The Mortgage Bankers Association, which monitors and reports on foreclosure rates, reported that New Jersey surpassed Florida as the state with the highest rate of "loans in foreclosure". The report indicated that 8% of New Jersey mortgage loans were in...
Resumption of Random Audits of Chapter 7, Chapter 11, and Chapter 13 Consumer Bankruptcy Cases. Random Audits of Under the Bankruptcy Code, beginning with the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA), the Office of the United...
Since 2007, homeowners who conducted short sales and other loss mitigation alternatives on their properties were able to exempt any income associated with their mortgage company's write-off of any debt under the federal mortgage forgiveness act. However, Congress allowed the...
On January 3rd, 2013, President Obama signed The American Taxpayer Relief Act which extends the deadline of the Mortgage Debt Relief Act to December 31st, 2013. If the Mortgage Debt Relief Act had expired, any amount of cancelled debt would be...
Based on recent statistical data, bankruptcy filings fell in 2012. The article has some interesting trends about bankruptcy filings including a state-by-state analysis. Filings in New Jersey Bankruptcy Court fell less than the national average. While the...
In the continuing series in the New York Times on loan modifications and the foreclosure crisis, the reporter details the strange and disturbing links between the mortgage brokers who were involved in brokering the sub-prime mortgages which have threatened foreclosure...
An article in the New York Times published on June 29, 2009, highlights the confusion, difficulty and frustrations in attempting to modify your mortgage and avoid the loss of your home in a foreclosure. See the article at http://www.nytimes.com/2009/06/29/business/29loanmod.html?ref=us.
The New Jersey Bankruptcy Court issued the following press release regarding the New Jersey Foreclosure Mediation Program and Bankruptcy Debtors. The information may also be viewed at http://www.njb.uscourts.gov/notice/2009_02_04_foreclosure.pdf. Information for Bankruptcy Debtors and Others Concerning The New Jersey Judiciary Foreclosure Mediation...
The U.S. Senate is considering a credit card reform bill this week which is intended to protect consumers from retroactive rate hikes, which would not be regulated under new rules issued by the Federal Reserve, and other abusive, confusing, and...
Senators have defeated an amendment offered by Senator Dick Durbin (D-IL) to the Helping Families Save Their Homes Act (S. 896) by a vote of 45 to 51 which would have amended Sec. 1322(b)(2) of the United States Bankruptcy Code...
Gillman, Bruton, Capone Law Group
N/a
