2011 WL 1528470 (9th Cir. B.A.P. March 22, 2011)
Benefits from the Railroad Retirement Act are included in the calculation of Current Monthly Income but must be excluded from the determination of Projected Disposable Income because of an "anti-anticipation" clause.
Monday, May 23, 2011
Chapter 7 Fee Waiver Provisions
As of May 10, 2011, the Poverty Guidelines for waiver of filing fees in a Chapter 7 was amended
http://considerchapter13.org/2011/05/22/judicial-conference-of-the-united-states-interim-procedures-regarding-the-chapter-7-fee-waiver-provisions-of-the-bankruptcy-abuse-prevention-and-consumer-protection-act-of-2005/
chart
http://www.uscourts.gov/uscourts/FederalCourts/BankruptcyResources/povertyguidelines2011.pdf
http://considerchapter13.org/2011/05/22/judicial-conference-of-the-united-states-interim-procedures-regarding-the-chapter-7-fee-waiver-provisions-of-the-bankruptcy-abuse-prevention-and-consumer-protection-act-of-2005/
chart
http://www.uscourts.gov/uscourts/FederalCourts/BankruptcyResources/povertyguidelines2011.pdf
QWR -- 12 U.S.C. 2605(e) -Nice outline
The loan servicer must, either acknowledge receipt or take the action requested, in the QWR within 20 business days.
http://lawprofessors.typepad.com/bankruptcyprof_blog/2011/05/qualified-written-requests-from-my-new-law-clerk.html
http://lawprofessors.typepad.com/bankruptcyprof_blog/2011/05/qualified-written-requests-from-my-new-law-clerk.html
LA Real Estate Mogul Convicted Of $21m Fraud
"A bankrupt Los Angeles real estate developer has been convicted of stealing some $21 million through a tax shelter scheme. Ezri Namvar was found guilty Thursday of four counts of wire fraud along with a second defendant, 63-year-old Hamid Tabatabai. They could face up to 80 years in federal prison. “
http://www.kesq.com/news/27963843/detail.html
http://www.kesq.com/news/27963843/detail.html
Taking the Husband's Last Name Yes or No ?
http://thecareerist.typepad.com/thecareerist/2011/05/change-your-last-name.html
The trend I'm seeing in my late twenties/early thirty-something friends is to change your name personally but not professionally.
http://blogs.wsj.com/juggle/2011/05/08/the-name-change-dilemma/
The trend I'm seeing in my late twenties/early thirty-something friends is to change your name personally but not professionally.
http://blogs.wsj.com/juggle/2011/05/08/the-name-change-dilemma/
Chip Parker is Now Attacking Bankruptcy Trustees
http://www.bankruptcylawnetwork.com/florida-chapter-7-bankruptcy-trustees-tactics-rebuked-by-courts/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+BankruptcyLawNetwork+%28Bankruptcy+Law+Network%29
The bankruptcy trustee has every right to demand rent or vacation of the house if the homestead exemption was not applied, despite what Chip thinks.
The Supreme Court of Florida stated last month its decision in Osborne v. Dumoulin, — So. 3d –, 2011 WL 320986 (Fla. 2011). In the Osbourne decision, Chief Justice Canady explains that a bk debtor need not do anything affirmative to not claim or receive the benefit of the homestead exemption. A homeowner can choose the $4,000 wildcard exemption if it provides a greater protection than the homestead exemption would. Actual abandonment of the home is not necessary. HOWEVER, the Court states, “When the debtor in bankruptcy does not claim the homestead exemption, the debtor effectively surrenders the homestead to the trustee for administration.” The trustee can sell the home whether occupied or not.
Some trustee have told me that they intend to offer to sell a quitclaim deed to the property to the debtor’s mortgage holder. If they can also evict the Debtor’s this will be more attractive to the creditor’s.
http://www.floridasupremecourt.org/decisions/2011/sc09-751.pdf
In the Iuliano case, the Trustee argued - a debtor who does do not claim his homestead as exempt in his bankruptcy petition, but refuses delivering exclusive possession to the Trustee for administration, is impeding the Trustee’s administration of the property.
Federal District Judge Moody stated:
11 U.S.C. § 542(a) requires a debtor to deliver to a trustee the property of the estate, “unless such property is of inconsequential value or benefit to the estate.” Where the estate has no equity in an asset, so that unsecured creditors are unlikely to benefit from a sale of the property, it is generally recognized that abandonment is the appropriate method of dealing with the asset, not liquidation. [Cite omitted.] Where there is no equity, it makes no sense for a Bankruptcy Court to order the surrender of possession of property to the Trustee.
http://www.bankruptcylawnetwork.com/wp-content/uploads/2011/05/Iuliano-v.-Brook1.pdf
The trustee will still be able to evict the Debtors once he has a buyer for the property.
The bankruptcy trustee has every right to demand rent or vacation of the house if the homestead exemption was not applied, despite what Chip thinks.
The Supreme Court of Florida stated last month its decision in Osborne v. Dumoulin, — So. 3d –, 2011 WL 320986 (Fla. 2011). In the Osbourne decision, Chief Justice Canady explains that a bk debtor need not do anything affirmative to not claim or receive the benefit of the homestead exemption. A homeowner can choose the $4,000 wildcard exemption if it provides a greater protection than the homestead exemption would. Actual abandonment of the home is not necessary. HOWEVER, the Court states, “When the debtor in bankruptcy does not claim the homestead exemption, the debtor effectively surrenders the homestead to the trustee for administration.” The trustee can sell the home whether occupied or not.
Some trustee have told me that they intend to offer to sell a quitclaim deed to the property to the debtor’s mortgage holder. If they can also evict the Debtor’s this will be more attractive to the creditor’s.
http://www.floridasupremecourt.org/decisions/2011/sc09-751.pdf
In the Iuliano case, the Trustee argued - a debtor who does do not claim his homestead as exempt in his bankruptcy petition, but refuses delivering exclusive possession to the Trustee for administration, is impeding the Trustee’s administration of the property.
Federal District Judge Moody stated:
11 U.S.C. § 542(a) requires a debtor to deliver to a trustee the property of the estate, “unless such property is of inconsequential value or benefit to the estate.” Where the estate has no equity in an asset, so that unsecured creditors are unlikely to benefit from a sale of the property, it is generally recognized that abandonment is the appropriate method of dealing with the asset, not liquidation. [Cite omitted.] Where there is no equity, it makes no sense for a Bankruptcy Court to order the surrender of possession of property to the Trustee.
http://www.bankruptcylawnetwork.com/wp-content/uploads/2011/05/Iuliano-v.-Brook1.pdf
The trustee will still be able to evict the Debtors once he has a buyer for the property.
Friday, May 20, 2011
Foreclosure Stats
Five states account for over half of the loans in foreclosure in the country: Florida (24%), California (11%), Illinois (6%), New York (5%), and New Jersey (5%).
ABI
My favorite membership is my ABI best value for your money. I love the Collier Bankruptcy
Updates and Volo Case Law Updates.
Updates and Volo Case Law Updates.
Thursday, May 19, 2011
New Technology
GID manufactures Silent Cube, a long-term data archiving product with redundant hard disk storage. This expandable little box, which is not much bigger than a bagel toaster, houses 12 SATA hard disks that preserves WORM (write once, read many) data in a manner that can persist if up to four drives fail. The Cube's controller writes the data using the same technology that NASA uses for deep-space communications. Silent Cube is just that too: silent. It uses 7,200 RPM SATA drives, which do not require large cooling fans, and is quiet enough to sit on your desktop. The Cube uses low energy, can be accessed using SMB/CIFS (supports Active Directory) and NFS, and scales from 1 terabyte to a petabyte.
Avantstar manufacture of Quick View Plus 11 file viewing software, came to LTWC with support for Microsoft Windows 7 (64-bit) operating system. The 64-bit support extends to Internet Explorer and Outlook 2010 where users will be able to access Quick View in the context of Windows Explorer, IE, and Outlook.
Avantstar manufacture of Quick View Plus 11 file viewing software, came to LTWC with support for Microsoft Windows 7 (64-bit) operating system. The 64-bit support extends to Internet Explorer and Outlook 2010 where users will be able to access Quick View in the context of Windows Explorer, IE, and Outlook.
Chip Parker and Matthew Weidner Under Bar Investigation
http://www.dailybusinessreview.com/PubArticleDBR.jsp?id=1202494362690&hbxlogin=1
The Bar has confirmed it is investigating are Stern, Watson, Marc Ben-Ezra, Barry Fishman, Robert Kahane and Gerald Shapiro. The Daily Business Review also learned defense lawyers Parker and Weidner were among those under investigation.
Parker learned he was under scrutiny in a letter from Bar counsel Shanell Schuyler last Dec. 3. The letter, obtained by the Review, includes a link to Parker's CNN interview and advises him to explain his on-camera statements in writing by Dec. 20 in light of The Bar's Rule of Professional Conduct 4-8.2 prohibiting lawyers from making false or reckless comments about court personnel.
Parker said he hasn't been told who filed the complaint due to confidentiality rules, but he heard it was an offended judge. He reached out to constitutional lawyer Talbot "Sandy" D'Alemberte, a former president of the American Bar Association and Florida State University, whom he had met at a recent dinner honoring Parker. D'Alemberte intervened at The Bar, and the case was dropped Jan. 13, 2011.
D'Alemberte also is helping Weidner at the request of the Florida Press Association and the First Amendment Foundation, which were contacted by Weidner. He declined comment on his pending investigation. But D'Alemberte said he believes the case also will be dropped.
Of 90,000 lawyers in Florida, 8,100 disciplinary files were opened by The Florida Bar, and 155 lawyers were disbarred last year.
I like Matt, but he travels to Court with a news reporter and he has clients which break in and move back in to houses after the property has gone to sale - (break ins are not under the advice of counsel - Matt Weidner). Those things are just looking for trouble - I am actually suprised the Bar is not looking into those things. A CA attorney was disbarred for advising clients to break into houses and retake possession.
The Bar has confirmed it is investigating are Stern, Watson, Marc Ben-Ezra, Barry Fishman, Robert Kahane and Gerald Shapiro. The Daily Business Review also learned defense lawyers Parker and Weidner were among those under investigation.
Parker learned he was under scrutiny in a letter from Bar counsel Shanell Schuyler last Dec. 3. The letter, obtained by the Review, includes a link to Parker's CNN interview and advises him to explain his on-camera statements in writing by Dec. 20 in light of The Bar's Rule of Professional Conduct 4-8.2 prohibiting lawyers from making false or reckless comments about court personnel.
Parker said he hasn't been told who filed the complaint due to confidentiality rules, but he heard it was an offended judge. He reached out to constitutional lawyer Talbot "Sandy" D'Alemberte, a former president of the American Bar Association and Florida State University, whom he had met at a recent dinner honoring Parker. D'Alemberte intervened at The Bar, and the case was dropped Jan. 13, 2011.
D'Alemberte also is helping Weidner at the request of the Florida Press Association and the First Amendment Foundation, which were contacted by Weidner. He declined comment on his pending investigation. But D'Alemberte said he believes the case also will be dropped.
Of 90,000 lawyers in Florida, 8,100 disciplinary files were opened by The Florida Bar, and 155 lawyers were disbarred last year.
I like Matt, but he travels to Court with a news reporter and he has clients which break in and move back in to houses after the property has gone to sale - (break ins are not under the advice of counsel - Matt Weidner). Those things are just looking for trouble - I am actually suprised the Bar is not looking into those things. A CA attorney was disbarred for advising clients to break into houses and retake possession.
Freddie Alters Property Insurance Requirements
http://www.freddiemac.com/sell/guide/bulletins/pdf/bll1109.pdf
Freddie Mac has eliminated its requirement that the standard mortgage clause in property insurance policies provide for notice to the mortgagee of any reduction in coverage. Effective immediately, only the notice of cancellation will be required, the company told servicers Tuesday.
Freddie Mac has eliminated its requirement that the standard mortgage clause in property insurance policies provide for notice to the mortgagee of any reduction in coverage. Effective immediately, only the notice of cancellation will be required, the company told servicers Tuesday.
Qualified Residential Mortgage
If the federal regulators' proposed definition of the Qualified Residential Mortgage (QRM) had been in effect last year, nearly 40% of originations would have failed to meet the 20% down-payment requirement, CoreLogic reports.
In a mortgage-trends publication released this week, the data provider notes that 39% of 2010 originations had a loan-to-value (LTV) ratio about 80%.
"Even if the down-payment constraint is moved down to 10 percent, the impact is large because nearly one-quarter of all 2010 originations had higher LTV ratios," CoreLogic says in its report.
The proposed 20% down-payment standard would cause more sluggish sales in some states in the short term, CoreLogic says. According to the company's analysis, the down-payment requirement would have the least effect in New York, Hawaii and North Dakota, and the greatest impact on sales in Georgia and Colorado, which are examples of states that have a lower-than-average share of below-80% LTV loans.
In a mortgage-trends publication released this week, the data provider notes that 39% of 2010 originations had a loan-to-value (LTV) ratio about 80%.
"Even if the down-payment constraint is moved down to 10 percent, the impact is large because nearly one-quarter of all 2010 originations had higher LTV ratios," CoreLogic says in its report.
The proposed 20% down-payment standard would cause more sluggish sales in some states in the short term, CoreLogic says. According to the company's analysis, the down-payment requirement would have the least effect in New York, Hawaii and North Dakota, and the greatest impact on sales in Georgia and Colorado, which are examples of states that have a lower-than-average share of below-80% LTV loans.
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