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Bankruptcy Filing Fees increasing June 1, 2014

The Judicial Conference approved $29 filing fee increases effective June 1, 2014. The total new filing fee for each chapter will be as follows: For filing a petition under Chapter 7: from $306 to $335 For filing a petition under Chapter…
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8th Circuit Court of Appeals takes “Lien Stripping” case under advisement

The 8th Circuit of Appeals heard arguments on Wednesday March 12 in a case involving whether wholly unsecured junior second mortgages can be stripped in chapter 13 bankruptcy. A ruling will be issued “in due course,” which will likely be…
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Can an individual be held liable for post separation debts incurred by the other spouse?

Yes. Debts are the same as negative assets, and the presumptive date for dividing a marital estate is the date of your pretrial, which is often many months after separation. There are two exceptions, which is that the parties can agree on a…
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How long after a bankruptcy does it take to qualify for a mortgage?

The answer is “it depends”.  It depends on what type of mortgage you are seeking, which chapter of bankruptcy, and perhaps most importantly, it depends on what the underwriting requirements are at the time you are actually seeking a mortgage. …
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How to Maximize Your Time in a House That is Going into Foreclosure by Filing Chapter 7 Bankruptcy

Part 4 in a series on how we help people in underwater homes When I talk to someone who is going into foreclosure, I ask them if they want to save their house, and 9 out of 10 people say “yes.” So usually the best way to do that is by way…
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How to save your house with a chapter 13 bankruptcy

Part 3 in a series of how to save your house When a person who is behind on their mortgage payments calls me, I go through a hierarchy of questions: A. Do you want to save your house? B. Can you afford your mortgage payments? C. Have you tried…
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Extension of Sheriff’s Sale of Foreclosure Under State Law

The first thing I ask people when they are facing foreclosure, is whether they’ve tried to get a loan modification. A prior blog entry suggests how to go about that. Often, people have assumed that loan modifications are handed out on a silver…
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How to get a loan modification

It seems that every time I read the paper, there’s a new program to help homeowners, or a new lawsuit against mortgage companies that was settled, and they talk about how it helps, but there are never details on how to go about it. And few…
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Lawyer sanctioned for challenging mortgages without legal basis

A Minneapolis federal court recently sanctioned a Minneapolis lawyer $50,000 for trying to invalidate mortgages without a legal basis under Minnesota. While some courts in other states have been quick to nullify mortgages when the foreclosing…
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Can I keep my tax refund?

The quick answer, is that you can almost always protect your tax refund. There are several different scenarios at play, so first it is best to understand your rights outside of bankruptcy, and then I will address what happens to your tax refund…