The clients in financial trouble couldn’t get the attention of their mortgage lender about the coming train wreck. But you’re current, said the telephone representative for the lender. So, the clients deliberately missed a payment to make their point that they needed help. Care to guess what happened next? Determined to remain only one payment…
The would be client had millions of dollars of equity in the house at stake, yet waited til the week of the foreclosure to look for a bankruptcy lawyer. The required case would be a Chapter 11, which is heavy on procedure. I didn’t have the capacity to take on such a case on an…
Yesterday we got notice from one trustee that 5 of our confirmed Chaper 13 cases were in default and in danger of being dismissed. Jackson Morris, a colleague up the Peninsula, sent a link to this map showing change in unemployment figures. The default picture becomes clearer.
Several clients have asked whether they can remove personal property from their home while it’s “in foreclosure”. Another client wanted to know what the rights of the foreclosing creditor were to come into her home before any sale was held. Be clear: it’s your property until there is a foreclosure sale. Your rights to the…
When the house is unaffordable, homeowners often look to a short sale or deed in lieu in the belief that avoiding foreclosure means avoiding the credit score hit. Not so. Sharon Epperson’s bit in USAWeekend today points out that a deed in lieu or a short sale will likely be reported as “not paid as…
I’ve launched a new web site, www.bankruptcymastery.com, dedicated to being a resource for lawyers new to the practice of consumer bankruptcy law. I envision it as being a tool to learn, systematically, those things beyond the Code that are necessary to be an effective bankruptcy lawyer. I’ve been mentoring an increasing group of local young…
