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Bankruptcy May Not Be Best Option for Unsecured Mortgage Lenders
Many times in cases of mortgage lenders, bankruptcies can end in lieu of a short sale. Short sales can save the lender the time and expense of foreclosing, as well as the cost of maintaining and marketing the property once it is owned by the lender. In

Family with €600000 debt first to get write-off deal
Family with €600000 debt first to get write-off deal Mr O'Brien would not say how much of the buy-to-let mortgage debt was written off but he indicated that most of the unsecured loans will be wiped if the family sticks to the six-year agreement. He said he charged €5,000, plus VAT of 23pc, for the deal.

The Tale of the $8 Million 'Bargain' House in Greenwich
He was forced to declare bankruptcy in 2010, unable to afford his $66,000 a month mortgage or the $25,000 monthly upkeep. According to his filing, Mr. Fuscone Some houses move, real estate brokers say, others do not. But given that Mr. Fuscone is

Ally CEO Sees IPO Road Show in the First Half of This Year (1)
Ally Financial Inc., the auto lender bailed out by the U.S. government, may start a road show for an initial public offering as soon as this quarter as the U.S. Treasury looks to shed its ownership, according to its chief executive officer. The

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Here's why the Sears saga could go on for months

“It’s unique in a company of this size and can certainly promote some conflicts of interest,” Hamroff told MarketWatch. “Are you protecting your interest as creditor or as CEO? Which hat are you wearing?”

See: U.S. retail sales are soft for the second month in a row despite strong economy

Lampert took control of Sears in 2005 when he merged it with Kmart. Since then, the company has lost billions and shuttered hundreds of stores. The company’s market value has shrunk to $33.8 million, according to FactSet, and its shares closed Monday at 31 cents.

Lampert has taken steps to position himself to benefit from the moves required to keep the company in business through years of decline, while shielding himself from potential downside. For example, the real-estate investment trust Seritage, which was launched in 2015 by a group that includes Sears shareholders and Lampert’s hedge fund ESL, acquired 266 properties from Sears and leased many of them back to the retailer.

Lehman Brothers Seeks to Expand Lawsuits Against Loan Originators

Last week, Lehman Brothers Holdings Inc. (“LBHI”) filed two new motions in its ongoing Southern District of New York Bankruptcy Court litigation against approximately 130 loan originators and brokers: (1) an Omnibus Motion for Leave to File Third Amended Complaints Pursuant to Rule 7015 of the Federal Rules of Bankruptcy Procedure (“Motion for Leave to Amend Complaint”); and (2) a Motion for Leave to Amend and Extend the Scope of the Alternative Dispute Resolution Procedures Orders for Indemnification Claims of the Debtors against Mortgage Loan Sellers (“ADR Motion”).  This firm currently represents more than a dozen of the defendants.

In the Motion for Leave to Amend Complaint, LBHI seeks to add new claims to its current suit against each defendant.  Specifically, it plans to add new indemnification claims resulting from the Court’s Order Estimating Allowed Claim Pursuant to RMBS Settlement Agreement, dated March 15, 2018, and from LBHI’s related settlement of proofs of claim filed by various RMBS trustees (collectively, the “RMBS Settlement”).  The RMBS settlement resulted in the RMBS trustees having allowed claims against LBHI for more than $2.45 billion. LBHI will now seek to recoup, via contractual indemnification claims, as much of that amount as it can from mortgage loan sellers and brokers.

if you file bankruptcy, are mortgage lenders more or less likely to work with you for a modification?

in filing chapter 13 bankruptcy, are mortage lenders more or less likely to work with you to get a home modification.

I am a bankruptcy legal assistant and within the past year this issue has come up almost daily. We always tell clients to apply for a loan modification. At most mortgage companies, they require you to be at least 3 months behind on your mortgage.