Today’s Atlanta Journal Constitution published a front page expose about title pawn loans in Georgia. The article tells the story of a small business owner short on cash who borrowed $2,000 from a title pawn broker using the title to his wife’s car as collateral. When he missed his payments, the vehicle was repossessed and [...]
January 2009
Barack Obama promised a 90-day moratorium on home foreclosures during his campaign for president. Here is a part of the video that Obama played on all of the networks. This portion of the video contains Obama’s campaign promise of a foreclosure freeze for 90 days. I have seen no such proposal from the new administration. [...]
Today’s Atlanta Journal Constitution ran a page one article in the Metro section entitled “Who Owns My House?” The article highlights the case of a 68 year old seamstress named Zella Mae Green who has filed bankruptcy four times over the past twenty years to stop foreclosures. The problem – her mortgage has been bought [...]
The new legislation to allow Bankruptcy judges to modify home loans will not only help homeowners save their homes but often will increase the amount of money that credit card companies and other unsecured creditors receive in a Chapter 13 Bankruptcy. A Chapter 13 bankruptcy is a structured repayment plan designed to allow a debtor [...]
Capital One reported a loss of $46 million for 2008 which has started their slide down a slippery slope. The “What’s in my wallet” attitude has helped lead our current economy into a depression and nothing but moths in our collective wallets. It is only fitting that the same debtors that Capital One has taken [...]
A recent Arkansas bankruptcy court decision, In re Booth, 2009 WL 81327 (Bky.E.D.Ark. Jan. 14, 2009), was notable more for the chapter 13 plan provisions it disapproved, than for the chapter 13 plan provisions it approved. First, the court disapproved a plan provision which prohibited the mortgage lender from imposing costs or fees of any [...]
