Foreclosure Daily News Digest

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A new treasury rule, effective May 1, 2011, will provide more protection to receipients of federal benefits from garnishment of their bank accounts. Garnishment and Federal Benefits: The Basics If a creditor gets a judgment against you, it has various tools to collect on that judgment. One tool allows the creditor to garnish (grab the money in) your bank [...]

A new treasury rule, effective May 1, 2011, will provide more protection to receipients of federal benefits from garnishment of their bank accounts. Garnishment and Federal Benefits: The Basics If a creditor gets a judgment against you, it has various tools to collect on that judgment. One tool allows the creditor to garnish (grab the money in) your bank [...]

Sometimes people want to reopen a closed bankruptcy case because they failed to invoke important procedures while their bankruptcy case was open. Fortunately it’s usually possible to reopen the bankruptcy and play catch-up. Common reasons for wanting to reopen a bankruptcy case include: failing to timely file an Official Form 23 (pre-discharge counseling certification) failing to name an [...]

New Mexico’s Attorney General will begin enforcing a new Rule which requires debt collectors doing business in New Mexico to (1) make a good faith effort to determine if collection of a debt is time-barred (meaning it is too late to sue for recovery of the debt in court) and (2) if it is time-barred, [...]

New Mexico’s Attorney General will begin enforcing a new Rule which requires debt collectors doing business in New Mexico to (1) make a good faith effort to determine if collection of a debt is time-barred (meaning it is too late to sue for recovery of the debt in court) and (2) if it is time-barred, [...]

According to RealtyTrac, foreclosures in the first three months of 2011 are trending down as compared to 2010. Foreclosures in January, Februrary, and March of 2011 are down by 27% as compared to foreclosures in the same months of 2010. Unfortunately, most experts agree that this trend is not due to a healthier economy and [...]

Scams involving purported mortgage modifications and foreclosure assistance have abounded since the California foreclosure crisis in 2009. The California Department of Real Estate recently warned consumers about the newest version of these scams. (To learn more about foreclosure, check out Nolo’s Real Estate & Rental Property area.) In this scam, a “lawyer” invites homeowners to join a [...]

A number of the people I counsel want to know how soon they can restore their credit after bankruptcy. The prerecession standard advice was two years for a credit card with decent interest and four years for a mortgage with indecent interest. But that was then. Now, because so many people have bad credit because [...]

On February 24, 2011, a same-sex couple filed a joint Chapter 13 bankruptcy petition in Los Angeles, California. Why is this big news? Bankruptcy is one of the many (thousands, actually) areas in which same-sex couples are treated differently from opposite-sex couples. Even if a same-sex couple is legally married (for example, the couple lives [...]

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