Evidentiary Objections – Keys to Defending Foreclosure Cases

Attorney Matthew D. Weidner penned a blog post today titled Evidentiary Objections – Keys to Defending Foreclosure Cases.  It states why so many foreclosures today are not properly defended.  Here is a copy of his post: The vast majority of properly-defended foreclosure cases get bogged down somewhere right around the Motion to Dismiss stage. The quality of records and information maintained …

Loan Modifications and the Secret NPV

Mandelman Matters sheds light on the NPV test that is used in HAMP and gives recommendations for those seeking loan modifications: It would be sort of like giving you a scientific calculator and then asking you if light travels at 3.00 E8 m/sec, how fast is that in MPH? Except if you get it wrong, you lose your house.

Equal Monthly Payments and the Modification of Mortgages in Chapter 13

Consumers facing a home mortgage foreclosure may find bankruptcy is the most effective option for saving their home.  The dismissal statics from the Department of the Treasury of the number of permanent modifications under the Homeowners Affordable Modifciaton Program (HAMP) make Chapter 13 the only real option for the vast majority of distressed consumers with family homes. Chapter 13 is …

NOT So Simple Interest

Mortgage servicer’s accounting systems are typically unable to correctly calculate the proper application of funds once a debtor files for Chapter 13 Bankruptcy. Most are not willing to hire properly trained staff to make the correct calculation and are willing to “take the chance” the debtor/borrower will never question payment applications during the pendency of a chapter 13 bankruptcy.

The Broken System of Debt Collection

Check out this blog post by Boot Camp graduate Brian Cannup.  Brian comments on the story “Automatic Debt-Collection Lawsuits Engulf Courts” in the New York Times. The Federal Trade Commission is encouraging all states make modifications to their debt collection statutes to promote involvement by the alleged debt collector.  In a report titled, “Repairing a Broken System“, the Commission addresses the …

Amber Waves of Debt

From Before It’s News, there is an article titled Its Chapter 66 As U.S. States Face De Facto Bankruptcy which describes how a number of U.S. states are facing bankruptcy – in fact if not in name – with Illinois and California leading the way. When an individual goes bankrupt in the United States, it’s usually a Chapter 7. When a …

Strategic Defaulters as the New Welfare Queens

The blog Naked Capitalism has a well thought out post by Yves Smith that debunks the hysteria about residential home strategic defaults.  Here is an excerpt of her analysis: 1. The strategic default “trend” is almost without a doubt wildly exaggerated. First, while foreclosures are rising, it’s the result of banks finally starting to move on a seriously clogged pipeline. …