The North Carolina Bankruptcy Information Blog

During the mid-2000s, housing prices reached stratospheric levels with mortgage lenders more than willing to be liberal with their loans, selling the idea of the “home as American Dream” to anyone who would listen—whether they were qualified or not.  But, if the recent housing crisis has taught us anything, it’s that home ownership isn’t always what it’s cracked up to be.

So, after the recent mortgage meltdown, many are wondering: “where do we go from here?”

That’s the very question asked in a recent report by NPR. In it, correspondents found that after two decades of expansions in home ownership—fostered by government mortgage guarantees by the now much-maligned likes of Fannie Mae and Freddie Mac—many policymakers are looking at housing finance reform as a top priority to the nation’s prospects for economic recovery.…

So the impact of your bankruptcy is settling in. You have mixed emotions but underneath, feel confident that it was the right thing to do. The phone has stopped ringing, the mailbox delivers good news (for the most part) and best of all, you can sleep again.

Now that it’s time to get back on track, saving money should be a top priority. And one way to do that is by examining what it takes for you to keep a roof over your head every month, even if you managed to avoid foreclosure. Today, thanks to the real estate crisis which saw developers nationwide building new home homes and apartment communities on every plot of improvable land, it is a buyer’s market.…