.jpg)
Reaffirmation and anti-deficiency
I agree with Dennis. SeeCCP 580b Conditions under which deficiency judgment forbidden. The reaffirmed debt arguablydoes not transmute the debt from "a loan which was in fact used to pay all or part of the purchase price of that occupied dwelling." See also CCP 726 "one action" protection of borrower. Nonetheless,weshould resist the pressure from lenders to reaffirm home loans generally. There is no requirement to do so and it creates more work and a risk (however small) that lenders will try to crack open the door on the issue of the debt somehow being transmutted through the process.
Law Offices of Peter M. Lively
Personal Financial Law Center I
11965 Venice Blvd, Suite 301
Los Angeles, CA 90066-3977
310-899-0630
800-307-DEBT (3328)
Fax: 310-899-0632
A-Bankruptcy-Attorney.com
Personal Financial Law Center II
1706 Newport Boulevard, Suite B
Costa Mesa, California 92627-3073
Telephone: 949-650-DEBT(3328)
THIS MESSAGE IS INTENDED ONLY FOR THE USE OF THE INDIVIDUAL OR ENTITY TO WHICH IT IS ADDRESSED, AND MAY CONTAIN INFORMATION THAT IS PRIVILEGED, CONFIDENTIAL AND EXEMPT FROM DISCLOSURE UNDER APPLICABLE LAW. IF THE READER OF THIS MESSAGE IS NOT THE INTENDED RECIPIENT, OR THE EMPLOYEE OR AGENT RESPONSIBLE FOR DELIVERING THE MESSAGE TO THE INTENDED RECIPIENT, YOU ARE HEREBY NOTIFIED THAT ANY DISSEMINATION, DISTRIBUTION OR COPYING OF THIS COMMUNICATION IS STRICTLY PROHIBITED. IF YOU HAVE RECEIVED THIS COMMUNICATION IN ERROR, PLEASE NOTIFY US IMMEDIATELY BY E-MAIL OR BY TELEPHONE. THANK YOU.
________________________________
To: "cdcbaa@yahoogroups.com"
Sent: Tue, January 19, 2010 9:40:04 PM
Subject: Re: [cdcbaa] Reaffirmation and anti-deficiency
Don't think there is any case law on this. Guess no.
Dennis McGoldrick
350 S. Crenshaw Bl., #A207B
Torrance, CA 90503
On Jan 19, 2010, at 9:04 PM, "Matthew Gary Evans" wrote:
>Does reaffirming a mortgage loan on a principal residence waive the anti-deficiency statute in the event of breach and foreclosure?
>
>____________ _________ _________ ______
>Law Office of Matthew Gary Evans
>Matthew Gary Evans, Esq.
>16 North Marengo Avenue, Room 219
>Pasadena, California 91101
>Tel.: (626) 405-9448
>Fax: (626) 768-7565
>Cell: (213) 842-6645
>Email: matthew@matthewgary evanslaw. com
>www.matthewgaryevanslaw.com
>www.matthewgaryevanslaw.net/ Bankruptcy
>please visit my blog at matthewevanslaw. wordpress. com
>
>Member: California State Bar, American Bar Association, Consumer Attorneys Association of Los Angeles, Central District Consumer Bankruptcy Attorneys Association, National Association of Consumer Bankruptcy Attorneys, Pasadena Chamber of Commerce
>
>NOTICE: This message is intended only for the individual named. If you are not the named addressee please do not disseminate, print, or copy this e-mail. Please notify the sender immediately by reply e-mail if you have received this e-mail by mistake and delete this e-mail from your system. Thank you.
>
I agree with Dennis. See CCP 580b Conditions under which deficiency judgment forbidden. The reaffirmed debt arguably does not transmute the debt from "a loan which was in fact used to pay all or part of the purchase price of that occupied dwelling." See also CCP 726 "one action" protection of borrower. Nonetheless, we should resist the pressure from lenders to reaffirm home loans generally. There is no requirement to do so and it creates more work and a risk (however small) that lenders will try to crack open the door on the issue of the debt somehow being transmutted through the process. Peter M. Lively, J.D./M.B.A.Law Offices of Peter M. Lively Personal Financial Law Center I11965 Venice Blvd, Suite 301 Los Angeles, CA 90066-3977 310-899-0630 800-307-DEBT (3328)Fax: 310-899-0632 A-Bankruptcy-Attorney.com
Personal Financial Law Center II1706 Newport Boulevard, Suite BCosta Mesa, California 92627-3073Telephone: 949-650-DEBT(3328)
THIS MESSAGE IS INTENDED ONLY FOR THE USE OF THE INDIVIDUAL OR ENTITY TO WHICH IT IS ADDRESSED, AND MAY CONTAIN INFORMATION THAT IS PRIVILEGED, CONFIDENTIAL AND EXEMPT FROM DISCLOSURE UNDER APPLICABLE LAW. IF THE READER OF THIS MESSAGE IS NOT THE INTENDED RECIPIENT, OR THE EMPLOYEE OR AGENT RESPONSIBLE FOR DELIVERING THE MESSAGE TO THE INTENDED RECIPIENT, YOU ARE HEREBY NOTIFIED THAT ANY DISSEMINATION, DISTRIBUTION OR COPYING OF THIS COMMUNICATION IS STRICTLY PROHIBITED. IF YOU HAVE RECEIVED THIS COMMUNICATION IN ERROR, PLEASE NOTIFY US IMMEDIATELY BY E-MAIL OR BY TELEPHONE. THANK YOU.
From: Dennis McGoldrick <easky1@yahoo.com>To: "cdcbaa@yahoogroups.com" <cdcbaa@yahoogroups.com>Subject: Re: [cdcbaa] Reaffirmation and anti-deficiency
Don't think there is any case law on this. Guess no.Dennis McGoldrick
350 S. Crenshaw Bl., #A207B
Torrance, CA 90503
On Jan 19, 2010, at 9:04 PM, "Matthew Gary Evans" <matthew@matthewgary evanslaw. com> wrote:
Does reaffirming a mortgage loan on a principal residence waive the anti-deficiency statute in the event of breach and foreclosure?
____________ _________ _________ ______
Law Office of Matthew Gary Evans
Matthew Gary Evans, Esq.
16 North Marengo Avenue, Room 219
Pasadena, California 91101
Tel.: (626) 405-9448
Fax: (626) 768-7565
Cell: (213) 842-6645
Email:
The post was migrated from Yahoo.
Doesn't it open up the possibility of a 1099 for cancellation of debt income
if there is a foreclosure sale after the bk? I remember a lengthy
discussion about this last year; Matthew you will probably find it if you
check the archives on the yahoogroup website--maybe 3-4 mos ago.
On Tue, Jan 19, 2010 at 9:40 PM, Dennis McGoldrick wrote:
>
>
> Don't think there is any case law on this. Guess no.
>
> Dennis McGoldrick
> 350 S. Crenshaw Bl., #A207B
> Torrance, CA 90503
>
> On Jan 19, 2010, at 9:04 PM, "Matthew Gary Evans" matthew@matthewgaryevanslaw.com> wrote:
>
>
>
> Does reaffirming a mortgage loan on a principal residence waive the
> anti-deficiency statute in the event of breach and foreclosure?
>
>
>
> ____________________________________
>
> Law Office of Matthew Gary Evans
>
> Matthew Gary Evans, Esq.
>
> 16 North Marengo Avenue, Room 219
>
> Pasadena, California 91101
>
> Tel.: (626) 405-9448
>
> Fax: (626) 768-7565
>
> Cell: (213) 842-6645
>
> Email: matthew@matthewgaryevanslaw.com
>
> www.matthewgaryevan slaw.com
>
> www.matthewgaryevan
> slaw.net/Bankruptcy
>
> please visit my blog at matthewevanslaw.wordpress.com
>
>
>
> Member: California State Bar, American Bar Association, Consumer Attorneys
> Association of Los Angeles, Central District Consumer Bankruptcy Attorneys
> Association, National Association of Consumer Bankruptcy Attorneys, Pasadena
> Chamber of Commerce
>
> NOTICE: This message is intended only for the individual named. If you are
> not the named addressee please do not disseminate, print, or copy this
> e-mail. Please notify the sender immediately by reply e-mail if you have
> received this e-mail by mistake and delete this e-mail from your system.
> Thank you.
>
>
>
>
>
>
Daniela P. Romero
Law Office of Daniela Romero, APLC
1015 N. Lake Ave., Ste. 115
Pasadena, CA 91104
Telephone:626-817-2611
Facsimile: 626-628-1781
email: dromerolaw@gmail.com
NOTICE: This E-mail (including attachments) is covered by the Electronic
Communications Privacy Act, 18 U.S.C. 2510-2521. The information herein
is confidential, privileged & exempt from disclosure under applicable law.
This E-mail (including attachments) are intended solely for the use of the
addressee hereof. If you are not the intended recipient of this message,
you are prohibited from reading, disclosing, reproducing, distributing,
disseminating, or otherwise using this transmission. The originator of this
e-mail and its affiliates do not represent, warrant or guarantee that the
integrity of this communication has been maintained or that this
communication is free of errors, viruses or other defects. Delivery of this
message or any portions herein to any person other than the intended
recipient is not intended to waive any right or privilege. If you have
received this message in error, please promptly notify the sender by e-mail
and immediately delete this message.
To comply with IRS regulations, we advise you that any discussion of Federal
tax issues in this e-mail was not intended or written to be used, and cannot
be used by you, (i) to avoid any penalties imposed under the Internal
Revenue Code or (ii) to promote, market or recommend to another party any
transaction or matter addressed herein.
Doesn't it open up the possibility of a 1099 for cancellation of
debt income if there is a foreclosure sale after the bk? I remember a lengthy discussion about this last year; Matthew you will probably find it if you check the archives on the yahoogroup website--maybe 3-4 mos ago.
On Tue, Jan 19, 2010 at 9:40 PM, Dennis McGoldrick <easky1@yahoo.com> wrote:
Don't think there is any case law on this. Guess no.Dennis McGoldrick350 S. Crenshaw Bl., #A207BTorrance, CA 90503On Jan 19, 2010, at 9:04 PM, "Matthew Gary Evans" <matthew@matthewgaryevanslaw.com> wrote:
Does
reaffirming a mortgage loan on a principal residence waive the anti-deficiency
statute in the event of breach and foreclosure?
____________________________________
Law
Office of Matthew Gary Evans
Matthew
Gary Evans, Esq.
16
North Marengo Avenue, Room 219
Pasadena,
California 91101
Tel.:
(626) 405-9448
Fax:
(626) 768-7565
Cell:
(213) 842-6645
Email:
matthew@matthewgaryevanslaw.com
www.matthewgaryevanslaw.com
www.matthewgaryevanslaw.net/Bankruptcy
please
visit my blog at
The post was migrated from Yahoo.
Don't think there is any case law on this. Guess no.
Dennis McGoldrick
350 S. Crenshaw Bl., #A207B
Torrance, CA 90503
On Jan 19, 2010, at 9:04 PM, "Matthew Gary Evans" wrote:
Does reaffirming a mortgage loan on a principal residence waive the anti-deficiency statute in the event of breach and foreclosure?
____________________________________
Law Office of Matthew Gary Evans
Matthew Gary Evans, Esq.
16 North Marengo Avenue, Room 219
Pasadena, California 91101
Tel.: (626) 405-9448
Fax: (626) 768-7565
Cell: (213) 842-6645
Email: matthew@matthewgaryevanslaw.com
www.matthewgaryevanslaw.com
www.matthewgaryevanslaw.net/Bankruptcy
please visit my blog at matthewevanslaw.wordpress.com
Member: California State Bar, American Bar Association, Consumer Attorneys Association of Los Angeles, Central District Consumer Bankruptcy Attorneys Association, National Association of Consumer Bankruptcy Attorneys, Pasadena Chamber of Commerce
NOTICE: This message is intended only for the individual named. If you are not the named addressee please do not disseminate, print, or copy this e-mail. Please notify the sender immediately by reply e-mail if you have received this e-mail by mistake and delete this e-mail from your system. Thank you.
Don't think there is any case law on this. Guess no.Dennis McGoldrick350 S. Crenshaw Bl., #A207BTorrance, CA 90503On Jan 19, 2010, at 9:04 PM, "Matthew Gary Evans" <matthew@matthewgaryevanslaw.com> wrote:
Does
reaffirming a mortgage loan on a principal residence waive the anti-deficiency
statute in the event of breach and foreclosure?
____________________________________
Law
Office of Matthew Gary Evans
Matthew
Gary Evans, Esq.
16
North Marengo Avenue, Room 219
Pasadena,
California 91101
Tel.:
(626) 405-9448
Fax:
(626) 768-7565
Cell:
(213) 842-6645
Email:
matthew@matthewgaryevanslaw.com
www.matthewgaryevanslaw.com
www.matthewgaryevanslaw.net/Bankruptcy
please
visit my blog at matthewevanslaw.wordpress.com
Member:
California State Bar, American Bar Association, Consumer Attorneys Association
of Los Angeles, Central District Consumer Bankruptcy Attorneys Association,
National Association of Consumer Bankruptcy Attorneys, Pasadena Chamber of
Commerce
NOTICE: This message is intended only for the individual named. If you are not
the named addressee please do not disseminate, print, or copy this e-mail. Please
notify the sender immediately by reply e-mail if you have received this e-mail
by mistake and delete this e-mail from your system. Thank you.
The post was migrated from Yahoo.
Does reaffirming a mortgage loan on a principal residence waive the
anti-deficiency statute in the event of breach and foreclosure?
____________________________________
Law Office of Matthew Gary Evans
Matthew Gary Evans, Esq.
16 North Marengo Avenue, Room 219
Pasadena, California 91101
Tel.: (626) 405-9448
Fax: (626) 768-7565
Cell: (213) 842-6645
Email: matthew@matthewgaryevanslaw.com
www.matthewgaryevanslaw.com
www.matthewgaryevanslaw.net/Bankruptcy
please visit my blog at matthewevanslaw.wordpress.com
Member: California State Bar, American Bar Association, Consumer Attorneys
Association of Los Angeles, Central District Consumer Bankruptcy Attorneys
Association, National Association of Consumer Bankruptcy Attorneys, Pasadena
Chamber of Commerce
NOTICE: This message is intended only for the individual named. If you are
not the named addressee please do not disseminate, print, or copy this
e-mail. Please notify the sender immediately by reply e-mail if you have
received this e-mail by mistake and delete this e-mail from your system.
Thank you.
The post was migrated from Yahoo.