Tag Archives: mortgage companies

Can A Bankrupt Company/Person Sue Me?

  Hell, yes.

Just because a person or company, or even a college, has filed bankruptcy, does not mean you are off the hook if you owe them money.

Lon Morris College filed Chapter 11 bankruptcy, and expects to get as much as one million dollars by suing students for unpaid tuition.

These are not student loans, but tuition that has not been collected.

Well, as with any business, if you are giving away your product or services, you will eventually go broke.

I was surprised to learn, in the article by Ben Tinsley of the Jacksonville Daily Progress, that:

Yale University and Temple University go as far as to share the same debt collections attorney.

Yale and Temple are not close to bankruptcy.  The debtor, the one who files bankruptcy, is the one who gets the automatic stay and protection of the bankruptcy court from its creditors.

The debtor in possession in Chapter 11 bankruptcy cases, like the college, and the trustee, in Chapter 7 bankruptcy cases, has the right to sue to collect money owed to the bankrupt entity.

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3 Responses to Can A Bankrupt Company/Person Sue Me?

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Homeowner Help? Or Government Sellout?

sellout

The long awaited on again, off again, multi-state settlement between the Attorneys General of our various states and the mortgage company rapists, uh, crooks, is apparently on again. Unless this is your first trip to this blog, let me end the suspense:  the proposed settlement is: image credit: dreamstime Sorry to ruin the ending. WhatContinue Reading

Mortgage Balance Not Reaffirmed?

  Had a different question last week, from someone who did not reaffirm her mortgage in her Chapter 7 case, kept current on the  payments, but wanted to pay off the balance for less than what was owed on the mortgage balance. REAFFIRMATION Just to review, reaffirmation is the process for you to obligate yourselfContinue Reading

3 Responses to Mortgage Balance Not Reaffirmed?

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Michigan Bankruptcy Mortgage Options

MICHIGAN BANKRUPTCY MORTGAGE OPTIONS Part One You owe more on your mortgage than your house is worth, you want to leave, what are your options? You Cannot Afford The Payments If you cannot afford the payments, you will not be able to keep your house, unless you get a modification from the mortgage company. YouContinue Reading

3 Responses to Michigan Bankruptcy Mortgage Options

  1. This is good information Kurt.Our elected officials really need to open there eyes and look at the housing crisis, especially in Michigan.Thanks again

The Truth About Mortgage Company Records

Its later than you think. What the economists call the “macro” factors are bad. Leading the way?  Our friends, the banks! Mortgage companies continue to lie about their books and records. And won’t show them to the government without being forced. Some of these issues have come up in the MERS and robo-signing scandals. PhotoContinue Reading

2 Responses to The Truth About Mortgage Company Records

  1. I have tried for the last 2 years to modify my mortgaage, only to given the run around. What happened to all the money these mortgage companies were given. It seems know one is being helped. I am currently putting my house up for a short sale because I have had no help. My realtor stated that she has not seen one person get a modification and she thinks it is all a hoax.

  2. That is just crazy. It really seems like a losing battle for us regular folks just trying to get by. Thanks for explaining.

    Good luck to all,

    ep

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The MERS Decision Story

Fallout from the Michigan Court of Appeals decision tossing out two foreclosures by MERS is sweeping the state of Michigan. Had a call yesterday from someone whose closing was canceled at the last minute, because, MERS had done the foreclosure and quit claimed the property to the bank, which had agreed to sell the homeContinue Reading

One Response to The MERS Decision Story

  1. I heard on the news and read your article about the mers forclosurer ruling. My home is going to the county sheriff sale this month. My question is how do i find out it my forcloser will de delayed because of the ruling? Also i found that it to be quiet strange that my servers name is on my mortgage documents but the server tells me that I borrowed money from the investers. I dont no who the investers are and upon getting approved for the loan I contacted the credit union. I assume the credit union provided the funds for me. Since this time the credit union is closed and now coop credit union. I contacted coop and first they told me they didnt have my mortgage. After speaking to several people the manager tells me that yes coop does have the mortgage but its not in their computer its in their books. Should the credit union contacted me upon recieving my mortgage, do the server have a right to be listed as the leinholder on my mortgage even if they didnt loan me the funds, and do I have some type of claim?

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The Truth About The Foreclosure Crisis

Detroit

An essential part of the real estate bubble was mortgage securitization, the process by which mortgage loans were sold into investment trusts from which bonds were sold. It was mortgage fraud from A to Z, from the selling of mortgage backed securities trusts, before the trusts were full of mortgages. From the ratings agencies, assumingContinue Reading