Estimates are that more than half of the homes in Arizona are underwater, meaning the amount owed on the mortgage balance exceeds the current value of the property. A homeowner that wants to sell an underwater home is faced with the unpleasant task of bringing money to the table in order to pay off their…
We have heard of attorneys encouraging people to max out their credit cards before filing bankruptcy. Our attorneys strongly disagree with this advice for several reasons. First it is dishonest. Some people would say that filing bankruptcy is dishonest in itself, so why not get as much out of it as you can. Filing bankruptcy…
When you think of Arizona being in a desert, you usually don’t worry about a home being “underwater”. However, if you happen to be among the thousands of Arizona homeowners that purchased a house between 2001 and 2006 your home may very well be underwater! These days “underwater” means that the remaining balance on your…
Our nation has just experienced an historic drop in the market value of real estate. The so called “Real Estate Bubble Bust” has wiped out trillions of dollars in perceived value in real estate and has resulted in a gross devaluation of both residential and commercial real estate. The vortex of price deflation has caused…
During this down economy, the real estate values have declined drastically. This has caused many to find themselves in an upside- down house. This means that a home’s value is less than the mortgage owed. Unfortunately, this is causing some to walk away from their home without looking for possible solutions to their financial situation.…
The dreaded “b” word is tossed around today like a baseball on the practice field. But we’re not talking baseball are we? We’re trying to avoid the topic of bankruptcy, a legal proceeding where a person can find a fresh financial start. Unfortunately it often comes with the social stigma that the person considering bankruptcy…
During this time of heightened concerns over COVID-19, The Carroll Law Firm, PLC is open and can provide telephonic appointments for many types of consultations.