Office Hours – 2013

For the year 2013, we’ve decided to publish in advance our planned office hours and closure days. Generally, our office is open Monday through Friday, from 9:00 AM to 5:00 PM. From 12:00 PM to 1:00 PM our office staff takes a lunch break, so the phones may not be answered during that time. Our office will be closed in observance of the following holidays, which mirror the schedules for State and Federal Courts: January 21, 2013 – closed for MLK Day. February 18, 2013 – closed for President’s Day. March 29, 2013 – closed for Easter Weekend. May 27, 2013 – closed for Memorial Day. July 4-5, 2013 – closed in observance of Independence Day. September 2, 2013 – closed for Labor Day. October 14, 2013 – closed for Columbus Day. November 11, 2013 – closed for Veteran’s Day. November 27, 2013 – half-day, closed at noon for Thanksgiving….

Read More

Mortgage Debt Forgiveness Survives Fiscal Cliff Settlement

In a last minute – okay, more like a “well after the last minute” deal struck by the US Congress, a key provision protecting borrowers losing their homes was extended for one more year. The Mortgage Forgiveness Debt Relief Act of 2007, which technically expired on December 31, 2012 was extended to December 31, 2013 as a part of the legislation approved yesterday to pull us back from the “Fiscal Cliff.” For those not familiar with the Act, under normal circumstance is a debt owed is forgiven by the lender, it results in a taxable event for the borrower. By way of example, if I borrow $1,000 from a lender, and I don’t pay it back AND the lender agrees to forgive that debt, I am deemed to have “forgiveness of indebtedness income” which is generally subject to being taxed. However, as will all things “tax,” there are loopholes. Bankruptcy…

Read More

873 New Laws – Happy New Year 2013!

Happy New Year, and welcome to 2013. While Congress is continuing to work this morning to avoid the fiscal cliff, California welcomed the New Year with 873 new laws that went into effect at 12:01 AM this morning. While I don’t have the energy this morning to discuss them all, I did want to briefly post some information regarding AB278 which is titled the “California Homeowner Bill of Rights.” This bill, as outlined below in the legislative counsel’s digest, imposes new requirements on Mortgage Loan Servicers and Lenders in connection with foreclosures, foreclosure alternatives and notice procedures. One provision which I believe will be very helpful is the requirement that in the course of a foreclosure, if a sale is not conducted on the date originally set forth in the Notice of Trustee’s Sale (i.e., the sale is postponed), a written notice of postponement and the next continued sale date…

Read More