Author Archives: lbq

Short Sale Interrupted (A Tale from The Trenches About 580(e))

By lbq | Published: September 8, 2011

Fears that lenders would refuse to approve short sales because of new legal protections for short sellers come true in this true case. A previously approved short sale was denied and the approval rescinded when the new law required mortgagee had to waive deficiencies.

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Short Sale Paradigm Shift with SB 458

By lbq | Published: September 8, 2011

Quintana Reynard’s new Short Sale Letter Review takes into account the newly passed law CCP 580e and offers expanded follow-up including short payoff assessment to facilitate negotiations with lenders.

Posted in Deficiencies, Real Estate, Short Sales | Leave a comment

Bankruptcy Eligibility Evaluation

By lbq | Published: September 8, 2011

Some – but not all – consumers can take advantage of expedited filings to obtain federal protections in bankruptcy. We can determine your eligibility for Chapter 7 or Chapter 13 bankruptcy and explain the benefits of each so you can make an informed decision.

Posted in Bankruptcy, Chapter 13, Chapter 7 | Leave a comment

Can Bankruptcy Help Short Sale Approval?

By lbq | Published: September 8, 2011

Contrary to common belief, a bankruptcy or the possibility of a bankruptcy can help obtain short sale approval in some circumstances by reducing the value of potential future collection actions.

Posted in Bankruptcy, Deficiencies, Real Estate, Short Sales | Leave a comment

Know Bankruptcy Alternatives Before Short Sale

By lbq | Published: September 8, 2011

Upsidedown Sellers should know whether they qualify for lienstripping before deciding to try a short sale. If so, they could remove a second mortgage from their home. A consultation with a bankruptcy attorney can provide essential information.

Posted in Bankruptcy, Chapter 13, Chapter 7, Real Estate, Short Sales | Tagged , , , | Leave a comment

Short Sale Approval Letter Review By Attorney

By lbq | Published: June 13, 2011

Quintana | Reynard APC will review short sale approval letters for homeowners. We also maintain a library of short sale approval letters that have been sanitized or redacted of personal information.

Posted in Deficiencies, Short Sales, Uncategorized | Leave a comment

Deficiency After A Short Sale – Double Trouble for Realtors

By lbq | Published: June 13, 2011

Beware of doublespeak from bank lawyers in short sale approval letters (“SSAL”), such as the example below from FNMA. Some SSALs sound safe while creating future liability – but this one sounds dangerous and really is benign.

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After your Bankruptcy Discharge: Making the Fresh Start a Good Start

By lbq | Published: May 16, 2011

The discharge means successful bankruptcy. Here are 12 tips for success after discharge.

Posted in Bankruptcy, Chapter 13, Chapter 7 | Tagged , , | 1 Comment

Extraordinary Relief: The Role of Injunctions in Business Litigation

By lbq | Published: May 16, 2011

Injunctions can be essential in business litigation and also in homeowner litigation to preserve the status quo. There are important pros and cons to consider, and three types of injunction. Benefits include protecting you from imminent harm and promoting rapid settlement.

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The Matter with MERS

By lbq | Published: April 4, 2011

MERS is a company designed to save money for lenders by avoiding recording mortgage transfers with the county recorder’s office. This procedure helps the mortgage securitization industry but raises questions whether legal ownership has been properly documented.

Posted in Deficiencies, Foreclosure, Lenders | Leave a comment

Last Minute Tax Tips 2011

By lbq | Published: April 4, 2011

Several important points to keep in mind as the filing date for 2010 taxes approaches relate to: health insurance, unemployment income, home buyers, free services, and a short extension due to Emancipation Day.

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Home Affordable – But Not Affordable Yet and Not Affordable Enough

By lbq | Published: March 4, 2011

MHA, HAMP, HAFA and 2MP are federal programs that can help homeowners but these programs are difficult for homeowners and are underperforming expectations.

Posted in Foreclosure, Lenders, Loan Mods | Tagged , , , , , , , | Leave a comment

Bankruptcy Chapter 7 Liquidation Basics

By lbq | Published: March 4, 2011

What is Chapter 7? What are the benefits? What is exempt property? What debts are discharges? What happens to secured Debts? Who qualifies for Chapter 7?

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How to Avoid/Strip A 2nd Mortgage In Chapter 13 Bankruptcy

By lbq | Published: February 23, 2011

Bankruptcy Chapter 13 Lien-Strip For 2nd Mortgage on Home Possible With Mandatory Form In CACB

Posted in Bankruptcy, Chapter 13 | Tagged , , , , , | 2 Comments

Specific Forms Mandatory after 3/14/2011 for Lien-strip Of Junior Mortgage in California Southern Bankruptcy District

By lbq | Published: February 14, 2011

Bankruptcy Court in Southern California Adopts Rule Establishing Procedure for Lien Stripping in Chapter 13 Cases In San Diego, the bankruptcy court is slated to adopt local rules that include a mandatory form for “stripping” liens from a Chapter 13 debtor’s primary residence.  This rule applies to the California Bankruptcy southern district (see below **). [...]

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Remove 2nd Mortgage Debt (Lien-strip)

By lbq | Published: February 9, 2011

Second Lien May Be Stripped From Primary Residence for Homeowners Qualified to File Chapter 13 Bankruptcy if home value is below first mortgage.

Posted in Bankruptcy, Deficiencies, Lenders | Tagged , , , , , | 1 Comment