Legal Updates

Top 10 bankruptcy myths debunked

Myth No. 1: Consumers can file for bankruptcy as many times as they like. Some strict limitations have been set by the new law. Debtors will not be able to file Chapter 7 bankruptcy if they’ve been through a Chapter 7 within eight years of the new filing. If they want to file for Chapter 13, they will not receive a discharge within two years of a previous Chapter 13 discharge and within...

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Lehman Bros. Bankruptcy Offers Prime Example of How Not to Grow a CRE Portfolio

Doubling Down Proved Fatal at a Time When a Crisis was Brewing By Mark Heschmeyer As corporate post mortems go, the report compiled by the bankruptcy examiner of Lehman Brothers Holdings Inc., may go down as the standard in bankruptcy documents. And what it tells us about the collapse of the once-venerable investment house will stand as a clear warning of what commercial real estate strategy not...

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Never Negotiate with Your Creditors Out of Fear

 Take a look at “How to Negotiate with Your Creditors” at Entrepreneur Magazine this week. Tips to help you negotiate with a creditor or collection agency: If you make a request that is denied for whatever reason, ask to speak with a supervisor. Don’t agree to pay more than you can afford when negotiating. Know in advance what your financial situation really is, then work within...

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New Restrictions on Creditors’ Rights Exclusions in Title Insurance Policies by Holme Roberts & Owen LLP

Anyone who obtains title insurance, whether as an owner or a lender, should be aware of a recent abrupt and significant change in title insurance practices across the country. Title companies have recently stated that they will no longer delete creditors’ rights exclusions from, or add affirmative creditors’ rights coverage as an endorsement to, any of their issued title policies. In fact,...

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