I have stock in American Home Mortgage and it declared bankruptcy. Can I recover anything?
Written By: admin on June 6, 2009
2 Comments
I am still holding shares of American Home Mortgage which declared bankruptcy several weeks ago. The share price has plummeted and is nearly worthless at this point. Do I continue to hold this position? Do I sell these shares that are worth just a few bucks? Will I recover anything as part of a class-action suit, etc.? I'm ready to just write this off as an nearly total loss but I'd like to find out if I'm entitled to anything.
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Tags: american home mortgage, american mortgage, bankruptcy, class action suit, share priceTags: american home mortgage, bankruptcy, class action suit, share price
Before you sell and declare a loss in this financial year you should review (with an advisor) whether it is best to do that this financial year or next. I don't know your circumstances but ften they shift year to year and there may be an advantage to waiting a bit longer. Similarly if you can write them off under a spouse's taxes this can have a larger impact sometimes.
As long as the shares have value though there is a chance of the phoenix rising from the ashes.
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