April 2012 | Emil Fleysher, P.A.

CoreScore goes into Effect

Emil Fleysher April 29, 2012

CoreLogic implemented its new CoreScore credit scoring model at the end of March. The CoreScore consists of 2 parts. The first is a report consisting of data that may not have appeared in conventional credit reports compiled by the top three credit bureaus (Experian, Equifax, and TransUnion). The second consists of a composite score based on the data in the CoreScore Credit Report combined with traditional credit bureau data and

Dodgers Bankruptcy Plan to Include Divorce Payments

Emil Fleysher April 20, 2012

The Los Angeles Dodgers have cleared up last-minute money disputes ahead of a hearing. They did this to confirm a bankruptcy reorganization plan that provides for selling the team for $2 billion. The filing of documents took place on behalf of the Dodgers that sought to convince the judge to approve the plan. They stated that the plan would provide more than sufficient capital to ensure the long-term financial success

Auto Maker Saab in Bankruptcy

Emil Fleysher April 20, 2012

The value of bankrupt Saab Automobile’s assets covers less than a third of its debts. And, only some preferential creditors will get their money back. Saab’s balance sheet showed the company has debts of $1.9 billion and assets of around $532 million. Saab owes GM 2.2 billion kronor it paid for preferential shares. But, GM would only be entitled to that if the bankruptcy produced a surplus. Trustees said that

Fannie Mae & Freddie Mac Considering Principal Reduction Policy

Emil Fleysher April 20, 2012

Fannie Mae and Freddie Mac could save $1.7 billion if they forgave principal on some troubled mortgages. Furthermore, The Federal Housing Finance Agency may make a decision in the next few weeks; whether to change its policy barring the two taxpayer-owned companies from performing such loan modifications. In fact, The FHFA has come under pressure from the Obama administration and consumer advocates to cut principal for underwater borrowers. Moreover, the

“Fee Only” Chapter 13 Filings are Not Necessarily Made in Bad Faith

Emil Fleysher April 8, 2012

Bankruptcy courts have expressed mixed views on fee-only plans as their experience accumulates. In a recent case, the Chapter 13 debtor proposed a 36-month plan paying $100 per month to the trustee. Out of this money, $2,900 was to go to the debtor’s attorney. The bankruptcy court denied confirmation citing In re Buck, 432 B.R. 13 (Bankr. D. Mass. 2010), which held that submitting “fee-only” Chapter 13 plans happens in

Another Take on Florida’s Wild Card Exemption in Bankruptcy

Emil Fleysher April 8, 2012

In the recent case of in re Kehoe, the Chapter 7 Trustee filed an Objection to a Debtor’s Claim of Exemptions against the Debtor. The Debtor owns his home as a tenant by the entireties (TBE) with his wife. And, they used the TBE exemption to fully exempt the marital house. The Debtor did not claim a homestead exemption for the home. Instead, he applied the $4,000 wild card exemption

More Lenders Offering Plans with Debt Forgiveness

Emil Fleysher April 8, 2012

Non-government holders of delinquent mortgages are offering more payment plans with debt forgiveness. This is even as government-controlled Fannie Mae and Freddie Mac resist. Of the 116,153 mortgages modified in the fourth quarter of 2011, debt forgiveness takes 16 percent of loans. All of them held by private investors; 25 percent of loans held in bank portfolios, and in none owned by government-run companies. Fannie Mae and Freddie Mac haven’t

Florida Court of Appeal Reverses Foreclosure Ruling on Discovery

Emil Fleysher April 8, 2012

A 4th District Court of Appeal reversal of a foreclosure judgment spells a shift by the court toward friendlier decisions for homeowners. The Court of Appeal threw out a judgment granted to Deutsche Bank; finding there were discovery issues pending that the trial court did not honor. In fact, the trial judge ruled prematurely. That is because there were outstanding discovery requests based on a motion to compel that had

Fleysher Law Blog

CoreScore goes into Effect

Dodgers Bankruptcy Plan to Include Divorce Payments

Auto Maker Saab in Bankruptcy

Fannie Mae & Freddie Mac Considering Principal Reduction Policy

“Fee Only” Chapter 13 Filings are Not Necessarily Made in Bad Faith

Another Take on Florida’s Wild Card Exemption in Bankruptcy

More Lenders Offering Plans with Debt Forgiveness

Florida Court of Appeal Reverses Foreclosure Ruling on Discovery

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