On May 4, 2009, the South Carolina Supreme Court took the unusual step of issuing a temporary restraining order to stop foreclosure sales on mortgages owned by Fannie Mae or Freddie Mac, or that are otherwise eligible for modification under the Home Affordable Modification Program [HAMP]. Blogger Russ Demott points out the importance of the [...]
May 2009
Recently, many lenders have been refusing to pick up vehicles that debtors are surrendering in bankruptcy proceedings. Perhaps if these lenders picked up these vehicles and sold them at auction, they would need less bail out money and might avoid Chapter 11.
Victorville, CA saw the unthinkable when a mortgage bank not only foreclosed on new homes, but proceeded to demolish them rather than continue to let losses mount. Think about the families that could have enjoyed their lives here, the money wasted, and the excess of the real estate bubble as you watch this.
This is the third in a series of blogs about the Statement of Financial Affairs and the questions it asks. Question 3 is broken down into three parts, (a), (b) and (c). Part (a) requires the listing of certain payments made to creditors within the 90 days before the case is filed if your debts [...]
On Tuesday South Carolina’s highest court issued a court order to temporarily stop home foreclosure sales in the state so that homeowners have more time to take advantage of a new federal program to help them refinance their mortgage loans.
You must request a discharge in Chapter 13 and certify your eligibility for that discharge or your case will be closed and your debts will remain collectable. Your Chapter 13 Trustee will report when you have finished making your Plan payments. You then have 20 days to file a Motion, under Section 1328 and Rule [...]
