• New Employment, Construction Reports Offer Hope

    There were a couple signs of hope for the economy as new claims for jobless benefits hit a seven-month low and permits for future home construction rebounded strongly in October, Reuters reported on November 17, 2011. The Labor Department said initial claims for state unemployment benefits fell 5,000 to a seasonally adjusted 388,000, while the Commerce Department said permits for residential construction rose 10.9 percent to a seasonally adjusted annual rate of 653,000 in October.

    While the news is not cutting into the 9 percent unemployment rate, Reuters noted that it was the second straight week that initial claims have held below the 400,000 mark “normally associated with some healing in the jobs market.” Furthermore, the four-week moving average of claims, considered a better measure of labor market trends, was the lowest since April after falling 4,000 to 396,750.

    These figures would hopefully indicate more people getting back to work and hopefully less people needing foreclosure help . However, Reuters noted that there are still 6.77 million people who were claiming unemployment benefits during the week ended October 29 under all unemployment programs. Homeowners facing foreclosure because of a job loss need to understand that they still have options while the economy slowly makes a recovery. Let our Chicago bankruptcy attorney show you how you can keep your home and reestablish credit by filing Chapter 7 or Chapter 13 bankruptcy.

    Benjamin Brand Services – Chicago bankruptcy lawyer

  • Do Not Get Tricked Into Paying For Mortgage Help

    Despite the fact that they had only owned their condo for two months, Joyce Thompson and her husband, Paul English, received what the Chicago Tribune described  as an “official-looking letter with the words ‘foreclosure sale pending’ on the envelope” with the letter including the address of their condo and an auction date. The Tribune reported on November 15, 2011, that while the letter from a company called Expert Legal Helpers warned “your home will be sold and you will be evicted from your property,” it also stated “we will have authorization to postpone the sale of your property once we are contacted.”

    When Thompson called the company, she told the Tribune that it “sounded like a boiler room – lots of people talking in the background.” She listened to a salesman’s pitch for a few minutes before hanging up, telling the Tribune she suspected it was a scam.

    Deceptive letters such as the one Thompson and English received are becoming commonplace as more and more con artists seek to take advantage of the millions of Americans needing foreclosure help . The Tribune noted that market researcher RealtyTrac found foreclosure filings rose in the third quarter, with 1 in every 213 properties nationwide facing default notice, auction or bank repossession.

    The Tribune also noted that the Federal Trade Commission enacted a rule that forbids companies from charging up-front fees for mortgage assistance, called the Mortgage Assistance Relief Services Rule. Homeowners facing legitimate foreclosure need to know that our Chicago bankruptcy lawyer can not only provide a free initial consultation, but also help you keep your home through a Chapter 7 or Chapter 13 bankruptcy filing.

    Benjamin Brand Services – Chicago bankruptcy attorney