California Court of Appeals, Fourth District, Second Division – Sustaining Demurrer without leave to amend for failure to state claim against MERS and Countrywide

Filed: 09/12/2011

Summary: The California Court of Appeals held: "We agree with the Gomes court [Gomes v. Countrywide Home Loans, Inc. (2011) 192 Cal.App.4th 1149 (Gomes), review denied May 18, 2011] that the statutory scheme…

 

California has passed amendments to its anti-deficiency statute. The closing of a short sale and acceptance of terms of short sale will not give rise to deficiency claims for liability that lenders may pursue. Does this mean that California borrowers are out of the woods? Hardly! A bankruptcy analysis by a Certified Bankruptcy Specialist should still be part of the agent’s due diligence in counseling the seller. Other liabilities may exist for which a Chapter 7 may be necessary. But, if property is short sold Chapter 7 relief may be out of seller’s reach as they will fail the Means Test. Avoid professional liability and make sure your sellers consult with a Certified Bankruptcy Specialist.

Debtors' Response to United States Trustee's Motion to Dismiss Appeal

Filed: 07/08/2011

Summary: Debtors' responsive pleading filed with the Ninth Circuit Court of Appeal in response to the United States Trustee's Motion to Dismiss Appeal from decision of the United States Bankruptcy Court for…

 

Memorandum of Decision

Filed: 06/13/2011

Summary: "This is a case about equality, regardless of gender or sexual orientation, for two people who filed for protection under Title 11 of the United States Bankruptcy Code."

Debtors were legally…

 

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