The Oregon Bankruptcy Court’s recent ruling in In Re Watt requires a mortgage holder to accept title to a home surrendered in chapter 13 bankruptcy. Prior to In Re Watt, a borrower could surrender a home in Chapter 13 bankruptcy but wait for months, if not years, on end while the mortgage lender took its time foreclosing on the property. This was a particularly cruel fate for Oregon debtors with ongoing HOA obligations, but really a hardship for just about any Oregon homeowner/Chapter 13 debtor hoping to walk away from a property and really start over.
Oregon consumers who are currently in confirmed Chapter 13 bankruptcy cases should contact their attorneys to determine whether they now have the ability to force their lenders to take back the house.
The original post is titled Oregon Chapter 13 Bankruptcy for Homeowners New and Improved , and it came from Portland Bankruptcy Attorney | Northwest Debt Relief .

Oregon Bankruptcy Lawyer
(posted 3 hours 45 min ago)

Check out the latest news from Financial Poise. Don’t miss out on our upcoming live webinars! View the full newsletter here.

(posted 17 hours 59 sec ago)

Bankruptcy Provides Instant Relief When you file chapter 7 bankruptcy, the relief is instant. An automatic stay is created which is then sent to all of your creditors notifying them that you have filed for bankruptcy protection. Most collection efforts must cease from that point forward. You will have a meeting of creditors also referred+ Read More
The post Filing Bankruptcy Now Will Lead To A Fresh Start In 2015 appeared first on David M. Siegel.

(posted 1 day 4 hours ago)

This week on The Broke and the Beautiful, Teresa Giudice will serve time in the prison that was the setting for “Orange Is the New Black,” and the Backstreet Boys settled with former boy-band mogul Lou Pearlman. Also, Girls Gone Wild made a settlement with the Hottest Girl in America 2010.

WSJ.com: Bankruptcy Beat
(posted 1 day 4 hours ago)

In Episode 7, Accredited Investor Markets Radio host Chris Cahill talks real estate investing with David Manshoory, Founder and CEO of AssetAvenue. Their discussion includes the risks and rewards of equity and debt investing,  the advantages to using a platform for investing in debt offerings, and they also share specifics on what an Accredited Investors should look for when selecting a platform.

Learn more about real estate investing by visiting www.accreditedinvestormarkets.com

Learn more about David Manshoory and AssetAvenue by visiting www.assetavenue.com/about

You can also find David here:
Twitter: @DavidMansoory
    @assetavenue

(posted 1 day 5 hours ago)

In “What Else Can a Creditors Committee Do?  Maybe Reap $1.5 Billion for Unsecured Creditors (Lender Beware),” the Editorial Staff of Commercial Bankruptcy Litigationillustrates how a creditors committee in a chapter 11 case can get large amounts of money for unsecured creditors by challenging the liens of secured creditors.  In such a dispute in the Old GM case, the amount at stake is $1.5 billion.
Read the full article here or visit www.commercialbankruptcylitigation.com to learn more.

(posted 1 day 5 hours ago)

A recap of the informed opinions (and the discussions they generated) on BankThink this week.

BankThink
(posted 1 day 6 hours ago)

In July 2014, Argentina defaulted on a $539m interest payment on its sovereign debt in the latest round of its ongoing legal dispute with bondholders.
Continue >>>

(posted 1 day 7 hours ago)

There are three major new regulations shaping the housing finance market:  QM (qualified mortgage), QRM (qualified residential mortgage) and Reg X.  QM is a safe harbor from the statutory ability-to-repay requirement that applies to all mortgages.  QRM is a safe harbor from the statutory risk retention requirement that applies to mortgage securitization.  And Reg X are the new mortgage servicing regulations.  It's important to understand how these three regulations interact and how they're going to affect the housing finance market.  (There's also new TILA/RESPA disclosure stuff, but I don't think that's particularly impactful, in part because I don't think disclosure regulation is especially effective in most real world circumstances.) 

Credit Slips
(posted 1 day 9 hours ago)
Fireworks burst over the Detroit city skyline during the annual Ford Fireworks show in downtown, Monday, June 23, 2014.
Associated Press

After a weekslong trial on the viability and fairness of Detroit’s restructuring plan, U.S. Bankruptcy Judge Steven Rhodes will hear closing arguments in the case on Monday.
A ruling could follow within several weeks, and city officials hope Detroit could be out of bankruptcy court as soon as Thanksgiving.
Most of the city’s creditors, including municipal employees and retired workers, have agreed to settle. Some individual objectors remain, arguing in part that the city’s emergency manager acted improperly to cut any benefits to pensioners.
The city’s largest holdout creditor unveiled a deal last week to stop fighting and instead take a major stake in the city’s revival.
Detroit filed for bankruptcy protection in July 2013 with an estimated $18 billion in long-term obligations.

WSJ.com: Bankruptcy Beat
(posted 1 day 9 hours ago)