August Foreclosure Rate in NJ is 1 in every 539 homes. Change from July: down 4% Change from 2014: up 3% The annual change in Bank-Owned Properties is up 295% Foreclosures which have eased in other states may only be peaking in New Jersey. Foreclosures had been crawling through the slow process in New […]
A debtor without counsel (pro se) filed a Chapter 13 petition. The trustee objected to the Plan for several reasons. The debtor was told that he had 14 days to file an amended Plan and was explained what needed to be done. The debtor advised the Court that he did mail the amended Plan on the […]
The Chapter 13 debtor was a licensed “caregiver” and marijuana grower. Debtor filed for Chapter 13 bankruptcy protection after falling behind on his house and utility payments. He also missed at least one payment on his truck. The U.S. Trustees moved to dismiss the case because the bankruptcy court “should not enforce the protections of […]
A new study indicates that more than 1.5 million home buyers who were negatively impacted by the housing/financial crisis may be entering the mortgage market during the next 3 years. Approximately 700,000 “boomerang buyers” may be re-entering the housing market this year alone. Who are “boomerang buyers”? Homeowners who were more than 60 days late […]
A debtor filed a Chapter 7 Bankruptcy. The Debtor was owed approximately $9,000 in past-due child support payments. The Trustee objected to the Debtor keeping these funds when they were paid to her. Trustee presented that, since the Debtor was no longer her dependents, those debts were to be turned over to the Trustee. Outcome: […]
