Category : Creditor’s Rights

Federal Foreclosures Offer Flexibility At A Price

Foreclosures are amongst the most local kind of law there is: every state and county has its own procedure for allowing lien creditors the right to force a sale of property to pay down the debts secured by the real property in its jurisdiction. In judicial foreclosure states, the note holder files a lawsuit asking […]

Foreclosure Innovation for Landlord Bank

Guernsey Bank is a small, privately owned Ohio bank that is approaching bank foreclosures in a revolutionary way: they are fixing up homes and renting them out until the right buyer comes along. This practice is contrary to most banks’ tendency to credit bid on their foreclosure auctions, keep the usually beaten-up properties vacant and […]

Debtor/Creditor Negotiation Strategy: Under Promise And Over Deliver

Loan modifications in the commercial context usually yield better results than in the consumer world. This is because there’s usually a loan officer who is assigned to a troubled credit and has responsibility over collecting information, making fundamental decisions, reporting to committee and finally closing a loan modification or forbearance deal.  Unlike the consumer world […]

Bankruptcy: 9.5 Million Reasons Why The Botticelli Will Stay In New York

Kraken Investments consigned the classic “Madonna and Child” painting by Botticelli to crooked NY gallery owner Lawrence Salander in 2006. The painting is valued at $9.5 million. Kraken, an Israeli company, probably thought it had dotted its “i’s” and crossed its “t’s” when it had Salander sign a consignment agreement agreeing that any disputes would […]

California Dreaming: 3 Reasons Why Their New Foreclosure Law May Spread Across The Country

Inspired by the national attorney general mortgage settlement, California has passed a landmark foreclosure law that Governor Brown is expected to sign within days. Here are 3 reasons why the rest of the country will be watching the Golden State in the months and years ahead: No “Dual Tracking”  The California law is designed to […]

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