Economists of every political stripe agree that our recent recession and lackluster recovery arose from a collapse of real estate markets in cities all over the country. Homeowners are either stuck in properties worth less than what is owed on them, while other homeowners have just walked away. The result is a landscape where real [...]
Foreclosure News
In the latest foreclosure decision out of Florida, the 4th District Court of Appeal, in the case of McLean v. JP Morgan Chase, ruled that the plaintiff in a foreclosure must prove it owns and holds the note at the time the foreclosure case is filed. In the McLean case, the appellate court reversed the [...]
The words Mortgage Modification and/or Mediation and Bankruptcy were never used in the same sentence because we all know that a debtor in Chapter 13 bankruptcy cannot use the Bankruptcy Code to modify a primary mortgage on their residence. However, in the wake of this economic challenge, the winds of change are blowing, and we [...]
Natural disasters have recently destroyed countless homes and uprooted huge numbers of individuals and families. When the flood/hurricane/tornado/wildfire is over you focus on the destruction to your home, car, and business. You concentrate your concerns on whether or not you should rebuild, and on how to put your family’s life back together. In upstate New [...]
The Bankruptcy Appellate Panel for the federal Eighth Circuit Court of Appeals has added its voice to the other nine circuits that have have ruled in favor of wholly unsecured second mortgage lien stripping in chapter 13. This means that debtors in the Eighth Circuit (Minnesota, North Dakota, South Dakota, Iowa, Missouri, Nebraska, and Arkansas) are [...]
Stephen Gandel, senior writer over at Time Magazine, discussed the recent news from Bank of America of BOA’s plans to donate lots after bulldozing 100 foreclosed Cleveland homes. The lots will be donated to local government authorities. That donation adds to earlier donations of lots where 100 bulldozed Detroit homes once sat along with [...]
