Category archive for ‘Foreclosure’ 
An all too common preliminary inquiry by a hypothetical debtor, and a reply. Episode 2 of a series.
by John C. Colwell on 3/07/10 | 0 Comment(s)
dmp, debt management plan, deficiency, Second Trust Deed, Charge off
Why you need to file bankruptcy. . .
by Jay Jump on 3/04/10 | 1 Comment(s)
You can villify me later. For now, I need you to read and get some perspective. Pay attention because we’re going to move fast.
You need to file for bankruptcy.
Let me say it again for those of you who are still shaking your head.
YOU NEED to file for bankruptcy!
There, I gave you a little emphasis to Read more>>
New Mexico Leads the Way in Combating Foreclosure
by John Rogers on 3/02/10 | 0 Comment(s)
“As the Obama administration works up its 12,487th plan for keeping underwater homeowners in their homes, New Mexico’s legislation had the courage and good sense to do the obvious: let foreclosed homeowners stay in their home as renters. The New Mexico legislature voted to allow homeowners in houses that sell for less than the median Read more>>
Study Finds More Consumers Making Payments on Their Credit Cards Before Their Mortgages
by John Rogers on 2/26/10 | 0 Comment(s)
TransUnion, one of the large credit reporting agencies, is out with a new study that is quite alarming, but not surprising. The study, which finds that, for the first time, consumers are more often defaulting on home mortgages rather than credit card payments, contains a lot of fancy data and conclusions.
I don’t find this trend surprising Read more>>
I Surrendered My House in Bankruptcy, You Mean To Tell Me I Still Own It?
by Moderator on 2/12/10 | 0 Comment(s)
Well not exactly as you may picture it, but yes, you will still technically own title to your home until the bank clears the title through foreclosure. National Bankruptcy Forum contributor Jay Jump wrote an excellent post a few weeks ago explaining how a Home Owners Association can still come after a homeowner for dues even after the Read more>>
Fraudulent Aspects of Using a Strawman in the Short Sale of Residential Property to a Family Member in Florida: Conclusion
by Steve Combs on 1/27/10 | 0 Comment(s)
Many real estate experts and commentators are of the view that the type of transaction discussed in this article does amount to civil and/or criminal fraud. Lenders are attempting to stop these type of transactions from occurring via the use of the arms length transaction affidavits. See “Why Does the Bank Require an Arms-Length Affidavit Read more>>
Fraudulent Aspects of Using a Strawman in the Short Sale of Residential Property to a Family Member in Florida: Applicable Laws & Considerations
by Steve Combs on 1/27/10 | 0 Comment(s)
Part two of this article focuses on issues that must be considered when this type of transaction has been proposed and the applicable laws that govern.
The Florida Supreme Court has defined the elements of civil fraud are as follows:(1) a false statement concerning a material fact; (2) the representor’s knowledge that the representation is false; Read more>>
Fraudulent Aspects of Using a Strawman in the Short Sale of Residential Property to a Family Member in Florida: Introduction
by Steve Combs on 1/27/10 | 0 Comment(s)
This is a threee-part article discussing fraudulent aspects of using a strawman in the short sale of residential property to a family memeber in the state of Florida.
With the number of short sales rising throughout the United States, a common question that arises is whether the owner of residential real estate can sell shorts sale Read more>>
Non bankruptcy loan modification is a failure.
by John C. Colwell on 1/16/10 | 5 Comment(s)
Today, the AP is reporting what has been clear to all debtor attorneys for some time, that of the complete failure of the ‘voluntary’ loan modificatin programs. See today’s San Diego Union-Tribune article here: http://www.signonsandiego.com/news/2010/jan/15/obama-mortgage-relief-program-fails-to-deliver/ This article suggests the blame should be placed upon Obama, and to be fair, a good portion of the failure Read more>>
Does Filing for Bankruptcy Allow Me to Walk Away From an Underwater Home?
by John O'Connor on 1/10/10 | 1 Comment(s)
In a word, yes. Filing for bankruptcy allows the opportunity to surrender cars and real estate with no continuing obligation. North Carolina hasn’t been as hard hit as other states in the current housing crisis, however, I still meet with clients all the time who owe more than their homes are worth and can’t find Read more>>
