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. […]
Homestead Law Little Protection For California Seniors
Home equity makes up most of the net worth of California seniors. Most are house poor. Lots of equity, little in liquid assets. But unless you take a very expensive reverse mortgage, that equity may as well be under lock and key. You can’t pay the monthly expenses from value in real estate. When expenses […]
Couple Beats Big Banks Who Ignored Bankruptcy Discharge
A couple of banks found out that it’s expensive to ignore the bankruptcy discharge. For a change, money will flow from banks to my clients. Because even a bank can’t just do business as usual when their borrower files bankruptcy. Equally important, the judge recognized, in dollars, the emotional costs to debtors when their discharge is ignored. […]
The Dozen Most Important Bankruptcy Posts Of 2016
Last week, I let readers pick their favorite new bankruptcy posts from 2016 . It was a good bunch. Now, it’s my turn. Here are the dozen new posts for this year that struck a chord with me. If there’s a theme, it’s the subject matter, rather than the style. Each post is on target on issues […]
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 […]
Spotting The Mean In The Means Test
Just being a consumer is enough to put you on Congress’s bad side when it comes to bankruptcy. How do I know? I read the “reformed” bankruptcy code where the means test discrimination is blatant. Only those individuals whose debts are primarily consumer debts have to prove that they aren’t abusing the bankruptcy laws. The […]
Why The Gap Between Judges & Attorneys Over Fees?
Very few bankruptcy judges ever represented average individuals in bankruptcy before they became judges. Fewer were sole practitioners,who must rely on the fees they earn and collect to stay in business. Those two factors seem to create the chasm between bench and bar over attorneys fees in consumer bankruptcy cases. This post starts from the […]
The DOJ War On Chapter 13 Debtors
What’s wrong with the picture when United States Trustee is offended by Chapter 13 success? I heard a distressing story about the war against debtors recently. It seems a high rate of successful Chapter 13 plan completions triggered multi-day audit of the trustee by the United States Trustee. The UST likes to remind us that it […]
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 […]
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