Foreclosure rates have declined year-over-year, but are on the rise again

Currently the foreclosure starts is at its lowest, there has been a 2% increase between February and March. March onwards there has been a significant increase in 23 states. New York, Maryland and Washington are leading the pack with the most new foreclosure fillings.

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First quarter of 2013 has seen a fixed national rate of first-lien mortgage foreclosure starts. 15 states across the country showed a decline in new motions from quarter-to-quarter and, compared to the first quarter of 2012, foreclosure filings were down 23%. More recent activity shows a sharper decrease over a short amount of time, as first quarter 2013 new filings diminished 12% from the previous quarter.

Even though currently the foreclosure starts is at its lowest, there has been a 2% increase between February and March. March onwards there has been a significant increase in 23 states. New York, Maryland and Washington are leading the pack with the most new foreclosure fillings.

What happens in a foreclosure proceedings?

A foreclosure proceeding occurs when a lender files a lawsuit seeking to take possession of your home. After the lender commences the action, the borrower is given a limited time to reply. If the borrower fails to reply, a default judgment can be entered and ownership of the home transferred to the lender by the court.

Contact John M. Crane¹

If you have been served with a Summons and Complaint containing a foreclosure notice, you should act as quickly as possible to explore any foreclosure defenses you might have. You can contact foreclosure attorney, John M. Crane at 212-571-1898, 718-509-6542, 914-380-4209 or 914-481-3450. With the help of John Crane, you will receive the information, advice and solutions you need to avoid foreclosure, or if foreclosure is not avoidable, he can help you protect any and all rights you may have, including the right to sell your home if you have equity in it, a “short-sale” if it can be negotiated with your lender, or a deed in lieu of foreclosure whereby you can walk away from the home without any further obligations to your lender. For more details, visit www.johncranebankruptcy.com.

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Disclaimer: The contents of this page are general in nature. Please use your discretion while following them. The author does not guarantee legal validity of the tips contained herein.

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About the Author
1John M. Crane, Esq. has been licensed since 1997 and is a member of the National Association of Consumer Bankruptcy Attorneys. John M. Crane, P.C. is a full-service law office with a practice focused on Foreclosure Defense and Consumer Bankruptcy. The offices of John M. Crane, P.C. are located at PortChester, Queens, White Plains and New York. For further information, contact John M. Crane, Esq. directly at (914) 481-3450. You can visit the website http://www.johncranebankruptcy.com/.

you can view the original source of this article at http://www.xvarticles.com/foreclosure-rates-have-declined-year-over-year-but-are-on-the-rise-again/

Kodak Redefined, exits Bankruptcy Chapter 11

Kodak has taken a U-turn from the road to bankruptcy. Kodak’s restructuring has helped them to escape from bankruptcy Chapter 11. They are now a commercial imaging company serving business markets like packaging and graphics.

Kodak chairman and chief executive, Antonio M. Perez, has assured that the company is on track for profitable growth.

Kodak was founded by George Eastman in 1880 and it was famous for its cameras and films. Now it hopes to replace them with new technologies like touch screens for smartphones and smart packaging embedded with sensors.

Kodak was credited with popularizing photography and the beginning of 20th century but started to struggle towards the end of the century, first because of the competition from Japanese companies and then failing to react quickly to the shift from film to digital photography.

Increasing competition, digital photography and debts compelled Kodak to file for bankruptcy Chapter 11 last year. The financial crisis of 2008 and the resulting spike in interest rates left many company’s pension obligations underfunded. These obligations along with other costs, Mr. Perez said eventually resulted in the January 2012 bankruptcy filing. Revenue dropped from about $13.3 billion in 2003 to $6 billion in 2011.

Under court oversight, Kodak continued reducing costs by every means. It reduced businesses and work force. It closed its consumer business and sold an online photo service. It spun off its personal and document imaging business to its pension plan and sold out many of its patents.

The company emerged from bankruptcy with about 8,500 employees. Revenue is expected to a total $2.7 billion this year.

John M. Crane, P.C. – Bankruptcy Attorney, New York

John M. Crane, P.C.1 is a full-service law office with a practice focused on Foreclosure Defense and Consumer Bankruptcy. Whether a Chapter 7 or Chapter 11, all information you provide will be handled confidentially and professionally. John M. Crane, P.C. is a member of the National Association of Consumer Bankruptcy Attorneys (NACBA).

Unlike a large law firm, John M. Crane, P.C. provides personal attention to each and every client. You will meet only with John, be walked step by step through the entire process, and understand what is going on at all times. There are alternatives to bankruptcy, and they discuss all your options and then give their recommendation as to which one is best for you.

To understand John’s consultative approach towards providing bankruptcy and foreclosure avoidance solutions, you can call him directly at (914) 481-3450. Call today, and ask your questions about Chapter 7, Chapter 11, and any questions in between. For more details, visit www.johncranebankruptcy.com.

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Disclaimer: The contents of this page are general in nature. Please use your discretion while following them. The author does not guarantee legal validity of the tips contained herein.

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1. John M. Crane, P.C. : John M. Crane, P.C. has been licensed since 1997 and is a member of the National Association of Consumer Bankruptcy Attorneys. John M. Crane, P.C. is a full-service law office with a practice focused on Foreclosure Defense and Consumer Bankruptcy. The offices of John M. Crane, P.C. are located at PortChester, Queens, White Plains and New York. For further information, contact John M. Crane, P.C. directly at (914) 481-3450. You can visit the website http://www.johncranebankruptcy.com/.

The Original Source of Article at http://www.xvarticles.com/kodak-redefined-exits-bankruptcy-chapter-11/

New York Restaurateur Jason Denton Files For Bankruptcy

New York’s Chef and restaurateur Jason Denton, who owns a number of New York City restaurants, has filed for bankruptcy. He is the owner of Catina Corsino Italina and other Manhattan eateries. He opened too many restaurants as the Great Recession struck.

43 year old Denton filed for bankruptcy on 27^th August, 2013 in Manhattan federal court, citing liabilities totaling $1.37 million.

He expanded his number of restaurants at the time when the economy was in trouble. When the financial crisis hit, he was overexpanded.

Denton, who partnered with celebrity chef Mario Batali in 1999 to open Lupa Osteria Romana in the West Village, has had several eateries close in the past year, including 'ino in the West Village and Betto in Williamsburg, according to reports.

His lawyer said the bankruptcy would not affect Denton’s remaining restaurants.

John M. Crane, P.C. – Bankruptcy Attorney, New York

John M. Crane, P.C.¹ is a full-service law office with a practice focused on Foreclosure Defense and Consumer Bankruptcy. Whether a Chapter 7 or Chapter 11, all information you provide will be handled confidentially and professionally. John M. Crane, P.C. is a member of the National Association of Consumer Bankruptcy Attorneys (NACBA).

Unlike a large law firm, John M. Crane, P.C. provides personal attention to each and every client. You will meet only with John, be walked step by step through the entire process, and understand what is going on at all times. There are alternatives to bankruptcy, and they discuss all your options and then give their recommendation as to which one is best for you.

To understand John’s consultative approach towards providing bankruptcy and foreclosure avoidance solutions, you can call him directly at (914) 937-7272. Call today, and ask your questions about Chapter 7, Chapter 11, and any questions in between. For more details, visit www.johncranebankruptcy.com.

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Disclaimer: The contents of this page are general in nature. Please use your discretion while following them. The author does not guarantee legal validity of the tips contained herein.

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1. John M. Crane, P.C.: John M. Crane, P.C. has been licensed since 1997 and is a member of the National Association of Consumer Bankruptcy Attorneys. John M. Crane, P.C. is a full-service law office with a practice focused on Foreclosure Defense and Consumer Bankruptcy. The offices of John M. Crane, P.C. are located at PortChester, Queens, White Plains and New York. For further information, contact John M. Crane, P.C. directly at (914) 481-3450. You can visit the website http://www.johncranebankruptcy.com/.

The Original Source of Article at http://www.xvarticles.com/new-york-restaurateur-jason-denton-files-for-bankruptcy/