Welcome to our mini-website for Hillsboro, Oregon bankruptcy. The attorneys of Baxter & Baxter, LLP, are dedicated advocates for consumers. Baxter & Baxter, LLP, is a Pacific Northwest consumer protection law firm with offices in Oregon and Washington. To visit our firm’s main website, visit www.baxterlaw.com.

The Hillsboro Oregon bankruptcy attorneys, Oregon City bankruptcy attorneys,Portland Oregon bankruptcy attorneys, and Vancouver WA bankruptcy lawyers of the Bankruptcy Practice Group represent individuals in Chapter 7 and Chapter 13 bankruptcy. Our mission of committed and zealous consumer advocacy is unrivaled, and our track record of excellence and professionalism is recognized nationwide.

The Oregon consumer protection lawyers of the Consumer Litigation Group represent individuals in cases with false credit reports, identity theft cases, unlawful debt collection cases, and consumer fraud cases.

This site includes an aggregation of news stories about business, finance, and politics that bears upon our consumer protection and bankruptcy practice. We hope you will find the stories interesting and useful.

“We are a debt relief agency. We help people file for relief under the Bankruptcy Code.”

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Baxter y Baxter, LLP ofrece consultas de los consumidores y la quiebra de clientes que hablan español en nuestro Portland, Oregon oficina. Cuando llame para hacer una cita, por favor, pregunte por Kirsten Baxter. La Sra. Baxter representa a los consumidores en una variedad de casos, incluido el Capítulo 7 y el Capítulo 13 de bancarrota y los casos de protección al consumidor.

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• Baxter & Baxter, LLP | Portland, Oregon Office

  Baxter & Baxter, LLP
  8835 S.W. Canyon Lane, Suite 130
  Portland, Oregon 97225
  Telephone (503) 297-9031
  Facsimile (503) 291-9172

• Baxter & Baxter, LLP | Vancouver, Washington Office

  Baxter & Baxter, LLP
  1101 Broadway Street, Suite 213
  Vancouver, Washington 98660
  Telephone (360) 574-5239
  Facsimile (360) 326-1613

• Baxter & Baxter, LLP | Hillsboro Oregon Bankruptcy

  Baxter & Baxter, LLP
  5635 NE Elam Young Parkway, Suite 300
  Hillsboro, Oregon 97124 USA
  Telephone (503) 681-9752
  Facsimile (503) 291-9172

The bursting of the housing bubble in the midst of a flagging economy has caused home values to drop precipitously. Zillow.com reports that home values in the Portland, Oregon metropolitan area have dropped by about 11% in the last year alone, and some neighborhoods, such as the Pearl District, have dropped over 20% this year. Many of the homes sold in during the housing boom were purchased with an “80/20” mortgage, that is, a first mortgage for 80% of the purchase price, and a second mortgage for the remaining 20%.

Where the value of the home has fallen below the total outstanding balance of the first mortgage, it is possible to “strip” the second mortgage in Chapter 13 bankruptcy. (The debtor must qualify for a Chapter 13 repayment plan). A second mortgage can sometimes be converted into unsecured debt and could be discharged or classified as non-priority debt in the Chapter 13 plan.

Example: The homeowners paid $500,000 for their house in 2006, with a $400,000 first, and a $100,000 second. Since that time, their home has fallen in value to $395,000. These homeowners could strip off the second mortgage, eliminate $100,000 in debt (most likely at a much higher interest rate), and keep their home.

Stripping the second mortgage is not possible in every case. However, even if a homeowner does not qualify for a “strip down” of a second mortgage, they may be able to renegotiate the terms of the second mortgage, which may be at a high or variable interest rate.

Baxter & Baxter, LLP
5635 NE Elam Young Parkway, Suite 300
Hillsboro, Oregon 97124
(503) 681-9752

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Hillsboro Office

Our Hillsboro, Oregon office is located in central Hillsboro. We serve consumers in Hillsboro, Aloha, Forest Grove, North Plains, Scholls, Sherwood, Cornelius, and the Washington County communities.

Baxter & Baxter, LLP
5635 NE Elam Young Parkway, Suite 300
Hillsboro, Oregon 97124
(503) 681-9752