Indianapolis, IN, July 16, 2008 --(PR.com
)-- Indiana bankruptcy attorney Mark Zuckerberg, with offices in Anderson, Bloomington, Columbus and Indianapolis, was quoted in the lead story about our nation’s massive mortgage foreclosure problem in the June 26 issue of Business Week. The story sited the fact that there appears to be no end in site to the large number of foreclosures, despite many efforts by the lending industry and government agencies to curb the epidemic.
Business Week reported that Zuckerberg, after being one of only three bankruptcy attorneys nationwide invited to participate in the June 17 Mortgage Coalition Leadership Summit Meeting in Washington D.C., stated, “I met some very powerful people in D.C., but the meeting itself was a complete waste of time.”
Zuckerberg has seen a trend developing in the increase in bankruptcy filings in his Indianapolis, Bloomington, Columbus, and Anderson offices. He was a featured guest on National Public Radio’s Weekend Edition on Sunday, March 23, where he stated, “The increases we are currently seeing in bankruptcy filings in Indiana may in fact be mirroring the economic trends of the nation.”
Indiana ranks in the top-10 in the states with the highest number of foreclosures per households. As of December, 2007, 2.9 million mortgage loans were past due nationwide. It is anticipated that one in 33 current households will experience foreclosure in the next two years. Currently, 250 homes are lost to foreclosure every hour in the United States.
Zuckerberg said, “’We’re just starting to see the trickledown effect of the subprime disaster now affecting the carpenters, the roofers, the flooring installers and others that have been hurt by the downturn in the housing industry. If we are just seeing the tip of the iceberg with the economy and mortgage foreclosures, then we’re probably just seeing the tip of the iceberg with the increase in bankruptcy filings.”
Mark Zuckerberg has been a guest on NPR several times. In 2005 he was the only personal bankruptcy attorney to face Iowa Senator Chuck Grassley in a live nationwide debate on the issue of bankruptcy code reform. He has also been interviewed as a national bankruptcy authority in stories in many prominent media outlets across the country, including The New York Times, USA Today, Business Week, People Magazine, ABC New, Nightline, CBS Sunday News, The Indianapolis Star, Indianapolis Business Journal, National Public Radio, as well on many Central Indiana radio and television news programs.