• Consumer Confidence Hits Lowest Level In More Than 2 Years

    The Consumer Confidence Index fell to 44.5 percent in August, a drop of nearly 15 points from a revised 59.2 in July. The Associated Press reported on August 30, 2011, that the sharp deterioration marked the lowest level for the number since the 40.8 reading in April 2009. Analysts had expected 53.3, according to the AP.

    The AP attributed the decline to a number of factors, including the Standard and Poor’s downgrading of the U.S. federal debt on August 5, 2011, and the Dow Jones industrial average’s four consecutive days of 400-point swings for the first time in its 115-year history during the following week.

    Consumers’ views on jobs are souring too with the unemployment rate stuck at 9 percent, according to the AP. The number of those who classify jobs as “hard to get” increased from 44.8 percent to 49.1 percent while the number identifying jobs as “plentiful” decreased from 5.1 percent to 4.7 percent.

    If you feel that your own confidence has been rattled by job difficulties and have questions about a bankruptcy means test or want Chapter 7 bankruptcy information , contact our Chicago bankruptcy attorneys today to help eliminate bills and stop foreclosure .

    Benjamin Brand Services – Chicago bankruptcy lawyers

  • $16 Million In Foreclosure Funds Still Available

    There are 1,944 former property owners who are entitled to a share of $16 million in foreclosure surplus funds due them, the Chicago Tribune reported on August 25, 2011. The office of the Cook County Clerk of the Circuit Court still has the sum sitting in an interest-bearing account two years after unveiling a search engine for former property owners to determine if they were entitled to those funds. The Tribune reported that now the office is teaming up with other county and state agencies to increase awareness.

    The goal of the Mortgage Foreclosure Surplus Fund Task Force, for instance, is to “encourage residential and commercial property owners who lost their real estate to foreclosure to check on their cases, even if they go back to the late 1990s.” The Tribune noted that if a foreclosed property was “resold at a court-ordered auction for more than the amount due on the mortgage,” state law requires that the original property owner is entitled to receive any surplus amount of more than $100.

    While one person is due funds as high as $450,000 on one commercial property, the average surplus is $2,000, according to the Tribune. There is no time limit for when people have to apply for the funds.

    If you are struggling through hard times and need foreclosure help today, you have many options available to you to try to keep your home and catch up on your mortgage. Contact our Chicago bankruptcy lawyers to obtain important bankruptcy information. Bankruptcy could save your home.