On September 6, 2008, most foreclosures in California will need to be conducted under the new requirements of California Civil Code 2923.5.  This new code provision applies to loans made from January 1, 2003, to December 31, 2007, inclusive, that are secured by residential real property and are for owner-occupied residences.
August 2008
A recent Boston.com article focused on the impact of abandoned and foreclosed homes on towns in Massachusetts. A particularly interesting section of the article related to the Town of Randolph’s attempts to get the owner of an abandoned house to do some basic maintenance of the property, such as disposing of trash and trimming grass. [...]
Withdrawals from retirement accounts do not count as “income” for the bankruptcy means test, according to the Eighth Circuit Bankruptcy Appellate Panel. At long last, there is again harmony. As I have discussed before, my neighboring courts in the Western District of Missouri had concluded that withdrawals from retirement accounts, like a 401(k) or an [...]
Senator Barrack Obama called for bankruptcy law change in his presidential nomination acceptance speech before the Democrat National Convention Thursday night (08/28/08) in Denver. “That’s the promise we need to keep. That’s the change we need right now . . . let me spell out exactly what that change would mean if I am president,” [...]
I really didn’t realize how bad the housing crisis was until I read a recent piece by Richard Abowitz in the LA Times about foreclosure’s effect on the world’s oldest profession. Remember the housing boom in Las Vegas when high-rolling investors were gobbling up those desert condos left and right? Well, apparently many of those [...]
On July 8, 2008, California passed urgency legislation that extends the time period that tenants have to vacate property recently foreclosed. Under previous laws, tenants were to be provided a 30 day notice prior to eviction proceedings being filed. Now the law provides that tenants are entitled to 60 days.
