Welcome to the California Bar, Sergio Garcia. Brought to this country as a teen by his father, Garcia is still waiting after 10 years for his green card. Meanwhile, he graduated from university and law school, and passed California’s notoriously difficult bar exam. But it was unclear whether an undocumented person was eligible for […]
Will Social Security Be Enough To Retire To Surf City?
We live in the Golden State. Retirement is supposed to be the Golden Years. Do you have enough gold to make it happen? It takes more than twice the typical Social Security check to meet just basic living expenses for a single elder in Santa Cruz County. Yup, the median Social Security check is $12,500 […]
Three Giant Banks Fail To Keep Settlement Promises
Three of the five big banks who settled charges of mortgage lending abuse have failed to live up to their settlement commitments. Who’s surprised that Bank of America, JPMorgan Chase and Citigroup were each found wanting by the watchdog appointed to monitor their compliance? Monitor Joseph Smith reported that these banks flunked 7 of the […]
Easy Ways To Avoid HOA Fees After Bankruptcy
After a bankruptcy discharge, your ongoing liability to your home owners association lives on. It’s the debt that won’t die. Bankruptcy discharge and HOA dues The bankruptcy discharge wipes out your personal exposure to unpaid, unsecured HOA dues owing when you filed your bankruptcy. If the HOA had a perfected lien, the lien for […]
What’s To Fear About Bankruptcy
Fear of filing bankruptcy keeps countless people mired in debt. Are you one of them? On Halloween, we indulge in mock horror and seek out the thrill that comes with a little fear. When it comes to getting relief from bills you can’t pay in bankruptcy, the fear isn’t such fun. It stands in the […]
Lost Homes, Cut Off Creditors & Whack A Mole
Those who lost homes in the Great Recession may not be home free yet. Two kinds of creditors have claims that can be expected to pop up like figures in Whack a Mole: home equity lenders whose liens were cut off or released in foreclosure or short sale unpaid homeowners associations Let’s look at the […]
Borrowers Beat Wells Fargo In Trial Modification Case
The mortgage modification process has long felt like a match between David and Goliath. Homeowners have visions of negotiating with their lenders only to find that it’s a take-it-or-leave it proposition. All of the cards, and all of the choices, seemed to lie with the lender. The 9th Circuit Court of Appeals just evened the […]
Does Foreclosure Forever Keep Me From Homeownership
If I lose this house, will I ever be able to buy a house again? That, in a nutshell, is the central worry of Bay Area homeowners who face foreclosure or short sale of their homes. That worry drives lots of homeowners to cling irrationally to a too-expensive house. Fall out of home ownership and […]
The Living Trust: Can You Trust It To Protect You?
Today’s post comes from Los Angeles area bankruptcy lawyer Mark Markus. The Revocable Living Trust. Everyone’s got one, but few can tell you what it does for them. And those who can tell you, often have it wrong. People create these trusts, stick their home, bank accounts, and other assets in them and move on. […]
Debt Buyer Gets Less Than It Bargained For
No way, said the court. A debt buyer who sued a foreclosed borrower, not for money owed, but for fraud in obtaining the loan, was slapped down by a California appeals court. Because the loan it bought was used to buy a home, California’s anti deficiency statute prevented the lender or the debt buyer from […]
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