Bankruptcy

Unconscionable Conduct by purported Wells Fargo Collection Agent - Thank them for informing you of the debt then. . . . JUST HANG UP. . . . you don't have to listen to harassment.

Posted on April 16, 2010
It absolutely breaks my heart to hear stories like this.  Mr. Tums (Anonymous Name) age 71 years old and his Wife (Age 73) have been Wells Fargo Customers for over Eleven years.  After losing money on a real estate investment they are contemplating filing a bankruptcy...

Cramdown - Found this very interesting case. A vehicle which was purchased and used primarily for business purposes which was purchased within the past 910 days may be crammed down.

Posted on March 28, 2010
This is an important case for those of you who recently purchased a car to use in your business, BUT now find yourself needing to file bankruptcy.IN RE DENNIS & JESSICA HASKINSIn re: Dennis & Jessica Haskins, Chapter 13, Debtors.Case No. 09-10520...

Historic Health Care Reform 2010

Posted on March 21, 2010

Litton Loan Servicing

Posted on March 19, 2010
I have a client who I filed a chapter 13 bankruptcy on the eve of foreclosure. Her lender is Litton Loan Servicing. Her payments are too high and I doubt she will be able to complete her chapter 13 plan. However, with a loan modification she could do it...

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OneWest Bank Sells Home at Foreclosure to 3rd Party Despite the Fact Homeowner was in an OBAMA Trial Loan Modification Program

Posted on March 13, 2010
Hello Readers:The news only seems to get worse. In December 2009, Congress re-visited the idea of allowing Bankruptcy Judges to reduce the principal balance owed on first mortgages on a borrower's residence. This is referred to as a "Cramdown" aka "Cram-down" This concept was suppose to the be the "STICK" against the mortgage lenders if they failed to play fair when it came time to offering a loan modification...

UNFAIR DEBT COLLECTION PRACTICES - Time for you to Fight Back

Posted on February 28, 2010
Dear Readers:Yesterday I had the privilege to attend a seminar put on in part by Amy Clark-Kleinpeter with the Central District Consumer Bankruptcy Attorneys Association.She taught about what constitutes unfair debt collection practices. Most of us already know that creditors are not suppose to call you before 8:00 a...

HAMP Program Is a Dismal Failure - Bank of America one of the worst in providing loan modifications to its customers. BOYCOTT BofA NOW!

Posted on February 19, 2010
Alan White recently reported "Million homeowners have been lured into temporary payment plans with false promises of permanent loan restructuring.  After 11 months, only one in ten has had their mortgage permanently modified.  More disturbing is the fact that these one million homeowners in trial mods, i...

What to do with a 1099 you receive from lender post foreclosure or shortsale

Posted on February 13, 2010
If you owe a debt to someone else and they cancel or forgive that debt, the canceled amount may be taxable.The Mortgage Debt Relief Act of 2007 generally allows taxpayers to exclude income from the discharge of debt on their principal residence. Debt reduced through mortgage restructuring, as well as mortgage debt forgiven in connection with a foreclosure, qualifies for the relief...

Why you won't be getting a permanent loan modification. Its time to boycott every major bank!

Posted on February 12, 2010
Video Marketing and Mortgage News Designed for Mortgage and Real Estate SalesThese guys confirm what I have been saying all along. There is a reason why the banks don't want you to have a loan modification. They put you into a trial loan modification hoping you blow a payment or you don't have proof you are submitting documents...

A Note to Homeowners from the Federal Trade Commission Re Loan Modification Fraud - If they can't help you, I will.

Posted on February 05, 2010
Dear Readers:I received a recent notice form the Federal Trade COmmission. I have reprinted it below. I strongly agree with this message. At this point, it is clear the banks are playing unfair. I really believe they don't want you to have any representation when it comes to applying for a loan modification...

AURORA LOAN SERVICES ATTORNEYS SHOCKED AND STUNNED! Major loss for Aurora!

Posted on February 03, 2010
Finally we got a victory! Let's hear it for Mr. George Nicoletti who secured this victory against Aurora. If you are losing your house in foreclosure call him. He might be able to do for you what he did for Ms. Chavez!Plaintiff's Counsel: George Nicoletti, Esq...

CALL YOUR REPRESENTATIVE NOW - CRAM DOWN CRAMDOWN CRAM DOWN

Posted on December 07, 2009
Dear NACBA Member,YOUR ACTION IS NEEDED NOW! Later this week, key members of the House of Representatives will offer an amendment to the financial services regulatory overhaul bill that would incorporate the substance of H.R. 1106, approved earlier this year by the House of Representatives...

Loan Servicers and Lenders set up homeowners to fail loan modification applications in bad faith. Is anyone listening?

Posted on December 04, 2009
On Fri, Dec 4, 2009 at 8:25 AM, Jean asked: I am wondering if any of you have experience with the Obama Administration?s modification program, HAMP. If so, I am wondering if you think the NY Times has it right in this column about why so few of these modifications are becoming permanent...

Aurora Home Loan Services takes another punch for bad faith loan modifications.

Posted on December 01, 2009
In a recent tentative ruling in the Fresno Superior Court, let us all congratulate Judge Simpson of starting to understand what is happening with the loan modification process. There is authority to uphold a partially performed loan modification agreement...

This is WHY you should attend ALL of the Foreclosure Sale Dates

Posted on November 27, 2009
Hello again from the trenches. The tide is turning and the courts are starting to catch on that the banks and the trustees foreclosing on your properties are not playing by the rules. A piece of advice from one of our warriors George Nicoletti states that if you have a foreclosure sale date and your bank continues it, if you are able, go yourself or send someone to the auction, even if the bank has agreed to continue the foreclosure sale date...

Judge in New York wpes out Mortgage in Chapter 13 Bankruptcy

Posted on October 26, 2009
My new hero . . . . David B. Shaev, consumer bankruptcy lawyer in Manhattan who is responsible for getting this result!"Oct. 9 in federal bankruptcy court in the Southern District of New York. Ruling that a lender, PHH Mortgage, hadn?t proved its claim to a delinquent borrower?s home in White Plains, Judge Robert D...

Judge Philip S. Gutierrez Get's It Wrong! Civil Code, §1632 - State Law Requiring Language Translations Does Apply to Federally Chartered Banks!

Posted on October 02, 2009
In a recent opinion by the US District Court on July 30, 2009 in the matter of Alberto Paz v. Wachovia Mortgage Corp, et al. Judge Philip S. Gutierrez issued an Order determining that Civil Code, §1632 is preempted by federal law. As you will read below, the basis of his ruling is that federal law requires that any state law attempting to regulate what must be disclosed on a loan is preempted...

UNLESS YOUR BANK SIGNS YOUR LOAN MODIFICATION - YOU DON'T HAVE ONE

Posted on September 08, 2009
Check out this case:It basically states that unless your lender actually signs your loan modification agreement then YOU DON'T HAVE A LOAN MODIFICATION.Has anyone actually gotten a signed loan modification?Watch OUT!167 Cal.App.4th 544, 84 Cal.Rptr.3d 275, 08 Cal...

Senator Ron Calderon Feeding His Constituents to the Banking and Real Estate Wolves

Posted on September 03, 2009
Hi Everyone: I have had to sit back and regroup a bit as I am overwhelmed how this mortgage banking and real estate fraud is playing out. This month's "Adding Insult to Injury" Award goes to Senator Ron Calderon. Along with the California Escrow Association, United Trustees Association, and Escrow Agents' Fidelity Corporation he authored Senate Bill 306 - the Omnibus Mortgage Legislation...

Senator Calderon Selling Out to the Banking Interests

Posted on September 03, 2009
Senate Bill No. 306CHAPTER 43An act to amend Sections 2923.5, 2923.6, 2924.8, and 2924f of, and toamend, repeal, and add Section 2943 of, the Civil Code, and to amendSection 17312 of the Financial Code, relating to real property transactions.[Approved by Governor August 5, 2009...

INDIA CALL CENTERS FOR BANK OF AMERICA DO NOT HAVE SAME INFO AS US CALL CENTERS

Posted on August 04, 2009
A report from the trenches.Today my staff called Bank of America to follow up on a loan modification which had been in pending status. She reached a call center and provided the loan information to the person answering the phone with the social security number, name of client, etc...

Dawn Kopecki is Reporting that Cram-Down Bill may be BACK!

Posted on August 03, 2009
House Financial Services Committee Chairman Barney Frank threatened to revive the mortgage ?cram- down? bill that stalled in Congress this year, saying lenders aren?t being aggressive enough in modifying troubled home loans.Cram-downs let federal judges lengthen terms, cut interest rates and reduce mortgage balances of bankrupt homeowners, even if the lender objects...

New SpringWidget

Posted on August 01, 2009
Get this widget!Something Funny

IF YOU NEGOTIATED LOAN IN SPANISH AND GOT ONLY ENGLISH LOAN DOCUMENTS CALL ME ASAP!

Posted on July 24, 2009
FEDERAL JUDGE ORDERS FORECLOSURE SALE STOPPED BECAUSE LOAN DOCUMENTS NOT IN SPANISHMr. Jose Perez negotiated a home loan in Spanish but all of his loan documents were in English. "It is unfair, illegal and violates the most basic notions of decency and fair dealing" argued Mark Potter of the law firm Potter Handy, LLP...

SENATE LIKELY TO REVISIT BANKRUPTCY CRAMDOWN ON PRINCIPAL RESIDENCE AGAIN!

Posted on July 20, 2009
Recently received this juicy bit of news! July 16, 2009NOTICE OF SUBCOMMITTEE HEARINGThe Senate Committee on the Judiciary, Subcommittee on Administrative Oversight and the Courts will hold a hearing entitled " The Worsening Foreclosure Crisis: Is It Time to Reconsider Bankruptcy Reform?" on Thursday, July 23, 2009 at 10:00 a...

Governor Schwarzenegger is now trying to limit your ability to receive competent loan modification assistance!

Posted on July 13, 2009
Official NACBA CommunicationTo all California NACBA members:I am writing to let you know that last Friday, NACBA's Board of Directors approved our taking action to oppose pending state legislation (Assembly Bill 764/Senate Bill 94), which would bar attorneys from requesting or receiving advance retainers for work on loan modifications for borrowers...

CALL YOUR SENATOR NOW REGARDING BANKRUPTCY CRAM-DOWN

Posted on July 01, 2009
Al Franken wins Senate seat paving way for Obama's Democratic agenda. President Barack Obama was handed a major boost to his efforts to push an ambitious array of legislation through Congress when Democrat Al Franken was declared the winner of an eight-month battle over a Minnesota Senate seat...

R. GRACE RODRIGUEZ WILL VOLUNTEER FOR FREE SATURDAY JUNE 27, 2009

Posted on June 25, 2009
FREE LAWYERS TO ASSIST WITH LOAN MODIFICATIONS 6/27/09 10am - 2pm (Panorama High School) Reply to: serv-vhwbv-1240022382@craigslist.org [Errors when replying to ads?] Date: 2009-06-25, 6:40PM PDT The Law Offices of R. Grace Rodriguez is proud to volunteer for Neighborhood Legal Services of Los Angeles County and New Economics for Women with their homeowner Loan Modification Fair...

The Organization for Economic Cooperation and Development says the bleeding has nearly stopped!

Posted on June 24, 2009
According to the Organization for Economic Cooperation and Development we are in the deepest global recession in over sixty years. However, Secretary General Angel Gurria stated at a news conference this morning that the global economy is showing a slight improvement despite predictions that the US Economy will continue to shrink another 2...

Good news about Loan Modifications

Posted on June 21, 2009
My staff and I successfully obtained three loan modifications this week for our clients. We have six more clients who are going into what is called a "trial modification." Essentially the trial modification period will allow the borrower to make three payments at a reduced payment rate which is supposed be right around what a permanently modified rate should be...

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