Louis Esbin's (esbinlaw) Blog

Services for Real Estate Pros - Law Offices of Louis J. Esbin
California has passed amendments to its anti-deficiency statute. The closing of a short sale and acceptance of terms of short sale will not give rise to deficiency claims for liability that lenders may pursue. Does this mean that California borrowers are out of the woods? Hardly! A bankruptcy ana...
Get a copy of the Financial Crisis Inquiry Commission Report at http://fcic.gov/report
MERS - Mortgage Electronic Registration System, Inc. - nominee found in thousands (or hundreds of thousands) of mortgages and deeds of trust - suspended from doing business in California. Agent for Service of Process resigned March 25, 2009. A corporation is a fiction of the state that remains al...
1.  The Automatic Stay of a Foreclosure:  The filing of a bankruptcy case, whether Chapter 7, 11 or 13, gives rise to an automatic stay that will put a stop to a pending foreclosure or any other collection efforts, with some exceptions.   2.  Lien Stripping:  This is a commonly used term to descr...
Five Questions every Client, Friends or Family Should Ask a lawyer offering Bankruptcy Services: 1. Is the Lawyer Certified by the California State Bar as a Specialist? 2. Has the Lawyer been practicing for 25 years? 4. Has the Lawyer practiced before the 2005 Amendments and each year after? 3. H...
Back in February 2009, Congress had the opportunity to pass sweeping bankruptcy reform that would have allowed judges to modify the terms of mortgages on home residences.  The House passed the legislation, but the Senate never took up the debate and the amendments died!  At the same time, the fin...
A recent published decision by the Bankruptcy Appellate Panel for the Ninth Circuit affirmed a lower court decision that sends Chapter 13 Debtors out into the cold.  In this decision (in which I represented the debtor trying to save their home) the BAP held that on the date of filing the Debtor k...
How profound: I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks...
Consider the following points when considering whether we are witnessing the next residential real estate bubble: The U.S. Census Bureau released median income statistics on September 21, 2009.  Do your buyers' have income above or below the Median Income (see, http://www.census.gov/hhes/www/inco...
A recent email to a client follows, and should be a fair warning to have clients consult with bankruptcy counsel before execution of short sale purchase and sale documents: As a result of the short sale of your home before you file bankruptcy you will no longer have the contractually due amount o...

Louis Esbin

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