If you owe your school tuition and file for bankruptcy relief, your school might hold up your transcript or even your diploma. But not every debt for a school, college or university is a “student loan.” The Seventh Circuit Court of Appeals – covering Illinois, Wisconsin and Indiana – has just reminded us that a [...]
April 2009
Opponents of leveling the mortgage modification field by changing bankruptcy law like to demean those who would benefit from the change as those who greedily bought more house than they can afford. That characterization does not begin to encompass the range of clients I’m seeing with houses that, absent a modification, they should walk away [...]
In order to find out if you are eligible for the Obama Home Affordable – Refinance plan, you have to first find out if your mortgage is owned or guaranteed by Fannie Mae or Freddie Mac. Â This is easier to do than you might think. Â To see if your loan is owned or guaranteed [...]
Bankruptcy law allows a trustee to recover payments made to creditors on the eve of bankruptcy, even if the payment was made with borrowed money the debtor never touched, according to the Sixth Circuit Court of Appeals. The situation is very typical. A consumer carrying too much debt gets an offer to transfer balances from [...]
Here’s our list of phone numbers for contacting mortgage servicers. Help us keep it up-to-date.
Carolina Place Mall is open for business, even though its parent company filed a Chapter 11 bankruptcy. I was there last night, and no one shopping there would know that there is any problem. The company has stated that they are not closing the malls, and shoppers should not notice the difference. Chapter 11 does [...]
