Pstt! Homeowners. Bankruptcy Lawyers. We’ve been handed a new tool for dealing with problems with mortgage lenders. Or maybe the courts are just showing us how to use some tools we’ve accumulated. Tools to make sure that homeowners who emerge from Chapter 13 are right and square with their mortgage lender. Scott v. Caliber (Bankr. […]
Discharged Debts Don’t Bar Chapter 20 Lien Strip
Underwater liens that linger after an earlier bankruptcy don’t count in Chapter 13. At least, they don’t count against the unsecured debt limit that restricts entry into Chapter 13, says the 9th Circuit Bankruptcy Appellate Panel in Free. Great news for homeowners for whom Chapter 13 was not initially available because they exceeded the debt limits. […]
Earthquake In California Law Of Community Property And Title
The ground has shifted under California real property law. The change looms as large as a quake along the San Andreas fault that runs through our neighborhood. The words on a real property deed no longer mean exactly what they say when the property owners are married to each other. The newly decided Brace case holds that the […]
Last Call For Loan Modifications Under HAMP
If your house is teetering on the edge of foreclosure, the time to act has a deadline. HAMP, the government program incentivizing home loan modifications, ends in 2016. To qualify for HAMP, you must submit a complete Initial Application Package by December 30, 2016. That package must include: A RMA form which includes a required hardship […]
Bankruptcy Alphabet: S is for Strip
S is for Strip in my Bankruptcy Alphabet. Bankruptcy lawyers delight in stripping liens from people’s homes. In any chapter of bankruptcy, a debtor can void judgment liens that have attached to assets that would otherwise be exempt. In Chapter 13, tax liens and other statutory liens can be stripped off the asset if there […]
Your Rights When Your Home Is Foreclosed
The foreclosure sale is over and the bank now owns the home. You’re now living in someone else’s property. What next? If you were the homeowner in California, here are your choices after the foreclosure: Your rights before the foreclosure sale
Foreclosure Looms But The Bank’s Numbers Don’t Add Up
The bank wants to foreclose on my client’s home. They claim he’s months behind. Only the numbers in their relief from stay papers filed in the bankruptcy don’t add up. The mortgage balance is one thing here, and other thing there. They file a declaration under penalty of perjury saying they have the note, followed within […]
Free Expert Help With Your Bay Area Home Loan Modification
Applying for a mortgage modification is equal parts torture and miracle drug. It can mean the difference between staying in your home and foreclosure. Yet it comes with more questions than answers. What’s the difference between HAMP and HARP? Do I want to appear broke or prosperous? Should I default before I apply? Critical questions, the […]
Not Too Late To Strip Mortgage Lien
It’s never too late to value a lien and avoid it in bankruptcy. Even after the Chapter 13 case is done and closed. So says the 9th Circuit Bankruptcy Appellate Panel in Chagolla, decided February 9, 2016. In the absence of prejudicial delay, we find that a motion to value and avoid the lien of a junior […]
Facing Foreclosure? Your Kids Can Cope
I talk with clients about walking away from underwater houses day after day. * Yet despite the pain and the roadblocks, these clients express reluctance to move because of the impact on their children.> It’s our home, they intone. It’s as though there can be only ONE home, and it’s this piece of real estate. They imagine […]
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