Blog by crg

Non-Recourse Loans: The California Anti-Deficiency Statute and Foreclosure

Submitted by crg on Thu, 05/13/2010 - 1:33pm

For many borrowers, the choice of whether to file bankruptcy depends on a determination of whether a home-owner will be liable for debt on his home following foreclosure.

California has enacted a very strong law protecting home-owners from deficiency judgments following a foreclosure. This is called the anti-deficiency statute or non-recourse statute. It says, in sum, that borrowers who take:

1. purchase money loans
2. on an owner-occupied residence

7 Reasons Every Mortgage Modification Success should consider Chapter 13 Bankruptcy

Submitted by crg on Thu, 05/13/2010 - 12:34pm

In my office I increasingly see clients come in for consultations after having completed a mortgage modification. I wish that I saw it much more frequently.

The Truth about Bankruptcy and your Second Mortgage

Submitted by crg on Thu, 05/13/2010 - 12:24pm

One of the most exciting areas of bankruptcy law is the ability to discharge or remove a second mortgage. For years the ability to remove a second mortgage was largely irrelevant as property values rose year after year. Now the power of the bankruptcy court has become one of the most powerful consumer protection laws on the books. It is important for every home-owner to know his right to adjust his home mortgage through the bankruptcy law.

How can bankruptcy help discharge my debts?