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community discharge question/title company
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Pat:
Excellent point. I never noticed that before. Probably true because
pre-petition property acquired from the estate is presumably exempt in any
event.
David A. Tilem
Certified Bankruptcy Specialist*
Law Offices of David A. Tilem (a debt relief agency)
206 N. Jackson Street, #201, Glendale, CA 91206
Tel: 818-507-6000 Fax: 818-507-6800
* Bankruptcy specialist cert. by State Bar of CA Bd of Legal
Specialization.
The post was migrated from Yahoo.
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Lender is wrong, but it's their money. They don't have to lend to anyone
they don't want to. Can't force creditor to give satisfaction of J for
reasons you state. Only hope is to educate lender through loan broker.
David A. Tilem
Certified Bankruptcy Specialist*
Law Offices of David A. Tilem (a debt relief agency)
206 N. Jackson Street, #201, Glendale, CA 91206
Tel: 818-507-6000 Fax: 818-507-6800
* Bankruptcy specialist cert. by State Bar of CA Bd of Legal
Specialization.
Mark JM
Sent: Friday, March 28, 2008 9:37 AM
To: cdcbaa@yahoogroups.com
Subject: [cdcbaa] community discharge question/title company
Facts: H files bankruptcy and gets a discharge. H&W now want to refinance
their home loan and the lender is demanding a satisfaction of judgment from
one of the creditors before funding the loan. There is (according to the
client) NO lien recorded.
I understand that the debt as to H was discharged and, by virtue of 11 USC
524, the community discharge extends to the wife--as long as they remain
married.
My question is: As far as the lender and title company are concerned, are
they right in insisting on a satisfaction of judgment (which in my opinion
isn't an appropriate thing for the creditor to sign anyway, because the
judgment wasn't satisfied) if the basis for that insistence is that the
discharge as to the wife could disappear if they get divorced in the future?
______________________
Mark J. Markus
Law Office of Mark J. Markus
11684 Ventura Blvd. PMB #403
Studio City, CA 91604-2652
(818)509-1173 (818)509-1460 (fax)
web: http://www.bklaw. com/
This Firm is a Qualified Federal Debt Relief Agency
___________
NOTICE: This Electronic Message contains information from the law office of
Mark J. Markus that may be privileged. The information is intended for the
use of the addressee only. If you are not the addressee, note that any
disclosure, copy, distribution or use of the contents of this message is
prohibited.
IRS CIRCULAR 230 NOTICE: To ensure compliance with requirements imposed by
the IRS, we inform you that any U.S. tax advice contained in this
communication (or in any attachment) is not intended or written to be used,
and cannot be used, for the purpose of (i) avoiding penalties under the
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in any attachment).
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Message
Lender is wrong, but it's
their money. They don't have to lend to anyone they don't want to.
Can't force creditor to give satisfaction of J for reasons you state. Only
hope is to educate lender through loan broker.
David A.
Tilem
Certified Bankruptcy
Specialist*
The post was migrated from Yahoo.
524(a)(3) only applies to CP acquired after the date of filing. If they
owned the house when H filed, it is not protected by the injunction. If W
did not have personal liability for the jmt, then the debt is fully
discharged. If she did, then it seems to me that the creditor can go after
the house unless it is H's SP. If that is so then the title company will
not want to issue insurance. Of course they don't have to follow the law
anyway- if they don't want to insure, they don't have to.
Patrick T. Green, Esq.
Fitzgerald & Green
Attorneys at Law
1010 E. Union Street
Suite 206
Pasadena, CA 91106
Tel: 626-449-8433
Fax: 626-449-0565
pat@fitzgreenlaw.com
The post was migrated from Yahoo.
Mark:
It seems to me that it's probably more of a credit / underwriting issue regarding the wife than a title issue, if in fact there is no lien recorded. Perhaps the lender is relying on the wife's credit to qualify the loan since the husband's is so bad (with the prior bankruptcy), and hers has to be fixed (by satisfying the judgment against her) for them to qualify. And you are right, no creditor I know will sign a "Satisfcation of Judgment" on a discharged debt.
Jim
James R. Selth
Weintraub & Selth, APC
12424 Wilshire Blvd., Suite 1120
Los Angeles, CA 90025
Telephone: (310) 207-1494
Facsimile: (310) 442-0660
E-Mail: jim@wsrlaw.net
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,
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US IMMEDIATELY OF THE ERROR BY RETURN E-MAIL AND PLEASE DELETE THIS
MESSAGE FROM YOUR SYSTEM. THANK YOU IN ADVANCE FOR YOUR COOPERATION.
To:
Sent: 3/28/2008 10:37AM
Subject: [cdcbaa] community discharge question/title company
>> Facts: H files bankruptcy and gets a discharge. H&W now want to refinance their
>> home loan and the lender is demanding a satisfaction of judgment from one of the
>> creditors before funding the loan. There is (according to the client) NO lien recorded.
>>
>> I understand that the debt as to H was discharged and, by virtue of 11 USC 524, the
>> community discharge extends to the wife--as long as they remain married.
>>
>> My question is: As far as the lender and title company are concerned, are they right in
>> insisting on a satisfaction of judgment (which in my opinion isn't an appropriate thing
>> for the creditor to sign anyway, because the judgment wasn't satisfied) if the basis for
>> that insistence is that the discharge as to the wife could disappear if they get divorced
>> in the future?
>>
>>
>> ______________________
>> Mark J. Markus
>> Law Office of Mark J. Markus
>> 11684 Ventura Blvd. PMB #403
>> Studio City, CA 91604-2652
>> (818)509-1173 (818)509-1460 (fax)
>> web: http://www.bklaw.com/
>> This Firm is a Qualified Federal Debt Relief Agency
>> ___________
>> NOTICE: This Electronic Message contains information from the law office of Mark J.
>> Markus that may be privileged. The information is intended for the use of the
>> addressee only. If you are not the addressee, note that any disclosure, copy,
>> distribution or use of the contents of this message is prohibited.
>> IRS CIRCULAR 230 NOTICE: To ensure compliance with requirements imposed by
>> the IRS, we inform you that any U.S. tax advice contained in this communication (or in
>> any attachment) is not intended or written to be used, and cannot be used, for the
>> purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting,
>> marketing or recommending to another party any transaction or matter addressed in
>> this communication (or in any attachment).
>>
Mark:
It seems to me that it's probably more of a credit / underwriting issue regarding the wife than a title issue, if in fact there is no lien recorded. Perhaps the lender is relying on the wife's credit to qualify the loan since the husband's is so bad (with the prior bankruptcy), and hers has to be fixed (by satisfying the judgment against her) for them to qualify. And you are right, no creditor I know will sign a "Satisfcation of Judgment" on a discharged debt.
Jim
James R. Selth
Weintraub & Selth, APC
12424 Wilshire Blvd., Suite 1120
Los Angeles, CA 90025
Telephone: (310) 207-1494
Facsimile: (310) 442-0660
E-Mail: jim@wsrlaw.net
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.
--- Original Message---
To:
Sent: 3/28/2008 10:37AM
Subject: [cdcbaa] community discharge question/title company
>> Facts: H files bankruptcy and gets a discharge. H&W now want to refinance their
>> home loan and the lender is demanding a satisfaction of judgment from one of the
>> creditors before funding the loan. There is (according to the client) NO lien recorded.
>>
>> I understand that the debt as to H was discharged and, by virtue of 11 USC 524, the
>> community discharge extends to the wife--as long as they remain married.
>>
>> My question is: As far as the lender and title company are concerned, are they right in
>> insisting on a satisfaction of judgment (which in my opinion isn't an appropriate thing
>> for the creditor to sign anyway, because the judgment wasn't satisfied) if the basis for
>> that insistence is that the discharge as to the wife could disappear if they get divorced
>> in the future?
>>
>>
>> ______________________
>> Mark J. Markus
>> Law Office of Mark J. Markus
>> 11684 Ventura Blvd. PMB #403
>> Studio City, CA 91604-2652
>> (818)509-1173 (818)509-1460 (fax)
>> web: http://www.bklaw.com/
>> This Firm is a Qualified Federal Debt Relief Agency
>> ___________
>> NOTICE: This Electronic Message contains information from the law office of Mark J.
>> Markus that may be privileged. The information is intended for the use of the
>> addressee only. If you are not the addressee, note that any disclosure, copy,
>> distribution or use of the contents of this message is prohibited.
>> IRS CIRCULAR 230 NOTICE: To ensure compliance with requirements imposed by
>> the IRS, we inform you that any U.S. tax advice contained in this communication (or in
>> any attachment) is not intended or written to be used, and cannot be used, for the
>> purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting,
>> marketing or recommending to another party any transaction or matter addressed in
>> this communication (or in any attachment).
>>
The post was migrated from Yahoo.
Facts: H files bankruptcy and gets a discharge. H&W now want to refinance their home loan and the lender is demanding a satisfaction of judgment from one of the creditors before funding the loan. There is (according to the client) NO lien recorded.
I understand that the debt as to H was discharged and, by virtue of 11 USC 524, the community discharge extends to the wife--as long as they remain married.
My question is: As far as the lender and title company are concerned, are they right in insisting on a satisfaction of judgment (which in my opinion isn't an appropriate thing for the creditor to sign anyway, because the judgment wasn't satisfied) if the basis for that insistence is that the discharge as to the wife could disappear if they get divorced in the future?
______________________
Mark J. Markus
Law Office of Mark J. Markus
11684 Ventura Blvd. PMB #403
Studio City, CA 91604-2652
(818)509-1173 (818)509-1460 (fax)
web: http://www.bklaw.com/
This Firm is a Qualified Federal Debt Relief Agency
___________
NOTICE: This Electronic Message contains information from the law office of Mark J. Markus that may be privileged. The information is intended for the use of the addressee only. If you are not the addressee, note that any disclosure, copy, distribution or use of the contents of this message is prohibited.
IRS CIRCULAR 230 NOTICE: To ensure compliance with requirements imposed by the IRS, we inform you that any U.S. tax advice contained in this communication (or in any attachment) is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any transaction or matter addressed in this communication (or in any attachment).
Facts: H files bankruptcy and gets adischarge. H&W now want to refinance their home loan and the lender is
demanding a satisfaction of judgment from one of the creditors before funding
the loan. There is (according to the client) NO lien
recorded.
I understand that the debt as to H was discharged
and, by virtue of 11 USC 524, the community discharge extends to the wife--as
long as they remain married.
My question is: As far as the lender and
title company are concerned, are they right in insisting on a satisfaction of
judgment (which in my opinion isn't an appropriate thing for the creditor to
sign anyway, because the judgment wasn't satisfied) if the basis for that
insistence is that the discharge as to the wife could disappear if they getdivorced in the future?
______________________Mark J. MarkusLaw
Office of Mark J. Markus11684 Ventura Blvd. PMB #403Studio City, CA91604-2652(818)509-1173 (818)509-1460 (fax)web: http://www.bklaw.com/This Firm is aQualified Federal Debt Relief Agency___________NOTICE: This Electronic
Message contains information from the law office of Mark J. Markus that may be
privileged. The information is intended for the use of the addresseeonly. If you are not the addressee, note that any disclosure, copy,
distribution or use of the contents of this message is prohibited.IRS
CIRCULAR 230 NOTICE: To ensure compliance with requirements imposed by the IRS,
we inform you that any U.S. tax advice contained in this communication (or in
any attachment) is not intended or written to be used, and cannot be used, for
the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii)
promoting, marketing or recommending to another party any transaction or
matter addressed in this communication (or in any
attachment).
The post was migrated from Yahoo.