Mortgage Defaults Continue to Rise
By admin | June 27, 2008
The New York Times reports that 1 out of 11 mortgages in the U.S. are in default. The mortgage defaults have risen every quarter since the end of 2006 and show no signs of slowing down. Falling home prices contribute greatly to foreclosures. Homeowners who
owe more on their loan that their homes are worth are more likely to default. Ohio, Kentucky and Indiana continue to rank among the states with the highest mortgage default rates.
Patrick J. Conway, Attorney at Law
Mark E. Godbey & Associates
708 Walnut Street, Suite 600
Cincinnati, Ohio 45202
(513) 241 - 6650 phone
(513) 241 - 6649 fax
Topics: Bankruptcy, Borrowers, Financial, Foreclosure, Lenders, mortgage | No Comments »
Higher Defaults Expected in a Variety of Loans
By admin | June 27, 2008
CNN Money.com reports that defaults are increasing on credit cards and auto loans. Even prime mortgage defaults are on the rise. Experts attribute the increased defaults to factors. Declining values on real estate, trucks and large vehicles is one. Record fuel
prices and tightening credit also contribute to higher defaults. Home owners are finding it more difficult to borrow against their homes to catch up payments. Experts predict that defaults on payments to continue for the next year.
Chapter 13 bankruptcy can help by consolidating debts into a single payment that you make each month. The court protects you from your creditors while you pay back a portion of your debts.
Patrick J. Conway, Attorney at Law
Mark E. Godbey & Associates
708 Walnut Street, Suite 600
Cincinnati, Ohio 45202
(513) 241 - 6650 phone
(513) 241 - 6649 fax
Topics: Bankruptcy, Borrowers, Credit, Financial, Foreclosure, Lenders, mortgage | No Comments »
Undocumented Immigrants - Illegal Aliens in Cincinnati
By admin | June 27, 2008
In the past decade, a large influx of immigrants — many Hispanic and many illegal — has expanded from traditional polyglot cities into the suburbs, exurbs and even rural areas of America. This has produced a backlash, especially since the terrorist attacks of Sept. 11, 2001, made immigration a national security issue.
There are now an estimated 12 million undocumented immigrants in the United States. What should the U.S. do with them? The nation is engaged in a heated and divisive debate, one that crosses all lines of party and ideology.
The Bush administration, business groups and some immigrant advocates argue that the U.S. economy demands immigrant labor, and by denying those workers legal status, the government is fostering a shadow sub-class subject to abuse. Restrictionist groups contend that so many illegal workers depress wages and are causing a culture clash. They oppose legalization and argue that tougher enforcement measures can slowly force these immigrants out of the country.
For two years, Congress has debated and failed to pass a sweeping immigration overhaul. More and more states and localities are stepping into the void with their own proposals, though many have been blocked by the courts as unconstitutional.
A panel of experts took on the issue Oct. 9 as part of the Intelligence Squared U.S. series. The proposition was “Let’s Stop Welcoming Undocumented Immigrants.” In an Oxford-style debate modeled on a program begun in London in 2002, three panelists argued for the proposition and three against.
The debate was held at the Asia Society and Museum in New York City and was moderated by John Hockenberry, a former reporter with both National Public Radio and NBC News, and co-host of an upcoming public radio program produced by WNYC.
Some highlights from the debate:
Daniel T. Griswold, director of the Cato Institute Center for Trade Policy Studies, says: “There are two powerful economic and demographic trends, two very positive ones, that are driving low-skilled immigration to the United States. On the demand side, our economy continues to create hundreds of thousands of net new jobs every year for low-skilled workers in fields like retail, cleaning, landscaping, food preparation. And at the same time, the supply of Americans who traditionally filled these jobs — Americans without a high school diploma — has been dropping steadily. … So we have a structural mismatch between demand and supply in our economy. And yet there’s no legal channel for a peaceful, hardworking 24-year-old Mexican or Central American to come into the United States legally and fill these jobs that there are simply not enough Americans there to fill.”
Enrique Morones, president and founder of Border Angels and human rights activist, says: “Half of the undocumented people are not from Mexico. They come from other parts of the world for economic opportunity. They assimilate. They learn the language, just like … you did in the many years that you’ve been here. There was a man that said, ‘They’re not learning the language, they’re not assimilating. They want to just practice their own culture. We gotta stop them.’ That man was Benjamin Franklin, talking about the Germanization of the United States. This has been going on for many, many years. There’s 200 million-plus undocumented people in the world. Only 4 percent of them live in the United States and of those 12 million, a third of them came here legally and their visas expired — work, tourist or student visas.”
Karen K. Narasaki, president and executive director of the Asian American Justice Center, says: “We are not arguing for open borders, and we are not arguing that our laws should not be enforced. What we are saying is let’s be smart. Let’s talk about what laws need to change, so in fact they are enforceable and they make sense. Laws only function when they are humane. And right now, our immigration laws are not humane, and they do not make sense. … We don’t provide a realistic number of visas or permanent green cards. The backlog for spouses and children to join with a legal permanent resident is now five to 10 years. Is that smart? … How many people would wait 10 years to be with their spouse or child? … The number of visas available for temporary, low-skilled workers is 5,000 a year. Now we could debate what the numbers should be. But I think most of you would find it strikingly unrealistic to say that 5,000 is the right number.”
For more information and audio links, go to http://www.npr.org/templates/story/story.php?storyId=15317839
Joseph H. Spring, Esq.
MARK E. GODBEY & ASSOCIATES
708 Walnut Street, Suite 600
Cincinnati, Ohio 45202
(513) 241 - 6650 phone
(513) 241 - 6649 fax
Topics: Illegal aliens, Immigration, Undocumented immigrants | No Comments »
Housing Prices Continue to Fall
By admin | June 10, 2008
According to the New York Times, housing prices in March were over 14% less than March of last year. The problem stems from too many houses for sale and not enough people able to buy them. The situation may continue to get worse as increased foreclosures add even more houses to the market. The last time there were this many houses for sale was in the early 1980s. At that time, the country was mired in a deep recession. Bankruptcy can help if you decide you no longer want to keep your home. It can also help you catch up missed mortgage payments if you fall behind.
Patrick J. Conway, Attorney at Law
Mark E. Godbey & Associates
708 Walnut Street, Suite 600
Cincinnati, Ohio 45202
(513) 241 - 6650 phone
(513) 241 - 6649 fax
Topics: Bankruptcy, Borrowers, Foreclosure | No Comments »
Mortgage Help Fails to Reach Many
By admin | June 10, 2008
If you are behind on your mortgage payments, don’t expect help from the federal government. According to a recent study, fewer than 2,000 homeowners at risk of foreclosure have received help from the Federal Housing Administration (FHA). President Bush announced the program, known as FHA Secure in August. Only 1,729 delinquent mortgages were refinanced under the program.
Patrick J. Conway, Attorney at Law
Mark E. Godbey & Associates
708 Walnut Street, Suite 600
Cincinnati, Ohio 45202
(513) 241 - 6650 phone
(513) 241 - 6649 fax
Topics: Bankruptcy, Borrowers, Financial, Foreclosure, Lenders | No Comments »
Bankruptcy Trustee Sues Countrywide
By admin | March 10, 2008
The US bankruptcy trustee in Atlanta sued Countrywide Home Loans in federal bankruptcy court. Countrywide is one of the largest mortgage lenders in the country. The suit charges the mortgage company with questionable conduct related in dealings with a chapter 13 bankruptcy case. The US trustee contends that Countrywide charged improper fees and falsely claimed the borrowers were behind on their payments. The trustee also charged that Countrywide wrongfully accepted payments on the mortgage from the Chapter 13 office after the loan was paid off.
Patrick J. Conway, Attorney at Law
Mark E. Godbey & Associates
708 Walnut Street, Suite 600
Cincinnati, Ohio 45202
(513) 241 - 6650 phone
(513) 241 - 6649 fax
Topics: Bankruptcy, Borrowers | No Comments »
In Part of the U.S., Foreclosures Top Sales
By admin | March 10, 2008
According to the New York Times, in some parts of the country, more foreclosures are filed than houses sold. Lenders filed 153, 745 in January alone. The West is the region hardest hit by foreclosures. Ohio remains a state with one of the highest foreclosure rates in the country.
Patrick J. Conway, Attorney at Law
Mark E. Godbey & Associates
708 Walnut Street, Suite 600
Cincinnati, Ohio 45202
(513) 241 - 6650 phone
(513) 241 - 6649 fax
Topics: Foreclosure, Lenders | No Comments »
Butler County Immigrants Beware!
By admin | March 7, 2008
Butler County Sheriff, Rick Jones, has again grabbed front-page attention in the local media for his latest attack on the immigrant population of Butler County. No longer content to simply enforce Ohio law, Mr. Jones now wants to be in charge of deporting people as well.
As reported by the Cincinnati Enquirer, Sheriff Jones recently had eight of his deputies trained by the federal government so that they can initiate deportation proceedings against people who Sheriff Jones suspect may be illegal aliens. After a training program of just a few short weeks (paid for by taxpayers), these deputies may now attempt to initiate deportation proceedings against anyone in the Butler County Jail at Sheriff Jones’s direction. This new power means that immigrants in Butler County could face the possibility of deportation proceedings after being charged with nothing more than a speeding ticket.
Sheriff Jones says he has no intention of taking such actions over minor offenses “just yet.” However, that does not appear to be true. Every day, Immigration and Customs Enforcement (ICE) Agents call the Butler County authorities to ask whether they should come to process anyone for deportation. Where is the office for Butler County ICE agents? In Sheriff Jones’s backyard - the old Butler County Jail.
Now, more than ever, immigrants charged with crimes in Butler County need skilled legal representation to help them through difficult situations like this. If you or someone you know is in trouble, please feel free to call Mark Godbey and Associates at (513) 241-6650. We offer a FREE consultation to discuss the case in detail, quote fees, and advise you about the best way to handle your situation. Then you can decide if you would like us to help you. We have an attorney who is fluent in Spanish if you need translation help and we offer weekend and evening appointments at offices conveniently located in both West Chester and Cincinnati.
Blake P. Somers, Attorney at Law
Mark E. Godbey & Associates
708 Walnut Street, Suite 600
Cincinnati, Ohio 45202
(513) 241 - 6650 phone
(513) 241 - 6649 fax
Topics: Deportation, Illegal aliens, Immigration, Legal Help, Undocumented immigrants | No Comments »
New Bankruptcy Legislation Moving Forward
By admin | November 26, 2007
Congress is advancing legislation that enables bankruptcy judges to rewrite residential mortgages. Under the proposed law, bankruptcy judges have the power to change interest rates and limit the amount of mortgages to the fair market value of the
residence. Sponsors of the legislation see this as a boon for the 600,000 homeowners who face increased payments on adjustable rate mortgages. Legislation is pending in both the House and Senate.
Patrick J. Conway, Attorney at Law
Mark E. Godbey & Associates
708 Walnut Street, Suite 600
Cincinnati, Ohio 45202
(513) 241 - 6650 phone
(513) 241 - 6649 fax
Topics: Bankruptcy, Credit, Lenders, mortgage | No Comments »
Ohio is Number 1 in…
By admin | September 18, 2007
…Foreclosures!
When you think of Ohio, what do you think of? Football? The Ohio River? Lake Erie? The Buckeyes? Well, add this to your list: Home Foreclosures.
In Ohio, more than anywhere else in the United States, people are losing their homes. In the first six months of 2007, Ohio recorded 44,594 foreclosures. The state’s foreclosure rate has been higher than the national average for every quarter since the end of 1998. Ohio has had more home foreclosures than any state except Florida and California.
While the exact reason for this phenomenon isn’t certain, several factors play key roles: Ohio’s sagging economy, unwise investments by mortgage brokers, and increased payments under adjustable rate mortgages (ARMs). An estimated $14 billion in Ohio ARMs will see their rates adjust over the next five years. It’s possible that many people with ARMs will see their monthly mortgage payments nearly double in the near future.
If you are behind on your home payment and the bank is threatening foreclosure, give us a call to speak with an attorney about your legal rights and options.
Joseph H. Spring, Esq.
MARK E. GODBEY & ASSOCIATES
708 Walnut Street, Suite 600
Cincinnati, Ohio 45202
(513) 241 - 6650 phone
(513) 241 - 6649 fax
Topics: Bankruptcy, Credit, Foreclosure, Lenders | No Comments »
« Previous Entries
Call us today for a free initial consultation.
Evening and weekend appointments available.
Mark Godbey & Associates
|
Cincinnati Office 708 Walnut Street, Suite 600 Cincinnati, Ohio 45202-2022 Fax (513) 241-6649 E-mail Us Driving Directions |
| Butler County | Warren County | Northern Kentucky |
| (513) 777-1701 | (513) 933-9500 | (859) 344-LAWS (5297) |
