Blog Posts in October, 2008

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  • Mortgage Companies Afraid to Modify Mortgages Because of Securitization Mess
    Mortgage Companies Afraid to Modify Mortgages Because of Securitization Mess

    This article from the New York Times has an interesting quote: So far, many companies have been reluctant to aggressively reduce payments because they are afraid that borrowers might default again or ...

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  • Bloomberg: It’s Easier to Keep a Second Home in Chapter 13 than your Primary Residence
    Bloomberg: It’s Easier to Keep a Second Home in Chapter 13 than your Primary Residence

    Interesting analysis on Bloomberg.com stating that it is easier to keep your rental or beach house than your primary residence. Unfortunately, this is true and, in my opinion, should be changed. ...

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  • Forrest Gump Explains Mortgage-Backed Securities
    Forrest Gump Explains Mortgage-Backed Securities

    O. Max Gardner, III, one of (if not the) premier consumer bankruptcy lawyers in the country apparently spoke with Forrest Gump recently and got the following explanation of the mortgage mess: Mortgage ...

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  • Surprise!! Bankruptcy Filings are Up Again.
    Surprise!! Bankruptcy Filings are Up Again.

    Last year (2007), bankruptcy filings for the Eastern District of California were up almost 100% over the previous year. This year (2008), they will be up almost another 100% over last year (i.e., ...

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  • Application of Mortgage Payments
    Application of Mortgage Payments

    The First Circuit recently decided the In re Nosek appeal. The case involved a lady who suffered substantial damages because a mortgage company misapplied payments received during the bankruptcy case. ...

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