Bankruptcy › Residential Real Estate › Civil Remedies

Bank Did Not Alter Right To Foreclose By Agreeing To Work With The Debtor After Bankruptcy Dismissal

In Branch Banking and Trust Company v. TCI Luna Ventures, LLC, BB&T appealed a temporary injunction order prohibiting it from foreclosing on two properties owned by TCI Luna. No. 05-12-00653-CV, 2013 Tex. App. LEXIS 1745...more

Maryland's highest court blocks another foreclosure defense

On March 22, 2013, the Maryland Court of Appeals clarified the meaning of an "endorsement in blank" on mortgage notes, saying that physical transfer without additional endorsement stamps gives the loan servicer standing to...more

MICHAEL L. JONES v WELLS FARGO BANK

UNITED STATES DISTRICT COURT EASTERN DISTRICT OF LOUISIANA OPINION AFFIRMING $3.1 MILLION PUNITIVE DAMAGE AWARD AGAINST WELLS...

UNITED STATES DISTRICT COURT EASTERN DISTRICT OF LOUISIANA MICHEAL L. JONES vs WELLS FARGO BANK OPINION Before the Court is Appellant Wells Fargo Bank, N.A.'s Appeal from a decision of the United States...more

In re: Chapter 7 Case No. 11-24269 JUANITA STRASSFIELD, Debtor.

ORDER DENYING WELLS FARGO’S MOTION TO VACATE AUTOMATIC STAY BASED ON FILING FALSE DOCUMENTS WITH THE COURT

ORDER DENYING WELLS FARGO’S MOTION TO VACATE AUTOMATIC STAY AND PARTIALLY GRANTING RELIEF SOUGHT IN OBJECTIONS THERETO Upon the motion, dated January 24, 2012 (the “Motion”), of Wells Fargo Bank, N.A. (“Wells Fargo”) to...more

Illinois Supreme Court Holds Judgment of Foreclosure Not Immediately Appealable

Under Illinois law, a judgment of foreclosure does not end a mortgage foreclosure case; it remains modifiable by the trial court and is strictly interlocutory. After such a judgment is entered, the property is sold once...more

Rogers Towers: The Threat of Lien Stripping in “Chapter 20” Bankruptcy

As discussed in the McNeal posts below, junior mortgage holders are increasingly finding that their mortgages are worth less than the paper they were printed on. Especially troubling to lenders, are conflicting decisions that...more

Will Filing for Chapter 7 Bankruptcy Stop Foreclosure?

In short, YES. Filing a bankruptcy, whether it be Chapter 7 or Chapter 13, will stop the foreclosure process. However, filing a Chapter 7 bankruptcy may not stop the process permanently. When a Chapter 7 bankruptcy is filed,...more

Homeowners Alert: Foreclosure Prevention In GA

Good news for some struggling Georgia homeowners who have been "hit the hardest" by the economy. A program to "prevent foreclosures" has been launched by the State of Georgia, Department of Community Affairs under the name...more

CFPB Proposes New Servicing Rules - TILA

On September 26, 2012, we notified you about the proposed rules promulgated by the Bureau of Consumer Financial Protection (Bureau) to amend Regulation X, which implements the Real Estate Settlement Procedures Act (RESPA)...more

FHFA Can Pursue Claims Against Non-Debtor Affiliates of Residential Capital

On July 17, Judge Denise Cote of the United States District Court for the Southern District of New York ruled that the Federal Housing Finance Agency (“FHFA”) can pursue certain RMBS-related claims against affiliates of...more

Rogers Towers: “Down” is Out, “Off” is In: Stripping Liens in Chapter 7 after McNeal

Prior to the real estate market crash in 2008, homeowners routinely borrowed against the equity in their homes, in turn, granting lenders second or even third mortgages. However, once the market crashed, their equity...more

Bankruptcy and Evictions

If you are faced with an eviction notice from your landlord for not paying your rent, could you file a bankruptcy petition and repay your debt through bankruptcy? If it was before 2005, it was legally possible. But post-2005...more

What does the Eaton decision mean for Massachusetts homeowners facing foreclosure?

If you are a Massachusetts resident that faces foreclosure or may be facing foreclosure in the future, you sure want to read this post. Contact: George E. Bourguignon, Jr. Phone: (508) 769-1359 or (413)...more

Eaton v. Federal National Mortgage Association

Final decision in Eaton, the decision that changes foreclosure practice in Massachusetts.

This is a copy of the long-awaited, important Massachusetts decision concerning foreclosures in Massachusetts titled Eaton v. Federal National Mortgage Association. It was issued 22 June 2012 and makes a substantive change...more

Slumlords and Deadbeats: Issues in Landlord/Tenant Bankruptcy

In This Presentation: - Non-residential Real Property Leases as Part of the Bankruptcy Estate - A Debtor-Tenant’s Obligations and a Landlord’s Protections Under §365(d)(3) - "Obligations" Arising From and Under the...more

Supreme Court Affirms the Right of Secured Creditors to Credit Bid in a Sale under a "Cramdown" Plan of Reorganization

On May 29, 2012, in RadLAX Gateway Hotel, LLC v. Amalgamated Bank, the United States Supreme Court unanimously held that a debtor may not confirm a chapter 11 plan of reorganization providing for the “free and clear” sale of...more

SCOTUS' RadLAX Decision Affirms Lenders' Rights to Credit Bid in Chapter 11

May a Chapter 11 plan permit a debtor to auction property free and clear of a creditor’s lien while preventing that creditor from credit-bidding the amount of its debt? A question that split the U.S. Circuit Courts was...more

Should You File for Bankruptcy if Evicted?

In my previous article, I wrote about what to do if your landlord files for bankruptcy protection. Today, I will write about the shoe being on the other foot. What if you as the tenant files for bankruptcy? The most common...more

Bankruptcy Court in Illinois Holds that a Mortgage is Avoidable in Bankruptcy if the Mortgage as Recorded Does Not State the...

In a decision that potentially has serious implications for mortgage financing transactions in Illinois, the Bankruptcy Court for the Central District of Illinois recently held that a mortgage is avoidable in bankruptcy if it...more

What should I do if I dispute the amount that I owe to a creditor?

If you believe that a creditor is collecting an amount that is wrong or for a debt that is not owed by you, then you want to read this post and find out one new tool available for Massachusetts consumers. Contact: George E....more

Mortgage Defense and the Law of Restitution

Wanton and willful financial misconduct in the origination, securitization, servicing and foreclosure of a mortgage debt will not bar collection and enforcement of the debt. Notwithstanding the creditor’s misconduct, the...more

IN RE: CASE NO. MICHAEL L. JONES 03-16518 CHAPTER 13

MICHAEL L. JONES vs WELLS FARGO BANK ADVERSARY COMPLAINT RE: Punitive Damage Award of $3,171,154.00 Against Wells Fargo Bank

United States Bankruptcy Court Eastern District of Louisiana in re: Michael L. Jones v Wells Fargo Home mortgage. The Court finds that a punitive damage award of $3,171,154.00 million is warranted to deter Wells Fargo...more

Fight Foreclosure with Bankruptcy

Here’s a fact that few people realize – Bankruptcy is your friend. Seriously. Bankruptcy is your right under the law. The bankruptcy code gives you the option of filing for bankruptcy protection and have your debts...more

InfoBytes Special Alert: Federal and State Officials File Settlement with Nation's Five Largest Mortgage Servicers

On March 12, 2012, Federal and state officials filed documents in the United States District Court for the District of Columbia formalizing a previously announced settlement (the Settlement) of various government probes into...more

Susquehanna Bank v. United States of America (In Re Restivo Auto Body, Inc.

Plaintiff's memo of law in support of it's motion for summary judgment against the IRS

A lender holding $1 Million lien on bankrupt's real property sued for lien priority over approximately $200,000 in IRS liens attaching to the same property. The parties filed cross-motions for summary judgment, based on very...more