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Junior Mortgage

Options For 2nd Mortgages After Bankruptcy

Avoid Liens, Chapter 7, Junior Mortgage

Here’s a question posted recently over at AVVO.com.: “We had a Chapter 7 bankruptcy discharged two(2) years ago. We have a second mortgage that we haven’t paid on in 2.5 years that has a $95,000 balance. We have not had any communication with the lender. Would like to know what our options are and the […]

Strip Your Lien Upon Completion of Chapter 13 Plan Payments

Avoid Liens, Chapter 13, Chapter 7, Foreclosure, Judicial Liens, Junior Mortgage, Short Sales

Observing an “emerging consensus in this Circuit” that lien stripping can be accomplished through Chapter 13 Plan Completion, the court in Litton Loan Servicing, et al v. Robert Blendheim, et. al, In re Blendheim, Nos. 13-35354, 13-35412, U.S. Court of Appeals For the Ninth Circuit, 2015. You can watch oral arguments here. So, what do […]

Zillow Says You Still Owe More Than Your Home Is Worth

Avoid Liens, Chapter 13, Foreclosure, Junior Mortgage, Modifications, Short Sales

Negative equity, a term that means that the amount owed on all mortgages is more than the market value; also known as “underwater.” Home equity is the difference the current resale value of the home and the total mortgage debt owed. According to Zillow, 9.7 million Americans still have a problem with negative equity and […]

They Went Broke and Lived Happily Ever After

Avoid Liens, Chapter 13, Foreclosure, Junior Mortgage, Modifications

I’ve been wondering recently about how my clients are doing long after their bankruptcy case ends and the debt is gone.  Then, I happened upon Bryan Fears’  (@fearsnachawati) article, File Bankruptcy and Live Longer and read a few positively surprising results that began to answer my questions about life after bankruptcy. Unfortunately, the article did […]

Mortgage Servicing Statements in Bankruptcy Fraught With Errors

Avoid Liens, Chapter 13, Discharge Violations, Foreclosure, Judicial Liens, Junior Mortgage, Modifications, Short Sales

What happens when you take a homeowner who defaults on their mortgage into bankruptcy to stop the foreclosure sale?  You get a situation that is disease ridden with errors.  Katie Porter (@MsKatiePorter) recently wrote about this over at Credit Slips (@CreditSlips) in her article, What do bankruptcy mortgage servicing and Ebola have in common? where […]

Still No Life on MERS

Avoid Liens, Bankruptcy Law Overview, Chapter 13, Foreclosure, Junior Mortgage, Modifications, Short Sales

Here is a great article from the California Lawyer entitled, “In MERS We Trust.”  Christopher Peterson, University of Utah College of Law is quoted as saying, “For the first time in the nation’s history there is no authoritative, public record of who owns land in each county.”  A history of our land transactions is steeped […]

A Breakdown of the California Homeowner Bill of Rights

Chapter 13, Foreclosure, Junior Mortgage, Modifications, Short Sales

The California Homeowner Bill of Rights will become effective January 1, 2013 requiring lenders and their servicers to provide fairness and transparency in the foreclosure process.  This is an emerging practice area for attorneys as we get up to speed on what this new set of laws will mean for our clients. Here’s a great […]

Your Home is NOT an Asset!

Chapter 13, Foreclosure, Junior Mortgage, Modifications, Short Sales

A basic accounting principle is to know the difference between an asset and a liability.  Many of my clients come to me thinking that their home is an asset, but that is simply not true in most cases. So, what is the difference between an asset and a liability? Simply put, an Asset puts money […]

The Dodd-Frank Act: Too Little Too Late?

Avoid Liens, Chapter 13, Foreclosure, Junior Mortgage, Modifications

 We’re still uncovering the fraud perpetrated by the mortgage meltdown and have yet to deal with the more than 95 million securitized mortgages that have yet to adjust.  We have seen tremendouse changes in the industry as new laws and regulations are changing the way the industry does business. In the January issue of Los […]