Did you read the note and dead of trust with this creditor to see if they contain such language entitling the creditor to know the buyer's identity? I would understand if this was a loan assumption situation, but not where
the loan is paid off in full. Is the bankruptcy case still open? If itis and you are going to sell property with Court approval, you are going to
need to disclose the buyer anyway. The creditor's attorney seems way offbase, but if you have to disclose the buyers identity anyway what is the harm? Do you think he will intentionally try to sabotage the deal and risk
tort exposure?
Mark T. Jessee
Law Offices of Mark T. Jessee
"A Debt Relief Agency"
50 W. Hillcrest Drive, Suite 200
Thousand Oaks, CA 91360
(805) 497-5868 (805) 497-5864 (Facsimile)
NOTICE TO RECIPIENT: THIS E-MAIL IS MEANT FOR ONLY THE INTENDED RECIPIENTOF THE TRANSMISSION, AND THIS COMMUNICATION IS INTENDED TO BE PRIVILEGED BY
LAW. IF YOU RECEIVED THIS E-MAIL IN ERROR, ANY REVIEW, USE, DISSEMINATION,DISTRIBUTION, OR COPYING OF THIS E-MAIL IS STRICTLY PROHIBITED. PLEASE
NOTIFY US IMMEDIATELY OF THE ERROR BY RETURN E-MAIL AND PLEASE DELETE THISMESSAGE FROM YOUR SYSTEM. THANK YOU IN ADVANCE FOR YOUR COOPERATION.
In a message dated 8/12/2013 2:40:03 P.M. Pacific Daylight Time,
havkinlaw@earthlink.net writes:
This is even getting better. I provided the creditors attorney with a
redacted copy of the purchase agreement of the property to get him to go
away. He is getting fully paid off through the sale. He now claims thatpursuant to the loan documents, he is entitled to know who the buyer is and
if I do not give it to him, he will notice my clients deposition. I
have read numerous loan documents over the years and I have yet to see onewhere a lender is entitled to know who is buyer the property upon which they
have a security interest.
Stella Havkin
jesseelaw@aol.com
Sent: Wednesday, August 07, 2013 12:54 PM
To:
cdcbaa@yahoogroups.com
Subject: Re: [cdcbaa] Standing to stall foreclosure sale
Sounds like he is out of his depth on the definition of fraud too! Peopleborrow money as trustee's of revocable living trusts all the time.
Usually lenders are too lazy to allow them to borrow through the trust (they
don't want to pay a lawyer to review the trust documents) and require theborrowers to reconvey the property back to themselves prior to lending. Then
the borrower is supposed to convey again to themselves as trustee of theirrevocable living trust.
Mark T. Jessee
Law Offices of Mark T. Jessee
"A Debt Relief Agency"
50 W. Hillcrest Drive, Suite 200
Thousand Oaks, CA 91360
(805) 497-5868 (805) 497-5864 (Facsimile)
In a message dated 8/7/2013 12:43:17 P.M. Pacific Daylight Time,
_havkinlaw@earthlink.net_ (mailto:
havkinlaw@earthlink.net) writes:
Thank you. I knew this but he is now claiming bank fraud in taking out theloan in the name if the trust. Good luck in suing my 80 year old debtor.
Sent from my Stella Havkin's IPhone
On Aug 7, 2013, at 8:24 PM,
_jesseelaw@aol.com_ (mailto:
jesseelaw@aol.com) wrote:
Stella:
I presume this is a revocable living trust in CA. If so the creditorrepresentative is clearly out of his/her depth! There is no difference
between an individual debtor and the debtors revocable living trust as to
creditors during the debtors lifetime pursuant to CA Probate Code 18200. CA
Probate Code 18201 makes clear that all of a debtors assets held in a
revocable living trust are eligible for the same exemptions. A debtorrevocable living trust is for the benefit of the debtor during the debtorlifetime, so that property interest is always an asset of the bankruptcy
estate under Section 341(a).
Mark T. Jessee
Law Offices of Mark T. Jessee
"A Debt Relief Agency"
50 W. Hillcrest Drive, Suite 200
Thousand Oaks, CA 91360
(805) 497-5868 (805) 497-5864 (Facsimile)
In a message dated 8/7/2013 11:59:03 A.M. Pacific Daylight Time,
_havkinlaw@earthlink.net_ (mailto:
havkinlaw@earthlink.net) writes:
I am out if town. I need help quickly. A very aggressive creditor. My
debtors hold property in a living trust. The creditor is claiming that Ihave to file a petition for the living trust not just the debtors. I need
law on the fact that the property is property of the Bk estate and any
action taken against the property would be in violation of the automatic stay.
Sent from my Stella Havkin's IPhone
On Aug 7, 2013, at 6:42 PM, cdcbaa wrote:
Sylvia:
The only codebtor stay are in chapters 12 & 13. Foreclosure against
nondebtor would not be stayed in a 7 or an 11, only in 13, and only if codebtor
stay applies.
(a) Except as provided in subsections (b) and (c) of this section, after the order for relief under this chapter, a creditor may not act, or
commence or continue any civil action, to collect all or any part of a consumer
debt of the debtor from any individual that is liable on such debt with the
debtor, or that secured such debt, unless
(1) such individual became liable on or secured such debt in the ordinary course of such individual's business; or
(2) the case is closed, dismissed, or converted to a case under chapter 7or 11 of this title.
(a) Except as provided in subsections (b) and (c) of this section, after the order for relief under this chapter, a creditor may not act, or
commence or continue any civil action, to collect all or any part of a consumer
debt of the debtor from any individual that is liable on such debt with the
debtor, or that secured such debt, unless
(1) such individual became liable on or secured such debt in the ordinary course of such individual's business; or
(2) the case is closed, dismissed, or converted to a case under chapter 7of this title.
Since in the 9th Cir. a residential mortgage is a consumer debt, I would opine the codebtor stay applies.
note, codebtor has no hyphen.
d
Dennis McGoldrick, 350 S. Crenshaw Bl., #A207B, Torrance, Ca 90503
310-328-1001-voice
On Aug 1, 2013, at 1:59 PM, "sbombalier" wrote:
Hello Listserv members:
I need to get your opinion on this. My client is on a mortgage loan, but
title is solely in her parents' names. A foreclosure sale is pending for
early next month.
I read the notice of sale and it refers to the note, having been executedby my client, as the basis for the sale. If my client files for BK, would the filing stay the sale, eventhough she's not on title?
Any input is greatly appreciated, as always.
Silvia
Did you read the note and dead of trust with this creditor to see if they
contain such language entitling the creditor to know the buyer's identity?
I would understand if this was a loan assumption situation, but not where the
loan is paid off in full. Is the bankruptcy case still open?
If it is and you are going to sell property with Court approval, you are going
to need to disclose the buyer anyway. The creditor's attorney seems way
off base, but if you have to disclose the buyers identity anyway what is the
harm? Do you think he will intentionally try to sabotage the
deal and risk tort exposure?
Mark T.
JesseeLaw Offices of Mark T. Jessee"A Debt Relief Agency"50 W.Hillcrest Drive, Suite 200Thousand Oaks, CA 91360(805) 497-5868 (805)
497-5864 (Facsimile)NOTICE TO RECIPIENT: THIS E-MAIL IS MEANT FOR ONLY
THE INTENDED RECIPIENT OF THE TRANSMISSION, AND THIS COMMUNICATION IS INTENDED
TO BE PRIVILEGED BY LAW. IF YOU RECEIVED THIS E-MAIL IN ERROR, ANY REVIEW, USE,
DISSEMINATION, DISTRIBUTION, OR COPYING OF THIS E-MAIL IS STRICTLY PROHIBITED.
PLEASE NOTIFY US IMMEDIATELY OF THE ERROR BY RETURN E-MAIL AND PLEASE DELETE
THIS MESSAGE FROM YOUR SYSTEM. THANK YOU IN ADVANCE FOR YOUR COOPERATION.
In a message dated 8/12/2013 2:40:03 P.M. Pacific Daylight Time,
havkinlaw@earthlink.net writes:
This is even
getting better. I provided the creditors attorney with a redacted copy
of the purchase agreement of the property to get him to go away. He is
getting fully paid off through the sale. He now claims that
pursuant to the loan documents, he is entitled to know who the buyer is and
if I do not give it to him, he will notice my clients deposition.
I have read numerous loan documents over the years and I have yet to see
one where a lender is entitled to know who is buyer the property upon which
they have a security interest.
Stella
Havkin
From:
cdcbaa@yahoogroups.com
[mailto:
cdcbaa@yahoogroups.com] On Behalf Of
jesseelaw@aol.comSent: Wednesday, August 07, 2013 12:54
PMTo:
cdcbaa@yahoogroups.comSubject: Re: [cdcbaa]
Standing to stall foreclosure sale
Sounds like he
is out of his depth on the definition of fraud too! People borrow money
as trustee's of revocable living trusts all the time. Usually lenders are too lazy to allow them to borrow through the trust (they don't
want to pay a lawyer to review the trust documents) and require the borrowers
to reconvey the property back to themselves prior to lending. Then the
borrower is supposed to convey again to themselves as trustee of their
revocable living trust.
Mark T.
JesseeLaw Offices of Mark T. Jessee"A Debt Relief Agency"50 W.
Hillcrest Drive, Suite 200Thousand Oaks, CA 91360(805) 497-5868 (805)
497-5864 (Facsimile)
In a message
dated 8/7/2013 12:43:17 P.M. Pacific Daylight Time,
The post was migrated from Yahoo.