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ABI Blog Exchange

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Insolvency Service “reframes” view of creditor – IPs can apply their discretion (UK)

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What Is a Deficiency Judgment?

Because of falling home prices, borrowers who always paid their mortgage but who have run into unforeseen circumstances – like unemployment or a job transfer – can no longer sell their homes for enough money to cover the outstanding balance owed

What Is a Deed?

A “deed” is a legal document that officially transfers the ownership of a particular piece of real estate. In addition to listing the new buyers’ names, a deed also contains the past property owners’ names. To be legally-binding, a deed must contain

Knock On Wood? Not Likely To Help Save The Furniture Industry From Itself

The first ten years of the 21st century have not been friendly to the furniture industry. According to an ABTV Industry Report, about 20,000 furniture stores comprise the U.S. furniture retailing industry, with combined annual revenue of

Income Tax Liability in Short Sales & Deeds in Lieu of Foreclosure

If your lender agrees to a short sale or to accept a deed in lieu of foreclosure, you may have to pay income tax on any resulting “ deficiency,” which equals the amount you still owe on your mortgage after your lender sells your house at a

Bankruptcy Lawyers Will Scam You Too

If you are facing financial problems, you are a prime candidate to be the target of a money scam. You are in a vulnerable position when you have money problems. Sometimes, many people will jump at any offer of financial help or a financial solutions

Short Sales and Deeds in Lieu of Foreclosure

Many homeowners facing foreclosure determine that they just can’t afford to stay in their home. If you plan to give up your home but want to avoid foreclosure (including the negative blemish it will cause on your credit report), consider a short sale

Need Loan Modification of Your Mortgage? Don’t Get Ripped Off

Tools of the Trade for a Consumer Lawyer- NCLC Lawbooks Many people these days are trying to obtain a Loan Modification on their mortgages, often to stave off or stop a foreclosure of their home. We currently have the Making Home Affordable or HAMP

Foreclosures Down? Not Really!

RealtyTrac, the company that tracks foreclosures (state by state) and gives national figures, reports that foreclosures, meaning homeowners getting a foreclosure notice, is at a 26 month low - ONLY 225,101, down nearly 14% ( http://www.realtytrac.com

Update on Ponzi Scheme Attorney Who Committed Suicide, Leading to Involuntary Bankruptcy for his Law Firm

Written by Craig D. Robins, Esq. In November I wrote about a Long Island attorney, Jay Korn, who, on March 24, 2010, had just jumped eight stories to his death amidst an investigation into whether he fleeced millions in a Ponzi scheme. He jumped from

Craig D. Robins and Long Island Bankruptcy Blog Mentioned in Washington Post Article About Judges Becoming Intolerant of Mortgage Lenders in National Mortgage Debacle

Written by Craig D. Robins, Esq. I previously mentioned that I’ve been a little slow in writing posts about some national-level periodicals that have quoted me on various bankruptcy and foreclosure issues. I’m pleased to say that on November 9, 2010