Attorneys General and mortgage regulators from all 50 states are joining forces to investigate robo-signing of mortgage foreclosure documents and other defects in home mortgage foreclosures. “We believe such a process may constitute a deceptive act and/or an unfair practice or otherwise violate state laws.” Here is today’s statement by the National Association of Attorneys General: It [...]
October 2010
The bankruptcy means test gets meaner on November 1, 2010, when falling income guidelines go into effect. Consumers thinking of filing bankruptcy who may be close to the median income line should compare the BEFORE and AFTER figures. Filing bankruptcy by Halloween may be a good idea for some consumer debtors. It is no surprise [...]
Foreclosures by Bank of America have been stopped in all 50 states, which is good news for many homeowners frustrated by foreclosure documentation problems. It is good that some of the mortgage industry’s widespread problems are being examined, but stalled foreclosures may not be beneficial for everyone. This may actually worsen problems for some borrowers, [...]
You’re considering bankruptcy, or just suffering through financial problems due to job loss, divorce, illness, other problems, or a combination of all of those things, and you want to avoid costly mistakes. Continuing my list of things NOT to do, here is part two. Call them pitfalls, call them dumb ideas, call them mistakes, but [...]
Tenancy by the entireties, in many states, is one of the most valuable ways for debtors to retain, or exempt, property in bankruptcy. Because entireties property can only be alienated (a fancy word for transferred or sold) by both spouses acting together, only joint creditors of both spouses can attach it to satisfy their debts, [...]
If you are behind in the mortgage payment on your home, there are several things you can do. One way to stop a foreclosure is to file bankruptcy. Once filed, there is an automatic stay that goes into effect that keeps anyone from taking your property, including your home. In a chapter 7 bankruptcy, however, [...]
