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Nextage Realty Professionals

Foreclosure or Personal Bankruptcy?

By Jerry Cecil, on January 17th, 2009

Bankruptcy or foreclosure  That’s the sad question that many homeowners in the Prescott Arizona area are facing these days.  Unfortunately, the answer is not a simple one.

Are your trying to save your home or your credit score?  If your are trying to save your home and if  you have managed to stay current on your mortgage payments but [...]

Posted by Jerry Cecil January 17, 2009, 9:55 am

Chapter 7, Chapter 11, Chapter 12, Chapter 13

By Jerry Cecil, on January 16th, 2009

What’s with all these chapters anyway?

According to the U.S. Department of Justice there are four kinds of personal bankruptcy and you can choose the kind of bankruptcy that best meets your needs (provided you meet certain qualifications):

Chapter 7 “ A trustee is appointed to take over your property. Any property of value will be sold or [...]

Posted by Jerry Cecil January 16, 2009, 7:09 am