Mortgage Issues

Bankruptcy Rule 3002.1: An Unlikely New Weapon Against Debtors

01/09/17

It has been five years since Congress and the U.S. Supreme Court enacted Bankruptcy Rule 3002.1.  Hailed as a victory for homeowners against greedy mortgage banks, the rule was designed to force banks to certify to the court that the homeowner was current in payments at the conclusion of a chapter 13 case.

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U.S. Supreme Court to Hear Chapter 7 Junior Mortgage “Lien Strip” Case

03/22/15

mortgageOn March 24, 2015, the U.S. Supreme Court will hear oral arguments in two cases involving whether a chapter 7 debtor may strip off a second (or any junior) mortgage that is not secured by the home’s actual market value.

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Mortgage Servicer’s Biggest Jackpot Is Home Insurance

04/09/13

jackpotHow would you like to pay for my spring vacation to Maui?

Or make my house payment this month?

What? you howl.  What do I get out of paying your bills?

Good question.

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Justice Delayed is Justice Denied: The Case Against Big Banks

03/09/13

Last month, Elizabeth Warren asked a pointed question of senior treasury department officials regarding why no enforcement action had ever been taken against a large financial institution.  

“Can you identify when you last took (one of) the Wall Street banks to trial?” she asked the regulators. None could.

 (from the article by Andrew Mega, Huffington Post, March 8, 2013).

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