Or maybe this is just a continuing, disappointed sigh that this group, who tries to build a profession around selling houses, is itself oversold. Latest example arose where a homeowner was referred to me by his accountant, concerned about a pending short sale of the client’s home. By our rough calculations, the short sale of […]
Guilt & fear used to keep homeowners paying
Susanne Robicsek’s post on the futility of keeping a home through bankruptcy brought to mind Professor Brent White’s paper on the use by government and financial counselors of fear and shame to keep people paying on mortgages on underwater homes. White cites a litany of messages from apparently credible sources who chant that a foreclosure […]
Loan modification resources
The good folks at the National Consumer Law Center have put together a page of links to various programs and procedures for troubled home loans. My colleague John Mlnarik has begun a discussion of the Obama Treasury programs announced earlier in March on www.norcalmortgagemods.com. Now, we need the Senate to move on S. 61 and […]
Sell first, litigate later
Meeting with a client with Truth in Lending claims the other day reminded me about the power of the Bankruptcy Code to facilitate the sale of property subject to disputed liens while preserving the claims against a secured creditor. These clients had property they wanted to sell but the amount they owed the holder of […]
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