As of now, foreclosed homes are selling at nearly a 27 percent discount compared to homes that are not distressed. However, some states are seeing a larger discounted rate than others. In 10 states, the discounted rated was nearly 35 percent lower than homes not in distress. The largest discounts are seen in Illinois and [...]
The number of bankruptcy filings in the northern Ohio area down from last year at this time. Cleveland has seen a decrease of 10 percent from the period of January to April 2010 and Akron has seen a 20 percent decrease from the same time. This is an improvement from last year, but those who [...]
Although it has been four years since the mortgage lending sent the housing market into a downward spiral resulting in a wave of foreclosures, the issue is not showing signs of stopping. Because housing prices are falling, it is leaving some homeowners owning more than their homes are currently worth. The issue of shoddy documents [...]
Franciscan Services Corp., has recently acquired a Twin City hospital that has been struggling with debt for quite some time. The hospital filed for bankruptcy in October 2010 and this deal was just settled for $4.9 million in the U.S. bankruptcy court. The 25-bed hosptial is going to be turned into a "Catholic critical-access" hospital. [...]
Foreclosures in the state of Ohio were down 33 percent in the month of April. This new report was released by a California-based foreclosure tracker and it found that 7,962 properties in the state received some type of action, default or repossession notice. These notices are down 33 percent from April 2010 and down 13 [...]
Creditors with the Rookwood Corp., who operated Rookwood Pottery, have filed a bankruptcy petition just days before all of the company's assets were to be sold at an auction. The pottery company's auction automatically got put on hold after the filings were done. The corporation has 21 days to file a response, according to the [...]
Harry & David, although they have filed for bankruptcy, are looking to hire 1,000 seasonal workers to fill the call center. The company previously closed the call center and began to outsource the company's call center, but this plan did not work out so they are back in Ohio at this time. The company previously [...]
Many people struggle with debt in America and feel as if they have no options, but this is not true. If you are in this situation, bankruptcy may be the best idea for you and your family. There are different types of bankruptcy including Chapter 7 bankruptcy, which is mistaken to be a liquidation bankruptcy [...]
The number of homes sold in Central Ohio have increased from this time last year. In the north central area of Ohio, 125 homes and condominiums were sold, which is a 19 percent increase from March 2010. This area had to highest increase in the state of Ohio. Although the amount of homes sold increased, [...]
If you have a Blockbuster gift card, it may now be worthless because of the bankruptcy filing done by the company. One woman, a customer at Blockbuster for 20 years, attempted to use her gift card to pay for videos and found out that it was completely worthless. The bankruptcy filing discontinued the gift card [...]
This week, Maronda Homes of Florida has filed for bankruptcy protection in the U.S. Bankruptcy Court. Maronda Homes, Marondo Homes of Florida and Maronda Homes of Ohio all filed for bankruptcy and asked the court to be able to continue operations while the deal with lenders is worked out. According to the company, they owe [...]
For the number of filings that have been made in the first three months of the year, Ohio has been ranked the 12th highest in foreclosure rates in the nation. RealtyTrac Inc. announced that the number of foreclosure rates has risen 13 percent from February to March. This has been the highest increase in over [...]
Millions of Americans struggle with debt every year. During this stressful time, many people do not know what their options are or how they can get out the problem. There are options, and for those who are eligible, Chapter 13 bankruptcy may be the best choice. Chapter 13 bankruptcy can help you rid your debts [...]
Sbarro Inc., the popular pizza chain, has filed for Chapter 11 bankruptcy in order to restructure and cut the company's $200 million debt. The New York-based company is hoping that this will cut their debt to $175 million. The chain has 32 stores in Ohio and has a store in almost every central Ohio Mall, [...]
In the last month, the bankruptcy filings in the Toledo area have decrease by nearly 17 percent. Reports show that this is also the seventh month in a row where a decrease has been seen. In the month of March, there were 880 new bankruptcy cases filed in the U.S. Bankruptcy Court in Toledo. This [...]
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