In case you missed this gem, this decision in Sundquist v. Bank of America, N.A. by a bankruptcy judge in California is a must read. The opening sentence is one of the best I’ve seen lately: Franz Kafka lives. This automatic stay violation reveals that he works at Bank of America. The opinion details the […]
On Thursday, the Department of Justice released a settlement with Wells Fargo concerning Wells Fargo’s failure to send payment change notices and updated escrow statements to homeowners in bankruptcy: Settlement Terms Wells Fargo agrees to pay a total of $81.6 million to homeowners who were in bankruptcy between Dec. 1, 2011, and March 31, 2015, and who were […]
If you received a notice from the ResCap bankruptcy regarding your mortgage-related claim, it is to notify you that the Plan Confirmation vote is coming up. If you filed a Proof of Claim, you might be in one of the classes of creditors listed in the proposed Plan. There is a 1-800 number in a […]
Relevant Court Documents Please find below a link to the following important document recently filed in the bankruptcy proceedings of Residential Capital, LLC, Case No. 12-12020 (MG) (USBC, Southern District of New York): No 1926 Third Revised Joint Omnibus Scheduling Order No. 1887 Notice of Hearing and Debtors’ Second Supplemental Motion Pursuant to Fed. R. […]
Here’s where you can find all of the bankruptcy filings for the GMAC ResCap bankruptcy: http://www.kccllc.net/rescap Right now, homeowners are fighting for their own committee to represent their interests in the bankruptcy.
From the National Consumer Bankruptcy Rights Centerblog: In a victory for consumer debtors, the Bankruptcy Court for the Eastern District of Kentucky disallowed Ocwen’s proof of claim for late fees and charges, and awarded judgment, including punitive damages in the amount of $25,000.00, in favor of the debtor due to Ocwen’s “gross reckless[ness]” in accounting and […]
Pipeline Press, Rob Chrisman says: The industry continues to watch ResCap’s bankruptcy, even though at this point it is not front page news. The highly leveraged ResCap subsidiary had made Ally (its parent company) an unattractive asset because of the fears that the bank may become responsible for ResCap’s debt. On May 15, 2012, Ally put […]