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According to an article examining foreclosure filings in Ohio, what began as a problem affecting mostly urban areas in the mid-1990s ballooned to crisis levels, with more than 70,000 new foreclosures filed in 2012. In addition, the Dayton Business Journal reported that in early 2013, Ohio saw the scheduled foreclosure auction total rise by 73 percent from 2012, which resulted…
Soccer has surged in popularity within the last two decades—due in part to the hosting of the World Cup in 1994, the welcoming of legendary British midfielder David Beckham to the LA Galaxy in 2007, and the recent success of the men’s and women’s national teams on international levels. Unfortunately, this has not stopped some U.S. teams from facing uphill…
Competition among U.S. restaurants has been recently increasing as newer chains expand quickly in Ohio and across the country. In today’s highly competitive restaurant industry, it takes very little for a business to face diminished cash flow, causing it to reconsider its operating strategy. Just four days after Sbarro LLC filed for Chapter 11 bankruptcy for the second time in three years, Quiznos…
Over the past several years, shopping malls have seen a decline in traffic that has severely hurt mall-based businesses. Sbarro, a familiar pizza restaurant in mall food courts around the country, is one of those businesses. Due to a decline in mall customers compared to the previous volume, Sbarro has filed for Chapter 11 business reorganization for the second time…
Many people believe that filing bankruptcy is the end of the road for getting a credit card ever again, let alone being approved for a mortgage. But, actually it is a new beginning. Owning a home is still possible for Ohio residents after filing for bankruptcy, or even after a previous foreclosure. After the recent foreclosure crisis affected so many people…
The prospect of facing foreclosure and losing your home can be traumatic. This reality faces many, including the mayor of Akron, Ohio, who had to deal with the possibility of foreclosure on his former home recently. The foreclosure action was filed by Wells Fargo bank on the property jointly owned by Akron Mayor Don Plusquellic and his former partner. Although his name…
In the past several months, some have heralded the fact that the foreclosure crisis is over. Having addressed abuses like overextended credit, wrongful evictions, and other practices that took the dream of homeownership away from many families, lenders seem to have changed the way they handle the foreclosure process. But, have these wrongful practices really disappeared? Or have they just shifted to…
Filing for bankruptcy is a personal decision. Many people find that it is the best way to handle their debt and try to get their finances back on track, but they usually prefer to make that decision for themselves. An Ohio bank recently reported to credit bureaus that some of their customers had filed for bankruptcy when, actually, the customers…
Paul J. Minnillo, an attorney at our firm Minnillo Law Group Co., LPA, recently spoke to a reporter at the Dayton Daily News about the ways in which the Affordable Care Act (ACA) may or may not help Americans avoid significant financial hardships. It is now a well-known fact that the number one reason Americans currently choose to file for…
Mahogany’s restaurant at The Banks promises to catch up on its financial obligations and keep its doors open through a cold winter that has depressed businesses. The small business received a $300,000 loan and an almost $700,000 grant from the city of Cincinnati to help get it off the ground in 2012. Now, the owner vows that her small business debt will not force…