If you want to file bankruptcy and no longer be responsible for a mortgage, this is often possible. However, many mortgage companies have begun refusing to foreclose because they realize that they will likely end up owning the home and they do not want the risks and responsibilities that come with home ownership. This is especially true with cases that include condominium units in less […]
Any agreement between a homeowner and a contractor must be put in writing, shall be filled in and signed by the contractor or its salesperson in at least triplicate, on a form which has all blank spaces filled in with easily legible writing and the contractor or salesperson has submitted to the owner the completed contract or other document and given the homeowner a reasonable […]
A couple of common misperceptions of the bankruptcy process are that: 1. a person filing bankruptcy has to give up their property or that 2. a person filing bankruptcy can keep an unlimitedamount of property and not have to repay debt. The reality is that you can generally keep all property which you can exempt and which is not the subject of a lien (i.e. […]
A “pay-when-paid” clause in a construction contract is a provision that applies the payment terms of the contract between the property owner and the general contractor to the contract between the general contractor and sub-contractor. Often times, a general contractor will use this clause as a basis for refusing payment to a sub-contractor because the general contractor claims it has not been paid for the […]