In an opinion handed down this afternoon, Bankruptcy Judge Melvin S. Hoffman ruled on the issue of what may qualify as a residence for purposes of eligibility for Bankruptcy Code § 522(d)(1).
In short, we won!
Here is the full opinion.
Continue Reading ?
I am often asked by prospective clients, current clients, and past clients about the tax implications of a short sale. Wisely, I preface any and all statements declaring the obvious fact that I am an attorney and NOT an accountant and if they want the BEST advice they should seek appropriate counsel by a an accountant, CPA, or tax attorney.
The most common question relates to the how the forgiven debt will be treated or viewed by the IRS. For example, ...
Continue Reading ?Posted by: Liss Law, LLC
Rules are not always a bad thing. As lawyers we live in the gray area separating the black from the white, the clear “yes” and the “no”-brainer. Rules are always restrictive, which leads to people trying to break free of them. They are also (often) incomprehensible, which leads to both unknowing, and willful rule-breaking.
Lawyers have tomes full of rules to apply to daily practice. Many of our rules are straight from that incredibly annoying chain-letter your mother sends you every ...
Continue Reading ?Posted by: Liss Law, LLC
The holiday season is over and now is the time when many Americans look in the mirror and ask themselves, “how am I going to pay for the gifts I bought?” Even though no licensed attorney would (or should) advise you to splurge on gifts and file bankruptcy immediately afterwards, some people try. But I digress…
Whether you’re about to file bankruptcy after months or planning, or whether you woke up this morning and had that “bankruptcy” feeling, you need to ...
Continue Reading ?
Well…..it depends. I know, not the best answer, but it really does depend. Every home owner is essentially like a snow
A good bankruptcy lawyer wears many hats. Sometimes we’re like boy scouts, helping the client cross the street without getting hit by the approaching bus. Sometimes I’m a tarot card reader. Ok, maybe not but I’ve got to predict the outcome of the client’s case. You know, it’s sort of like taking on the same role as Gary Sinise in Apollo 13. Remember? He wasn’t in the shuttle but he simulated the shuttle crews’ emergency situation from the ground and ...
Continue Reading ?Massachusetts Attorney General, Martha Coakley, who very well may be the Nation’s leading crusader in bringing big banks to justice, filed a lawsuit of major significance yesterday. The lawsuit is seeking redress for what Coakley calls “unlawful and deceptive” conduct in the foreclosure process, including unlawful foreclosures, false documentation, robo-signing, and deceptive practices related to loan modifications.
The lawsuit is the Nation’s first…but most definitely not the last. Coakley has named Bank of America Corp., JPMorgan Chase & Co., Wells Fargo ...
Continue Reading ?Posted by: Liss Law, LLC
We just got word that a riot’s goin’ on down at the Boston Harbor Hotel.
Word is that the organizers of OccupyBoston have now occupied the hotel because Freddie Mac-CEO Charles E. Haldeman is staying there. Haldeman is no stranger to Boston of course, he headed Hub-based Putnam Investments until 2008.
Continue Reading ?
http://blogs.wsj.com/developments/2011/10/23/twelve-questions-on-obamas-refi-plan/?mod=e2tw
Wall Street Journal reports that the Obama Administration is about to release a new, revamped, HARP program. Yes, the same program that entitled under-water homeowners to refinance…..despite having no equity. Yes, the same program that I have yet to hear one success story. Yes, the same program that on paper sounds amazing, but in execution appears to be all smoke and mirrors. The Obama administration claims that this program will provide more streamlining for banks to ...
Continue Reading ?The Massachusetts SJC ruled on the Bevilacqua v. Rodriguez case today. The case was on appeal from a lower court ruling that ultimately ruled that a foreclosure was not valid as the actual foreclosure sale took place before the mortgage was in hand. The case, upon appeal to the highest court in the Commonwealth, clearly has the makings of some juicy news…..and may impact thousands of transactions that occurred over the last few years.
A full report ...
Continue Reading ?