Increase in Bankruptcy Filings There has a been a drastic increase in the number of consumers filing for bankruptcy in the first six months of 2010. This increase is seen in most of the 50 states but is most prevalent in the southwestern and southeastern portions of our nation. While these areas of the country [...]

It depends. If you are current on your mortgage and all of your other bills a short sale is probably the better option. It will drop your FICO (credit score) score 85- 160 points. You may be able to purchase a new home fairly soon after the sale – BUT it may be difficult to [...]

Consumer credit continues to decline.  There are two reasons for this.  The first is banks are reducing credit limits and squeezing any customer they view as possibly risky so they can reduce their risk.  The second reason is that consumers are not borrowing as much and are reducing their debt loads.  Jobs continue to contract [...]