The foreclosure wave is almost over. But in its wake, even debtors filing for bankruptcy are finding they're still saddled with the home.

 

Tonight live at 7:00 pm on the Philadelphia CNN-News affiliate WFMZ-TV, The American Law Journal presents "Underwater: the Wave of Home Foreclosures & Bankruptcy." 

  

Joining host Christopher Naughton are: 

• debtor's attorney John A. DiGiamberardino of Case, DiGiamberardino & Lutz
• creditor's counsel Timothy Duggan, Esq. of Stark & Stark and the 
• Hon. Richard E. Fehling, bankruptcy judge for the Eastern District of Pennsylvania

The show examines foreclosure options, "walking away" from the home, "vesting" title with the bank and even the notion of eminent domain with rejected city properties. 

 

"The problem we are facing in this market," says DiGiamberardino "is that most people come into bankruptcy with [real] property. What happens when the bank doesn't want the house? If the debtor surrenders the property, but still owns it, the door is open to theft, vandalism, unwarranted occupation, taxes and liability. At least in some Chapter 13's we can get the property title to vest with the [creditor] bank." 

 

The American Law Journal is the weekly talk-feature program airing on the CNN-News affiliate for Philadelphia, WFMZ-TV 69 to Pennsylvania, New Jersey and Delaware.  

• View WFMZ-HD over the air and on all cable and satellite systems, see http://bit.ly/ALJchannels.
• All programs are available online a few days after live airings on www.YouTube.com/LawJournalTV. 

Next week on The American Law Journal: 

"The End of Alimony As We Know It?"