Central District Consumer Bankruptcy Attorney's Association

Erik,
Let me preface my comments by saying that each trustee looks for different situations. That is some trustees will not short sell a debtor(s) primary residence. Others will not short sale properties where the Debtor(s) are attempting a loan modification.
In my experience banks are encouraging short sales where there is only one loan on the property and the borrower is delinquent. I have not seen that the Debtor(s) intention has come into consideration.
Larry
________________________________
criptions [eclark@blclaw.com]
Sent: Tuesday, February 26, 2013 5:20 PM
To: cdcbaa@yahoogroups.com; blc subscriptions
Subject: RE: [cdcbaa] Chapter 7 Trustees Short Selling Houses?
Larry can you elaborate on what the certain situations are? Are there certain fact patterns they are looking for? Is it the underwater and surrendering? Of just underwater?
M. Erik Clark
[Description: BCLogo]
100 N. Barranca Avenue, Suite 250
West Covina, CA 91791
www.BLClaw.com
Office: (626) 332-8600
Fax: (626) 332-8644
Board Certified in Consumer Bankruptcy
American Board of Certification
arry Simons
Sent: Tuesday, February 26, 2013 3:10 PM
To: blc subscriptions
Subject: RE: [cdcbaa] Chapter 7 Trustees Short Selling Houses?
It is happening..in Riverside. I can advise that lenders are approaching trustees about effectuating short sales in certain situations.

esiree Causey
Sent: Tuesday, February 26, 2013 2:54 PM
To: cdcbaa@yahoogroups.com
Subject: [cdcbaa] Chapter 7 Trustees Short Selling Houses?
I have heard stories here and there of Chapter 7 trustees taking houses that are under water, making arrangements with realtors and short selling the property and carving out some money for the unsecureds. My question is: Is this really happening, and if so where and by whom? Or is this a Bankruptcy Urban Legend?
Desiree Causey, Esq.
Law Office of Desiree Causey
17011 Beach Blvd., Suite 900
Huntington Beach, CA 92647
714-375-6663
714-908-7646 (fax)
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Erik,

Let me preface my comments by saying that each trustee looks for different situations. That is some trustees will not short sell a debtor(s) primary residence. Others will not short sale properties where the Debtor(s) are attempting a loan modification.

In my experience banks are encouraging short sales where there is only one loan on the property and the borrower is delinquent. I have not seen that the Debtor(s) intention has come into consideration.

Larry
From: cdcbaa@yahoogroups.com [cdcbaa@yahoogroups.com] on behalf of blc subscriptions [eclark@blclaw.com]
Sent: Tuesday, February 26, 2013 5:20 PM
To: cdcbaa@yahoogroups.com; blc subscriptions
Subject: RE: [cdcbaa] Chapter 7 Trustees Short Selling Houses?

Larry can you elaborate on what the certain situations are? Are there certain fact patterns they are looking for? Is it the underwater and surrendering? Of just underwater?

M. Erik Clark
100 N. Barranca Avenue, Suite 250
West Covina, CA 91791
www.BLClaw.com
Office: (626) 332-8600
Fax: (626) 332-8644
Board Certified in Consumer Bankruptcy
American Board of Certification
From: cdcbaa@yahoogroups.com [mailto:cdcbaa@yahoogroups.com]
On Behalf Of Larry Simons
Sent: Tuesday, February 26, 2013 3:10 PM
To: blc subscriptions
Subject: RE: [cdcbaa] Chapter 7 Trustees Short Selling Houses?

It is happening..in Riverside. I can advise that lenders are approaching trustees about effectuating short sales in certain situations.

< div>
From: cdcbaa@yahoogroups.com [mailto:cdcbaa@yahoogroups.com]
On Behalf Of Desiree Causey
Sent: Tuesday, February 26, 2013 2:54 PM
To: cdcbaa@yahoogroups.com
Subject: [cdcbaa] Chapter 7 Trustees Short Selling Houses?

I have heard stories here and there of Chapter 7 trustees taking houses that are under water, making arrangements with realtors and short selling the property and carving out some money for the unsecureds. My question is: Is this really
happening, and if so where and by whom? Or is this a Bankruptcy Urban Legend?


Desiree Causey, Esq.
Law Office of Desiree Causey
17011 Beach Blvd., Suite 900
Huntington Beach, CA 92647

714-375-6663
714-908-7646 (fax)


#ygrp-mkp {

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Larry can you elaborate on what the "certain situations" are? Are there
certain fact patterns they are looking for? Is it the underwater and
surrendering? Of just underwater?
M. Erik Clark
100 N. Barranca Avenue, Suite 250
West Covina, CA 91791
www.BLClaw.com
Office: (626) 332-8600
Fax: (626) 332-8644
Board Certified in Consumer Bankruptcy
American Board of Certification

The post was migrated from Yahoo.

I would request under which legal principle or law my client has to labor, i.e. sign a new contract, may have liability under hidden hazardous condition
in the house, is there adequate insurance past abandonment of the residence, to many issues for my client to engage in to satisfy creditors we are getting rid of. HENCE A CHAPTER 7!
Involuntary servitude is a United States legal and constitutional term for a person laboring against that person's will to benefit another, under some form of coercion other than the worker's financial needs. While laboring to benefit another occurs also in the condition of slavery, involuntary servitude does not necessarily connote the complete lack of freedom experienced in chattel slavery; involuntary servitude may also refer to other forms of unfree labor. Involuntary servitude is not dependent upon compensation or its amount.
Who else wants kick my client into submiision to get rid of his creditors?
love to hear from all of you, usually I don't bark.
axel
________________________________
To: "cdcbaa@yahoogroups.com"
Sent: Tuesday, February 26, 2013 5:25 PM
Subject: RE: [cdcbaa] Chapter 7 Trustees Short Selling Houses?
It is my understanding that the Chapter 7 Trustees are only doing it in cases where the debtor has indicated an intention to abandon in their Statement of Intentions 521
From:cdcbaa@yahoogroups.com [mailto:cdcbaa@yahoogroups.com] On Behalf Of stephenburtonlaw@yahoo.com
Sent: Tuesday, February 26, 2013 3:22 PM
To: cdcbaa@yahoogroups.com
Subject: Re: [cdcbaa] Chapter 7 Trustees Short Selling Houses?
Just Riverside? Had a consult with one in Beverly Hills.
Sent via BlackBerry by AT&T
________________________________

The post was migrated from Yahoo.

There is a Chapter 7 trustee in Los Angeles who has now incorporated the
"would you consider allowing me to short sale your home" as a question to
debtors who are (a) underwater and (b) not current. I heard him pursue this
line of questioning to a dozen or so debtors at a recent 341a I attended.
Even with my clients, when they said they intended to let their home go into
foreclosure (statement of intention: not surrender), he was fairly
aggressive in asking them to consider it; he may know a realtor that could
sell it for them.
Hale
_____

The post was migrated from Yahoo.

It is my understanding that the Chapter 7 Trustees are only doing it in cases where the debtor has indicated an intention to abandon in their Statement of Intentions 521

The post was migrated from Yahoo.

It is happening.....in Riverside. I can advise that lenders are approaching trustees about effectuating short sales in certain situations.

The post was migrated from Yahoo.

I have heard stories here and there of Chapter 7 trustees taking houses that
are under water, making arrangements with realtors and short selling the
property and carving out some money for the unsecureds. My question is: Is
this really happening, and if so where and by whom? Or is this a Bankruptcy
Urban Legend?
Desiree Causey, Esq.
Law Office of Desiree Causey
17011 Beach Blvd., Suite 900
Huntington Beach, CA 92647
714-375-6663
714-908-7646 (fax)

The post was migrated from Yahoo.