January 17 is Martin Luther King Day, but unlike many, I won’t be “off” from work. I’ll be presenting at and attending the ABI’s Northeast Consumer Winter Conference at Suffolk University Law School in Boston. I can understand how it might seem disrespectful to be attending a conference on a day when we should be celebrating the life of a civil rights leader. But it is also, I think, particularly fitting. Let me explain…
Archive for the ‘Chapter 13’ Category
The Light at End of the Tunnel
Friday, November 12th, 2010
With the midterm elections over, I am left to wonder: how will the new Congress help struggling Americans who face losing their home. Will there be better and more streamlined mortgage modification programs? Will there be a shift in the economic climate that will promote jobs growth? Will Congress again take up the debate of amending the bankruptcy code to allow owners of single family residences to modify their loans in chapter 13?
I am not optimistic.
Episode 6
Saturday, November 6th, 2010
The mission: to convince Congress that Section 1322(b)(2) must be amended to allow struggling homeowners to modify the loans securing their principal residences.
The challenge: coming up with ideas no one else has.
The result: hilarity. Hopefully.
Episode 5
Saturday, October 30th, 2010
In this special Halloween episode of Law & Propaganda: Emergency chapter 13s, surgical procedures and other scary things.
A Massachusetts Foreclosure Moratorium? Yes, but…
Monday, October 4th, 2010
I admit that I have a stick in my craw. In May 2008, Massachusetts (a non-judicial foreclosure state) imposed a 90 day cooling off period to give time for defaulting home loan borrowers to work with their lenders. This summer, that period of time got extended to 150 days. Now, there are calls for a “foreclosure moratorium” in Massachusetts. I am not a fan of what I think is this inevitability, but before y’all think I’ve really fallen off my rocker, let me give you my perspective, and why I think we need to not just think about the moratorium – but for who and for how long.
Law & Propaganda
Saturday, September 25th, 2010
Mercedes Rule
Tuesday, August 31st, 2010
A rather interesting decision has come out of the Bankruptcy Court for the Northern District of Texas at Dallas. The decision is only 4 pages, but in addition to quoting Janis Joplin, it speaks to something that debtors need to hear, that people thinking about bankruptcy need to hear, and that attorneys practicing in bankruptcy court sometimes need to be reminded of.
While the decision follows this blog, I’ve filled in the lines a bit by looking at the public records and bringing in some additional facts.
20/5 Redux: Things I Won’t Do
Monday, August 30th, 2010
In July 2009, I blogged about “Things I Won’t Do” which includes taking what I know will be someone’s last buck to file a bankruptcy case that I know will fail… and there seems to be this level of agnst that I cannot help them. I’ve received a few calls lately from folks who have not read it. So I’m posting it again with the reminder that I’m in the business of helping people move forward in their lives.
Or as I said recently to someone, “I’m a bankruptcy lawyer. I cannot turn water into wine.”
20/5 Redux: Thoughts on When to “Walk Away”
Thursday, August 26th, 2010
This was first posted in March 2008. More than two years later, the housing market is still in the pits, and more folks are opting to simply walk away from real estate they can no longer afford. Little has changed. And I dare say, it’s getting worse (although those seeking relection this year might want to disagree). If you own a condo or are in a homeowners association, the 2005 changes to the Bankruptcy Code force you to take some new issues into consideration.
Barney Frank: Please Read This
I have a bone to pick with Barney Frank. Yesterday, a new multi-million dollar loan program was rolled out by HUD. Sharing in the local announcements were local Congressmen and other elected officials.
According to a Boston Herald report:
Boston.com reported the program a little differently, but in substance, it’s the same.
That smells a bit like “hope.” So I’m afraid the sound of this program ruffles my feathers a bit. But what compels me to write is this quote, which also appeared in the same Boston Herald report:
Really?
I’m going on record: Mr. Frank, I’m no anarchist I find this program offensive. So today, I write this blog to you.
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Tags: Bankruptcy, Bankruptcy Abuse Prevention & Consumer Protection Act of 2005, Chapter 13, Commentary, Consumer Protection, foreclosure, Homes, homesteads and real estate, In the News, Mortgages and Foreclosures, Yep. We're in trouble.
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