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. ... Read full article
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 ... Read full article
By Kristy Young ... Read full article
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 ... Read full article
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 ... Read full article
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 ... Read full article
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 ... Read full article
Lien Stripping in Chapter 13 Bankruptcy For our readers playing along at home, the basic rule with mortgage modification in bankruptcy is as follows: first mortgages on a debtors primary residence cannot be modified by filing for bankruptcy, however, ... Read full article
Over 40 states have already signed on to the sellout deal the corrupt politicians negotiated, so they could run for office beating their chests bragging about their tremendous accomplishment, with their mortgage company liege lords, who should have ... Read full article
Number 4. You received a Summons and Complaint for foreclosure. Now you are being sued by your mortgage company and in danger of losing your property. You have a short period of time to respond, usually 30days or less in Illinois. ... Read full article
Form a Plan to Get a Mortgage After Bankruptcy Bankruptcy is supposed to offer a fresh start, a new beginning unhampered by past debts. However, many are deterred from filing for bankruptcy because of the mistaken belief that wiping out their debts means ... Read full article
With the housing market the way it is, many people want to know: what is the difference between a short sale and a foreclosure sale? And what difference does it make in bankruptcy? In a short sale, you have defaulted on your loan and cannot make the ... Read full article
Fannie Mae today announced plans to bar you from getting a mortgage for seven years, if you walked away away from a house (let it foreclose) when you had the capacity to pay or did not complete a workout alternative in good faith. ... Read full article
