by Kevin Fallon McCarthy | Jun 16, 2015 | Debt Relief, Debt Settlement, Foreclosure Deficiency Debt, HELOC and Mortgage Debts
Are Foreclosures Still A Huge Problem? According to NPR, the number of foreclosures in Nevada is up 40% over last year. This amounts to about 900 foreclosure starts in one month statewide. “RealtyTrac, a real estate analytics firm, found one in every 555 homes...
by Kevin Fallon McCarthy | Jan 16, 2015 | Foreclosure Deficiency Debt, HELOC and Mortgage Debts, Loan Debt, Mortgage Debt
From the desk of San Francisco lead attorney Alison Cordova: There are deadlines for foreclosure. Which deadline depends on what type of foreclosure and whether there is a maturity date in the note. In 1933, CA adopted Section 725(a) of the Code of Civil Procedure,...
by Kevin Fallon McCarthy | Dec 15, 2014 | Debt Relief in California, Foreclosure Deficiency Debt, HELOC and Mortgage Debts, Mortgage Debt
As CNNMoney puts it: “they thought losing their home was bad enough.” Yet many people who lost their homes in foreclosure during the recession are now facing significant collections efforts. Who are these people? Anyone who owed more than their home was...
by Kevin Fallon McCarthy | Nov 24, 2014 | Avoid Bankruptcy, Debt Settlement, Foreclosure Deficiency Debt, Mortgage Debt
Zombies! Foreclosure Debt Lives As CNNMoney puts it: “they thought losing their home was bad enough.” Yet many people who lost their homes in foreclosure during the recession are now facing significant collections efforts. Who are these people? Anyone who...
by Kevin Fallon McCarthy | Oct 22, 2014 | Foreclosure Deficiency Debt
By definition, loans are not taxable income because the recipient is obligated to pay the lender back in full. However, with a few exceptions discussed below, any loan over $600 that is cancelled or forgiven, either entirely or in part, by a commercial lender, is...
by Kevin Fallon McCarthy | Oct 22, 2014 | Foreclosure Deficiency Debt
What happens when a lender asks for a California deficiency judgment? At one time, California banks were generous with second mortgages. And for homeowners, they seemed like a reasonable way to tap into a home’s equity for much-needed cash for education expenses,...
