Holidays Offer Little Minnesota Bankruptcy Relief

Despite the upbeat nature of the holiday season, Minnesotans can’t escape the news that home prices in the state continue to drop. Between September and October prices in Minneapolis dropped 2.8 percent after showing some strong gains during the summer buying season. Overall prices in Minneapolis are down 8.4 percent for the year.

According to the Minneapolis Star Tribune, some of the decline can be attributed to a typical seasonal slowdown in the sale of homes, but that overall the housing market remains anemic at best. Sales of previously occupied homes are barely ahead of 2008, the worst year for sales in 13 years.

Prices are also expected to continue to decline once the banks resume foreclosures which have stalled for the year while the industry faces investigations related to lending practices. Meanwhile, high unemployment and weak job growth have deterred many potential home buyers and others simply can not meet the newer restrictive lending requirements.

The struggle facing Minnesotans in this economy and in this housing market is the same struggle facing millions of Americans. So if you and your family realize you just simply keep up with your bills now may be the time to ask for some help from professionals who know the law and know how to help struggling families get back on their feet again.

The experienced bankruptcy attorneys at Lord & Faris are just those kinds of professionals. Our team will sit down with you and help you decide whether filing for bankruptcy is a necessary step forward. If it is, then we will advocate on your behalf with the court and your creditors for a resolution that is fair and straightforward.

These are tough economic times for this country and the court system may not always seem like a system designed to help the average Minnesotan. Let us help.

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