Do You Know What Is So Frustrating?
 Every single day there are changes in the law that directly affect the way you do business. As attorneys, working daily in this field, we focus on staying up-to-date on these changes. What has been so frustrating over the years is finding a method to convey this information to our clients and friends in an effective way. Now, our new Blogs and reformatted Newsletters give us the vehicle to keep you informed on these critical changes in a succinct, easy to access format! We hope you will read and take advantage of these important materials, which we believe will be helpful to your business. We anticipate producing at least 10 blogs and 1 Newsletter per month to keep you informed right up-to- the-moment! And, as always, we welcome your suggestions of what to include in these updates, as well as your feedback.
Warmest regards,
Marshall Goldberg |
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Non-depository mortgage lenders and originators have a deadline looming of August 13 to ensure compliance with Federal Anti-Money Laundering (AML) regulations, as mandated by the U.S. Department of the Treasury's Financial Crimes Enforcement Network (FinCEN). As outlined in the regulations, mortgage lenders and originators must: Read More
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For Some Homeowners, Strategic Default is not an Option - Why Homeowners Choose Not to Walk Away
For a time, it was almost fashionable for a homeowner to make a 'business decision' to intentionally default on his mortgage when a home was worth less than was owed on it, even if the homeowner had the means to make the payments. Some homeowners decided it made more financial sense to walk away from an under-secured loan than to continue sinking money into a devalued asset. The practice of walking away from a mortgage in this fashion has been referred to as "strategic default." Read More
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| Beware the Unsecured Guaranty in Your Borrower's Chapter 11 Strategy
Most often, having a third party guaranty obligated to you as additional security for the repayment of a loan is a good thing. However, a bankruptcy context can have the effect of skewing conventions, depending on your perspective, so that what was once thought to be a good position can turn out to be a disadvantage, and vice versa. Such can be the case when a Chapter 11 debtor sets out to seek plan confirmation. Read More
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UCC Article 2A - Case Law Gains Traction Toward Presumed Enforceability of Finance Leases Against the Typical Challenges Raised By Lessees
Evolving case law continues to advance the public policy favoring finance leases codified in UCC Article 2A. Finance leases are an important alternative means for many businesses to acquire needed equipment they may not be able to (or choose not to) purchase using traditional finance options.
Generally, the explicit terms of a Lease Agreement, as well as its structure, define whether it is in fact a finance lease governed by UCC Article 2A-103(g). California Article 10103(a)(7) defines the components of finance leases under state law.
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CFPB Launches Consumer Credit Card Complaint Database
The Consumer Financial Protection Bureau (CFPB), created by the Dodd-Frank Act to act in conjunction with the Federal Trade Commission to oversee and regulate certain sectors of the financial marketplace, recently announced the launch of a consumer complaint database available to the public containing basic information about individual complaints against credit card issuers. Read More
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Creditors Must Act Quickly After Plan Confirmation To Avoid Being Stymied By The Equitable Mootness Doctrine on Appeal
What is the doctrine of equitable mootness, and why should a creditor care after a Chapter 11 plan has been confirmed?
The equitable mootness doctrine as applied to bankruptcy matters may ultimately render an appeal of a confirmed plan moot. While redress may be possible on appeal, it would be inequitable, or unfair, to grant the relief sought by the appellant. Read More
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Make Sure Your Contracts Contain Enforceable Choice of Law Provisions
Choice of law provisions allow parties to negotiate which forum and law will apply to future contract disputes, if necessary, and are as important as clear payment terms when it comes to enforcing your contract. Choice of law provisions are generally upheld in California if they meet two requirements:
(1) the contract bears a reasonable relationship to the state whose law is chosen to govern; and
(2) application of the chosen law does not violate a strong public policy that would otherwise protect a party. Read More
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The California Court of Appeal's June 8, 2012 decision in
Skov v. U.S. Bank N.A.clarified the applicability of state statute 2923.5, which imposes certain duties on residential lenders prior to initiating nonjudicial foreclosure. Read More
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California Law Does Not Prevent a Junior Lienholder From Obtaining a Deficiency Judgment, As Long As the Senior and Junior Liens Were Not Created As An Artifice To Evade The Law.
California Code of Civil Procedure Section 580d precludes a judgment for "any loan balance left unpaid after the lender's nonjudicial foreclosure under a power of sale in a deed of trust ... on real property." However, section 580d contemplates a single loan, and is generally inapplicable to junior lienholders who pursue deficiency judgments after being "sold out" by senior lienholders. Read More
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The recent decision in Fait v. New Faze Development, Inc. gives holders of real estate notes a green light to pursue claims for 'waste' if an owner devalues the property, even if such conduct does not meet traditional notions of 'bad faith' Read More |
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August 2012
 Scan me!
______________ As Quoted in Forbes!
Marshall Goldberg is quoted in Forbes for his article on the Dodd-Frank Act as featured in our July 2012 newsletter. Click here to check out the article by economic analyst Bill Flax .
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Please check out our new Blog Site at www.glassgoldbergblog.com where you will find posts, articles, FAQs etc. several times a week which we believe will be of interest to you. Feel free to contact us with questions or comments. ______________ Our Legal Team
Glass & Goldberg is comprised of talented attorneys and staff who have the utmost knowledge and experience in the legal community.
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Since its inception in 1986,
Glass & Goldberg has earned an unparalleled reputation in the areas of creditors' rights, commercial and business transactions and litigation, and bankruptcy and restructuring.
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Feedback
We invite you to contact us to discuss any topics presented in these article, to learn how we might further assist your business, and to sign up for future newsletters!
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Reach us at
Phone: (818) 888-2220
Email: info@glassgoldberg.com
Glass & Goldberg
21700 Oxnard St., #430
Woodland Hills, CA 91367
Phone: (818) 888-2220
Fax: (818) 479-9940
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