Month: April 2012

CoreScore goes into Effect

Written By: Emil Fleysher | April 29, 2012 | Bankruptcy
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
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Dodgers Bankruptcy Plan to Include Divorce Payments

Written By: Emil Fleysher | April 20, 2012 | Bankruptcy
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
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Auto Maker Saab in Bankruptcy

Written By: Emil Fleysher | | Bankruptcy
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
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Fannie Mae & Freddie Mac Considering Principal Reduction Policy

Written By: Emil Fleysher | | Debt
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
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"Fee Only" Chapter 13 Filings are Not Necessarily Made in Bad Faith

Written By: Emil Fleysher | April 8, 2012 | Bankruptcy
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.
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Another Take on Florida's Wild Card Exemption in Bankruptcy

Written By: Emil Fleysher | | Bankruptcy
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
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More Lenders Offering Plans with Debt Forgiveness

Written By: Emil Fleysher | | Foreclosure
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
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Florida Court of Appeal Reverses Foreclosure Ruling on Discovery

Written By: Emil Fleysher | | Foreclosure
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
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Cape Coral
Deerfield Beach
Lake Worth
Palm Beach Gardens
Port St. Lucie
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