bankruptcy lawyers: California Anti-Deficiency Legislation - 07/28/11 09:32 PM
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. … (0 comments)

bankruptcy lawyers: Bankruptcy Primer - 09/13/10 07:07 PM
1.  The Automatic Stay of a Foreclosure:  The filing of a bankruptcy case, whether Chapter 7, 11 or 13, gives rise to an automatic stay that will put a stop to a pending foreclosure or any other collection efforts, with some exceptions.
2.  Lien Stripping:  This is a commonly used term to describe when a bankruptcy court values real property for the purpose of determining if the first is partially undersecured and the second or third wholly undersecured.  If the value of the residential property is less than the amount owing on the first, any other liens recorded against the … (0 comments)

bankruptcy lawyers: Five Questions To Ask A Lawyer Offering Bankruptcy Services - 09/07/10 03:06 AM
Five Questions every Client, Friends or Family Should Ask a lawyer offering Bankruptcy Services: 1. Is the Lawyer Certified by the California State Bar as a Specialist? 2. Has the Lawyer been practicing for 25 years? 4. Has the Lawyer practiced before the 2005 Amendments and each year after? 3. Has the Lawyer been published in Appellate Decisions, Treatises or books on Bankruptcy? 5. Has the Lawyer served as the President of the largest bar association of local consumer bankruptcy lawyers?
If not, and most are not, please have your friends and family give us a call.  Remember, making the … (4 comments)


Louis Esbin

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