By Robert (Bob) Schuman, Owner/Managing Broker, Network Financial Group Is it 2008 again? For us in the mortgage industry, we woke up this week feeling as if during the night, we were transported back to 2008 when the mortgage industry basically collapsed. Then, Fannie Mae, Freddie Mac, and the FHA were the exceptions. As of March 25, 2020, like everything...
From the Editor – Conversion
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By The Honorable William Houston Brown (Retired)
Effect of assignment to debtor’s attorney on conversion. Under Harris v. Viegelahn, the trustee is not permitted to continue with prior practice of paying the debtor’s attorney fees when the confirmed case is converted to Chapter 7, notwithstanding a plan provision that provided otherwise. The Harris ruling, although directly addressing payment to prepetition creditors, is broad enough to encompass unpaid Chapter 13 administrative expenses. However, the court observed that Harris imposes a hardship on attorneys representing debtors in Chapter 13 and . . .
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