Is it 2008 again? For us in the mortgage industry, we woke up this week feeling as if during the night, we were transported back to 2008 when the mortgage industry basically collapsed. Then, Fannie Mae, Freddie Mac, and the FHA were the exceptions. As of March 25, 2020, like everything else, the world of […]
Charting The Course of A Case
By Leave a Comment Filed Under: Bankruptcy Practice, Counseling clients, Start Here
To obtain good results for a bankruptcy client, sometimes you have to serve up unpleasant news and force the client to swallow that bitter pill. Of course, you can’t really force them to do anything, but you should consider taking on a client who shrugs off your advice. Case in point A new bankruptcy lawyer […]
Black Decision Sheds Light On Vesting Questions
By Filed Under: Bankruptcy Practice
Clouds of uncertainty have hovered over Chapter 13 debtors who find that they need to sell appreciated property before the case is over. Does appreciation occurring after filing go to creditors on the theory that the appreciation is property of the estate? Or does the vesting of property at confirmation entitle the debtor to any […]
First Principles For First Meetings
By Filed Under: Bankruptcy Practice
Once again, I sat in a 341 meeting where the trustee purported to deliver vital information to the assembled debtors. She had a captive audience of anxious listeners. She had ostensible power of life and death over their financial future. They needed to know what she had to say. But as communication, it failed. Badly. […]
PACE Loans- New Subprime Debts
By Filed Under: Bankruptcy Practice
Presentation November 2017 NCLC Consumer Litigation Conference 1 NCLC PACE Presentation final
Win Now, Wreck Later: A Tale of Bankruptcy and Mortgage Servicing
By Filed Under: Bankruptcy Practice
My Google Alert popped up a lovely win for a Chapter 13 homeowner , but all I could see was the train wreck that lies ahead. The bankruptcy court ruled that the confirmed (and completed) plan trumped a late-filed mortgage proof of claim. Payment of the amount provided in the plan cured the prepetition arrearage. […]
Secrets To Home Loans For Chapter 13 Debtors
By Filed Under: Bankruptcy Practice
Every bankruptcy debtor yearns to rebuild their credit. Whatever drove them to bankruptcy did no favors to their creditworthiness. The need for a new loan can be imperative to a homeowner in Chapter 13 who needs a better interest rate, a recomputed loan term, or just needs out of Chapter 13 with a discharge. […]
