I recently got a phone call from a client. She got a letter from her mortgage company giving her the “opportunity” to reaffirm her mortgage. She wanted to know whether she should do this. I told her, “Absolutely not.” In the overwhelming majority of cases, it makes absolutely no sense to reaffirm a mortgage debt. [...]
Brett Weiss, Maryland Bankruptcy Attorney
I meet with potential clients every day. In each case, I ask that the client fill out two questionnaires, a short, two-page form to be brought to our initial meeting, and a second, much longer one, to help me in drafting the Schedules for filing with the Court. These questionnaires, even the short one, take [...]
About 25% of all mortgages in the United States are “Under Water,” that is, a mortgage where the property is worth less than what is owed on the mortgage. Many people who own these properties also have second mortgages, equity lines, HELOCs, or tax, HOA or other liens, pushing the property still farther into the [...]
Recently, a colleague of mine was given a letter from a client. She had received it from a law firm, and it said: Dear Borrower: We are your mortgage company’s lawyers. We are attempting to reproduce certain loan documents that are now missing from your loan file. Enclosed you will find a Loan Security Agreement. [...]
While the use of social media offers great opportunities in networking and client development for lawyers, a recent article in the American Bar Association Journal highlights some of the potential pitfalls. Seduced: For Lawyers the Appeal of Social Media is Obvious. It’s Also Dangerous, is an excellent article discussing the new ethical landscape created by [...]
On February 4, 2011, I was honored to have been asked to testify on behalf of the National Association of Consumer Bankruptcy Attorneys (NACBA) before the Advisory Committee on Bankruptcy Rules. The Committee proposes changes to the Federal Rules of Bankruptcy Procedure, and submits them to the U.S. Supreme Court for adoption. Once adopted, they [...]
