Got a mortgage forbearance? Seems like a relief. But watch out for the normally escrowed taxes after the forbearance is up. The CARES Act made forbearance on federally backed mortgages available for the asking. But no one talked about the escrow portion of the skipped mortgage payments. Federal guidance urged servicers to offer easy ways […]
When You Can’t Pay Your Bills Because Of The Virus
The coronavirus has us locked at home where the worry demons play unrestrained in our heads. Money troubles cause us worry, in “good” times. These are hardly good times. As more and more of us are hit with shelter-in-place orders that keep us from work and our kids from school, we have even more time […]
Mortgage Forbearance For Non-government Backed Loans
Are you one of the homeowners whose mortgage isn’t eligible for the government’s COVID forbearance protections? Home loans not backed by the federal government are excluded from the protections for borrowers implemented by FHFA . But as much as one third of US home loans are not backed by the federal government. If that includes […]
Mortgage Payments During California Shelter-in-Place
Is my house at risk if I have no income due to coronavirus? With economic activity at a dead halt due to COVID-19, California homeowners worry about next month’s mortgage payment. And the month after that, for as far as the pandemic can see. While it’s early days, and I fully expect broad governmental measures […]
No Rush To File Bankruptcy
When the virus steals your income, it’s easy to be overwhelmed with unpaid bills and terrifying economic uncertainty. Immediate relief by filing bankruptcy may look appealing. Make it all go away, you say. I’ll never pay this off. But not so fast. With few exceptions, this bankruptcy attorney thinks it’s too early in this pandemic to […]
California Renter Protections From Eviction: How To Qualify
California bans evictions for non payment triggered by the COVID-19 shut-down under Gov. Newsom’s executive order of March 27,2020. The protection comes with a big IF: A tenant must act to trigger these protections, which run through May 31,2020. Who is protected The order covers tenants who have been laid off had hours cut suffered […]
Bills I Gotta Pay, But There’s A Pandemic Out There
I have bills I have to pay but no income. That despairing line was repeated over and over again in interviews with pandemic-furloughed workers on last night’s news. COVID-19 has ground the economy to a halt, no one’s working, and no money is flowing. Whether it’s called social distancing, shelter in place, quarantine, or lock-down, […]
Reaffirm Your Car Loan: The Bankruptcy Fight You Hope To Lose
It isn’t often I go into bankruptcy court, hoping to lose. But when the issue is reaffirmation of a car loan, that’s the strategy. I desperately want the judge to deny approval of my client’s proposed reaffirmation of his car loan. And most of my judges will deliver, from the bench, the pitch I’ve made […]
Home Mortgage Forbearance: Will It Save Your Home From Pandemic?
Mortgage forbearance for homeowners, shout the headlines. No need to make a house payment. Borrowers who can’t make this month’s mortgage payment were thrown a lifeline of sorts in the coronavirus rescue package. Only it’s probably not the help you think it is. And the lifeline may be far more fragile than you will need […]
Chapter 13 Bankruptcy Disrupted by Coronavirus
Has your Chapter 13 bankruptcy case been turned upside down by coronavirus? You are not alone. And attorneys, trustees and judges are all working on adaptations and adjustments that will save pending cases. Practices and procedures in Chapter 13 vary widely around the country. What follows is what I see here in the Bay Area […]
