Firm News
Recent Developments in Real Estate
Recently, Real Estate Law has seen some important changes, including:
The California Senate and Assembly have passed S.B. 1178, and it is now awaiting signature by the Governor. S.B. 1178 helps to clarify and extends protection from deficiency after a foreclosure. Presently, the holder of any mortgage that was in-fact used to pay the purchase price of the real estate which serves as collateral for the mortgage, is prohibited from seeking a deficiency judgment post-foreclosure. This is true whether the loan is a first, second or third mortgage. [more . . .]
As The Economy Grinds, Bankruptcy Just Got Harder . . .
Under the BAPCPA (the 2005 Amendments to the Bankruptcy Code), to file Chapter 7 bankruptcy, a debtor must pass a test. The test is in some respects very simple, and in others very complex. The very first step (which can be relatively easy) is to compare a debtor’s income to the median income for the State in which they live. These “median income numbers” are published by the Federal Government, and are adjusted annually. Come November 1, 2009, for the first time since the law was implemented, the median income for most states is going down [more . . .]
Foreclosure and Bankruptcy – What You Didn’t Know . . .
With all of the bad news these days, I thought should look at some of the more positive little-known tips and tricks if you are negotiating the difficult waters of foreclosure and/or bankruptcy. Did You Know [more . . .]