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Loan Modifications › Debtors

Loan modifications are changes made to the terms of an existing loan outside the specifications contained in the original loan agreement. In a mortgage situation, loan modifications are typically made to assist... more +
Loan modifications are changes made to the terms of an existing loan outside the specifications contained in the original loan agreement. In a mortgage situation, loan modifications are typically made to assist borrowers in meeting their obligations and avoid foreclosure. Such mortgage loan modifications may include reduction of principal amount or interest rate, lengthening of loan term, and monthly payment caps. less -
Ward and Smith, P.A.

Individual Chapter 11 Plans Also Are Just About Written in Stone

Ward and Smith, P.A. on

In an article last year, we informed you about a ruling from the United States Bankruptcy Court for the Eastern District of North Carolina, in In re Royal, holding that debtors seeking modification of a confirmed Chapter 13...more

Patterson Belknap Webb & Tyler LLP

Court Holds that Bankruptcy Judges Cannot Impose Punitive Sanctions

Patterson Belknap Webb & Tyler LLP on

Bankruptcy courts lack the power to impose serious punitive sanctions, a federal district judge ruled recently in PHH Mortgage Corporation v. Sensenich, 2017 U.S. Dist. LEXIS 207801 (D. Vt. Dec. 18, 2018). Judge Geoffrey...more

Seyfarth Shaw LLP

Sixth Circuit Weighs In On Prior Express Consent

Seyfarth Shaw LLP on

Under what circumstances does a person give his “prior express consent” to be contacted on his cellphone by a creditor? The Sixth Circuit recently examined that very question in Hill v. Homeward Residential, Inc., where it...more

Buchalter

How to Aggressively Defend Against Lender Liability Lawsuits

Buchalter on

Introduction - Following an economic downturn, lenders are inundated with lender liability suits typically based on purported promises to extend the maturity dates of loans, alter the terms of loan agreements, or to...more

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