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Should a Chapter 7 Debtor Reaffirm a Mortgage?

Many people who file chapter 7 bankruptcy keep their homes. They keep paying the mortgage or mortgages, pay the insurance and taxes. You have a Chapter 7 discharge, you cannot be sued personally if you default, unless you sign a reaffirmation agreement with the mortgage company that is timely filed in the bankruptcy court, and do not rescind. Is reaffirming a good idea? Go here to read the rest: Should a Chapter 7 Debtor Reaffirm a Mortgage? Continue reading here: Should a Chapter 7 Debtor Reaffirm a Mortgage?

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2010 07 02 admin Uncategorized Comments Off

Jones v. Wells Fargo Home Mortgage, Inc. (In re Jones)

This Emerging Issues Analysis examines a bankruptcy court’s decision to order the implementation of certain accounting procedures where punitive damages alone would not make the mortgage company change its behavior. The court relied on its own inherent authority as well as the author

Also tagged author, authority-as-well, bankruptcy law center, bankruptcy-court, certain-accounting, emerging-issues, implementation, its-own, not-make, order-the, the-author, the-mortgage

2010 03 10 Baxter & Baxter, LLP Uncategorized Comments Off

SEC sues 3 former officers of Irvine subprime lender New Century Financial

Regulators accuse the three of manipulating numbers and concealing negative information from shareholders as the company collapsed into bankruptcy. Almost three years after New Century Financial Corp. collapsed in the first phase of the mortgage meltdown, three former executives of the Irvine company were accused by regulators Monday of misleading …

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2009 12 08 admin Uncategorized Comments (0)

SEC sues 3 former officers of Irvine subprime lender New Century Financial Corp.

Regulators accuse the three of manipulating numbers and concealing negative information from shareholders as the company collapsed into bankruptcy. Federal regulators today sued three former officers of New Century Financial Corp., accusing them of misleading investors of the Irvine subprime lender as the mortgage meltdown began in 2006.

Also tagged accuse-the, accuse-the-three, century, lender-as-the, meltdown-began, numbers-and, subprime-lender, sued-three, the-mortgage

2009 12 07 admin Uncategorized Comments (0)

About 1 In 4 Borrowers Is Underwater

The Wall Street Journal says the number of borrowers currently underwater on their mortgage (meaning they owe more than the property is worth) has swelled to 23%. Ouch. On the bright side, there are still more homeowners who don’t even have a mortgage then there are ones who are …

Also tagged bright, currently-underwater, mortgage-then, number, owe-more, property, says-the, street-journal, their-mortgage

2009 12 01 admin Uncategorized Comments (0)

US Economy: Existing Home Sales Jump as Prices Fall – Bloomberg

The Associated Press US Economy: Existing Home Sales Jump as Prices Fall Bloomberg Nov. 23 (Bloomberg) — Sales of existing US homes jumped 10 percent in October to the highest level since February 2007 as Americans rushed to take advantage of a tax credit, cheaper properties and lower mortgage …

Also tagged a-tax-credit, bloomberg, bloomberg-nov-, economy, existing, existing-home, highest

2009 11 23 Baxter & Baxter, LLP Uncategorized Comments (0)

NJ Resorts casino gets OK to give keys to lenders

ATLANTIC CITY, N.J. – (AP) America’s first casino to open outside Nevada got permission Thursday to hand itself over to its lenders because it can’t pay the mortgage. Resorts Atlantic City hammered out a deal with its lenders to let them own the casino in return for canceling nearly View …

Also tagged a-deal-with, america, atlantic, city, hammered-out, hand-itself, its-lenders, nevada, open-outside, pay-the, resorts-atlantic, return-for

2009 11 20 admin Uncategorized Comments (0)

Mortgage modification hurts your credit

QUESTION 1: I wanted to know if you could tell me how much longer the tax credit for first-time homebuyers will be available? I am a US citizen living abroad and plan to purchase a condominium in Texas-would this tax credit apply to me for that? More here: Mortgage …

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2009 11 20 Baxter & Baxter, LLP Uncategorized Comments (0)

NY judge: Mortgage scammer to give lectures (AP)

AP – A Long Island woman convicted of acting as a “straw buyer” in a mortgage fraud scam has been ordered to give lectures on the perils of participating in such criminal schemes. Read more: NY judge: Mortgage scammer to give lectures (AP)

Also tagged a-mortgage-fraud, been-ordered, give-lectures, island, lectures-on-the, mortgage-fraud, perils, scam-has, straw-buyer, such-criminal, the-perils, woman-convicted

2009 11 19 Baxter & Baxter, LLP Uncategorized Comments (0)

AIG profitable for second straight quarter

AIG reported its second profitable quarter in a row early Friday, as stabilization in the mortgage and credit markets helped boost results. Read more from the original source: AIG profitable for second straight quarter

Also tagged a-row-early, aig, friday, profitable-for, reported-its, second-profitable, second-straight, the-mortgage, the-original

2009 11 06 admin Uncategorized Comments (0)

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