Category: Creditor-Side Bankruptcy

Sheriff’s Sales to Third Parties Cannot be Set Aside

Howard Rich (“Buyer”) purchased a single-family residence at a sheriff’s sale in July 2011. The prior owner, Yung-Shen Steven Lee (“Debtor”), had a judgment against him. Read More > ...

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How to Determine Your Primary Residence – Part 2, the Homestead Exemption

In 2011, Andy Diaz (“Diaz”) lived in a property in Fullerton, CA (“Property”) with his then wife.  In 2011, Diaz suffered severe health problems.  Later in Read More > ...

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Court Allows Owner to Evict Tenant who has Filed Bankruptcy

Sholem Perl (“Perl”) owned a duplex in Los Angeles. Perl defaulted on his loan and the property was foreclosed on in 2013. At the foreclosure sale, Read More > ...

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$900K Judgment Against Supervising Broker Dischargeable in Bankruptcy Despite Agent’s Fraud.

In a lengthy and well-reasoned opinion, the 9th Cir. Bankruptcy Appellate Panel concluded that where the broker was unaware of the agent’s fraud, the state court Read More > ...

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Buying Properties In Bankruptcy – Some Tips For Investors

What if you find the perfect house but the owner-seller is in bankruptcy? Sometimes it can be challenging to navigate the bankruptcy system and understand who Read More > ...

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Anti-Deficiency Statutes Prevent Claims of Fraud for Purchase Money Loans

In November 2013, in Heritage Pacific Financial, LLC v. Montano, the Bankruptcy Appellate Panel for the Ninth Circuit (“BAP”) held that the one-action rule prevents a Read More > ...

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Bankruptcy Court Denies Attorney’s Fees To Debtor Discharging Debts

Seyed Hosseini was a medical school graduate who incurred substantial student loans.  After graduating he was unable to pass the medical licensing boards and never became Read More > ...

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Bankruptcy Series

The attorneys at Brewer Offord & Pedersen LLP have handled many collection disputes. Our current influx of calls pertaining to these types of matters has inspired Read More > ...

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False Information on the URLA Really Matters

In the days before the financial crisis, it was common that borrowers or their loan brokers would intentionally falsify information on the Uniform Residential Loan Application Read More > ...

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CREDITORS BEWARE – How Bankruptcy Affects Your Bank Account Levies

Creditor Levies on Debtor’s Bank Account but the Debtor Files Bankruptcy Before the Sheriff Turns Over the Money to the Creditor.  Who Gets the Money? Collect Read More > ...

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No Automatic Stay For Serial Bankruptcy Filers

Last month, in In re: Leafty, the Bankruptcy Appellate Panel for the Ninth District reaffirmed the statutory bar against debtors filing serial bankruptcies to stop a Read More > ...

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McCoy v. Kuiken (In re Kuiken): Don’t Try to “Get Cute” with your Transfers

On January 4, 2013, the Ninth Circuit Bankruptcy Appellate Panel (the “B.A.P.”) held that a debtor cannot avoid a lien based on the California homestead exemption Read More > ...

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Bankruptcy Court Finds Exception to “Snapshot” Rule.

The Ninth Circuit Court of Appeals recently ruled that in order for debtors to receive the benefit of the homestead exemption after a forced sale of Read More > ...

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Supreme Court Upholds Creditor’s Rights

On May 29, 2012, the United States Supreme Court held that a secured lender must be allowed to credit bid on the sale of secured property Read More > ...

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How to Determine Your Primary Residence

One of the surprising aspects of lending law is the fact that the definition of one of the most basic terms is still in dispute. While Read More > ...

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Bankruptcy Courts Continue to Punish Negligent Lenders

Previously, I wrote about the diverging case law in state and bankruptcy court regarding foreclosure litigation.  In state courts, California has almost unilaterally upheld nonjudicial foreclosure Read More > ...

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Bankruptcy Basics, Part I

In the past several months, I have had numerous private lender clients come to our office and ask me how they should proceed after receiving a Read More > ...

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Bankruptcy Basics, Part II

Previously I wrote about the basic bankruptcy terms.  This article  covers more advance topics related to creditors in bankruptcy and protecting their interests. Proof of Claim: Read More > ...

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Bankruptcy 201: Relief From Automatic Stay

By: Henry Chuang, Esq. Now that we have covered some basic bankruptcy terms in the prior two articles “Bankruptcy Basics, Part I” and “Bankruptcy Basics, Part Read More > ...

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Federal Court Holds That There Is Still a Difference Between a Note and a Mortgage

Although most people in California refer to a loan secured by a house as a mortgage, the legally accurate terminology is a promissory note secured by Read More > ...

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Extreme Deal Hunting: Buying from Bankruptcy Estates

By now, short sales and REO’s have entered the mainstream vocabulary to describe properties that are distressed.  Recently, due to the increase number of bankruptcy filings, Read More > ...

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We’ve Seen Some Weird Stuff

Over the years, we have encountered a number of strange fact patterns which tend to stand out in our collective memory. Below is a list of Read More > ...

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I Am A Secured Creditor – How Long Will I Wait To Get Paid By A Borrower Who Just Declared Chapter 13 Bankruptcy?

Chapter 13 bankruptcy is often thought of as the bankruptcy relief that offers the debtor some “breathing room” from his creditors. The Chapter 13 debtor is Read More > ...

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I Am A Private Money Lender Who Made A Loan To A Borrower Who Has Just Filed Bankruptcy. Why Do I Need To Get A New Appraisal On Property When The Borrower Is In Bankruptcy?

As lenders know, when a borrower files for bankruptcy, the act of filing clamps down on any and all collection efforts against that borrower and her Read More > ...

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Court Allows Owner to Evict Tenant Who Has Filed Bankruptcy

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How to Determine Your Primary Residence – Part 2, the Homestead Exemption

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