News Topic: Mortgage and Foreclosure

A reader wrote me stating that she had filed Chapter 7 bankruptcy because a bank was suing her for the amount of her home mortgage. This was not a deficiency action. The bank sued the reader for default under the promissory note without foreclosing on the ... Read full article

Many people file Chapter 13 bankruptcy to stop a foreclosure, and some people file Chapter 7 bankruptcy to discharge mortgage deficiency liability. I think many people are filing bankruptcy prematurely, and unnecessarily, to deal with foreclosure. ... Read full article

A potential bankruptcy client wanted to avoid a deficiency judgment from a partially first mortgage on his home. The client’s income made him ineligible to file Chapter 7 bankruptcy which would have discharged the deficiency liability in full. The client ... Read full article

Bankruptcy people have been getting nervous about debtors stripping second mortgages from their homestead properties in Chapter 7 bankruptcy . ... Read full article

Are mortgage lenders finally “getting it?” Since the beginning of the housing crash so many homeowners have expressed to me their frustration trying to work with their mortgage company to arrange a reasonable short sale of their real estate. These ... Read full article

As most know, during the years leading up to the real estate crisis mortgage lenders originated individual home loans and then assigned packages of these loans to investors who converted the packages to mortgage securities. The assignment process involved ... Read full article

Last month I attended a seminar about mortgage modifications in Chapter 13 bankruptcy. There were several points that warrant a series of blog posts. One speaker compared mortgage mediation in the context of a Chapter 13 bankruptcy with mortgage mediation ... Read full article

Another bankruptcy court decision on reaffirmation of mortgage loans. Bankruptcy debtors have always understood that they had to reaffirm their liability for car loans if they wanted to keep the car through bankruptcy. Many debtors over the years believed ... Read full article

Have you been jerked around by mortgage banks in court ordered mortgage mediation in Chapter 13 bankruptcy cases? Another local attorney spoke with me this week about how big banks are playing debtors and their attorneys in court ordered mortgage ... Read full article