Bankruptcy Blogs

Mortgage Modification Mystery

07/08/11

Media reports have recently focused on big banks spontaneously offering mortgage modifications, even including principal reduction, to borrowers who are not in default and who haven’t even asked for them. See here.  The banks mentioned, JPMorgan Chase and Bank of America, both took over a lot of nasty mortgages from failed financial institutions (Washington Mutual and Countrywide Financial).

[more]

9th Circuit Oral Argument on Chapter 13 Addendum

07/08/11

For those of you who are interested here is the link to the recording for the 9th circuit oral argument in the Ch 13 Plan mortgage addendum case. M. Erik Clark 100 N. Barranca Avenue, Suite 250 West Covina, CA...

[more]

The Daily Docket: Dodgers Lose Bid to Depose Selig

07/08/11

A bankruptcy judge blocked the Los Angeles Dodgers from gathering testimony from Major League Baseball Commissioner Bud Selig and from viewing sensitive documents about the league’s handling of other teams’ financial woes. Read the Daily Bankruptcy Review article here.

[more]

Eric Rasmusen's Thoughts on Stern v. Marshall

07/08/11

Eric Rasmusen of Indiana University and I were having a back channel communication on the U.S. Supreme Court's holding Stern v. Marshall (see here for a summary).

[more]

Foreclosure Fraud Claims With Mortgage Companies: Settled?

07/08/11

We have bailed out the mortgage companies that brought us the foreclosure crisis, now the states and a federal government agencies are on the verge of a sellout buyout by the bad guys for fraudulent foreclosures. The Office of Comptroller of the Currency, or OCC, and the attorney generals for all 50 states are participating [...]

[more]

Two Recusals, Three Divisions, Four Judges: Congressman Ruben E. Hinojosa who had his bankruptcy petition sealed, has the appeal thrown around and dropped like a hot potato by the District Judges.

07/08/11

The appellate battle between Congressman Ruben E. Hinojosa over his sealed bankruptcy petition is heating up.  It is apparently too hot to handle because it is on its fourth district judge after an unexplained transfer and two recusals.   The appeal started with Judge Janis Graham Jack in Corpus Christi.  It was the for reasons unknown [...]

[more]

More on the Durbin Amendment Rulemaking

07/08/11

I have an op-ed on the Durbin Amendment rulemaking in the American Banker.  

[more]

What to do if you cannot afford to hire a bankruptcy attorney

07/07/11

I get a number of calls every month from people in despair who have no money at all and cannot afford to hire a bankruptcy attorney.  I do pro bono work in fact I do quite a bit of it, I just do not take pro bono cases that come in the front door so [...]

[more]

Bankruptcy Issue: Insurance Proceeds After An Accident.

07/07/11

There are many issues that can arise when you file a Chapter 13 bankruptcy case and insurance proceeds from a vehicular accident may be one such issue.  Let’s presume the following facts:  You are two years into a five year  Chapter 13 Plan, you have had an accident that has totaled your vehicle, your full [...]

[more]

Dictionary Definition of "Routing" Saves PayPal from Durbin Rule

07/07/11

The Fed has determined that PayPal's network does not engage in routing because it takes all transactions to one destination. Hence its exempt from the Durbin interchange ceiling.

[more]