Time Period to Remove Second Mortgages

Time Period to Remove Second Mortgages Once a mortgage is paid or satisfied, the beneficiary under the deed of trust has 30 days to deliver all documents to the trustee. To allow reconveyance. California Civil Code Section 2941(b)1 provides:

$25 Per Day If No Pink Slip?

  Did you know that when you pay off your vehicle, the lender has 15 days to send you the Pink Slip?  If you do not receive the signed off pink slip within that time, then you are entitled to $25 per day for each day over 15 days, up to a maximum of $2,500.00.   […]

I can recover Garnished Wages and Bank Levies?

Yes you can!  Bankruptcy not only eliminates debt, but can also be a tool to recover previously garnished wages, levied monies from bank accounts, liens, and other involuntary transfers. Under 11 USC 547, property taken within 90 days of filing bankruptcy can be recovered thru the filing of an Adversary Proceeding in the Bankruptcy Court.  […]

High Income and Expensive Real Estate Still Okay for Chapter 7

We often hear the phrases “I make too much money to file bankruptcy,” or “I have too much property to file for bankrutpcy.”  These myths are often untrue.  Recently, the San Diego Bankruptcy Court allowed debtors with income of $14,500 per month and over $8000.00 in housing expenses related to their “McMansion” to receive a […]

Execute a Reaffirmation Agreement to Save Your Car!

In a disappointing decision dated September 15, 2009, the Ninth Circuit Court of Appeals issued its ruling in Doan Law Firm’s Dumont appeal.   This split 2 to 1 decision established new law in the Ninth Circuit.  Essentially, it overturned the long established “Ride Thru” options for debtors that wanted to keep their vehicles in bankruptcy without signing reaffirmation agreements. Dumont now holds […]

Bankruptcy and Short Sales in Southern California

For a period of time, Doan Law Firm rarely recommended Short Sales on homes that would be eventually surrendered in conjunction with a Chapter 7 bankruptcy filing.  This was because in the past, there was rarely any benefit to the client.  In fact, short sales years ago created more problems than advantages. Times have changed now.  […]

Dragnet Clauses, Cross-Collateralization Clauses: Will I lose My Car?

Often times, client are unaware that their car is secured not only by the vehicle debt, but also credit cards and other personal loans.  This is very frequent with credit unions.  Stay tuned, more on this blog to be published soon! Written by Michael G. Doan– Owner of the Carlsbad Bankruptcy Office, Michael not only manages his […]

How to Resolve Relief of Stay With An Adequate Protection Order:

So you received a motion for relief of stay in your chapter 13 case.  What next?  Can you get current in a reasonable amount of time and was the setback only temporary?  If so, the negotiation of an Adequate Protection Order (“APO”) might be just what you need.  Stay tuned, more on this blog to […]

Inequitable Divorce Settlement and Filing Bankruptcy?

So you got divorced and the property distribution was less than fair.  Will this be a problem in the bankruptcy?  Probably not!  Unless there is “extrinsic fraud,” the bankruptcy trustee will be unable to undue the inequitable divorce settlement.  Stay tuned, more on this blog to be published soon. Written by Michael G. Doan- Michael is […]

One More Reason to File Chapter 7 and Not Chapter 13

Despite the Trustees, Creditors, and Courts making it very difficult to seek chapter 13 relief, Congress seems to have provided one more reason to seek chapter 7 relief instead of chapter 13 relief: Debt Limits.  Thats right. Unless you qualify within the debt limits, you are prohibited from filing for chapter 13 relief to save […]

HOA Dues After Bankruptcy in California

The new bankruptcy laws that passed in October, 2005, have created an exception to discharge of HOA fees that accrue after the bankruptcy case is filed until the title and possession of the property transfers.  While its tough to escape this liability, there are ways to minimize its effects. Stay tuned, more on this blog to be […]

Doan Law Vehicle Surrender Policy

Doan Law Vehicle Surrender Policy If you are a client of one of the San Diego Offices of Doan Law, please take note that the Firm will help in the surrender of your vehicle, but only if the Lender refuses to pick up the same.  As a general rule and when you no longer desire possession […]

Bankruptcy Mortgage Cramdown Fails

In a crushing blow, the Cramdown legislation advocated by the Obama administration which would allow Bankruptcy Judges to modify mortgages in Bankruptcy has been voted against.  This legislation would have reduced principal balances to fair market value, lowered interest rates, amortized the loan over 40 years, and reduced payments.  Despite the measure failing, the Obama […]

New Bankruptcy Laws for San Diego: Mortgage Modification AKA “Cram Down”

New Bankruptcy Laws may soon go into effect to provide much needed and over due relief for San Diegan’s upside down on their residences.  Last week, legislation cleared the House and is on its way to the Senate. Stay tuned, more on this blog to be published soon. Written by Michael G. Doan-Owner of the Carlsbad Bankruptcy […]

What is the Latest News on Cram Down (Mortgage Modification in Bankrutpcy)

It looks like the “Cram Down” Bankruptcy Reform will not be part of the economic stimulas package presently before Congress.  But good news, is that President Obama will push for the Cram Down soon thereafter.  Per a recent email I just received:   I wanted to keep you in the loop on judicial modification, one […]

Foreclosure and Bankruptcy: Save Your Home in California!

All too often people fail to understand how powerful a chapter 13 is when it comes to saving your home from foreclosure.  Stay tuned, more on this blog to be published soon. Written by Michael G. Doan– Presently, Michael is concentrating his practice solely in Bankruptcy Law and is a Board Certified Specialist in Consumer Bankruptcy Law […]

Bankruptcy Relief of Stay: What Is Required?

Most courts routinely grant relief of stay with little showing by the moving party.  Nevertheless, all parties requesting relief of stay should be required to meet both the substantive and procedural requirements in moving for relief of stay.  Stay tuned, more on this blog to be published soon. Written by Michael G. Doan– Michael Doan is a […]

Possible New Bankruptcy Laws to Require Mortgage Modification?

Over the past two weeks, new legislation has been introduced into both the Senate and House which would allow mortgages to be modified on personal residences.  Such new sweeping bankruptcy reform would drastically change current laws which presently only provide for modification of junior mortgages.  Stay tuned, more on this blog to be published soon. […]

Why do Some Billing Statements on Real Estate Continue After Discharge?

I get this question all the time from clients.  “I received my discharge 3 months ago and am still getting billing statements from my lender. Why?” Well, the answer lies in new 11 USC 524(j).  Stay tuned, more on this blog to be published soon. Written by Michael G. Doan   Call to speak with a […]

Real Estate Loans Generally Should Never Be Reaffirmed

Doan Law Firm generally never reaffirms real estate loans since the laws do not require such in order to keep your home.  The only exception might be if the Lender offers a reaffirmation agreement which favorably modifies the original loan agreement with reduced payments, interest, and principal balances.