Seeing An Old Problem Through New Eyes

Matt Weidner blogged this week about the Texas Law Review article authored by law professor Katherine Porter back in 2008 entitled Misbehavior and Mistake in Bankruptcy Mortgage Claims.  Max offered his own commentary on the study as well. It’s easy for those of us immersed in the mortgage industry shell games on a daily basis to become accustomed to the kind …

Why One Boot Camper Hates Wells Fargo

Actually, our title might be a little misleading.  While we’re pointing you to one boot camper’s post about why he hates Wells Fargo, it’s a safe bet that many other boot campers – and many other bankruptcy attorneys around the country – share his negative feelings about this particular bank.  If you’ve experienced Wells Fargo’s unique policy on freezing bank …

Max on Nevada Public Radio

Max made an appearance on Nevada Public Radio this morning to talk about the leverage bankruptcy can provide homeowners facing foreclosure and describe some of the most common flaws in the transfer process and actions taken by banks and mortgage servicers to try cover up those problems or repair breaks in the chain of title after the fact. Michael Joe, an …

Bootcamper’s Allegations Against LPS, Prommis Draw Media Attention

Bootcamper Nick Wooten filed a third amended complaint in Thorne earlier this week and drew immediate attention from Daily Finance.  The potential ramifications for the defendants are staggering–as Naked Capitalism pointed out in a recent post, the common remedy for illegal fee sharing is disgorgement. And, Daily Finance adds, “Since every dollar of revenue both foreclosure subsidies have ever earned …

Foreclosure Fight? Bankruptcy Is Best, Says the Dean

Via PBS Newhour. Name: Laura Hanson Question: Like so many others, I have an unaffordable mortgage getting worse every day. Eventually I will have to foreclose or sell. Is there only help for people who are already foreclosing or is it possible to get better help than the sham modification loans offered to those of us not yet in foreclosure? …

Bankruptcy Court More Effective Than Loan Modification Efforts

From Start Fresh Today. Homeowners are finding that obtaining a loan modification even with an attorney’s assistance is costly, lengthy and only 50% successful. Filing for bankruptcy has become a viable option for consumers earning an income but facing foreclosure. Helping a client file for Chapter 13 bankruptcy and putting together a plan allowing the homeowner to catch up on …

Bankruptcy: Doomsday? No, but …

A quote from Max from the Chicago Tribune. The advantage of bankruptcy is that foreclosures, evictions, repossession, garnishment of wages or Social Security payments, utility shut-offs and collections calls stop. If a person waits too long to file, a legal judgment might eliminate options for saving an asset. “Do not wait until the car is on the verge of repossession …

Congress Finds BAPCPA Ineffective?

From the Bankruptcy Lawyers Blog. Late last week, the Congressional Research Service, the public policy arm and “Congress’ think tank,” released a report entitled “Consumer Bankruptcy and Household Debt” which focused on the effect of its 2005 Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) in reducing consumer bankruptcy filings. As we all know, filings have increased every calendar quarter …