Foreclosure Looms But The Bank’s Numbers Don’t Add Up

By Cathy Moran, Moran Law Group, Mountain View, CA

The bank wants to foreclose on my client’s home.

They claim he’s months behind.

Only the numbers in their papers don’t add up.

The mortgage balance is one thing here, and another thing there.
They file a declaration under penalty of perjury saying they have the note, followed within hours with a declaration saying they’ve lost the note.
The loan docs they file in support of their claim . . .

It looks like you are not signed in or registered! This content is only available to members.

Or Sign In Below:

Username or Email

Password

Remember me

Lost your password?

No Author Biography has been linked to this Article.

The Hunt for Deductible Interest – Money Too Often Left on the Table

February 16, 2020

By Cathy Moran, Esq. (Redwood City, CA) One of the mysteries of Chapter 13 is why mortgage lenders don’t send an IRS 1098 for mortgage payments made through a Chapter 13 plan. And without that reminder piece of paper, our clients don’t realize that much of what the trustee pays to mortgage creditors is deductible interest. Miss that deduction and...

Members

For You, What Is the Best Part About Retirement

The NACTT Emeritus Trustees

March 3, 2024

We were curious about what our NACTT Emeritus Trustees have been doing in retirement. How have they been spending their time since making the decision to retire and moving on from the daily challenges as a Chapter 13 Trustee. Here are their replies to our inquiry:

Meet a New Trustee

The Academy

October 15, 2023

(Yep, there are lots of them right now!!) Jennifer K. Cruseturner currently serves as a Chapter 13 Standing Trustee in the Western District of Tennessee, Western Division. After an extended retirement process for George Stevenson (he never could do anything in ‘normal’ fashion!), Jennifer was appointed as Stevenson’s successor on May 1, 2023. Jennifer graduated from Newcomb College of...

From the Editor – Claims

October 20, 2019

By The Honorable William Houston Brown (Retired) Claim allowed after reopening of no-asset case. The Chapter 7 case filed as no-asset was reopened after discovery of assets for distribution, and debtors objected to a claim on basis of statute of limitations. Affirming, the Bankruptcy Appellate Panel held that the time to commence action on the claim had been tolled under...

Members

Keep Calm and Carry On – Observations Regarding CBRA

Henry E. Hildebrand, III

October 9, 2022

First, breathe deep and try to relax. The Antitrust, Commercial and Administrative House Subcommittee of the House Judiciary Committee, with minimal notice, set an oversight hearing for September 29, 2022. The subcommittee is charged to deal with matters relating to bankruptcy. The subject of the hearing was to be the “Oversight of the Bankruptcy Code, Part 2: Ensuring a Fresh...

New Payment Option Available to Taxpayers in Private Debt Collection Program

October 13, 2019

IRS officials announced on 10/8/19 that a new payment option has been added to the private debt collection program to make it easier for those who owe to pay their tax debts. Taxpayers now can choose the convenient option of a preauthorized direct debit to make one payment or a series of payments toward their federal tax debt. With direct...

Members

Arbitration in Bankruptcy: Reading Opinions & Tea Leaves in Recent Supreme Court & Lower Court Actions

January 20, 2019

By Lawrence R. Ahern III, Brown & Ahern (Nashville, TN) PART I: Statutes, Rules & Supreme Court (In)actions Introduction Click here for Part II Click here for Part III Click here for Part IV What is the effect of an arbitration clause in bankruptcy? When . . . It looks like you are not signed in or registered! This content...

Members

Diaz: Is it Really a Tax Refund?

December 20, 2020

By Cathy Moran, Esq., Moran Law Group (Redwood City, CA) On its face, Diaz (Diaz v. Viegelahn, No. 19-50982 (5th Cir. Aug. 26, 2020)) is a pretty straightforward decision that struck down a local form plan as violating a below-median income debtor's right to use her tax refund to finance necessary expenses for maintenance and support. On a deeper level,...

Members

Critical Case Comment – But It’s a GOLF CART!

Henry E. Hildebrand, III

November 20, 2022

A golf cart is a motor vehicle and may be exempted by a Chapter 7 debtor under state law. (Loyd) In re Smith, 2022 WL 3023209 (Bankr. W.D. Okla. July 28, 2022) Case Summary Bobby Smith filed a Chapter 7 petition and listed his golf cart as an exempt asset under Oklahoma law because it was a “motor vehicle.” The...

Members

Bankruptcy Courts Grapple with the “COVID-19 Discharge” – Appendix B

April 18, 2021

Bankruptcy Courts Grapple with the “COVID-19 Discharge” APPENDIX B Side-by-Side Comparison of 11 U.S.C. § 1328(b)-(i) and 11 U.S.C. § 1141(d)(5)(B)-(C) 11 U.S.C. § 1328(b)-(i) Discharge 11 U.S.C. § 1141(d)(5)(B)-(C) Effect of Confirmation (b) Subject to subsection (d), at any time after the confirmation of the plan and after notice and a hearing, the court may grant a discharge ....

Members