Just when I thought that most of the pain from the mortgage lending bubble of a decade ago was behind us, we arrive at a painful milestone. Those 10 years-interest only loans from 2006 and 2007 are resetting. Instead of being interest only, they now move to principal and interest. And the balance originally borrowed […]
Strictly California
Means Test Means Little In Bay Area With New Census Numbers
The latest numbers used in means test for the San Francisco Bay Area after April 1, 2018 are out. They reinforce my contention that the means test is meaningless for most in Northern California. Bankruptcy's means test was sold to Congress in 2005 as a way … Read Full Article
The Secret Bankruptcy Discharge For Community Property
Psst! Let me tell you a secret about bankruptcy law. You can get 3/4 of the benefits of a bankruptcy discharge without ever going near a bankruptcy court if you are a married person in California, or any other community property state. If … Read Full Article
Marital Separation Doesn’t Require Two Homes
Split the sheets in California, and your wages are no longer community property. That's because property acquired during marriage but after a marital separation isn't community property. That's been California law for a long while. The sticky wicket … Read Full Article
