The story goes that a farmer bought a mule from a salesman who told him that if he were polite to the mule, it would do whatever he wanted. After months of being nice – but with no success in getting the mule to work, the farmer asked the salesman for help.
In 2009, the bankruptcy courts for the Districts of Rhode Island and New York began loss-mitigation programs, whereby the court may order a homeowner and loan servicer to try in good faith to negotiate a settlement that would be preferable to foreclosure for all parties.  Under these programs, the servicer is required to provide a neg
“But as the collapse of Lehman Brothers showed, the Bankruptcy Code is not an effective tool for resolving the failure of a global financial services firm in times of severe economic stress.”
Treasury Secretary Timothy Geithner, Oct. 29, 2009
The “rationalization”—read, reduction—of Chrysler and GM’s dealership networks has taken center stage in their respective government-led restructurings.
On Jan. 27, 2009, the House Judiciary Committee approved the Helping Families Save Their Homes in Bankruptcy Act of 2009 by a vote of 21-15, and reported it to the full House. The bill is expected to be folded into the 2009 Omnibus Appropriations Bill, slated for imminent consideration in the House. Introduced by Sen. Richard Durbin (D-Ill.), H.R.
With the recent economic turmoil, there have been rumors that the current 110th Congress may address modification of 11 U.S.C. §1322(b)(2). If not addressed by the 110th Congress in its waning days, legislation most certainly will be introduced in the 111th Congress to make primary home mortgages subject to cramdown.
The federal judiciary has not had a substantial pay raise since 1991, but on January 31, 2008 the Senate Judiciary Committee marked up and approved the Federal Judicial Salary Restoration Act of 2007 (S.
Representative Miller (D–N.C.) introduced H.R. 3915 on Oct. 22, 2007 on his own behalf and on behalf of Representatives Watt (D–N.C.) and Frank (D–Mass.). The bill would enact the Mortgage Reform and Anti-Predatory Lending Act of 2007 (MRAPLA). MRAPLA includes three titles, each of which deals with residential mortgages.
H.R. 3609. This bill, entitled the “Emergency Home Ownership and Mortgage Equity Protection Act of 2007,” was introduced by Rep. Brad Miller (D-N.C.) and Rep. Linda Sanchez (D-Calif.) on Sept. 20, 2007.
A widely held assumption in bankruptcy cases and other litigation is that fraudulent intent cannot be established on a summary judgment motion but may only be found after a full trial on the merits.
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