The Wall Street Journal reports today that Freddie Mac, Fannie Mae and their regulator provided for a “low down-payment mortgage program, which could open homeownership to thousands of cash-strapped borrowers. Here are some highlights: Borrowers could be able to get a mortgage with a down payment of as little as 3%. loans will be available […]
Can a person who is a guarantor of a mortgage be held liable for the deficiency after after a house is foreclosed? According to a recent decision by the Georgia Court of Appeals, the answer is yes. Guarantor liability from foreclosures just took a harsh turn for guarantors in Georgia. In COMMUNITY & SOUTHERN BANK […]
When my first daughter was just a little thing, she would say, “Noni! Noni!” whenever she did not approve of something. I thought it was so cute. Like many parents do, I started saying it as well. Fast forward many years later. I still say “Noni! Noni!” and my daughter does not. In my family […]
“A deluge has swept through U.S. bankruptcy courts of late. Consumer debt buyers – armed with hundreds of delinquent accounts purchased from creditors – are filing proofs of claim on debts deemed unenforceable under state statutes of limitations,” writes Judge Richard Goldberg in Crawford v. LVNV Funding LLC, et al (11th Circuit 7/10/14). For years, […]
Bankruptcy can be tricky. I recently met with a potential bankruptcy client who had filed her first case on her own (also known as a pro se bankruptcy). Like almost all pro se bankruptcy cases, it got dismissed. After she came to meet with me to discuss refiling the bankruptcy case, she was completely shocked […]
Every now and then, I will have a potential client that walks into my office with only one creditor problem. My frustrated potential bankruptcy client will say, “I cannot believe I am going to have to file bankruptcy because of this one nasty creditor. Is there any other way out of this tangled mess?” Is […]
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