News & Analysis as of

SCOTUS Denies Certiorari In Lien Stripping Case

On March 31, the U.S. Supreme Court denied a petition for a writ of certiorari in an Eleventh Circuit case that raises the issue of whether, under section 506(d) of the Bankruptcy Code, a chapter 7 debtor can “strip off” a...more

What Happens When You File for Bankruptcy?

Filing for bankruptcy has several immediate effects that can provide tremendous relief to people and businesses struggling with bills and debt collectors. However, while these are an important part of bankruptcy, the effects...more

Illinois Legislature and Court Clarifies Confusion on Mortgage Requirements after In re Crane

A new Illinois law will close a loophole through which some mortgages could be subject to avoidance in bankruptcy. The loophole, created by U.S. Bankruptcy Court’s (C.D. Illinois) 2012 In re Crane opinion, allowed a...more

Bill on Bankruptcy: Trustees Sleep Easy after High Court Ruling  [Video]

May 15 (Bloomberg Law) -- Trustees of all types are sleeping easier, knowing that their liabilities for theft by a co-trustee is a debt that can be wiped out in bankruptcy as a result of a unanimous Supreme Court decision...more

Bankruptcy in Arizona’s Improving Economy

Things have been bad for a long time. Here in Arizona bankruptcy filings have been near 40,000 per year for several years. However, this year things seem to be improving. Bankruptcy filings are down – significantly. That...more

Roger Towers: Though not Precedent, McNeal Proves Persuasive in Southern District of Florida

Mortgage modification has long been an angst-ridden topic for consumer creditors. The issue once again rose to the forefront in May of 2012, when the Eleventh Circuit issued the unpublished opinion of In re McNeal, wherein...more

North Carolina Court of Appeals Allows Borrower to Take Breach of Fiduciary Duty Claims Against Lender to a Jury

In what may be a first for a North Carolina appellate court, the North Carolina Court of Appeals has reversed the entry of summary judgment for a lender on a borrower’s breach of fiduciary claim. In Dallaire v. Bank of...more

What Happens to Your Mortgage Loan When You File Bankruptcy?

When you are in financial distress, staying on top of your mortgage can be difficult. Are you considering bankruptcy as an option? Before filing bankruptcy, you should take a moment to understand how it may affect your...more

Freddie Mac Announces Standard Deed-in-Lieu of Foreclosure

On November 15, Freddie Mac announced the new Freddie Mac Standard Deed-in-Lieu of Foreclosure (DIL), which is designed to serve as a workout option for borrowers for whom neither a home retention alternative to foreclosure...more

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