Here is a link to an article from Fox news that talks about the reduction of BK filings in 2011. Does this signal an upturn in the economy? In my opinion, no. Only time will tell! … [Read more...]
Oct
01
Motion for Relief from Automatic Stay is Denied in Central District California
IT IS POSSIBLE TO CHALLENGE THE ALLEGED CREDITORS MOTION FOR RELIEF FROM THE AUTOMATIC STAY IN BANKRUPTCY COURT IN CALIFORNIA Here is a copy of an email sent to us by the California Central District Bankruptcy Court after we defeated Chase in their motion to lift the automatic stay. Motion for Relief from Automatic Stay Denied Chase Based on the strength of the in re Veal case, and other arguments as to standing and real party in interest, the Court determined Chase could not present a … [Read more...]
Oct
01
Memorandum of Points and Authorities in opposition of motion to lift the automatic stay in bankruptcy court
ATTORNEY PLEADING TO FIGHT THE LIFTING OF THE BANKRUPTCY AUTOMATIC STAY ON STANDING AND REAL PARTY IN INTEREST GROUNDS Here is one trick lenders and loan servicers like to do in bankruptcy court. They file a proof of claim, or motion to lift the automatic stay and as proof that they are the "real party in interest" and have "standing" to make their filing, they present a copy of the note signed by the borrower in 1999. The note is not endorsed and it is made payable to some lender that is … [Read more...]
Jul
03
Hot Dog – Los Angeles Dodgers seek to reorganize!
Another bankruptcy filing by a major Corporation, this time the Los Angeles Dodgers (my favorite team as a kid). Yes, it seems somewhere during the 7th inning stretch, the Dodgers need to file for Chapter 11 Bankruptcy protection in Delaware. Here is a link to the story about the Dodgers filing for Bankruptcy on the Wall Street Journal website. For consumer information about foreclosure and bankruptcy visit us at ForeclosureWarrior.com … [Read more...]
Jul
03
Saab seeks bankruptcy protection – GM (the parent company) asks for more bailout money. The beat goes on.
SAAB seeks bankruptcy protection - Seems many different types of companies are seeking bankruptcy protection. It is a sign of the time. More information about foreclosure and bankruptcy issues can be found on our newly laumched ForeclosureWarrior website where he have video learning modules that can be reviewed upon becoming a member of the site. … [Read more...]
May
18
Monk is not Bunk – Failure to Defend Proof of Claim means no secured lien in Chapter 13
Monk Packs a Punch! There was an interesting case out of Oregon Bankruptcy Court. The case is Monk v. LSI Title Company of Oregon (In re Monk), 2011 WL 212381 (Bankr. D. Ore. Jan. 21, 2011). In this case a Debtor filed Chapter 13 bankruptcy. The alleged mortgage creditor "PCFS Mortgage Company" filed a proof of claim. The Chapter 13 Trustee was not satisfied that PCFS had a secured lien or perfected interest and therefore challenged the Proof of Claim. PCFS failed to respond with … [Read more...]
May
03
Realty Executives, Phoenix Real Estate Firm Files Chapter 11 Bankruptcy
Yes, as we have talked about, the bad economy is hitting every business and now it is Realty Executives in Phoenix filing for Chapter 11 bankruptcy Protection. You can read about the Realty Executives Chapter 11 Bk Filing here. … [Read more...]
Mar
28
What is a re-affirmation agreement in a Chapter 7 bankruptcy?
Many people file for chapter 7 bankruptcy protection. One thing that happens when you are in bankruptcy is the creditors may seek to get you to "re-affirm" your debts with them. For example, your car lender or credit card company may want to see if you are interested in "re-affirming" your debt. You should realize, when you file for chapter 7 bankruptcy, you get to discharge your personal liability on most of your debt (for example, your credit cards, and your car). This means, your … [Read more...]
Mar
28
What happens if you don’t qualify for either Chapter 7 or Chapter 13 bankruptcy?
Check before you file bankruptcy when you don't qualify! After the amendments to the bankruptcy code in 2005 ("BAPCA"), it became tougher for some people to qualify to file for bankruptcy protection. The main reason why is there is a means test you have to be able to pass to qualify for chapter 7 (meaning you have to make less money than your state median income) and if not, you cannot file for a Chapter 7 bankruptcy absent compelling or special circumstances that overcome the … [Read more...]
Mar
28
The Bad economy hits everyone – Borders Books files Chapter 11 Bankruptcy and seeks to close stores
Citing too much competition from online retailers, Broders books is the latest to file for Chapter 11 Bankruptcy protection. Why aren't they too big to fail? Where is their bailout? Guess only having about 600 retail shops is not enough to get congress off their pens. You can read about the Borders Chapter 11 Filing here. Just another sign of the times. … [Read more...]
Mar
28
What is “Ride-through” – Do you have to re-affirm your home mortgage in a Chapter 7 Bankruptcy?
What is the Ride-Through in Chapter 7 Bankruptcy? When you file chapter 7 bankruptcy, some creditors may seek to "re-affirm" your debt (meaning, although you might be able to wipe the debt out in Bankruptcy, you have the option to "re-affirm" your debt and move on as if the bankruptcy did not occur). For example, someone might want to re-affirm a credit card so they can keep the credit card. Another example would be to re-affirm with your automobile creditor (ex. Ford Credit) so you … [Read more...]
Mar
24
Can you lien strip an Arizona investment property in Chapter 13? Some things to think about.
Are you trying to figure out what to do with your Arizona investment property? Here is a situation that came up just the other day. A potential client has an investment property in Arizona worth about 80k. There was a first mortgage of 100k and a second mortgage of 25k. The second mortgage was therefore wholly unsecured, while the first mortgage was partially under-secured. The property owner could not afford the investment property with the second mortgage (but could afford it if the … [Read more...]
Mar
24
Zimmer case from 9th Circuit Court of Appeals says lien stripping of wholly unsecured junior mortgages is acceptable
Zimmer puts a 'Simmer' on Nobelman Case! We have previously talked about the Nobelman Case (liens that are even partially secured cannot be stripped in a chapter 13 bankruptcy case according to the United States Supreme Court). But some thought this made lien stripping of liens that encumber a debtor's personal residence not possible as it would violate the ant-modification provision of 1322(b)(2). Zimmer came along some ten years after Nobelman, and clarifies that according to the … [Read more...]
Mar
24
Nobelman v. American Savings Bank – The United States Supreme Court says NO lien stripping if the first mortgage is partially secured!
The United States Supreme Court laid down the law of stripping down first mortgages that are not fully secured (i.e. under-secured)- Nobelman v. American Savings Bank, 508 U.S. 324 (1993) Here is a link to the Nobelman oral arguments on the United States Supreme Court website (hear the attorneys who argued the case). The case written opinion can be read here. BASIC FACTS: A homeowner had a first mortgage for 71k. The value of the property was 23k. So the property was under-secured … [Read more...]
Mar
23
California Chapter 20 bankruptcy case allows lien stripping………In re Hill 440 B.R. 176 (2010)
The following is for the exclusive use of attorneys only. Our firm does not make any representations as to the accuracy of the legal analysis, opinions contained herein, or as to the current state/status of any case cited herein. This is general legal information only. Copyright 2011 The Law Offices of Steven C. Vondran, P.C. - All Rights Reserved. Steve Vondran practices law in California and Arizona where he is licensed to practice. He is a former real estate broker in both states, … [Read more...]
Mar
23
United States Supreme Court says NO LIEN STRIPPING IN A CHAPTER 7 BANKRUPTCY – DEWSNUP nips the issue in the bud!
The following is for the exclusive use of attorneys only. Our firm does not make any representations as to the accuracy of the legal analysis, opinions contained herein, or as to the current state/status of any case cited herein. This is general legal information only. Copyright 2011 The Law Offices of Steven C. Vondran, P.C. - All Rights Reserved. Steve Vondran practices law in California and Arizona where he is licensed to practice. He is a former real estate broker in both states, … [Read more...]
Mar
14
Arizona Biltmore Files for Bankruptcy Protection
It seems no one, and no company, is immune from needing to file for bankruptcy protection. The Arizona Biltmore, a wonderfully beautiful resort in the heart of Arizona, has filed for Chapter 11 bankruptcy protection. You can read about the Chapter 11 filing here. … [Read more...]
Mar
12
California Appellate Court tells U.S. Bank its promises to a borrower “we will work with you” on a loan modification may be enforceable
TALES OF LIES DURING THE BANKRUPTCY PROCESS Yet another case regarding a lying Bank (people, please, please, please do not believe a word your bank or loan servicer tells you, they want to make money and they will lie to you). Who should be surprised anymore? Anyway, in the case of Aceves v. U.S. Bank as Ttrustee, etc., a borrower was in a Chapter 7 bankruptcy and was contemplating converting her bankruptcy to a Chapter 13 to try to save her house from foreclosure. AS WE HAVE … [Read more...]
Mar
05
Former Major League Baseball Player Lenny Dykstra, files for Chapter 11 bankruptcy protection, later converted to Chapter 7
FORMER MAJOR LEAGUE BASEBALL PLAYER LENNY DYKSTRA TAKES A SWING AT WAMU AND CHASE - THEN DISMISSES CASE. Former Major league baseball player Lenny Dykstra has filed for Chapter 11 Bankruptcy. In the meantime, he has also claimed that WAMU has lied to him and he has threatened a lawsuit against JP Morgan Chase (successor to WAMU). You can see Lenny Dykstra's video interview here discussion his predatory lending claims against WAMU and Chase. I have reviewed some of the online … [Read more...]
Mar
01
Foreclosure College
Attorney Steve Vondran is helping Arizona and California Property Owners fight the War against Foreclosure for the past several years. With offices in Newport Beach, Beverly Hills, Fresno, San Francisco, and Phoenix Arizona, The Law Offices of Steven C. Vondran is handling select cases in real estate, foreclosure, and bankruptcy litigation. Contact us at (877) 276-5084 to discuss your options. For more information on Foreclosure College, visit http://www.ForeclosureCollege.net. … [Read more...]
Mar
01
Bankruptcy law offers the kind of “STRIPPING” (lien stripping) that even your spouse can agree with!
CHAPTER 13 BANKRUPTCIES & LIEN STRIPPING How Can Bankruptcy Get Rid of a Second Mortgage? The recent “Mortgage Meltdown” and “Foreclosure Crisis” has turned the real estate industry upside down. As a result, property values have dropped as much as 40 – 50% and thousands of homeowners are now upside-down or “under water” on their home mortgage and are looking for a way out. One solution to the problem for many of these homeowners that is not explored often enough … [Read more...]
Mar
01
What is the Bankruptcy Litigation Model?
The Bankruptcy Litigation Model is taught by Mr. Max Gardner, a North Carolina Bankruptcy Lawyer who has filed a slew of adversary proceedings against the major loan servicers over the past 20 years. He has developed a litigation model that goes beyond the "produce the note" foreclosure defense strategy (that has been shot down in civil courts that refuse to grant injunctions on this ground), yet he uses the same concept (i.e. that the lenders cannot prove they own your loan in the loan pool) … [Read more...]
Sep
30
Yes, you can rescind your loan in bankruptcy court under TILA (truth in lending) and here are some things to consider.
The following is general legal information only and not intended as legal advice or a substitute for obtaining legal advice. For specific answers to your questions please consult a real estate attorney. Steve Vondran, Esq., is a real estate attorney licensed to practice law in California and Arizona. He can be reached atsteve@vondranlaw.com or by phone at (877) 276-5084. There is no representation that this article is 100% accurate or up-to-date as the law is constantly evolving. [stream … [Read more...]
Aug
22
Need a Fresh Start?
THE GOAL OF BANKRUPTCY IS TO PROVIDE DEBTORS WITH A FRESH START AND TO ENSURE THAT LEGITIMATE CREDITORS GET PAID ACCORDING TO THE LAW. … [Read more...]
Aug
22
The War on Foreclosure
THE WAR ON FORECLOSURE IS WAGING. LENDERS, PRETENDER LENDERS, LOAN SERVICERS AND OTHER COMPANIES ARE MAKING TO TOUGH FOR BORROWERS TO OBTAIN MEANINGFUL LOAN MODIFICATIONS AND TO OBTAIN EVEN SHORT SALES. IF YOU NEED A FORECLOSURE LAWYER ON YOUR SIDE CALL US AT (877) 276-5084. … [Read more...]
Aug
09
Loan Servicer Must Have Valid Credentials to Lift Stay in BK
In Re Barry Weisband, 427 B.R. Chapter 13 (Dist. Ariz. 2010). Case No. 4:09-bk-05175-EWH. The following is general legal information only, and just my interpretation of the Weisband case. Other interpretations may be possible. In addition, law often changes, please check to make sure this is good and valid case law at the time if reading. Steve Vondran is a Phoenix Foreclosure and Bankruptcy Lawyer and also serves Clients in California where he is also licensed to practice law. He … [Read more...]
Aug
08
What Does Your Lender Think About Your Rights?
What lawyers who represent lenders and loan servicers really think about your attempt to fight to save your home from foreclosure. Here is a recent email exchange I had with one of the large lender/loan servicers in regard to asserting my Client’s Truth in Lending rescission rights. This email allows you to get a little flavor of what the big bad bailed out banks think about helping other people who need a bailout. HERE WAS HIS EMAIL QUESTION TO ME: It is a mystery to me why … [Read more...]
Aug
08
A few good Arizona Bankruptcy Links to Know…….
When you are considering filing for bankruptcy in the Greater Phoenix Arizona region (Phoenix, Scottsdale, Tempe, Mesa, etc.), you will likely be filing your case in the United States Bankruptcy Court for the District of Arizona. The address for the United States Bankruptcy Court for the District of Arizona is 230 N. First Ave, Suite 101, Phoenix, AZ 85003. The general telephone numbers are 602-682-4000 / 800-556-9230. To find your bankruptcy filing office in Arizona use this … [Read more...]
Aug
08
Before filing for Bankruptcy, have you considered the short sale option?
We are getting more and more calls from people who have decided to give up on the hopes of principal loan balance reduction (we have always told people principal loan balance reductions are like a bigfoot sighting) and instead seek to short sell their property letting the bank deal with the property, especially where the stubborn bank (that got their bailout) refuses to help the homeowner save their home by providing a reasonable and meaningful loan modification. Now, in the context of shot … [Read more...]
Aug
08
After you file bankruptcy you have a creditors hearing…..what exactly happens at a 341 creditors hearing in bankruptcy court?
Attending a 341 Creditor's Meeting – What is it? What to Expect Whether it is Chapter 7 or Chapter 13, everybody must go to a 341 meeting. Section 341 of the Bankruptcy requires a meeting with creditors. It is a very brief appearance. Your bankruptcy attorney will be there, you will be there (the debtor) and the Trustee will also be there. Creditors are permitted to attend and question various things, but they will rarely show up and, in fact, almost never. Showing up as a creditor … [Read more...]
Aug
08
Basic Overview of the Arizona Bankruptcy Process in a Chapter 7 from Phoenix Bankruptcy Lawyer
The following is a general overview of the process for filing bankruptcy in the State of Arizona. Additional steps may be required depending upon the nature of your case. Please consult an Arizona bankrupsy attorney. (1) Meet with your Attorney to discuss your case. Basically an Arizona bankruptcy lawyer will want to review all of your finances, your debts, your income, and see if you qualify for filing a chapter 7 Bankruptcy in Arizona. This meeting will also explore other options … [Read more...]
Aug
03
In re Hwang – who is the real party in interest that can lift the automatic stay in Bankruptcy Court? One California case sheds light!
The foregoing is just my personal interpretation/opinion of the case and is not intended to be construed as legal advice or a substitute for legal advice. For specific questions consult a foreclosure and/or bankruptcy lawyer. Attorney Steve Vondran is licensed to practice law in California and Arizona. He is also a real estate broker in each state, and is listed on Neil Garfield’s Living Lies Websites under “lawyers who get it.” Jurisdictions can differ on their application and … [Read more...]
Aug
03
In re Walker – California Court (Eastern District Bankruptcy Court) confirming what we have been saying all along – MERS HAS NO INTEREST TO CONVEY TO ANY OTHER LENDER, in this case, CitiBank. Where is the note?
The following is general legal information only, and not a substitute for legal advice. If you have specific foreclosure and bankruptcy questions, please seek out a qualified foreclosure attorney or bankruptcy lawyer in your area. Steven C. Vondran, Esq., is licensed to practice law in California and Arizona. He can be reached at (866) 70-DEBTS or (866) 703-3287. WITHOUT THE NOTE – AREN'T THE "LENDERS" TRYING TO GET YOUR HOUSE FOR FREE! Introduction: If someone owed … [Read more...]
Aug
02
Phoenix Foreclosure Lawyer launches UlitmateBK.com Bankruptcy Resource Supersite!
The Law Offices of Steven C. Vondran has recently launched UltimateBK.com - a web resource that is designed to help California and Arizona homeowners decipher some of the issues involved in various aspects of Bankruptcy cases, from Chapter 7, 11 and 13, to other issue that are involved in the bankruptcy process. Steven C. Vondran, Esq., the attorney who has launched the online general bankruptcy information site has stated "I have been looking for general bankruptcy information on the web, and … [Read more...]
Jul
26
Welcome to UltimateBK.com – Everything you wanted to know about Bankruptcy as it relates to California and Arizona Bankruptcy Law!
This bankruptcy website is brought to you by the Law Offices of Steven C. Vondran, P.C., licensed to practice law in Arizona and California. Two states that have been hit hard by the subprime mortgage fiasco and foreclosure crisis. THE LAW OFFICES OF STEVEN C. VONDRAN IS A DEBT RELIEF AGENCY AND WE HELP PEOPLE FILE FOR BANKRUPTCY RELIEF UNDER THE BANKRUPTCY CODE. … [Read more...]
