From New York Mets Star to Bankruptcy

Former New York Mets star Lenny Dykstra filed bankruptcy in July 2009 after not being able to pay back loans totaling more than $20 million. Recently Dykstra was charged with grand theft and bankruptcy fraud. According to a statement by prosecutors, Dykstra, a former baseball outfielder, was taken into custody at his Encino home. The […]

Aftermath of Solyndra’s bankruptcy

A component of the American Recovery and Reinvestment Act of 2009 was the Innovative Technology and Loan Guarantee program. This program set aside $6 billion in loan guarantees for renewable energy start-ups. These loan guarantees, administered by the Department of Energy (DOE), had two purposes: • Create employment • Develop commercial technologies to avoid and […]

Freddie Mac Modification

In Bulletin 2011-16 dated September 12, 2011, the Federal Home Loan Mortgage Corporation (Freddie Mac) published the requirements for its Standard Modification program. For the debtor looking to save a house, before contemplating bankruptcy, the debtor might look into the Standard Modification, which serves as a workout option for borrowers who are ineligible for the […]