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August 26, 2009 | Tconsoli | Comments 1 | Filed Under: DailyGovernmentNewsWall StreetWorld

Seeking a Mortgage Modification? A Bankruptcy Filing Could Help

In today’s turbulent economy, consumers have to be proactive in taking care of their own finances. If your financial situation has dramatically changed since the purchase of your home (including job loss, unexpected expenses, extended illness, death of a breadwinning loved one or ballooning mortgage payments), you may be in danger of losing your home.

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  1. There are a number of potential alternatives to bankruptcy for individuals in financial difficulty. It is essential that when debtors contemplate these alternatives they examine the associations they are dealing with and make certain they don’t do something that puts them in a poorer state of affairs. Some bankruptcy alternatives may have an bearing on a later bankruptcy filing.

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