How Do You Collect Your Multi-Million Dollar Judgment After The Debtor Dies? By: Julia M. Wei, Esq. Don’t Wait Nine Months After Judgment to Start Collecting. Recently, the California Court of Appeals issued an opinion finding that even though the judgment creditor had used the wrong judicial … [Read more...]
California Small Business Guide to Getting Paid – 7 Tips to Collect Accounts Receivables for Goods or Services Valued Over $10k and Less than $25k.
California Small Business Guide to Getting Paid 7 Tips to Collect Accounts Receivables for Goods or Services Valued Over $10k and Less than $25k. Once a borrower or customer owes you over $10k, you are now in excess of the small claims court jurisdiction. That means that you have a … [Read more...]
California Small Business Guide to Getting Paid
How to Collect Accounts Receivables for Goods or Services Valued < $10k. Running a small business means that you will occasionally run into an accounts receivable situation. If you are a trade, like a flooring supplier, you also have the added remedy of the mechanic’s lien (assuming you … [Read more...]
What Happens to an Abstract of Judgment When the Debtor Files Bankruptcy?
By: Julia M. Wei, Esq. Normally when a party wins at trial, all the prevailing party has is a judgment. It takes more than the issuance of a judgment to get paid on it if the debtor is being evasive. In order to “perfect” the judgment, the judgment creditor can and should request the court … [Read more...]
Why Lenders, Loan Servicers and Trustees Need to Understand the Intengan Case
Today my colleague Simon Offord published a short case update in our firm’s monthly newsletter* regarding the case of Intengan v. BAC Home Loans Servicing (March 22, 2013). He writes: “… the 1st District Court of Appeal recently held that a homeowner may pursue a wrongful foreclosure claim … [Read more...]
What You Didn’t Hear About the Fiscal Cliff Vote – Mortgage Debt Relief
By Julia M. Wei, Esq. Buried in the New Year’s Day bill was SEC. 202, which extended the Mortgage Debt Forgiveness Relief Act through 2013. Except, the section was cryptically called “EXTENSION OF EXCLUSION FROM GROSS INCOME OF DISCHARGE OF QUALIFIED PRINCIPAL RESIDENCE INDEBTEDNESS.” That means … [Read more...]
New California Foreclosure Laws for 2013
In July, I posted a snippet about the "Homeowner's Bill of Rights" ("HOBR" or "HOBoR"), also known as the California Foreclosure Reduction act. At the firm's law blog, I later wrote with more specificity about HOBR explaining some of the requirements that have changed about notices to … [Read more...]
Private Lender Fails to Tighten Up Promissory Note, Loses ~$200K of Interest
By: Julia M. Wei, Esq. Lenders may not be scrutinizing their loan documents as closely as borrowers are these days. Certainly, private lender Hyman Levy had a rude awakening when the appellate court concluded Levy was NOT entitled to default interest when the borrower did not make the … [Read more...]
California Passes “Homeowner Bill of Rights” Legislation
With much fanfare, the Attorney General's office announced today the passage of a collection of bills intended to protect homeowners who are attempting a loan modification. Among the key provisions, the statutes will: -Require creditors to provide documentation to a borrower that … [Read more...]
Foreclosure Investors: Getting Relief When the Occupant Files for Bankruptcy
By: Julia M. Wei, Esq. What happens when you buy a property at a trustee's sale in California and the borrower files for bankruptcy? Foreclosure Buying and Bankruptcy by: dirtblawg FORECLOSURE INVESTMENT PROPERTY / BANKRUPTCY Client: Do you remember that investment property I … [Read more...]
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