Bankruptcy

So You Think It's a Good Time to Buy a House?

By Bill McLeod, Esq.

Contrary to what you may hear in advertisements, 2009 may not be a good time to buy a home unless you are planning on living there for several years. This bit of news is not actually a huge shock for me, but it is not helpful for several of my clients whose success depends ? at the very least ? on people buying real estate in 2009.

This is again, another reason why we need meaningful reform out of Washington soon. Undoubtedly, the proposed changes to the Bankruptcy Code which would allow judges to reduce mortgages of consumers could help. But some contend that the reform will accelerate ?lenders' losses on home-equity, automobile and credit-card loans.? I?m not so that is a particularly bad thing.

About 10 years ago, I had abdominal surgery. As luck would have it, one of the sutures that was designed to dissolve didn?t. Instead, it got infected. It was very painful.

Admittedly, I?m a big baby when it comes to pain (my staff will back that up). This pain was far too much to handle?.so my friend put me into a cab and we went to the emergency room. When the doctor came in, he examined the incision, looked at me square in the eye and offered these words:

Full post as published by McLeod Law Offices on January 12, 2009 (boomark / email).