation is different, presenting different problems and opportunities.

If you have a question, contact us.  Knowledge is power.


Foreclosure Defense

There have been and continue to be a series of mistakes made by banks on the course of their efforts to foreclose on properties.  Some of these mistakes continue to take place, as set forth in a recent article.  In some cases, this situation can present itself with opportunities for borrowers to try to negotiate a deal with a lender.  But this area of the law, having its roots in old established case law, is too complicated for a non-lawyer to consider self-help remedies.

Knowledge is power.  If you need help, contact us.

No Immediate Relief on Mortgages

As shown in a recent article, certain mortgage debt held by Fannie Mae or Freddie Mac will not receive the benefit of principal reductions in getting relief to make their mortgages more affordable.  This does not apply to everyone – just those whose mortgages are held by Fannie Mae and Freddie Mac.  Also, this does not prevent people from being creative in trying to make mortgages more affordable for people in trouble, but it certainly doesn’t help.

Knowledge is power.  Contact us for information if you need help or if you think that you might need help.

Downgrade for the Banks

More trouble for the economy?  Now, after hurting the consumers’ credit ratings for so long, while at the same time hurting their own balance sheets, it appears that certain banks are getting a taste of their own medicine.  Moody’s has recently downgraded the credit worthiness of certain banks, as described in a recent article.

What does this mean to individuals and businesses?  It may mean that getting loans may get tougher, as banks raise funds to lend out to third parties.  It could mean that banks will start liquidating collateral faster to get cash in and then to seek to lend it in more profitable ways.  In any event, it’s not good, and affects all of us.

Knowledge is power.  Contact us to see what we can do to help you.


While foreclosures were down for the first quarter of this year, according to recent figures in an article in the Boston Globe, foreclosures in Massachusetts are back up in number.  There is no doubt that there is still a long way to go for recovery and balance in the economy.  But people need to know their options.

Knowledge is power.  Contact us to get information.


It’s not a good thing for any one individual to go through.  But the truth is that foreclosures are on the rise again, as the article describes.  Careful planning is important for anyone going through the process, whether or not the plan is to save the house, to sell it, or to let it go.  There are consequences often not considered without professional advice, from deficiency claims and lawsuits to tax implications.

Knowledge is power.  Contact us with any questions that you may have.

Bankruptcy Filing Numbers

Well, it appears that the number of cases being filed in 2012 is down from 2011.  This is based upon information in a report issued by the US Courts through March 2012.

What does it mean?  Unemployment is still up.  Real estate prices are not going up as foreclosures continue to rise in order to relieve the backlog of distressed properties on the market, as stated in a recent article.  Although interest rates are down, that is little help when there is no equity in properties

The reality may be tough for anyone.  There is still a long way to go.  If there are questions that we can answer for you, please contact our office.

Knowledge is power.