Explaining the Housing Bubble

In the years leading up to the economic recession of 2009, the housing market was booming. Homes were being built and bought by the thousands. Although it indicated a healthy market, many of the homes were being sold at an inflated price, now referred to as “the housing bubble.” In 2009, several factors contributed to the “bursting” of said bubble, effectively bankrupting thousands of families.

If you are a victim of the economic recession, you are not alone in your suffering. The debt negotiation attorneys of the Law Office of David D. Kervin, Jr., LLC work hard every day to help people like you recover from financial devastation. For a free consultation with an experienced New Orleans bankruptcy attorney, contact the law offices of the Law Office of David D. Kervin, Jr., LLC today by calling 504-599-5906.

When the Bubble Burst

In the frenzy to buy and build homes, many families took out loans in order to pay the mortgages on their new homes. In 2009, the housing market took a sudden downturn, and the value of these newly purchased homes plummeted.

People soon found themselves making mortgage payments on homes that were now worth a fraction of their original cost. This, combined with the rise in unemployment, has financially harmed thousands of American families.

Contact Us

If you or someone you know is struggling with debt, you should consider speaking with a New Orleans bankruptcy lawyer from the law office of the Law Office of David D. Kervin, Jr., LLC. Our experienced debt negotiation attorneys can help you get back on track toward financial freedom. Call us today at 504-599-5906 to schedule a free initial consultation.