mortgage

Why You Must Pay Your Mortgage Directly After Filing Chapter 13

10/09/17

If you are behind on your mortgage, you can use Chapter 13 to stop a pending foreclosure and repay missed payments over the 5 year term of your Chapter 13 plan. However, filing your Chapter 13 case is only the first step in saving your home.

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Fifth Circuit Report: First Quarter 2016

05/01/16
During the first quarter of 2016, the Fifth Circuit handed down some important decisions relating to bankruptcy and debt.     These include cases about how attorneys get paid from PACA proceeds, standing to object, denial of discharge, dismissal for cause, enforcing a chapter 11 plan, preferences, more fallout from the Stanford Ponzi scheme and some cases of general interest.
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Trustee Sells Home If Defective Mortgage

03/27/13

If the mortgage on your home is defective, a chapter 7 trustee can sell the entire home even if you’re current with your payments and despite the absence of a payment default.   You get any equity – and good luck with obtaining a new mortgage – but the mortgage balance goes to your general creditors which now will include the mortgage lender.

Ouch!!  That certainly can hurt.

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Want Free House, Try Sweepstakes, Not Federal Courts Says 5th Circuit

09/22/12

In re Wigginton, 5th Circuit 2012 This last week I had a couple come in, that had paid $5000 to some “group” that they found on the internet, to help them fight with their mortgage company. They had the “group” whoever that is, prepare a lawsuit or complaint and they filed it in state court trying to stop their foreclosure.

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Mortgage Liens Declared Invalid in Central Illinois Bankruptcy Court

08/17/12

A Central Illinois Bankruptcy Court Judge ruled the trustee who oversees administration of a bankruptcy case can avoid mortgage liens that do not comply with an Illinois law that requires the mortgage contain notice of the interest rate, loan amount and maturity due date.  See In re Crane [Crane vs. Richardson, CDIL 11-09067], on appeal to US District Court.

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Bankruptcy, Modification, and Foreclosure

08/11/12

In my Bankruptcy practice, I see people every day in the midst of a homeowner’s dilemma.  Try to save the house, walk away, file bankruptcy, do a modification, or what?  Most often, I spend time with them simply dispelling myths!

Here are seven of my favorites:

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