Bankruptcy Indiana

Here it is the middle of December already.  Looking back, I realize this year's been different from the other twenty three during which I've offered Indiana bankruptcy services to so many thousands of people.

As in former years, the bankruptcy law offices of Mark Zuckerberg offered many kinds of help.  I am a debt consolidation lawyer, an Indianapolis bankruptcy attorney, and a Columbus bankruptcy lawyer. I offer payday loan debt help, and my team and I help with personal bankruptcy and small business bankruptcy in Indiana.

In 2009, though, in addition to all these services, I've spent a lot of time following the debate in Congress about "mortgage cramdowns".  I had hoped that, by now, new legislation would be in place allowing bankruptcy judges to modify mortgages.  That has not happened.  However, the government did institute several programs to encourage lenders to work with homeowners to avoid foreclosures.   This has proven to be a very cumbersome, slow process, so, this year, I, along with my associates, have worked very hard to help homeowners go through the process of requesting modifications to their mortgages.  Is hasn't been easy, to say the least.

Just a couple of weeks ago, USA Today ran a feature story about mortgage modifications, commenting on how the non-responsiveness of the servicing companies has "dragged out the timeline". In my letter to the editor of that newspaper, I explained that in the last couple of weeks alone, I had had several cases where weeks and months elapsed after clients had submitted mortgage modification paperwork, only to have the mortgage company claim they'd lost the papers.  After resubmitting the application, and more weeks of delay, clients were told they'd been turned down for mortgage modification.  By that time, not only was it too late to save the home from foreclosure, it was also too late to take advantage of certain bankruptcy remedies, I explained to the readers.

"Should not improving the efficiency of the mortgage modification process take center stage - and quickly, including allowing mortgage "cramdowns" by judges?" I asked.

Gratified that my letter made it into USAToday, I can only hope that many other voices will make themselves heard, so that mortgage modifications can be more effective - and a lot more timely!.