Tag : Modifications

California’s mortgage crisis is out of control. The sub-prime lending didn’t end until late 2007 and into early 2008 when the economy collapsed. What further frustrates our sunshine state’s mortgage problems is that we were sold Jumbo loans due to our high property values. A Jumbo loan is a mortgage loan in an amount above […]

Life happens during every Chapter 13 Bankruptcy case. These cases remain open for three to five years requiring that counsel to perform ongoing work in their cases. There are so many financial landmines that Consumer must navigate and their counsel must continue to advocate on their client’s behalf during their bankruptcy case.  One powerful tool […]

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 […]

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 […]

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 […]

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 […]

You will find a great deal of information on the National Mortgage Settlement here. The settlement was reached with Ally/GMAC, Bank of America, JP Morgan Chase, Wells Fargo, and Citi.  This means that if your loan is being serviced elsewhere, you’re out of luck.  Remember that HELP IS FREE AND YOU SHOULD PAY NO ONE […]

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 […]

On September 20, 2011 I was a speaker for Law Review CLE on the topic of Foreclosure Defense in Orange, California and again on November 10, 2011 in Riverside. My perspective is always from the bankruptcy side where we will file under Chapter 13 of the Bankruptcy Code to initially stop the foreclosure sale. The […]

Loan modifications. Everyone wants one and no one really knows the secret to getting one, until now. We’ve seen many trial modifications that are rejected before the trial period ends and sometimes consumers are left on that trial mod program indefinitely without reason. The reason really lies in all the fees the servicer continues to […]