Short Sales

Buy A Home After Bankruptcy: Yes You Can!

Avoid Liens, Bankruptcy Law Overview, Chapter 13, Chapter 7, Fair Credit Reporting, Foreclosure, Short Sales

I network with a lot of business professionals from around the financial sector because rules and information changes so frequently that I can’t keep up with all of it.  Over a cup of coffee a few weeks ago, I was talking with experienced mortgage broker, Brigitte Archer of Oxford Capital in Lake Forrest, California and […]

Debt Is Holding You Back From Wealth

Bankruptcy Law Overview, Chapter 13, Debt Collections, Foreclosure, Modifications, Short Sales

You cannot spend your way to wealth, unless it’s a debt elimination plan. If there was a magic pill to getting rich, you would think that more people would be taking it, but that simply isn’t the truth.  The truth is that most people have and hold very high moral values and want to fulfill […]

Mortgage Forgiveness Debt Relief Act Expired; California Homeowners Safe

Short Sales

The Mortgage Forgiveness Debt Relief Act of 2007 has been extended twice already and has finally expired this week.  California homeowners could avoid a tax hit according to this article. Senator Barbara Boxer sent a letter to the IRS seeking guidance on the effect of the expiration of the Act and the IRS Responded, from […]

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 […]

Mortgage Foreclosure Crisis Update 2012

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

We’re nearing election time and you would think that the economy is improving with the lower unemployment figures and other splashing news, except for our gas prices.  I, however, am sensing something brewing on the horizon and wanted to share my observations here with you. This Huffington Post article about the attorney general settlement is […]

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 […]

My Real Estate Agent Told Me To File Bankruptcy To Help With A Short Sale

Bankruptcy Law Overview, Foreclosure, Short Sales

I received the following E-mail recently that reflects a growing trend of well meaning Realtors who employ illegal tactics to help their clients.  Unfortunately, they are not only violating the law in doing so, they can potentially cause more harm than good in trying to help their clients. Dear Attorney Christine, We are writing today […]

Steps To Home Ownership After Bankruptcy

Discharge Injunction, Foreclosure, Modifications, Short Sales

How soon can we buy a home after bankruptcy?  This is a frequently asked question from my clients who are struggling to decide whether to fight to save their underwater mortgaged home, or simply walk away and come back into the market within a couple years.  What we are now seeing is a steady stream […]

No More Deficiency Judgments From Short Sales, But Income Taxes May Still Loom

Chapter 13, Short Sales

On July 15, 2011 Governor Jerry Brown signed SB 458 into law with an urgency declaration making it effective immediately.  This new law prevents deficiency judgments after a short sale and means those naughty lenders cannot come after you once your short sale is complete. A recent Short Sale blog article on this subject explains […]

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