SANTA ROSA (Sonoma County), CA — The big news in landlord-tenant law is that President Obama has extended the Protecting Tenants at Foreclosure Act through 2014, This law gives tenants renting from landlords who are later foreclosed on 90 days (if they have a month to month lease) or the remainder of the lease (if there’s a current written lease.) The problem with the law has been that it talks about leases entered into before “foreclosure.’ Well, in California (and probably many other states) there is no specific event called foreclosure. There are two events: there’s the notice of default …Read more »
Monthly Archives: July 2010
Obama extends, clarifies protection for tenants in foreclosed homes
Category: Foreclosure, Landlord-Tenant |
California debtors, don’t be like this guy after filing for bankruptcy
With a lead-in of “Who says bankruptcy can’t be fun?” The Wall Street Journal, following up a report in the Seattle Times, reports that Seattle real estate tycoon Michael Mastro, who filed Chapter 7, has been living high on the hog. How high? Check this out. Michael R. Mastro, the Seattle real-estate tycoon, filed for Chapter 7 of the U.S. Bankruptcy Code last summer reporting liabilities of $570 million. He then proceeded to take vacations in Italy, Paris, New York and Palm Springs, Calif., as well as ski trips to Switzerland and Jackson Hole, Wyo. He has enjoyed $2,900 dinners …Read more »
Category: Chapter 7 |
Seeking Answers in Northern California? Just ask.
If you’re reading this blog but you’re not yet ready to sign up for a consultation, feel free to post a question in the form to the right. I’ll do my best to provide a basic understanding of the law. Obviously, I won’t give specific legal counsel without having a solid understanding of your situation (that would require a face-to-face meeting in my Santa Rosa, CA offices — or a phone meeting), but I encourage you to shoot me a question of comment here, and I’ll try to provide some help. Look forward to hearing from you.
Category: Bankruptcy |
Credit fears holding you back from bankruptcy? For many California debtors, that’s just foolish
Usually when I meet with people in my Sonoma County offices in Santa Rosa, one of the first questions they have is, how bad will filing for Chapter 7 bankruptcy be for my credit? Will I be able to rent again? Will I be able to buy a car? Of course a bankruptcy stays on your credit report for 10 years, so it ain’t great. But if you’re sitting in a bankruptcy attorney’s office — the odds of you having stellar credit are pretty bad. In point of fact, you probably have a wave of late payments, nonpayments, credit cards …Read more »
Category: Bankruptcy, Chapter 7 |
Five years later, tighter BK rules don’t stop Sonoma County debtors from filing
Santa Rosa, CA — Back in 2005, Congress passed — at the behest of credit card companies — a dramatic overhaul of the bankruptcy laws, under the supposed need to stop debtor “fraud.” In fact, the law was intended to protect the monied interests by making it harder to file bankruptcy. The San Francisco Chronicle took a look at the effect of the law 5 years later. It’s clear that the law had an immediate freezing effect on bankruptcy filings, but today in light of the Great Recession, filings have steadily and markedly marched upward. This either proves, as Scott …Read more »
Category: Bankruptcy, Chapter 7 |
Santa Rosa,CA homeowners find Chapter 13 makes sense
2009 was a record year for bankruptcies, with a record high of 2,264 cases in Sonoma County alone. According to a Santa Rosa Press Democrat report from April, Chapter 13s are a growing part of bankruptcy here, as people look to save their homes. Key reason: Homeowners can strip the second mortgages on their underwater homes, while entering a payment plan to cure arrears on the first mortgage, while staying current on the first. As a result, many homeowners are able to modify their loans on the first. The story features a typical Chapter 13 story, Robert and Jennifer Campbell, …Read more »
Category: Chapter 13 |
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Recent Post
- California eviction basics
- Thinking about college? Did you know student loan debt is nondischargeable?
- What happens when creditor calls continue after bankruptcy? Santa Rosa attorney explains
- Santa Rosa attorney: What Vallejo teaches consumers about bankrupcty
- Santa Rosa attorney: Why you need a lawyer for bankruptcy