I had an interesting question today from a client who is preparing to file bankruptcy. When he and his wife married, they each owned a home. They moved into one, and rented out the other. They have been talking with their tenant for some time about buying the home, but she has so far been [...]
February 2008
As consumer bankruptcy attorneys, the members of this network are on the cutting edge of bankruptcy issues, and more importantly, we see the latest trends and issues that consumers see in debt collection, mortgage fraud, credit card abuses, etc. Well the two most common used words in my offices in 2008 are CASH ADVANCES. It seems [...]
With foreclosures heading toward an all time high, defensive tactics are becoming increasingly important. Due to the complexity of the home loan securitization process, it is often hard for a loan servicer to find the original paperwork from the loan transaction. Here is a news story highlighting some of the defenses used by attorneys to [...]
There are so many unsavory and sometimes surprising details emerging about the mortgage industry, it’s hard to keep up. One of the issues that has emerged in foreclosure litigation in several districts is whether the foreclosing lender actually owns the mortgage it’s trying to foreclose. Judges in at least five states have stopped foreclosure proceedings [...]
Following the huge increase in foreclosures across the country, repossessions of vehicles are up 10% nationally over the year before. Most people finance a car based on the monthly payment and to accommodate those borrowers, lenders are now offering car loans as long as SEVEN years! While the monthly payment might be low, overall this [...]
Chapter 13 bankruptcy permits a debtor to cure a delinquent mortgage payment over a period up to five years in length. Typically, a debtor proposes a plan to repay, or cure, the arrearage in equal monthly payments during the life of the plan. Some plans might involve staggered payments, eventually paying off the delinquency by [...]
