Category Archives: Secured loans

How the bankruptcy court can lower your car payment(s)

By doug | Published: January 18, 2019

While some Americans are able to get by without a personal vehicle, having reliable transportation is necessary to most. Whether it is a means to get to work or to school or to take the kids to soccer practice, a vehicle can be an important part of daily life. It is no wonder that one […]

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The repo man is now inside your dashboard

By doug | Published: September 25, 2014

The latest wrinkle in auto finance has a nasty edge to it, as lenders are pouncing on new technology that allows them to remotely shut off a borrower’s vehicle if they are only a few days late on a payment. Writing for the New York Times and Boston Globe, Michael Corkery and Jessica Silver-Greenberg describe […]

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Getting a mortgage after bankruptcy just got a little easier

By doug | Published: August 26, 2014

Here’s a little bit of good news for people who have filed for bankruptcy, but are wishing they could buy a property again. As of July 29, 2014, Fannie Mae has relaxed its rules for qualifying for a mortgage with a bankruptcy on your record. While bankruptcy can be listed on your credit record for […]

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The worst bankruptcy mistake you can make in Massachusetts

By doug | Published: May 20, 2014

Recently I ran across someone who wanted to make just about the worst mistake possible for a Massachusetts resident who has just filed for bankruptcy protection. She wanted to sign a reaffirmation agreement on a leased car. Why is that such a no-no if you live in Mass? First, some terminology: a reaffirmation agreement is […]

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Green Tree Servicing not easy to deal with

By doug | Published: April 24, 2014

Just came across a fantastic quote concerning Green Tree Servicing from Massachusetts based short sale broker Maryann Little, who commented “Greentree is NOT the easiest servicer to work with. They are SLOW…..” when she was discussing a listing in Lowell. I would add that my clients have had problems with this firm as well in […]

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Are casino liens really hardball?

By doug | Published: February 11, 2014

Two front page articles in the Boston Globe in three days has put in the news this fact: Foxwoods and Mohegan Sun, the two massive Connecticut casinos which are now seeking the first gaming licenses ever issued in Massachusetts, have sometimes gotten liens on gambler’s Massachusetts homes for unpaid advances. First, the Sunday Globe “exposed” […]

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Big tax bills for short sellers? Bankruptcy could come to the rescue

By doug | Published: January 16, 2014

It’s the middle of January 2014, and there still has been no movement by Congress in Washington to re-enact the Mortgage Forgiveness Debt Act, which expired at the end of 2013. That’s bad news for people looking to get out of real estate by a short sale (and for people being forced out of it […]

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Clarification on property value disputes in Massachusetts bankruptcy court

By doug | Published: November 20, 2013

Disputes over real estate values are becoming a hot topic in bankruptcy court again, after years of dormancy due to the recession. A recent Massachusetts case decided by bankruptcy judge Melvin Hoffman in the Worcester division of the court gives a behind-the scenes look at some of the problems that crop up when debtors and […]

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Does Green Tree Servicing really hold your mortgage?

By doug | Published: November 14, 2013

In a Massachusetts bankruptcy case, a judge has been asked if Green Tree Servicing LLC can prove it really hold the mortgage it wants to foreclose on. In the Martin case (October 9, 2013), the married debtors house was underwater, they hadn’t made a mortgage payment since 2011, and they were perfectly willing to let […]

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Loans stripped in Chapter 13 may not be means test deduction in Massachusetts

By doug | Published: November 7, 2013

Bankruptcy debtors who are looking at Chapter 13 as a way to get rid of an unwanted second (or third) mortgage may have an additional obstacle to overcome if their case lands in Judge Melvin Hoffman’s courtroom. In an opinion released in the Garrepy case (November 6, 2013), Judge Hoffman said that if the married […]

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