The San Diego City Council this month approved the creation of a foreclosure registry, which requires banks to log every San Diego city home in the foreclosure process into a city-run database. Local experts are almost unanimous that this is NOT an idea whose time has come. • Paul Barnes: President of Shea Homes San Diego: […]
Horry County State Bank foreclosed on nine building lots owned by Legacy Development SC Group LLC and is still $1 million short. The Bank could sue for the deficiency and then depose Legacy to try and enforce the judgment. Instead, the Bank teamed with two other creditors and forced Legacy into an involuntary bankruptcy “because […]
Scandalwatchers know that ex CIA chief David Petraeus was exposed after his paramour, Paula Broadwell, sent threatening emails to military socialite Jill Kelley who had the FBI trace those messages back to Broadwell’s laptop. Once inside the laptop the FBI discovered the trail of messages between Petraeus and Broadwell that led to his downfall. The […]
In a story of high finance and international intrigue, former billion dollar real estate tycoons Michael and Linda Mastro will return to the US to face 43 counts of bankruptcy fraud including scheming to defraud, concealment of assets, monely laundering, making false oaths or accounts, making false declaration under penalty of perjury, and unlawfully receiving […]
Bankruptcy and integrity play key roles in several campaigns across the country. This year, more races than ever implicate bankruptcy, debt and morality, raising the question whether voters are willing to overlook a candidate’s financial struggles when they cast their votes on November 6. In Massachusetts, well known bankruptcy personality Elizabeth Warren is in a […]
Guernsey Bank is a small, privately owned Ohio bank that is approaching bank foreclosures in a revolutionary way: they are fixing up homes and renting them out until the right buyer comes along. This practice is contrary to most banks’ tendency to credit bid on their foreclosure auctions, keep the usually beaten-up properties vacant and […]
From America’s Poorest Presidents: Bankruptcy, Insolvency and Extreme Financial Hardship: An ambitious but poor young man, Abraham Lincoln’s early life left him in financial ruin. When he was in his 20′s he bought a general store with a friend and business associate – an investment he would later regret. Before the store went bankrupt Lincoln sold his […]
In researching the article Baseball Bankruptcy Hall of Fame and its accompanying infographic, I tried to compile a true allstar team of MLB debtors. I discovered that every position in baseball, from infielder to outfielder, from pitcher to designated hitter, has been represented as a debtor in the Bankruptcy Court, except one: the catcher. I could […]
Ronald J. Drescher, Maryland bankruptcy attorney and founder of Drescher & Associates has launched a Facebook campaign to raise funds for an organization he believes in and volunteers for – Maryland Volunteer Lawyers Service (MVLS). Maryland Volunteer Lawyers Service (MVLS) the largest pro bono organization in Maryland, provides critically needed legal assistance to 3,700 low-income Marylanders each year. Through September […]
The mission statement of the United States Bankruptcy Court for the District of Maryland is to “promote social and economic order by reconciling the opportunity of debtors to a fresh start with the right of creditors to be paid.” A Google search of “fresh start bankruptcy” turned up about 2,560,000 results. A search of bankruptcy […]
