W. Sean Mawhinney Law Blog

What Is A Secured Debt and What Happens to My Secured Debt If I File Bankruptcy?

If you are considering bankruptcy you might be worried about what will happen to your house or your car.   “Secured debts” in bankruptcy, are debts that are backed by collateral.  For example, if you bought a house in Salt Lake City, Utah, and you owe money on that house, chances are that the debt... Read More

KSL reported last month that Utah home values are continuing to drop, according researchers at Zillow.  Increasingly, homeowners owe more on their homes than their homes are worth. 

 At the Law Office of W. Sean Mawhinney, we know how stressful it can be when you get underwater in your home.  Many feel like they cannot take another job, move, or afford their housing... Read More

If you cannot keep up with your mortgage payments or need to move for some other reason, and you still owe more on your home than its current valuation, you may want to consider a Utah short sale. A short sale occurs when you sell your home for less than the total amount owed on all mortgages, and the mortgage holders agree to accept the sales proceeds and write off the... Read More

NEW YORK (CNNMoney.com) -- Bank of America is halting foreclosure sales in all 50 states as part of a widening investigation into flaws in the process, the company announced Friday.

The announcement came a week after the nation's largest bank said it was freezing home foreclosures in 23 states where foreclosures must be approved by the courts. The latest move by... Read More