Southern California Bankruptcy Law Blog

Monthly Archives: March 2012

Mortgage Rescission And Bankruptcy

Posted in Chapter 13, Chapter 7

I.          What Is Mortgage Rescission? Rescission is a way for a borrower to get out of a mortgage that was fraudulently or deceptively originated.  For example, if the lender misrepresented the terms of the mortgage by failing to disclose a balloon payment, or the nature of the adjustable rate, or advised the borrower to inflate… Continue Reading

Lien Stripping In A Chapter 13 Bankruptcy

Posted in Chapter 13

In my last post I discussed the three basic requirements a Chapter 13 plan must meet to get confirmed.  In this post I will discuss a powerful Chapter 13 tool that has no Chapter 7 analogue:  lien stripping.  (No, it’s not X-rated.) I.          Lien Stripping On The Debtor’s Primary Residence First the bad news:  In Nobelman… Continue Reading

Nicholas Gebelt speaking at the “Complex Bankruptcy Issues” Seminar on May 2, 2012

Posted in Chapter 13, Home Mortgage Modification

I will be covering the topics of “Chapter 13: Vehicle and Mortgage Complications” and “Formulating a Confirmable Chapter 13 Plan” at the “Complex Bankruptcy Issues” seminar for the National Business Institute on May 2, 2012 in Orange, California.  This presentation will cover such thorny issues as 910 car claims, rescission and second mortgages,  detail how… Continue Reading