Central District Consumer Bankruptcy Attorney's Association

Hi,
I had a client with a 250K 2nd released. Only about 175K was secured. Some creditors were informed that client had retained a bk attorney before the forgiveness.
Now client wants to try to modify the 1st before filing Bk
Sina.
________________________________
To: cdcbaa@yahoogroups.com
Sent: Monday, September 24, 2012 11:25 AM
Subject: Re: [cdcbaa] Bank of America Forgiveness on HELOCS
Mine is an active chapter 13. Offer received after 2nd DOT had been avoided via LAM.
Unfortunately, it's Judge Johnson so if I have to take anything to the judge, it will probably go the wrong way.
On Sun, Sep 23, 2012 at 6:19 PM, Jim Selth wrote:
>
>
>So far two of our clients have received such a letter on 2nd TD loans, both before any bankruptcy filing. One from Chase and one from BofA. Both letters say the lien will be released. Interestingly, the Chase loan was totally under water but the BofA 2nd was fully secured.
>
>
>Sent from my Verizon Wireless 4G LTE DROID
>
>blc subscriptions wrote:
>
>
>
>If you have a client that receives one of these on a 2nd that was already wiped out please let me know. I have been asked to look for this scenario.
>
>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 Kirk Brennan
>Sent: Saturday, September 22, 2012 9:03 AM
>To: blc subscriptions
>Subject: Re: [cdcbaa] Bank of America Forgiveness on HELOCS
>
>
>Right, they get credit towards compliance on the settlement, and forgive 2nds that are avoided via LAMs anyways.
>On Sep 21, 2012 4:45 PM, "Christine Wilton" wrote:
>
>This is likely per the AG Settlement. I've seen Chase do this on their Helocs and it takes time to get that lien released.
>
>Christine
>On Fri, Sep 21, 2012 at 4:43 PM, Larry Webb wrote:
>
>I have one client email re the same.
>Larry Webb
>On Sep 21, 2012 2:38 PM, "Kenneth Schwartz" wrote:
>
>I have just had 3 separate clients forward me letters from Bank of America stating that the Bank has approved full principal forgiveness on their HELOCs. Typical Bank of America, no contact person or address for correspondence given, and the usual voice-tree telephone number that gets you nowhere. My question, what about the recoveyance of the deeds of trust? No mention is made of that in the letters. Is this merely in personam relief? If so, big deal. My clients' BKs already achieved that.
>
>
>
>--
>Christine A. Wilton, Esq.
>Law Office of Christine A. Wilton
>
>Office:
>5150 Candlewood Street, Suite 17F
>Lakewood, CA 90712
>
>Mailing:
>4067 Hardwick Street, Suite 335
>Lakewood, CA 90712
>
>Office: 877-631-2220
>Cell: 562-824-7563
>Fax: 1-636-212-7078
>Email: attorneychristine@gmail.com
>Web: www.attorneychristine.com
>Blog: www.losangelesbankruptcylawmonitor.com
>***************************
>Confidentiality and Privilege. This e-mail message, including attachments, is intended solely for review by the intended recipient(s) and may contain confidential and privileged information. Any unauthorized review, use, disclosure, or distribution is prohibited. Review by anyone other than the intended recipient(s) shall not constitute a waiver of any ATTORNEY-CLIENT PRIVILEGE or ATTORNEY WORK PRODUCT PROTECTION that may apply to this communication. If you are not the intended recipient, please contact the sender by return e-mail and destroy all copies of the original message.
>
>Tax Advice Disclosure. Any tax information or written tax advice contained in this email message, including attachments, is not intended to and cannot be used by any taxpayer for the purpose of avoiding tax penalties that may be imposed on the taxpayer. (The
foregoing legend has been affixed pursuant to U.S. Treasury Regulations governing tax practice.)
>
Kirk Brennan, esq.
California Law Office, P.C.
www.calibankruptcysite.com
CONFIDENTIALITY NOTICE: This e-mail and any attachments are for the exclusive and confidential use of the intended recipient. If you are not the intended recipient, please do not read, distribute or take action in reliance on this message. If you have received this message in error, please notify us immediately by return e-mail and promptly delete this message and its attachments from your computer system. We do not waive attorney-client or work product privilege by the transmission of this message.
TAX ADVICE NOTICE: Tax advice, if any, contained in this e-mail does not constitute a "reliance opinion" as defined in IRS Circular 230 and may not be used to establish reasonable reliance on the opinion of counsel for the purpose of avoiding the penalty imposed by Section 6662A of the Internal Revenue Code. The firm provides reliance opinions only in formal opinion letters containing the signature of a director.

The post was migrated from Yahoo.

Mine is an active chapter 13. Offer received after 2nd DOT had been
avoided via LAM.
Unfortunately, it's Judge Johnson so if I have to take anything to the
judge, it will probably go the wrong way.
On Sun, Sep 23, 2012 at 6:19 PM, Jim Selth wrote:
> **
>
>
> **
> So far two of our clients have received such a letter on 2nd TD loans,
> both before any bankruptcy filing. One from Chase and one from BofA. Both
> letters say the lien will be released. Interestingly, the Chase loan was
> totally under water but the BofA 2nd was fully secured.
>
> *Sent from my Verizon Wireless 4G LTE DROID*
>
>
> blc subscriptions wrote:
>
>
>
> If you have a client that receives one of these on a 2nd that was
> already wiped out please let me know. I have been asked to look for this
> scenario.****
>
> ** **
>
> M. Erik Clark
> [image: BCLogoSmall]
> 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 *Kirk Brennan
> *Sent:* Saturday, September 22, 2012 9:03 AM
> *To:* blc subscriptions
> *Subject:* Re: [cdcbaa] Bank of America Forgiveness on HELOCS****
>
> ** **
>
> ****
>
> Right, they get credit towards compliance on the settlement, and forgive
> 2nds that are avoided via LAMs anyways. ****
>
> On Sep 21, 2012 4:45 PM, "Christine Wilton"
> wrote:****
>
> ****
>
> This is likely per the AG Settlement. I've seen Chase do this on their
> Helocs and it takes time to get that lien released.
>
> Christine****
>
> On Fri, Sep 21, 2012 at 4:43 PM, Larry Webb wrote:***
> *
>
> ****
>
> I have one client email re the same.****
>
> Larry Webb****
>
> On Sep 21, 2012 2:38 PM, "Kenneth Schwartz"
> wrote:****
>
> ****
>
> I have just had 3 separate clients forward me letters from Bank of America
> stating that the Bank has approved full principal forgiveness on their
> HELOCs. Typical Bank of America, no contact person or address for
> correspondence given, and the usual voice-tree telephone number that gets
> you nowhere. My question, what about the recoveyance of the deeds of trust?
> No mention is made of that in the letters. Is this merely in personam
> relief? If so, big deal. My clients' BKs already achieved that.****
>
>
>
>
> --
> Christine A. Wilton, Esq.
> Law Office of Christine A. Wilton
>
> *Office:*
> 5150 Candlewood Street, Suite 17F
> Lakewood, CA 90712
>
> *Mailing:*
> 4067 Hardwick Street, Suite 335
> Lakewood, CA 90712
>
> Office: 877-631-2220
> Cell: 562-824-7563
> Fax: 1-636-212-7078
> Email: attorneychristine@gmail.com
> Web: www.attorneychristine.com
> Blog: www.losangelesbankruptcylawmonitor.com
> ***************************
> Confidentiality and Privilege. This e-mail message, including attachments,
> is intended solely for review by the intended recipient(s) and may contain
> confidential and privileged information. Any unauthorized review, use,
> disclosure, or distribution is prohibited. Review by anyone other than the
> intended recipient(s) shall not constitute a waiver of any ATTORNEY-CLIENT
> PRIVILEGE or ATTORNEY WORK PRODUCT PROTECTION that may apply to this
> communication. If you are not the intended recipient, please contact the
> sender by return e-mail and destroy all copies of the original message.
>
> Tax Advice Disclosure. Any tax information or written tax advice contained
> in this email message, including attachments, is not intended to and cannot
> be used by any taxpayer for the purpose of avoiding tax penalties that may
> be imposed on the taxpayer. (The foregoing legend has been affixed pursuant
> to U.S. Treasury Regulations governing tax practice.) ****
>
> ** **
>
> ****
>
>
>
Kirk Brennan, esq.
California Law Office, P.C.
www.calibankruptcysite.com
CONFIDENTIALITY NOTICE: This e-mail and any attachments are for the
exclusive and confidential use of the intended recipient. If you are not
the intended recipient, please do not read, distribute or take action in
reliance on this message. If you have received this message in error,
please notify us immediately by return e-mail and promptly delete this
message and its attachments from your computer system. We do not waive
attorney-client or work product privilege by the transmission of this
message.
TAX ADVICE NOTICE: Tax advice, if any, contained in this e-mail does not
constitute a "reliance opinion" as defined in IRS Circular 230 and may not
be used to establish reasonable reliance on the opinion of counsel for the
purpose of avoiding the penalty imposed by Section 6662A of the Internal
Revenue Code. The firm provides reliance opinions only in formal opinion
letters containing the signature of a director.
Mine is an active chapter 13. Offer received after 2nd DOT had been avoided via LAM. Unfortunately, it's Judge Johnson so if I have to take anything to the judge, it will probably go the wrong way.
On Sun, Sep 23, 2012 at 6:19 PM, Jim Selth <jim@wsrlaw.net> wrote:
So far two of our clients have received such a letter on 2nd TD loans, both before any bankruptcy filing. One from Chase and one from BofA. Both letters say the lien will be released. Interestingly, the Chase loan was totally under water but the BofA 2nd
was fully secured.
Sent from my Verizon Wireless 4G LTE DROID
blc subscriptions <eclark@blclaw.com> wrote:
If you have a client that receives one of these on a 2nd that was already wiped out please let me know. I have been asked to look for this scenario.
M. Erik Clark
100 N. Barranca Avenue, Suite 250
West Covina, CA 91791

The post was migrated from Yahoo.

So far two of our clients have received such a letter on 2nd TD loans, both before any bankruptcy filing. One from Chase and one from BofA. Both letters say the lien will be released. Interestingly, the Chase loan was totally under water but the BofA 2nd was fully secured.
Sent from my Verizon Wireless 4G LTE DROID
blc subscriptions wrote:
If you have a client that receives one of these on a 2nd that was already wiped out please let me know. I have been asked to look for this scenario.
M. Erik Clark
[cid:image001.jpg@01CD98BB.55BFEC80]
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.

Thanks Nick
My gut reaction is that B of A is probably only offering half a loaf, and that
we will have to follow matters up to see that the liens are released. A bit
harder to do in a typical no asset 7.
Kenneth Jay Schwartz, Esq.
LAW OFFICE OF KENNETH JAY SCHWARTZ
21031 Ventura Boulevard, Suite 640
Woodland Hills, California 91364-2226
Telephone: (818) 226-1205
Facsimile : (818) 226-1213
THE INFORMATION CONTAINED IN THIS E-MAIL IS INTENDED ONLY FOR THE PERSONAL AND
CONFIDENTIAL USE OF THE DESIGNATED RECIPIENT(S) NAMED ABOVE. THIS MESSAGE MAY
BE AN ATTORNEY-CLIENT COMMUNICATION, AND, AS SUCH, IS PRIVILEGED AND
CONFIDENTIAL. IF THE READER OF THIS MESSAGE IS NOT THE INTENDED RECIPIENT OR AN
AGENT RESPONSIBLE FOR DELIVERING IT TO THE DESIGNATED RECIPIENT, YOU ARE HEREBY
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THANK YOU.
________________________________
To: "cdcbaa@yahoogroups.com"
Cc: "ngebelt@goodbye2debt.com"
Sent: Sat, September 22, 2012 7:30:16 PM
Subject: RE: [cdcbaa] Bank of America Forgiveness on HELOCS
Dear Kenneth, et al.,
I had the following frustrating situation with Ocwen (motto: We screw
homeowners faster, and in more ways than you can imagine) in a Chapter 13
case. I filed the case in January. A few days before the 341 meeting inMarch, Litton sent my client a 1099-C, stating that the second had been
cancelled. I called Ocwen (Ocwen bought Litton in June 2011) and asked them to
remove the lien. They admitted that they had received the tax benefit of the
write-off, and admitted that the balance was zero, but refused to remove the
lien. Instead they offered to negotiate a payment schedule.
I filed an unusual Lam motion in that I asked Judge Bason to find the balance to
be zero and issue an order immediately avoiding the lien rather than have
avoidance take effect upon discharge. He did. A few weeks later Ocwen filed a
proof of claim for the entire $64,000 balance, plus interest and penalties.Filed claims are deemed allowed unless the debtor objects ( 502(a)), so I had
to file an objection. Judge Bason denied the claim.
I filed a motion for sanctions under Rule 9011, and set the hearing for a month
later (more than the 21 days safe harbor). Based on a district court case Judge
Bason denied my motion without prejudice, stating that the safe harbor mustprecede the setting for hearing, and instructed me to first file and serve the
motion without setting it for hearing, wait 21 days, and then if Ocwen doesnt
withdraw the proof of claim (which Judge Bason has already denied) refile it
and set it for a hearing. Oy vey.
The relevance to this thread is this: just because B of A has cancelled the
debt does not mean that the lien has been removed. You may have to take extra
steps to take care of that.
Finally, as for the 1099-C issue, 26 U.S.C. 108(a) has five carve-outs that
may help your clients in dealing with potential cancellation of debt taxation.
If you filed the bankruptcy case before the debt was cancelled, and the debtor
receives a discharge, then the first carve-out (debt was discharged in a title
11 case) should do the trick. The second the insolvency carve-out might
help, but send the debtor to a tax professional rather than incur potentialliability. And the fifth carve-out cancellation of qualified principal
residence indebtedness might also prove useful if the debt is cancelled
before January 1, 2013, and if it was either the original purchase money debt or
a refinancing in which every penny was used for capital improvements on thehome. Thus, the fact that B of A is sending these notices out before theJanuary 1 sunset date may actually be very helpful to your clients.
Nick
Nicholas Gebelt, Ph.D., J.D.
Board Certified Bankruptcy Specialist
Law Offices of Nicholas Gebelt
15150 Hornell Street
Whittier, CA 90604
Phone: 562.777.9159
FAX: 562.946.1365
Email: ngebelt@goodbye2debt.com; ngebelt@gebeltlaw.com
Web: www.goodbye2debt.com
Blog: www.southerncaliforniabankruptcylawblog.com/
We are a debt relief agency. We help people file for bankruptcy relief under
the Bankruptcy Code.
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party any transaction or matter addressed herein.
From:cdcbaa@yahoogroups.com [mailto:cdcbaa@yahoogroups.com] On Behalf Of Kenneth
Jay Schwartz
Sent: Saturday, September 22, 2012 6:52 PM
To: cdcbaa@yahoogroups.com
Subject: Re: [cdcbaa] Bank of America Forgiveness on HELOCS
Interesting. The Bank of America letters just inform the clients that unless
they contact the Bank, the debt will be forgiven after 30 days. So, I am
guessing that once that period time passes (and then some more for processing),
they will be sent the reconveyances. Typical B of A---no contact or department
information given except for an 800 number
Kenneth Jay Schwartz, Esq.
LAW OFFICE OF KENNETH JAY SCHWARTZ
21031 Ventura Boulevard, Suite 640
Woodland Hills, California 91364-2226
Telephone: (818) 226-1205
Facsimile : (818) 226-1213
THE INFORMATION CONTAINED IN THIS E-MAIL IS INTENDED ONLY FOR THE PERSONAL AND
CONFIDENTIAL USE OF THE DESIGNATED RECIPIENT(S) NAMED ABOVE. THIS MESSAGE MAY BE
AN ATTORNEY-CLIENT COMMUNICATION, AND, AS SUCH, IS PRIVILEGED AND CONFIDENTIAL.
IF THE READER OF THIS MESSAGE IS NOT THE INTENDED RECIPIENT OR AN AGENT
RESPONSIBLE FOR DELIVERING IT TO THE DESIGNATED RECIPIENT, YOU ARE HEREBY
NOTIFIED THAT YOU HAVE RECEIVED THIS E-MAIL IN ERROR, AND THAT ANY REVIEW,DISSEMINATION, DISTRIBUTION OR COPYING OF THIS MESSAGE IS STRICTLY PROHIBITED.
IF YOU HAVE RECEIVED THIS COMMUNICATION IN ERROR, PLEASE NOTIFY US IMMEDIATELY.
THANK YOU.
________________________________
From:"havkinlaw@earthlink.net"
To: cdcbaa@yahoogroups.com
Sent: Sat, September 22, 2012 6:46:46 PM
Subject: Re: [cdcbaa] Bank of America Forgiveness on HELOCS
Clients got the letters. Signed them and received the reconveyances. This has
also happened with Chase and Indymac.
Sent from my Verizon Wireless BlackBerry
Sender: cdcbaa@yahoogroups.com
Date: Sat, 22 Sep 2012 18:30:36
To:
Reply-To: cdcbaa@yahoogroups.com
Subject: Re: [cdcbaa] Bank of America Forgiveness on HELOCS
Stella,
What did you receive, 2 lien releases (reconveyances)? Did they come
automatically after the letter informing your clients of the loan forgiveness,
or did you have to contact them?
Kenneth Jay Schwartz, Esq.
LAW OFFICE OF KENNETH JAY SCHWARTZ
21031 Ventura Boulevard, Suite 640
Woodland Hills, California 91364-2226
Telephone: (818) 226-1205
Facsimile : (818) 226-1213
THE INFORMATION CONTAINED IN THIS E-MAIL IS INTENDED ONLY FOR THE PERSONAL AND
CONFIDENTIAL USE OF THE DESIGNATED RECIPIENT(S) NAMED ABOVE. THIS MESSAGE MAY
BE AN ATTORNEY-CLIENT COMMUNICATION, AND, AS SUCH, IS PRIVILEGED AND
CONFIDENTIAL. IF THE READER OF THIS MESSAGE IS NOT THE INTENDED RECIPIENT OR AN
AGENT RESPONSIBLE FOR DELIVERING IT TO THE DESIGNATED RECIPIENT, YOU ARE HEREBY
NOTIFIED THAT YOU HAVE RECEIVED THIS E-MAIL IN ERROR, AND THAT ANY REVIEW,DISSEMINATION, DISTRIBUTION OR COPYING OF THIS MESSAGE IS STRICTLY PROHIBITED.
IF YOU HAVE RECEIVED THIS COMMUNICATION IN ERROR, PLEASE NOTIFY US IMMEDIATELY.
THANK YOU.
________________________________
To: cdcbaa@yahoogroups.com
Sent: Sat, September 22, 2012 2:57:56 PM
Subject: Re: [cdcbaa] Bank of America Forgiveness on HELOCS
They are. I got two in the past two months.
Sent from my Verizon Wireless BlackBerry
________________________________

The post was migrated from Yahoo.

Interesting. The Bank of America letters just inform the clients that unless
they contact the Bank, the debt will be forgiven after 30 days. So, I am
guessing that once that period time passes (and then some more for processing),
they will be sent the reconveyances. Typical B of A---no contact or department
information given except for an 800 number
Kenneth Jay Schwartz, Esq.
LAW OFFICE OF KENNETH JAY SCHWARTZ
21031 Ventura Boulevard, Suite 640
Woodland Hills, California 91364-2226
Telephone: (818) 226-1205
Facsimile : (818) 226-1213
THE INFORMATION CONTAINED IN THIS E-MAIL IS INTENDED ONLY FOR THE PERSONAL AND
CONFIDENTIAL USE OF THE DESIGNATED RECIPIENT(S) NAMED ABOVE. THIS MESSAGE MAY
BE AN ATTORNEY-CLIENT COMMUNICATION, AND, AS SUCH, IS PRIVILEGED AND
CONFIDENTIAL. IF THE READER OF THIS MESSAGE IS NOT THE INTENDED RECIPIENT OR AN
AGENT RESPONSIBLE FOR DELIVERING IT TO THE DESIGNATED RECIPIENT, YOU ARE HEREBY
NOTIFIED THAT YOU HAVE RECEIVED THIS E-MAIL IN ERROR, AND THAT ANY REVIEW,DISSEMINATION, DISTRIBUTION OR COPYING OF THIS MESSAGE IS STRICTLY PROHIBITED.
IF YOU HAVE RECEIVED THIS COMMUNICATION IN ERROR, PLEASE NOTIFY US IMMEDIATELY.
THANK YOU.
________________________________
To: cdcbaa@yahoogroups.com
Sent: Sat, September 22, 2012 6:46:46 PM
Subject: Re: [cdcbaa] Bank of America Forgiveness on HELOCS
Clients got the letters. Signed them and received the reconveyances. This has
also happened with Chase and Indymac.
Sent from my Verizon Wireless BlackBerry
Sender: cdcbaa@yahoogroups.com
Date: Sat, 22 Sep 2012 18:30:36
To:
Reply-To: cdcbaa@yahoogroups.com
Subject: Re: [cdcbaa] Bank of America Forgiveness on HELOCS
Stella,
What did you receive, 2 lien releases (reconveyances)? Did they come
automatically after the letter informing your clients of the loan forgiveness,
or did you have to contact them?
Kenneth Jay Schwartz, Esq.
LAW OFFICE OF KENNETH JAY SCHWARTZ
21031 Ventura Boulevard, Suite 640
Woodland Hills, California 91364-2226
Telephone: (818) 226-1205
Facsimile : (818) 226-1213
THE INFORMATION CONTAINED IN THIS E-MAIL IS INTENDED ONLY FOR THE PERSONAL AND
CONFIDENTIAL USE OF THE DESIGNATED RECIPIENT(S) NAMED ABOVE. THIS MESSAGE MAY
BE AN ATTORNEY-CLIENT COMMUNICATION, AND, AS SUCH, IS PRIVILEGED AND
CONFIDENTIAL. IF THE READER OF THIS MESSAGE IS NOT THE INTENDED RECIPIENT OR AN
AGENT RESPONSIBLE FOR DELIVERING IT TO THE DESIGNATED RECIPIENT, YOU ARE HEREBY
NOTIFIED THAT YOU HAVE RECEIVED THIS E-MAIL IN ERROR, AND THAT ANY REVIEW,DISSEMINATION, DISTRIBUTION OR COPYING OF THIS MESSAGE IS STRICTLY PROHIBITED.
IF YOU HAVE RECEIVED THIS COMMUNICATION IN ERROR, PLEASE NOTIFY US IMMEDIATELY.
THANK YOU.
________________________________
To: cdcbaa@yahoogroups.com
Sent: Sat, September 22, 2012 2:57:56 PM
Subject: Re: [cdcbaa] Bank of America Forgiveness on HELOCS
They are. I got two in the past two months.
Sent from my Verizon Wireless BlackBerry
________________________________

The post was migrated from Yahoo.

Stella,
What did you receive, 2 lien releases (reconveyances)? Did they come
automatically after the letter informing your clients of the loan forgiveness,
or did you have to contact them?
Kenneth Jay Schwartz, Esq.
LAW OFFICE OF KENNETH JAY SCHWARTZ
21031 Ventura Boulevard, Suite 640
Woodland Hills, California 91364-2226
Telephone: (818) 226-1205
Facsimile : (818) 226-1213
THE INFORMATION CONTAINED IN THIS E-MAIL IS INTENDED ONLY FOR THE PERSONAL AND
CONFIDENTIAL USE OF THE DESIGNATED RECIPIENT(S) NAMED ABOVE. THIS MESSAGE MAY
BE AN ATTORNEY-CLIENT COMMUNICATION, AND, AS SUCH, IS PRIVILEGED AND
CONFIDENTIAL. IF THE READER OF THIS MESSAGE IS NOT THE INTENDED RECIPIENT OR AN
AGENT RESPONSIBLE FOR DELIVERING IT TO THE DESIGNATED RECIPIENT, YOU ARE HEREBY
NOTIFIED THAT YOU HAVE RECEIVED THIS E-MAIL IN ERROR, AND THAT ANY REVIEW,DISSEMINATION, DISTRIBUTION OR COPYING OF THIS MESSAGE IS STRICTLY PROHIBITED.
IF YOU HAVE RECEIVED THIS COMMUNICATION IN ERROR, PLEASE NOTIFY US IMMEDIATELY.
THANK YOU.
________________________________
To: cdcbaa@yahoogroups.com
Sent: Sat, September 22, 2012 2:57:56 PM
Subject: Re: [cdcbaa] Bank of America Forgiveness on HELOCS
They are. I got two in the past two months.
Sent from my Verizon Wireless BlackBerry
________________________________

The post was migrated from Yahoo.

In my 3 cases, the clients had been in Chapter 7. The notices came AFTER the
cases were filed. So, unless the liens are also being released, it is no big
deal to the clients.
Kenneth Jay Schwartz, Esq.
LAW OFFICE OF KENNETH JAY SCHWARTZ
21031 Ventura Boulevard, Suite 640
Woodland Hills, California 91364-2226
Telephone: (818) 226-1205
Facsimile : (818) 226-1213
THE INFORMATION CONTAINED IN THIS E-MAIL IS INTENDED ONLY FOR THE PERSONAL AND
CONFIDENTIAL USE OF THE DESIGNATED RECIPIENT(S) NAMED ABOVE. THIS MESSAGE MAY
BE AN ATTORNEY-CLIENT COMMUNICATION, AND, AS SUCH, IS PRIVILEGED AND
CONFIDENTIAL. IF THE READER OF THIS MESSAGE IS NOT THE INTENDED RECIPIENT OR AN
AGENT RESPONSIBLE FOR DELIVERING IT TO THE DESIGNATED RECIPIENT, YOU ARE HEREBY
NOTIFIED THAT YOU HAVE RECEIVED THIS E-MAIL IN ERROR, AND THAT ANY REVIEW,DISSEMINATION, DISTRIBUTION OR COPYING OF THIS MESSAGE IS STRICTLY PROHIBITED.
IF YOU HAVE RECEIVED THIS COMMUNICATION IN ERROR, PLEASE NOTIFY US IMMEDIATELY.
THANK YOU.
________________________________
To: "cdcbaa@yahoogroups.com"
Sent: Sat, September 22, 2012 1:24:04 PM
Subject: Re: [cdcbaa] Bank of America Forgiveness on HELOCS
Are these notices being sent to debtors who have already stripped a junior lien
and are still in an active 13/11?

The post was migrated from Yahoo.

Eric,
Is the bank reconveying the deeds of trust that secured the HELOCs when they
forgive the notes?
Kenneth Jay Schwartz, Esq.
LAW OFFICE OF KENNETH JAY SCHWARTZ
21031 Ventura Boulevard, Suite 640
Woodland Hills, California 91364-2226
Telephone: (818) 226-1205
Facsimile : (818) 226-1213
THE INFORMATION CONTAINED IN THIS E-MAIL IS INTENDED ONLY FOR THE PERSONAL AND
CONFIDENTIAL USE OF THE DESIGNATED RECIPIENT(S) NAMED ABOVE. THIS MESSAGE MAY
BE AN ATTORNEY-CLIENT COMMUNICATION, AND, AS SUCH, IS PRIVILEGED AND
CONFIDENTIAL. IF THE READER OF THIS MESSAGE IS NOT THE INTENDED RECIPIENT OR AN
AGENT RESPONSIBLE FOR DELIVERING IT TO THE DESIGNATED RECIPIENT, YOU ARE HEREBY
NOTIFIED THAT YOU HAVE RECEIVED THIS E-MAIL IN ERROR, AND THAT ANY REVIEW,DISSEMINATION, DISTRIBUTION OR COPYING OF THIS MESSAGE IS STRICTLY PROHIBITED.
IF YOU HAVE RECEIVED THIS COMMUNICATION IN ERROR, PLEASE NOTIFY US IMMEDIATELY.
THANK YOU.
________________________________
To: cdcbaa@yahoogroups.com
Sent: Sat, September 22, 2012 12:11:05 PM
Subject: RE: [cdcbaa] Bank of America Forgiveness on HELOCS
If you have a client that receives one of these on a 2nd that was already wiped
out please let me know. I have been asked to look for this scenario.
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 Kirk
Brennan
Sent: Saturday, September 22, 2012 9:03 AM
To: blc subscriptions
Subject: Re: [cdcbaa] Bank of America Forgiveness on HELOCS
Right, they get credit towards compliance on the settlement, and forgive 2nds
that are avoided via LAMs anyways.
On Sep 21, 2012 4:45 PM, "Christine Wilton" wrote:
This is likely per the AG Settlement. I've seen Chase do this on their Helocs
and it takes time to get that lien released.
Christine
On Fri, Sep 21, 2012 at 4:43 PM, Larry Webb wrote:
I have one client email re the same.
Larry Webb
On Sep 21, 2012 2:38 PM, "Kenneth Schwartz" wrote:
I have just had 3 separate clients forward me letters from Bank of Americastating that the Bank has approved full principal forgiveness on their HELOCs.
Typical Bank of America, no contact person or address for correspondence given,
and the usual voice-tree telephone number that gets you nowhere. My question,
what about the recoveyance of the deeds of trust? No mention is made of that in
the letters. Is this merely in personam relief? If so, big deal. My clients' BKs
already achieved that.
Christine A. Wilton, Esq.
Law Office of Christine A. Wilton
Office:
5150 Candlewood Street, Suite 17F
Lakewood, CA 90712
Mailing:
4067 Hardwick Street, Suite 335
Lakewood, CA 90712
Office: 877-631-2220
Cell: 562-824-7563
Fax: 1-636-212-7078
Email: attorneychristine@gmail.com
Web: www.attorneychristine.com
Blog: www.losangelesbankruptcylawmonitor.com
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Eric,Is the bank reconveying the deeds of trust that secured the HELOCs when they forgive the notes? Kenneth Jay Schwartz, Esq.LAW OFFICE OF KENNETH JAY SCHWARTZ21031 Ventura Boulevard, Suite 640Woodland Hills, California 91364-2226Telephone: (818) 226-1205Facsimile : (818) 226-1213THE INFORMATION CONTAINED IN THIS E-MAIL IS INTENDED ONLY FOR THE PERSONAL AND CONFIDENTIAL USE OF THE DESIGNATED RECIPIENT(S) NAMED ABOVE. THIS MESSAGE MAY BE AN ATTORNEY-CLIENT COMMUNICATION, AND, AS SUCH, IS PRIVILEGED AND CONFIDENTIAL. IF THE READER OF THIS MESSAGE IS NOT THE INTENDED RECIPIENT OR AN AGENT RESPONSIBLE FOR DELIVERING IT TO THE DESIGNATED RECIPIENT, YOU ARE HEREBY NOTIFIED THAT YOU HAVE RECEIVED THIS E-MAIL
IN ERROR, AND THAT ANY REVIEW, DISSEMINATION, DISTRIBUTION OR COPYING OF THIS MESSAGE IS STRICTLY PROHIBITED. IF YOU HAVE RECEIVED THIS COMMUNICATION IN ERROR, PLEASE NOTIFY US IMMEDIATELY. THANK YOU.From: blc subscriptions <eclark@blclaw.com>To: cdcbaa@yahoogroups.comSent: Sat, September 22, 2012 12:11:05 PMSubject: RE: [cdcbaa] Bank of America Forgiveness on HELOCS


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If you have a client that receives one of these on a 2nd that was
already wiped out please let me know. I have been asked to look for
this scenario.
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 spoke with Katie Porter about these and they are legit
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.