Summary:
The Debtors refinanced their home original Sun Trust mortgage again with Sun Trust, which provided the Model Form H-8 "Notice of Right to Cancel", which is used for closed-end secured consumer credit transactions. In fact it should have used Model Form H-9, which applies in a refinancing rather than new extension of credit. Form H-9 differs from Form H-8 in two ways- First, instead of Form H-8’s disclosure that the borrower is "entering into a transaction that will result in a security interest in your home," Form H-9 provides that "[y]ou are
Summary:
Citibank brought suit against the Debtor seeking to recover $5,108.89, which it alleged was owed on a credit card, originally issued by AT&T Universal Card in 1995 and acquired by Citibank in 2002. The Debtor disputed the amount owed, alleging that Citibank had changed the interest rate on the credit card without notifying him. Citibank did not respond to the Debtor’s discovery seeking a copy of the original credit card agreement, asserting that the request sough "documents previously provided to ...
Summary:
William Miller, Russell Grogan and Stephanie Grogan purchased a 21.394 acre tract (Tract I) in 1997 and subsequently a 0.15 acre tract (Tract II) to provide access to a road. In 2003, the owners granted a Deed of Trust to GMAC. The Deed of Trust included a tax parcel number that encompassed both Tract I and Tract II, but the legal description only referenced Tract II. In 2005, the owners subdivided Tract I into Tract IA, consisting of 10.932 acres owned by all three, and Tract IB, consisting of 10.389 acres which was henceforth to be owned solely by the Grogan
This paper examines the determinants of missed payments and foreclosure initiation among a national sample of homeowners who filed for personal bankruptcy in 2007, using a rich dataset from the 2007 Consumer Bankruptcy Project.
Abstract:
This essay critically examines MERS' structure which incorporates principles of dubious legality such as a theory of common agency as well as a duality of roles held by MERS. The article examines many recent decisions in state, federal and bankruptcy courts in order to identify current trends regarding MERS-related jurisprudence.
Abstract:
Section 302(a) of the Bankruptcy Code allows an individual debtor and his or her "spouse" to commence a joint bankruptcy case by filing a single bankruptcy petition. The term spouse is not defined in the Bankruptcy Code; however, since 1996, section 3 of the Defense of Marriage Act ("DOMA") has defined a spouse for purposes of federal law as "a person of the opposite sex who is a husband or a wife." Although no state permitted same-sex couples to marry when DOMA was adopted in 1996, six states currently permit same-sex couples to marry.
Summary:
National Heritage Foundation, Inc. ("NHF") filed a Chapter 11 reorganization including provisions in its plan that prevented claim not only against NHF, but also its officers, directors and employees (among others), for acts or omissions arising prior to the reorganization. The bankruptcy court affirmed these release provisions, finding that these release provisions were "essential" to the reorganization.
On appeal, Berhman contended that the plan was not proposed in good faith and was "a sham perpetrated by NHF’s officers and directors to secure immunit
Ms. Bass signed a promissory note and Deed of Trust with Mortgage Lenders Network USA, Inc. ("MLN") in 2004. After several purported assignment, Ms. Bass default in 2008 on her payments and U.S Bank, as Trustee for Wells Fargo, commenced foreclosure. After the Clerk of Court allowed the foreclosure to proceed, Ms. Bass appealed to Superior Court, asserting the U.S. Bank was not the holder of the note.
