This afternoon (September 9), I had a chance to observe a very interesting case heard by one of the judges in the Northern District of Georgia. The issue at hand was a motion filed by a mortgage creditor to "validate" a foreclosure that had been cried out on the courthouse steps back in July.
More on Another Debtor Ripped Off by a Foreclosure Relief Scam (Part One)
Filed under Automatic stay issues, Georgia Bankruptcy, Mortgage modifications by 
Can you modify your mortgage loan to reduce your principal balance? your interest rate? other terms of your mortgage? Over the past few months, I have heard a lot about mortgage modifications but very few details have emerged and I know of no one who has actually and successfully modified his mortgage.
Filed under Consumer protection, Mortgage modifications by
In my last post, I attempted to offer a simple explanation about how the housing market in the United States got into trouble. In this post I want to discuss some of the highlights (or lowlights) of what this crash means to you.
More on Why Has the Sub-Prime Mortgage Crisis Been so Toxic to the United States Economy
Filed under General consumer bankruptcy info, Mortgage modifications by
The U.S Federal Reserve anticipates that in fiscal year 2009, the Unites States’ economy may shrink between 0.5% and 1.3%. By historical standards, this means that we are in a serious recession. This slowdown may be attributed to many factors – an increase in unemployment, a lack of consumer confidence, a lack of confidence in the investment community and an overall reduction of the amount of liquid assets in our banking system. Perhaps the biggest factor that has hurt the American economy (and the world economy as well) is what can only be called a collapse of the housing market in the United States. Many lenders have gone bankrupt, housing values have diminished and many homeowners are in trouble. Because the housing market is so big it affects every facet of the American economy and when the housing market is in trouble the entire financial foundation of the United States will be in trouble as well. How did we get here and what are the solutions?
More on A Simple Explanation of the Sub-Prime Mortgage Meltdown
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Earlier this month, I wrote a post on this blog setting out the question of whether Congress should enact legislation empowering bankruptcy judges to modify the terms of mortgages within a Chapter 13 bankruptcy.
More on Are Mortgage Modifications in Bankruptcy a Good Idea – Part Two
Filed under Chapter 13 issues, Cram downs, Mortgage modifications by
There has been a lot of chatter on bankruptcy blogs and bankruptcy lawyer forums about the possibility that Congress will amend the bankruptcy laws to give judges the power to modify mortgages. To offer some perspective, bankruptcy judges have long had the power to modify vehicle loan contracts and other secured debt claims but never mortgage debt.
More on Are Mortgage Modifications in Bankruptcy a Good Idea – Part One
Filed under Chapter 13 issues, Cram downs, Mortgage modifications by
Jonathan Ginsberg
