If you are contemplating a divorce or have recently gone through a divorce and are straddled with unsecured debt, options may exist to reduce your unsecured debt obligations.
At this time, it means that discharging private student loan debt in the Tenth Circuit through an adversary proceeding in bankruptcy court may be an option for debtors with private non-qualifying educational loans unless and until the Tenth Circuit or United States Supreme Court issues a decision determining otherwise.
One of the major benefits of a chapter 13 bankruptcy is the ability of a homeowner to “strip” second and subsequent “consensual” liens – like deeds of trust – from a residence under certain conditions. This type of lien strip, sometimes more useful than the type that can only remove non-consensual liens like judgment liens, … Continue Reading
Co-Author: Karen J. Radakovich, Esq. General Concepts Bankruptcies affect real estate brokers. For example, listing brokers are typically hurt when their short payoff sellers file bankruptcy. It is now common for a buyer’s agent to discover that a builder/seller has filed bankruptcy. Real Estate brokers need to have a basic understanding of some features of … Continue Reading
For foreclosures filed after January 1, 2008, Colorado law no longer provides for an owner’s redemption period. (See Colorado Foreclosure Revolution (Part I). This article explains short pay-off transactions and the ramifications of the loss of owner’s redemption period.) A “short pay-off” or “short sale” is a transaction in which a lender agrees to accept … Continue Reading