Monday, November 3, 2014

Market Watch - "... zombie foreclosures ..." up in New Jersey and "Philadelphia (5,405)"

Image courtesy of franky242 at
"Zombie foreclosures rise in 16 states and 60 metro areas"
Market Watch
Even as the economy seems to be getting better, people are still leaving their homes before the foreclosure is complete. I know most clients are just trying to do the right thing and also trying to avoid additional embarrassment by leaving their homes before the sheriff shows up. But leaving your home could be a missed opportunity to help get you back on your feet. If you stay in the house and keep it in reasonable shape, you are helping the mortgage company to some degree and saving money for yourself.

Also, it helps limit new debt. As long as you "own" the house, you remain responsible for assessments, home owners' association fees and possibly other liabilities. Don't make a bad situation worse. It pays to plan your exit from your home during these trying financial times.

#bankruptcy #Chapter_7 #Chapter_13 #Montgomery_County #law_firm #Bucks_County #Pennsylvania

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