Supreme Court ruling still allows stripping underwater second mortgage in Chapter 13 bankruptcy.
“In the affordable markets the millennials are already buying in huge numbers.” So says Jonathan Smoke, chief economist at realtor.com speaking at the National Association of Realtors last week. Even with student loan debt and a below par job market, he believes that these 18 to 35-year-olds are the home buyers of the future.
People with overwhelming debt are often faced with legal consequences. Bankruptcy is legal protection that helps them get a fresh financial start.