Posts Tagged ‘Josh Harmon’

Feds raid Colonial Bank office in Florida

Thursday, August 13th, 2009

By Jane Sutton

MIAMI (Reuters) – Federal agents working with the U.S. Treasury’s Troubled Asset Relief Program (TARP) executed search warrants at two Florida banks on Monday and Colonial Bank (CNB.N) said one of them was its office in Orlando.

A spokeswoman for the Alabama-based bank told Reuters a warrant had been served at the bank’s Orlando location but could not say what was the target of the warrants.

“The bank is cooperating,” Colonial Senior Vice President Merrie Tolbert told Reuters by telephone. “Colonial continues to operate as usual. This search warrant has no impact on our day-to-day retail and commercial banking operations.”

A spokeswoman with the office of the Special Inspector General for the Troubled Asset Relief Program, which buys assets from troubled financial institutions to stabilize the banking industry, would only say that its agents executed two search warrants in Florida on Monday.

“Due to the nature of the ongoing investigation we cannot provide any further information,” the agency said in a news release.

FBI agents joined the search but declined to comment.

Tolbert could not confirm local media reports that the second warrant was executed at a bank branch in the central Florida town of Ocala.

Shares of parent company Colonial BancGroup Inc plunged 18 percent on Monday after it had said on Friday that a key $300 million investment from Taylor, Bean & Whitaker Mortgage Co had fallen through, raising doubts about its survival.

Colonial BancGroup, which last month was issued a cease-and-desist order by the regulators, said it was exploring strategic capital alternatives, including a sale or merger of the company.

The shares have lost more than 90 percent of their value in the past year.

Colonial BancGroup operates 355 branches in Florida, Alabama, Georgia, Nevada and Texas and has more than $25 billion in assets. Its failure would be the largest this year.

(Editing by Pascal Fletcher and Maureen Bavdek)

Source: http://www.reuters.com/article/hotStocksNews/idUSTRE5724PT20090803

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Spinal Cord Injury

Friday, August 7th, 2009

Spinal cord injury x-ray

Spinal cord injury x-ray

Our spinal cord injury attorneys will work relentlessly to get compensation for the victim.  Many times, the victim will require medical assistance and monitoring the rest of their life.  Our spinal cord injury attorneys will consult with a medical expert to prepare a cost estimate of medical treatment for the rest of the victim’s life.  In addition, our spinal cord injury attorneys will obtain a detailed report showing the victim’s lost wages and any future earnings that the victim is entitled to receive.  Let our spinal cord injury attorneys handle your case so you may concentrate on getting better and making a full recovery.
 
Any type of accident may cause an injury to the spinal cord.  This is a serious and life-altering injury.  It produces severe symptoms that will alter a person’s life.  Many times, a spinal cord injury produces paralysis or other loss of motion.  Unfortunately, many of these injuries are permanent and the victim will never recover fully from the accident.  Victims with a spinal injury may never be able to walk again.  In addition, the victim may require full-time care, such as a nurse, and may never be able to work again.  They will also require ongoing medical care and financial assistance for the rest of their lives.

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TBI

Friday, August 7th, 2009


Any type of accident injuring the head may cause a serious condition called Traumatic Brain Injury (TBI). This is a serious and life-altering injury. Traumatic Brain Injury is a serious brain injury that many individuals never recover from. It produces severe symptoms and may alter a victim’s personality, motor skills, communication skills, speech, and ability to reason or think clearly. Many victims of Traumatic Brain Injury are never able to work again. They will also require ongoing medical care and financial assistance for the rest of their lives.

Our traumatic brain injury attorneys will work relentlessly to get compensation for the victim. Many times, the victim will require medical assistance and monitoring the rest of their life. Our traumatic brain injury attorneys will consult with a medical expert to prepare a cost estimate of medical treatment for the rest of the victim’s life. In addition, our traumatic brain injury attorneys will obtain a detailed report showing the victim’s lost wages and any future earnings that the victim is entitled to receive. Let our traumatic brain injury attorneys handle your case so you may concentrate on getting better and making a full recovery.

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Traumatic Brain Injury

Friday, August 7th, 2009


Any type of accident injuring the head may cause a serious condition called Traumatic Brain Injury (TBI). This is a serious and life-altering injury. Traumatic Brain Injury is a serious brain injury that many individuals never recover from. It produces severe symptoms and may alter a victim’s personality, motor skills, communication skills, speech, and ability to reason or think clearly. Many victims of Traumatic Brain Injury are never able to work again. They will also require ongoing medical care and financial assistance for the rest of their lives.

Our traumatic brain injury attorneys will work relentlessly to get compensation for the victim. Many times, the victim will require medical assistance and monitoring the rest of their life. Our traumatic brain injury attorneys will consult with a medical expert to prepare a cost estimate of medical treatment for the rest of the victim’s life. In addition, our traumatic brain injury attorneys will obtain a detailed report showing the victim’s lost wages and any future earnings that the victim is entitled to receive. Let our traumatic brain injury attorneys handle your case so you may concentrate on getting better and making a full recovery.

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Birth and Nursing Home Injuries

Friday, August 7th, 2009

Nursing Home Abuse and Neglect
            The population of Las Vegas is growing older as baby boomers approach retirement age.  There is an increased demand for nursing home care.  Unfortunately, the nursing home industry contains some unfit operators that do not adequately care for their elderly patients.  Too often, elderly patients can not care for themselves – that is the reason families turn to nursing homes for assistance.  But sometimes nursing homes do not perform the job families pay them to perform.  Unfortunately, the elderly patient may have difficulty communicating and is unable to inform family members about any abuse.  The nursing home may also abuse the elderly by increasing or decreasing necessary medications, which may further hamper the patient’s ability to complain about the abuse or alert family.  Nursing home abuse continues to increase as our population ages.
        Family members may protect their loved ones by looking for signs or symptoms of abuse.  These signs may be physical or mental.  Physical signs of nursing home abuse may include bed sores, malnutrition, unsanitary conditions, bruising, or over-medication.  Our nursing home abuse attorneys can discuss physical signs of abuse with your family.  Mental signs of nursing home abuse may include personality changes, paranoia, emotional outbursts, distress, or failure to communicate with loved ones.  Our nursing home abuse attorneys can discuss mental signs of abuse with your family.  Nursing home abuse is often difficult to diagnose and frequently is not discovered without active involvement from the family and knowledgeable nursing home abuse attorneys. 
        Our nursing home abuse attorneys will work hard to end the abuse and get your loved one the maximum compensation they deserve.  They may be entitled to money to compensate them for their pain and suffering, medical costs for future medical care, and punitive damages to punish the nursing home for their malicious behavior.  Contact our nursing home abuse attorneys today to discuss your case and help your loved one.

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Defective Products

Sunday, August 2nd, 2009

The Law Office of Joshua L. Harmon

provides aggressive representation to injured victims.  We provide proactive and aggressive representation because the best results are earned through your attorney’s hard work.  Insurance companies did not get rich by paying out large damage claims – so it is important to let an experienced attorney handle your injury claim.

The firm handles all types of injury and accident claims.  We assist you in getting your life back together while you concentrate on healing the damage to your body.  The law firm will guide you through the complex legal environment caused by insurance companies aggressively denying claims.  We provide detailed analysis into critical questions such as what caused the accident, who is at fault, who can be held legally responsible, what insurance coverage is available, and how to position your case for maximum recovery.  We also are skilled at describing and portraying your injuries in a vivid and detailed manner so that any insurance company knows the extent of compensation you should receive.  Our informative analysis and experience is critical in negotiating a satisfactory resolution.

Unfortunately, some claims cannot be fully resolved through negotiation and require litigation.  This is the process of filing a lawsuit in Court and possibly culminating in a jury trial.  The litigation process can be a rewarding experience, but it is also time-consuming.  Any client must understand that the best results take time so that your case can be properly positioned to achieve the maximum recovery.  We do not advertise “quick” cash.  We commit ourselves to a maximum recovery and recognize that the best results often take time and hard work.  Many attorneys that seek to resolve your case quickly are unwilling to put in the work and time to obtain the highest possible dollar amount. 

The litigation process begins at the Court.  The process is initiated by filing a Complaint which provides the factual basis for your claim and identifies your legal theories for recovery.  The other side typically has twenty (20) days to respond to the Complaint.  Then, the process called “discovery” begins.  The discovery process is a fact finding procedure.  The sides will interview witnesses and record individuals’ testimony through the deposition process.  In addition, the sides will seek and exchange relevant documents and attempt to narrow the issues that are presented to a jury.  The typical discovery process lasts six (6) to twelve (12) months.  After that, the Court will assign a trial date and the parties will present their cases to a jury. 

Whether your case is successfully resolved through negotiation or litigation, we will assist you through the process and aggressively seek the largest monetary recovery possible. 

We look forward to helping you through this difficult stage of your life.  Please contact us immediately so we may begin to process your claim

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Animal Attacks

Sunday, August 2nd, 2009

Animal Attacks
      Pet owners have a duty to properly restrain and handle their dogs or other animals.  This may include ensuring the animal is on a leash when it is outside the home or that the dog is properly fenced onto the owners’ property.  When a dog is not leashed or not properly confined to the residence, serious injuries can occur.  Our dog bit attorneys are available to evaluate your case and assist in determining who is liable for the dog bite. 
      Many dogs in Las Vegas, such  as pit bulls and rottweillers are aggressive by nature and can seriously injure an individual.  These dogs can be extremely violent if not properly trained and handled.  The newspapers report numerous mauling incidents.  These are some of the most serious and heart-wrenching tales because they often involve infants, toddlers, or others unable to protect themselves.  A dog’s powerful jaws can rend flesh and inflict life-threatening wounds in a matter of seconds.  Many of these injuries produce severe scarring that never heals.
      Injured victims can hold dog owners legally responsible for a violent dog’s actions.  The most common legal claim is negligence – for failing to properly leash the dog or failing to properly train the dog.  In addition, if the dog attacks a “guest” in the owner’s home, the owner may be legally liable responsible as well.  Most comprehensive homeowner’s insurance policies provide insurance coverage for dog attacks.  Thus, if a pet owner’s dog attacks a person, that injury will typically trigger insurance coverage.  And most homeowners have insurance because it is paid by their mortgage holder through an escrow account, whether the homeowner knows this or not.  So unless the individual owns their home “free and clear” and has no mortgage, there should be insurance coverage for a dog bite or attack. 

 

      Our dog bite attorneys are able to evaluate your case and get you the maximum compensation for your injuries.  Dog bite victims may be entitled to significant financial compensation for their injuries.  Our dog bite attorneys will work hard to get you all the money you deserve.  You may receive money for your medical bills, pain and suffering, lost wages, future medical treatment, and a host of other reasons depending upon your case.  If you have suffered a dog bite, please contact our dog bite attorneys immediately so we may begin getting you the money you deserve.

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Paralysis

Saturday, August 1st, 2009

Las Vegas Attorney Specializing in Personal Injury - Paralysis
Las Vegas Attorney Specializing in Personal Injury – Paralysis

Paralysis
         Any type of accident may cause an injury that results in paralysis.  This is a serious and life-altering injury.  It produces severe symptoms that will alter a person’s life, causing the loss of motion in one or more areas of the body.  Unfortunately, many of these injuries are permanent and the victim will never recover fully from the accident.  Victims with paralysis may never be able to walk again.  In addition, the victim may require full-time care, such as a nurse, and may never be able to work again.  They will also require ongoing medical care and financial assistance for the rest of their lives.

  
        Our paralysis attorneys will work relentlessly to get compensation for the victim.  Many times, the victim will require medical assistance and monitoring the rest of their life.  Our paralysis attorneys will consult with a medical expert to prepare a cost estimate of medical treatment for the rest of the victim’s life.  In addition, our paralysis attorneys will obtain a detailed report showing the victim’s lost wages and any future earnings that the victim is entitled to receive.  Let our paralysis attorneys handle your case so you may concentrate on getting better and making a full recovery. 

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Dui accidents

Saturday, August 1st, 2009

DUI Accidents – Drunk Driving Accident

It is illegal in Nevada to operate a motor vehicle with a blood alcohol level of 0.08 or higher. (NRS 484.379). Las Vegas is a 24 hour town and many bars or casinos never close. Every day, people make the disastrous decision to operate their car after they have drunk too much alcohol. Not only are there criminal penalties for this behavior, but also it can have a far more tragic outcome, such as injuring or killing another driver. Drunk driving accidents happen around the clock in Las Vegas – anytime and anyplace. It is only a matter of time until a habitual drunk driver causes an accident and irrevocably impacts someone else’s life. Our DUI accident attorneys are experienced in dealing with the aftermath of a DUI accident and will allow you to focus on recovering from your injuries.
Unfortunately, DUI accidents frequently produce injuries. An injured victim is first struck by drunk driver; and second victimized by an insurance company that refuses to pay the victim a proper settlement for their injuries. Insurance companies have no incentive to properly compensate victims. Insurance companies are not in business to pay money to victims, they are in business to make money. Shortly after a collision, the insurance company may contact the victim and offer a small monetary settlement. This is almost never a fair settlement, and the insurance companies hope the victim does not contact a DUI accident attorney. Our DUI accident attorneys are able to get you the maximum compensation for your injuries, and prevent you from accepting a very unfair deal from a greedy insurance company.
DUI accidents produce a wide range of injuries. These range from broken bones caused by the traumatic forces of collisions, to soreness and stiffness associated with “whiplash.” Our DUI accident attorneys frequently deal with insurance companies and notice they will typically try to deny all but the most obvious injuries. Insurance companies will attempt to deny certain injuries that are difficult to diagnose, such as whiplash or other soft-tissue injuries. They will also seek to refuse to reimburse medical expenses for diagnostic treatment such as an MRI or X-Rays. However, when our experienced DUI accident attorneys contact the insurance companies, they know these delaying tactics will not work and that they cannot take further advantage of a victim. Our DUI accident attorneys will work hard and force the insurance company to pay you all the money you deserve.
Common injuries associated with DUI accidents are discussed in general “layman’s” terms below. For a complete diagnosis and treatment, please consult with your treating physician.

  1. Herniated disc – A serious condition caused when the internal fluid from a disc in a victim’s spine leaks out of the disc. This causes severe irritation to the nearby nerves. The body identifies the leaking fluid as a foreign substance and attacks the fluid, causing extreme pain because the “battle” takes place on the nearby nerve roots. Please feel free to contact your treating doctor or our DUI accident attorneys for additional helpful information.
  2. Bulging or protruding disc – A “bulging” or “swelling” of the disc. This condition is troubling because the swelling or bulging may cause the disc to push against a nearby nerve root. This is associated with tingling or pain in the extremities, as well as back pain. Please feel free to contact your treating doctor or our DUI accident attorneys for additional helpful information.
  3. Annular tearing – An internal disruption of the disc in a victim’s spine. It is associated with a ripping of the disc and is very painful because there is an abundance of nerves present in the area. Annular tearing can produce severe back pain and possibly leg pain because the effected nerves travel to the legs. Please feel free to contact your treating doctor or our DUI accident attorneys for additional helpful information.
  4. Spinal cord injury – Any type of accident may cause an injury to the spinal cord. This is a serious and life-altering injury. It produces severe symptoms that will alter a person’s life. Many times, a spinal cord injury produces paralysis or other loss of motion. Unfortunately, many of these injuries are permanent and the victim will never recover fully from the accident. Victims with a spinal injury may never be able to walk again. In addition, the victim may require full-time care, such as a nurse, and may never be able to work again. They will also require ongoing medical care and financial assistance for the rest of their lives. Please feel free to contact your treating doctor or our DUI accident attorneys for additional helpful information.
  5. Traumatic brain injury (TBI) – Any type of car accident injuring the head may cause a serious condition called Traumatic Brain Injury (TBI). This is a serious and life-altering injury. Traumatic Brain Injury is a serious brain injury that many individuals never recover from. It produces severe symptoms and may alter a victim’s personality, motor skills, communication skills, speech, and ability to reason or think clearly. Many victims of Traumatic Brain Injury are never able to work again. They will also require ongoing medical care and financial assistance for the rest of their lives. Please feel free to contact your treating doctor or our DUI accident attorneys for additional helpful information.
  6. Other injuries – any part of the body can be injured in a car accident. Some of the common injuries are discussed above. For details on additional injuries, please contact our experienced DUI accident attorneys.

DUI accident victims may be entitled to significant financial compensation for their injuries. Our DUI accident attorneys will work hard to get you all the money you deserve. You may receive money for your medical bills, pain and suffering, lost wages, future medical treatment, and a host of other reasons depending upon your case. If you have suffered an injury, please contact our DUI accident attorneys immediately so we may begin getting you the medical treatment and money you deserve.

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Drunk Driving Accident

Saturday, August 1st, 2009

DUI Accident, drinking and driving

DUI Accident, drinking and driving

DUI Accidents – Drunk Driving Accident
It is illegal in Nevada to operate a motor vehicle with a blood alcohol level of 0.08 or higher. (NRS 484.379). Las Vegas is a 24 hour town and many bars or casinos never close. Every day, people make the disastrous decision to operate their car after they have drunk too much alcohol. Not only are there criminal penalties for this behavior, but also it can have a far more tragic outcome, such as injuring or killing another driver. Drunk driving accidents happen around the clock in Las Vegas – anytime and anyplace. It is only a matter of time until a habitual drunk driver causes an accident and irrevocably impacts someone else’s life. Our DUI accident attorneys are experienced in dealing with the aftermath of a DUI accident and will allow you to focus on recovering from your injuries.
Unfortunately, DUI accidents frequently produce injuries. An injured victim is first struck by drunk driver; and second victimized by an insurance company that refuses to pay the victim a proper settlement for their injuries. Insurance companies have no incentive to properly compensate victims. Insurance companies are not in business to pay money to victims, they are in business to make money. Shortly after a collision, the insurance company may contact the victim and offer a small monetary settlement. This is almost never a fair settlement, and the insurance companies hope the victim does not contact a DUI accident attorney. Our DUI accident attorneys are able to get you the maximum compensation for your injuries, and prevent you from accepting a very unfair deal from a greedy insurance company.
DUI accidents produce a wide range of injuries. These range from broken bones caused by the traumatic forces of collisions, to soreness and stiffness associated with “whiplash.” Our DUI accident attorneys frequently deal with insurance companies and notice they will typically try to deny all but the most obvious injuries. Insurance companies will attempt to deny certain injuries that are difficult to diagnose, such as whiplash or other soft-tissue injuries. They will also seek to refuse to reimburse medical expenses for diagnostic treatment such as an MRI or X-Rays. However, when our experienced DUI accident attorneys contact the insurance companies, they know these delaying tactics will not work and that they cannot take further advantage of a victim. Our DUI accident attorneys will work hard and force the insurance company to pay you all the money you deserve.
Common injuries associated with DUI accidents are discussed in general “layman’s” terms below. For a complete diagnosis and treatment, please consult with your treating physician.

  1. Herniated disc – A serious condition caused when the internal fluid from a disc in a victim’s spine leaks out of the disc. This causes severe irritation to the nearby nerves. The body identifies the leaking fluid as a foreign substance and attacks the fluid, causing extreme pain because the “battle” takes place on the nearby nerve roots. Please feel free to contact your treating doctor or our DUI accident attorneys for additional helpful information.
  2. Bulging or protruding disc – A “bulging” or “swelling” of the disc. This condition is troubling because the swelling or bulging may cause the disc to push against a nearby nerve root. This is associated with tingling or pain in the extremities, as well as back pain. Please feel free to contact your treating doctor or our DUI accident attorneys for additional helpful information.
  3. Annular tearing – An internal disruption of the disc in a victim’s spine. It is associated with a ripping of the disc and is very painful because there is an abundance of nerves present in the area. Annular tearing can produce severe back pain and possibly leg pain because the effected nerves travel to the legs. Please feel free to contact your treating doctor or our DUI accident attorneys for additional helpful information.
  4. Spinal cord injury – Any type of accident may cause an injury to the spinal cord. This is a serious and life-altering injury. It produces severe symptoms that will alter a person’s life. Many times, a spinal cord injury produces paralysis or other loss of motion. Unfortunately, many of these injuries are permanent and the victim will never recover fully from the accident. Victims with a spinal injury may never be able to walk again. In addition, the victim may require full-time care, such as a nurse, and may never be able to work again. They will also require ongoing medical care and financial assistance for the rest of their lives. Please feel free to contact your treating doctor or our DUI accident attorneys for additional helpful information.
  5. Traumatic brain injury (TBI) – Any type of car accident injuring the head may cause a serious condition called Traumatic Brain Injury (TBI). This is a serious and life-altering injury. Traumatic Brain Injury is a serious brain injury that many individuals never recover from. It produces severe symptoms and may alter a victim’s personality, motor skills, communication skills, speech, and ability to reason or think clearly. Many victims of Traumatic Brain Injury are never able to work again. They will also require ongoing medical care and financial assistance for the rest of their lives. Please feel free to contact your treating doctor or our DUI accident attorneys for additional helpful information.
  6. Other injuries – any part of the body can be injured in a car accident. Some of the common injuries are discussed above. For details on additional injuries, please contact our experienced DUI accident attorneys.

DUI accident victims may be entitled to significant financial compensation for their injuries. Our DUI accident attorneys will work hard to get you all the money you deserve. You may receive money for your medical bills, pain and suffering, lost wages, future medical treatment, and a host of other reasons depending upon your case. If you have suffered an injury, please contact our DUI accident attorneys immediately so we may begin getting you the medical treatment and money you deserve.

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Truck Accidents

Saturday, August 1st, 2009

 

18 wheeler Diesel truck accident at traffic intersection

18 wheel Diesel truck accident at traffic intersection

     Collisions involving commercial trucks often produce catastrophic injuries.  This is a natural result of the forces involved in trucking accidents.  Many commercial trucks weigh upwards of 80,000 pounds, compared with approximately 2,200 pounds for a typical car.  So, in a trucking accident, the enormous size and weight of the commercial truck produces serious injuries in almost every case.  Furthermore, commercial trucks often have bumpers or sides that do not match the typical height of a normal car bumper – which removes or negates one of the most common car safety devices.  Another unfortunate reality is that commercial trucks have a much higher ground clearance.  If a car impacts the side of a commercial truck, the top half of the car is often sheared completely off the bottom half of the car – with disastrous results for the car driver.  Our truck accident attorneys will investigate the accident scene and determine who is at fault for the truck accident.       

     It is critical that an experienced truck accident attorney handle your case.  Truck accident cases are much more complex than a typical car accident case.  Commercial truck drivers are governed by a different set of rules than other drivers.  Our truck accident attorneys will thoroughly investigate your case.  It is imperative to obtain and analyze evidence relating to the trucking accident.  For example, our truck accident attorneys will obtain:

           

Las Vegas 18 wheel Diesel truck accident at traffic intersection

Las Vegas 18 wheel Diesel truck accident at traffic intersection

In some cases, commercial truck accidents occur because of driver error or fatigue.  Truck drivers may not pay attention to the road, and not notice oncoming traffic.  They may also force their way into oncoming traffic thinking that any car can stop prior to hitting them.  A common cause of truck accidents is driver fatigue.  Commercial truck drivers are sometimes paid for each delivery, so this encourages truck drivers to stay on the road instead of resting or taking a break.  These financial incentives encourage truck drivers to continue driving when they are tired and dangerous – leading to truck accidents.  It can also encourage truck drivers to skip necessary maintenance because they are in a hurry to continue with their delivery rather than stopping to have brakes checked or other maintenance performed in a timely manner.  Our truck accident attorneys are experienced in investigating these possible causes of a truck accident. 

          
Truck accident victims may be entitled to significant financial compensation for their injuries.  Our truck accident attorneys will work hard to get you all the money you deserve.  You may receive money for your medical bills, pain and suffering, lost wages, future medical treatment, and a host of other reasons depending upon your case.  If you have suffered an injury, please contact our truck accident attorneys immediately so we may begin getting you the money you deserve.

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Motorcycle Accidents

Saturday, August 1st, 2009

Las Vegas Motorcycle AccidentMotorcycle accidents cause severe injuries because the rider lacks the protective cocoon of an automobile. Cars are specifically designed to minimize injuries in a crash and utilize many safety features.  Motorcycles lack these basic safety measures such as seatbelts and air bags.  In addition, a small impact from a car can cause a motorcycle rider to lose control of his bike and suffer serious injuries. 
          Our motorcycle accident attorneys will review your motorcycle accident and determine who should be held responsible for any injuries you suffer.  There are three typical causes of accidents that our motorcycle accident attorneys handle.  First, another driver may cause the motorcycle accident.  Motorcycles are hard to see because they are small.  Unfortunately, aggressive drivers feel that a small motorcycle must move out of their way.  Car drivers may pull out in front of a motorcycle, or cut a motorcycle off, when they would never take that action in the face of another oncoming car or truck.  Our motorcycle accident attorneys will hold these aggressive drivers responsible for their actions.  Second, road conditions may cause a motorcycle accident.  Motorcycles are extremely vulnerable to road conditions.  

Las Vegas Motorcycle AccidentThe current construction on Las Vegas roadways and highways creates difficulties for riders.  Improperly marked roads or unsafe construction zones may appear suddenly and cause a motorcycle accident.  Our motorcycle accident attorneys will fully investigate the accident scene and determine who was responsible for any unsafe road condition.  Third, motorcycle equipment may cause a motorcycle accident or contribute to any injuries.  For example, faulty brakes or defective tires may be the primary cause of a particular motorcycle accident.  Protective clothing such as a helmet or riding clothing may also be defective, allowing injuries which should never have occurred.  Our motorcycle accident attorneys will investigate all possible factors causing the motorcycle accident and promptly pursue them to obtain the maximum compensation for an injured rider. 

  
Motorcycle accident victims may be entitled to significant financial compensation for their injuries.  Our motorcycle accident attorneys will work hard to get you all the money you deserve.  You may receive money for your medical bills, pain and suffering, lost wages, future medical treatment, and a host of other reasons depending upon your case.  If you have suffered an injury, please contact our motorcycle accident attorneys immediately so we may begin getting you the money you deserve.

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Slip and Fall

Saturday, August 1st, 2009

Slip and Fall Accidents
          A property or store owner is responsible for maintaining the location in a safe manner.  An individual may recover damages from a person who allows a dangerous or unsafe condition to exist on their property.  If a slip and fall accident happens, our slip and fall attorneys are available to assist you. 

 

         A slip and fall accident can happen anyplace there is an unsafe or dangerous condition.  Common locations include grocery stores, movie theatres, restaurants, department stores, and unmarked stairs or drop-offs.  Our slip and fall accident attorneys are able to evaluate your case and get you the maximum compensation for your injuries.  Slip and fall accident victims may be entitled to significant financial compensation for their injuries.  Our slip and fall accident attorneys will work hard to get you all the money you deserve.  You may receive money for your medical bills, pain and suffering, lost wages, future medical treatment, and a host of other reasons depending upon your case.  If you have suffered an injury, please contact our slip and fall accident attorneys immediately so we may begin getting you the money you deserve.

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Car Accidents

Saturday, August 1st, 2009

Car Accident, auto wreck. Collision with pole

       Car accidents in Las Vegas are an unfortunate reality.  The roads are plagued with overly aggressive drivers or drivers that do not pay attention to the road and their surroundings. Drivers like these cause accidents.
         Car accidents produce a wide range of injuries.  These range from broken bones caused by the traumatic forces of collisions, to soreness and stiffness associated with “whiplash.”  Our car accident attorneys frequently deal with insurance companies and notice they will typically try to deny all but the most obvious injuries.  Insurance companies will attempt to deny certain injuries that are difficult to diagnose, such as whiplash or other soft-tissue injuries.  They will also seek to refuse to reimburse medical expenses for diagnostic treatment such as an MRI or X-Rays.  However, when our experienced car accident attorneys contact the insurance companies, they know these delaying tactics will not work and that they cannot take further advantage of a victim.  Our car accident attorneys will work hard and force the insurance company to pay you all the money you deserve. 

       Unfortunately, car accidents frequently produce injuries.  An injured victim is first struck by another driver; and second victimized by an insurance company that refuses to pay the victim a proper settlement for their injuries.  Insurance companies have no incentive to properly compensate victims.  Insurance companies are not in business to pay money to victims, they are in business to make money.  Shortly after a collision, the insurance company may contact the victim and offer a small monetary settlement.  This is almost never a fair settlement, and the insurance companies hope the victim does not contact a car accident attorney.  Our car accident attorneys are able to get you the maximum compensation for your injuries, and prevent you from accepting a very unfair deal from a greedy insurance company. 

         Common injuries associated with car accidents are discussed in general “layman’s” terms below.  For a complete diagnosis and treatment, please consult with your treating physician.


  1. Herniated disc – A serious condition caused when the internal fluid from a disc in a victim’s spine leaks out of the disc.  This causes severe irritation to the nearby nerves.  The body identifies the leaking fluid as a foreign substance and attacks the fluid, causing extreme pain because the “battle” takes place on the nearby nerve roots.  Please feel free to contact your treating doctor or our car accident attorneys for additional helpful information. 
  2. Bulging or protruding disc – A “bulging” or “swelling” of the disc.  This condition is troubling because the swelling or bulging may cause the disc to push against a nearby nerve root.  This is associated with tingling or pain in the extremities, as well as back pain.  Please feel free to contact your treating doctor or our car accident attorneys for additional helpful information. 
  3. Annular tearing – An internal disruption of the disc in a victim’s spine.  It is associated with a ripping of the disc and is very painful because there is an abundance of nerves present in the area.  Annular tearing can produce severe back pain and possibly leg pain because the effected nerves travel to the legs.  Please feel free to contact your treating doctor or our car accident attorneys for additional helpful information. 
  4. Spinal cord injury – Any type of accident may cause an injury to the spinal cord.  This is a serious and life-altering injury.  It produces severe symptoms that will alter a person’s life.  Many times, a spinal cord injury produces paralysis or other loss of motion.  Unfortunately, many of these injuries are permanent and the victim will never recover fully from the accident.  Victims with a spinal injury may never be able to walk again.  In addition, the victim may require full-time care, such as a nurse, and may never be able to work again.  They will also require ongoing medical care and financial assistance for the rest of their lives.   Please feel free to contact your treating doctor or our car accident attorneys for additional helpful information. 
  5. Traumatic brain injury (TBI) – Any type of car accident injuring the head may cause a serious condition called Traumatic Brain Injury (TBI).  This is a serious and life-altering injury.  Traumatic Brain Injury is a serious brain injury that many individuals never recover from.  It produces severe symptoms and may alter a victim’s personality, motor skills, communication skills, speech, and ability to reason or think clearly.  Many victims of Traumatic Brain Injury are never able to work again.  They will also require ongoing medical care and financial assistance for the rest of their lives.   Please feel free to contact your treating doctor or our car accident attorneys for additional helpful information. 
  6. Other injuries – any part of the body can be injured in a car accident.  Some of the common injuries are discussed above.  For details on additional injuries, please contact our experienced car accident attorneys. 

Car accident victims may be entitled to significant financial compensation for their injuries.  Our car accident attorneys will work hard to get you all the money you deserve.  You may receive money for your medical bills, pain and suffering, lost wages, future medical treatment, and a host of other reasons depending upon your case.  If you have suffered an injury, please contact our car accident attorneys immediately so we may begin getting you the medical treatment and money you deserve.   

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Joshua Harmon

Saturday, August 1st, 2009

Joshua L. Harmon, Esq.

Joshua L. Harmon, Esq. is the principal of the Law Office of Joshua L. Harmon. He concentrates his practice in personal injury law.

Mr. Harmon earned his Juris Doctor degree from Washington and Lee School of Law and his Bachelor degree, with honors, from Franklin & Marshall College. While at Franklin & Marshall College, Mr. Harmon worked as a Symbolic Logic Tutor and Classical History Preceptor. Prior to practicing law, Mr. Harmon was a member of the United States Military and attended the United States Army Drill Sergeant’s School.

Mr. Harmon began his legal career at the law firm of Harmon & Davies, P.C. Corporate clients were attracted to his aggressive results-oriented approach to litigation. His notable clients included Mars, Inc., Kal Kan Foods, Masterfoods USA, Sysco, Uncle Ben’s, and Amoi Electronics. Mr. Harmon spent approximately twelve (12) years at Harmon & Davies honing his trial skills.

Mr. Harmon later departed and formed his own law firm concentrating in the area that he enjoyed most – helping injured individuals. He personally handles all aspects of each client’s case and relentlessly pushes each case towards the most favorable resolution.

Mr. Harmon is admitted to the Nevada Bar, California Bar, and Pennsylvania Bar. He is an active member of the Nevada Trial Lawyers Association. He enjoys outdoor activities and spending time with his two year old daughter.

Joshua L. Harmon, Esq. is the principal of the Law Office of Joshua L. Harmon. He concentrates his practice in personal injury law.

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Chapter 7

Saturday, August 1st, 2009

Chapter 7

Liquidation Under the Bankruptcy Code

The chapter of the Bankruptcy Code providing for “liquidation,” ( i.e., the sale of a debtor’s nonexempt property and the distribution of the proceeds to creditors.)

a. Alternatives to Chapter 7
b. Background
c. Chapter 7 Eligibility
d. How Chapter 7 Works
e. Role of the Case Trustee
f. The Chapter 7 Discharge

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Alternatives to Chapter 7

Debtors should be aware that there are several alternatives to chapter 7 relief. For example, debtors who are engaged in business, including corporations, partnerships, and sole proprietorships, may prefer to remain in business and avoid liquidation. Such debtors should consider filing a petition under chapter 11 of the Bankruptcy Code. Under chapter 11, the debtor may seek an adjustment of debts, either by reducing the debt or by extending the time for repayment, or may seek a more comprehensive reorganization. Sole proprietorships may also be eligible for relief under chapter 13 of the Bankruptcy Code.

In addition, individual debtors who have regular income may seek an adjustment of debts under chapter 13 of the Bankruptcy Code. A particular advantage of chapter 13 is that it provides individual debtors with an opportunity to save their homes from foreclosure by allowing them to “catch up” past due payments through a payment plan. Moreover, the court may dismiss a chapter 7 case filed by an individual whose debts are primarily consumer rather than business debts if the court finds that the granting of relief would be an abuse of chapter 7. 11 U.S.C. § 707(b).

If the debtor’s “current monthly income”(1) is more than the state median, the Bankruptcy Code requires application of a “means test” to determine whether the chapter 7 filing is presumptively abusive. Abuse is presumed if the debtor’s aggregate current monthly income over 5 years, net of certain statutorily allowed expenses, is more than (i) $10,950, or (ii) 25% of the debtor’s nonpriority unsecured debt, as long as that amount is at least $6,575. (2) The debtor may rebut a presumption of abuse only by a showing of special circumstances that justify additional expenses or adjustments of current monthly income. Unless the debtor overcomes the presumption of abuse, the case will generally be converted to chapter 13 (with the debtor’s consent) or will be dismissed. 11 U.S.C. § 707(b)(1).

Debtors should also be aware that out-of-court agreements with creditors or debt counseling services may provide an alternative to a bankruptcy filing.

Background

A chapter 7 bankruptcy case does not involve the filing of a plan of repayment as in chapter 13. Instead, the bankruptcy trustee gathers and sells the debtor’s nonexempt assets and uses the proceeds of such assets to pay holders of claims (creditors) in accordance with the provisions of the Bankruptcy Code. Part of the debtor’s property may be subject to liens and mortgages that pledge the property to other creditors. In addition, the Bankruptcy Code will allow the debtor to keep certain “exempt” property; but a trustee will liquidate the debtor’s remaining assets. Accordingly, potential debtors should realize that the filing of a petition under chapter 7 may result in the loss of property.

Chapter 7 Eligibility

To qualify for relief under chapter 7 of the Bankruptcy Code, the debtor may be an individual, a partnership, or a corporation or other business entity. 11 U.S.C. §§ 101(41), 109(b). Subject to the means test described above for individual debtors, relief is available under chapter 7 irrespective of the amount of the debtor’s debts or whether the debtor is solvent or insolvent. An individual cannot file under chapter 7 or any other chapter, however, if during the preceding 180 days a prior bankruptcy petition was dismissed due to the debtor’s willful failure to appear before the court or comply with orders of the court, or the debtor voluntarily dismissed the previous case after creditors sought relief from the bankruptcy court to recover property upon which they hold liens. 11 U.S.C. §§ 109(g), 362(d) and (e). In addition, no individual may be a debtor under chapter 7 or any chapter of the Bankruptcy Code unless he or she has, within 180 days before filing, received credit counseling from an approved credit counseling agency either in an individual or group briefing. 11 U.S.C. §§ 109, 111. There are exceptions in emergency situations or where the U.S. trustee (or bankruptcy administrator) has determined that there are insufficient approved agencies to provide the required counseling. If a debt management plan is developed during required credit counseling, it must be filed with the court.

One of the primary purposes of bankruptcy is to discharge certain debts to give an honest individual debtor a “fresh start.” The debtor has no liability for discharged debts. In a chapter 7 case, however, a discharge is only available to individual debtors, not to partnerships or corporations. 11 U.S.C. § 727(a)(1). Although an individual chapter 7 case usually results in a discharge of debts, the right to a discharge is not absolute, and some types of debts are not discharged. Moreover, a bankruptcy discharge does not extinguish a lien on property.

How Chapter 7 Works

A chapter 7 case begins with the debtor filing a petition with the bankruptcy court serving the area where the individual lives or where the business debtor is organized or has its principal place of business or principal assets. (3) In addition to the petition, the debtor must also file with the court: (1) schedules of assets and liabilities; (2) a schedule of current income and expenditures; (3) a statement of financial affairs; and (4) a schedule of executory contracts and unexpired leases. Fed. R. Bankr. P. 1007(b). Debtors must also provide the assigned case trustee with a copy of the tax return or transcripts for the most recent tax year as well as tax returns filed during the case (including tax returns for prior years that had not been filed when the case began). 11 U.S.C. § 521. Individual debtors with primarily consumer debts have additional document filing requirements. They must file: a certificate of credit counseling and a copy of any debt repayment plan developed through credit counseling; evidence of payment from employers, if any, received 60 days before filing; a statement of monthly net income and any anticipated increase in income or expenses after filing; and a record of any interest the debtor has in federal or state qualified education or tuition accounts. Id. A husband and wife may file a joint petition or individual petitions. 11 U.S.C. § 302(a). Even if filing jointly, a husband and wife are subject to all the document filing requirements of individual debtors. (The Official Forms may be purchased at legal stationery stores or downloaded from the internet at www.uscourts.gov/bkforms/index.html. They are not available from the court.)

The courts must charge a $245 case filing fee, a $39 miscellaneous administrative fee, and a $15 trustee surcharge. Normally, the fees must be paid to the clerk of the court upon filing. With the court’s permission, however, individual debtors may pay in installments. 28 U.S.C. § 1930(a); Fed. R. Bankr. P. 1006(b); Bankruptcy Court Miscellaneous Fee Schedule, Item 8. The number of installments is limited to four, and the debtor must make the final installment no later than 120 days after filing the petition. Fed. R. Bankr. P. 1006. For cause shown, the court may extend the time of any installment, provided that the last installment is paid not later than 180 days after filing the petition. Id. The debtor may also pay the $39 administrative fee and the $15 trustee surcharge in installments. If a joint petition is filed, only one filing fee, one administrative fee, and one trustee surcharge are charged. Debtors should be aware that failure to pay these fees may result in dismissal of the case. 11 U.S.C. § 707(a).

If the debtor’s income is less than 150% of the poverty level (as defined in the Bankruptcy Code), and the debtor is unable to pay the chapter 7 fees even in installments, the court may waive the requirement that the fees be paid. 28 U.S.C. § 1930(f).

In order to complete the Official Bankruptcy Forms that make up the petition, statement of financial affairs, and schedules, the debtor must provide the following information:

1. A list of all creditors and the amount and nature of their claims;
2. The source, amount, and frequency of the debtor’s income;
3. A list of all of the debtor’s property; and
4. A detailed list of the debtor’s monthly living expenses, i.e., food, clothing, shelter, utilities, taxes, transportation, medicine, etc.
Married individuals must gather this information for their spouse regardless of whether they are filing a joint petition, separate individual petitions, or even if only one spouse is filing. In a situation where only one spouse files, the income and expenses of the non-filing spouse is required so that the court, the trustee and creditors can evaluate the household’s financial position.

Among the schedules that an individual debtor will file is a schedule of “exempt” property. The Bankruptcy Code allows an individual debtor (4) to protect some property from the claims of creditors because it is exempt under federal bankruptcy law or under the laws of the debtor’s home state. 11 U.S.C. § 522(b). Many states have taken advantage of a provision in the Bankruptcy Code that permits each state to adopt its own exemption law in place of the federal exemptions. In other jurisdictions, the individual debtor has the option of choosing between a federal package of exemptions or the exemptions available under state law. Thus, whether certain property is exempt and may be kept by the debtor is often a question of state law. The debtor should consult an attorney to determine the exemptions available in the state where the debtor lives.

Filing a petition under chapter 7 “automatically stays” (stops) most collection actions against the debtor or the debtor’s property. 11 U.S.C. § 362. But filing the petition does not stay certain types of actions listed under 11 U.S.C. § 362(b), and the stay may be effective only for a short time in some situations. The stay arises by operation of law and requires no judicial action. As long as the stay is in effect, creditors generally may not initiate or continue lawsuits, wage garnishments, or even telephone calls demanding payments. The bankruptcy clerk gives notice of the bankruptcy case to all creditors whose names and addresses are provided by the debtor.

Between 20 and 40 days after the petition is filed, the case trustee (described below) will hold a meeting of creditors. If the U.S. trustee or bankruptcy administrator (5) schedules the meeting at a place that does not have regular U.S. trustee or bankruptcy administrator staffing, the meeting may be held no more than 60 days after the order for relief. Fed. R. Bankr. P. 2003(a). During this meeting, the trustee puts the debtor under oath, and both the trustee and creditors may ask questions. The debtor must attend the meeting and answer questions regarding the debtor’s financial affairs and property. 11 U.S.C. § 343. If a husband and wife have filed a joint petition, they both must attend the creditors’ meeting and answer questions. Within 10 days of the creditors’ meeting, the U.S. trustee will report to the court whether the case should be presumed to be an abuse under the means test described in 11 U.S.C. § 704(b).

It is important for the debtor to cooperate with the trustee and to provide any financial records or documents that the trustee requests. The Bankruptcy Code requires the trustee to ask the debtor questions at the meeting of creditors to ensure that the debtor is aware of the potential consequences of seeking a discharge in bankruptcy such as the effect on credit history, the ability to file a petition under a different chapter, the effect of receiving a discharge, and the effect of reaffirming a debt. Some trustees provide written information on these topics at or before the meeting to ensure that the debtor is aware of this information. In order to preserve their independent judgment, bankruptcy judges are prohibited from attending the meeting of creditors. 11 U.S.C. § 341(c).

In order to accord the debtor complete relief, the Bankruptcy Code allows the debtor to convert a chapter 7 case to case under chapter 11, 12 or 13 (6) as long as the debtor is eligible to be a debtor under the new chapter. However, a condition of the debtor’s voluntary conversion is that the case has not previously been converted to chapter 7 from another chapter. 11 U.S.C. § 706(a). Thus, the debtor will not be permitted to convert the case repeatedly from one chapter to another.

Role of the Case Trustee

When a chapter 7 petition is filed, the U.S. trustee (or the bankruptcy court in Alabama and North Carolina) appoints an impartial case trustee to administer the case and liquidate the debtor’s nonexempt assets. 11 U.S.C. §§ 701, 704. If all the debtor’s assets are exempt or subject to valid liens, the trustee will normally file a “no asset” report with the court, and there will be no distribution to unsecured creditors. Most chapter 7 cases involving individual debtors are no asset cases. But if the case appears to be an “asset” case at the outset, unsecured creditors (7) must file their claims with the court within 90 days after the first date set for the meeting of creditors. Fed. R. Bankr. P. 3002(c). A governmental unit, however, has 180 days from the date the case is filed to file a claim. 11 U.S.C. § 502(b)(9). In the typical no asset chapter 7 case, there is no need for creditors to file proofs of claim because there will be no distribution. If the trustee later recovers assets for distribution to unsecured creditors, the Bankruptcy Court will provide notice to creditors and will allow additional time to file proofs of claim. Although a secured creditor does not need to file a proof of claim in a chapter 7 case to preserve its security interest or lien, there may be other reasons to file a claim. A creditor in a chapter 7 case who has a lien on the debtor’s property should consult an attorney for advice.

Commencement of a bankruptcy case creates an “estate.” The estate technically becomes the temporary legal owner of all the debtor’s property. It consists of all legal or equitable interests of the debtor in property as of the commencement of the case, including property owned or held by another person if the debtor has an interest in the property. Generally speaking, the debtor’s creditors are paid from nonexempt property of the estate.

The primary role of a chapter 7 trustee in an asset case is to liquidate the debtor’s nonexempt assets in a manner that maximizes the return to the debtor’s unsecured creditors. The trustee accomplishes this by selling the debtor’s property if it is free and clear of liens (as long as the property is not exempt) or if it is worth more than any security interest or lien attached to the property and any exemption that the debtor holds in the property. The trustee may also attempt to recover money or property under the trustee’s “avoiding powers.” The trustee’s avoiding powers include the power to: set aside preferential transfers made to creditors within 90 days before the petition; undo security interests and other prepetition transfers of property that were not properly perfected under nonbankruptcy law at the time of the petition; and pursue nonbankruptcy claims such as fraudulent conveyance and bulk transfer remedies available under state law. In addition, if the debtor is a business, the bankruptcy court may authorize the trustee to operate the business for a limited period of time, if such operation will benefit creditors and enhance the liquidation of the estate. 11 U.S.C. § 721.

Section 726 of the Bankruptcy Code governs the distribution of the property of the estate. Under § 726, there are six classes of claims; and each class must be paid in full before the next lower class is paid anything. The debtor is only paid if all other classes of claims have been paid in full. Accordingly, the debtor is not particularly interested in the trustee’s disposition of the estate assets, except with respect to the payment of those debts which for some reason are not dischargeable in the bankruptcy case. The individual debtor’s primary concerns in a chapter 7 case are to retain exempt property and to receive a discharge that covers as many debts as possible.

The Chapter 7 Discharge

A discharge releases individual debtors from personal liability for most debts and prevents the creditors owed those debts from taking any collection actions against the debtor. Because a chapter 7 discharge is subject to many exceptions, though, debtors should consult competent legal counsel before filing to discuss the scope of the discharge. Generally, excluding cases that are dismissed or converted, individual debtors receive a discharge in more than 99 percent of chapter 7 cases. In most cases, unless a party in interest files a complaint objecting to the discharge or a motion to extend the time to object, the bankruptcy court will issue a discharge order relatively early in the case – generally, 60 to 90 days after the date first set for the meeting of creditors. Fed. R. Bankr. P. 4004(c).

The grounds for denying an individual debtor a discharge in a chapter 7 case are narrow and are construed against the moving party. Among other reasons, the court may deny the debtor a discharge if it finds that the debtor: failed to keep or produce adequate books or financial records; failed to explain satisfactorily any loss of assets; committed a bankruptcy crime such as perjury; failed to obey a lawful order of the bankruptcy court; fraudulently transferred, concealed, or destroyed property that would have become property of the estate; or failed to complete an approved instructional course concerning financial management. 11 U.S.C. § 727; Fed. R. Bankr. P. 4005.

Secured creditors may retain some rights to seize property securing an underlying debt even after a discharge is granted. Depending on individual circumstances, if a debtor wishes to keep certain secured property (such as an automobile), he or she may decide to “reaffirm” the debt. A reaffirmation is an agreement between the debtor and the creditor that the debtor will remain liable and will pay all or a portion of the money owed, even though the debt would otherwise be discharged in the bankruptcy. In return, the creditor promises that it will not repossess or take back the automobile or other property so long as the debtor continues to pay the debt.

If the debtor decides to reaffirm a debt, he or she must do so before the discharge is entered. The debtor must sign a written reaffirmation agreement and file it with the court. 11 U.S.C. § 524(c). The Bankruptcy Code requires that reaffirmation agreements contain an extensive set of disclosures described in 11 U.S.C. § 524(k). Among other things, the disclosures must advise the debtor of the amount of the debt being reaffirmed and how it is calculated and that reaffirmation means that the debtor’s personal liability for that debt will not be discharged in the bankruptcy. The disclosures also require the debtor to sign and file a statement of his or her current income and expenses which shows that the balance of income paying expenses is sufficient to pay the reaffirmed debt. If the balance is not enough to pay the debt to be reaffirmed, there is a presumption of undue hardship, and the court may decide not to approve the reaffirmation agreement. Unless the debtor is represented by an attorney, the bankruptcy judge must approve the reaffirmation agreement.

If the debtor was represented by an attorney in connection with the reaffirmation agreement, the attorney must certify in writing that he or she advised the debtor of the legal effect and consequences of the agreement, including a default under the agreement. The attorney must also certify that the debtor was fully informed and voluntarily made the agreement and that reaffirmation of the debt will not create an undue hardship for the debtor or the debtor’s dependants. 11 U.S.C. § 524(k). The Bankruptcy Code requires a reaffirmation hearing if the debtor has not been represented by an attorney during the negotiating of the agreement, or if the court disapproves the reaffirmation agreement.11 U.S.C. § 524(d) and (m). The debtor may repay any debt voluntarily, however, whether or not a reaffirmation agreement exists. 11 U.S.C. § 524(f).

An individual receives a discharge for most of his or her debts in a chapter 7 bankruptcy case. A creditor may no longer initiate or continue any legal or other action against the debtor to collect a discharged debt. But not all of an individual’s debts are discharged in chapter 7. Debts not discharged include debts for alimony and child support, certain taxes, debts for certain educational benefit overpayments or loans made or guaranteed by a governmental unit, debts for willful and malicious injury by the debtor to another entity or to the property of another entity, debts for death or personal injury caused by the debtor’s operation of a motor vehicle while the debtor was intoxicated from alcohol or other substances, and debts for certain criminal restitution orders.11 U.S.C. § 523(a). The debtor will continue to be liable for these types of debts to the extent that they are not paid in the chapter 7 case. Debts for money or property obtained by false pretenses, debts for fraud or defalcation while acting in a fiduciary capacity, and debts for willful and malicious injury by the debtor to another entity or to the property of another entity will be discharged unless a creditor timely files and prevails in an action to have such debts declared nondischargeable. 11 U.S.C. § 523(c); Fed. R. Bankr. P. 4007(c).

The court may revoke a chapter 7 discharge on the request of the trustee, a creditor, or the U.S. trustee if the discharge was obtained through fraud by the debtor, if the debtor acquired property that is property of the estate and knowingly and fraudulently failed to report the acquisition of such property or to surrender the property to the trustee, or if the debtor (without a satisfactory explanation) makes a material misstatement or fails to provide documents or other information in connection with an audit of the debtor’s case. 11 U.S.C. § 727(d).

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NOTES

1. The “current monthly income” received by the debtor is a defined term in the Bankruptcy Code and means the average monthly income received over the six calendar months before commencement of the bankruptcy case, including regular contributions to household expenses from nondebtors and including income from the debtor’s spouse if the petition is a joint petition, but not including social security income or certain payments made because the debtor is the victim of certain crimes. 11 U.S.C. § 101(10A). return to text
2. To determine whether a presumption of abuse arises, all individual debtors with primarily consumer debts who file a chapter 7 case must complete Official Bankruptcy Form B22A, entitled “Statement of Current Monthly Income and Means Test Calculation – For Use in Chapter 7.” (The Official Forms may be purchased at legal stationery stores or downloaded from the internet at www.uscourts.gov/bkforms/index.html. They are not available from the court.) return to text
3. An involuntary chapter 7 case may be commenced under certain circumstances by a petition filed by creditors holding claims against the debtor. 11 U.S.C. § 303. return to text
4. Each debtor in a joint case (both husband and wife) can claim exemptions under the federal bankruptcy laws. 11 U.S.C. § 522(m). return to text
5. In North Carolina and Alabama, bankruptcy administrators perform similar functions that U.S. trustees perform in the remaining 48 states. These duties include establishing a panel of private trustees to serve as trustees in chapter 7 cases and supervising the administration of cases and trustees in cases under chapters 7, 11, 12, and 13 of the Bankruptcy Code. The bankruptcy administrator program is administered by the Administrative Office of the United States Courts, while the U.S. trustee program is administered by the Department of Justice. For purposes of this publication, references to U.S. trustees are also applicable to bankruptcy administrators. return to text
6. A fee is charged for converting, on request of the debtor, a case under chapter 7 to a case under chapter 11. The fee charged is the difference between the filing fee for a chapter 7 and the filing fee for a chapter 11. 28 U.S.C. § 1930(a). Currently, the difference is $755. Id. There is no fee for converting from chapter 7 to chapter 13. return to text
7. Unsecured debts generally may be defined as those for which the extension of credit was based purely upon an evaluation by the creditor of the debtor’s ability to pay, as opposed to secured debts, for which the extension of credit was based upon the creditor’s right to seize collateral on default, in addition to the debtor’s ability to pay. return to text

 

 

 

Source:  http://www.uscourts.gov/bankruptcycourts/bankruptcybasics/process.html

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New FHA-Making Home Affordable Loan Modification Guidelines

Saturday, August 1st, 2009

Press Releases

July 28, 2009

HUD Secretary Donovan Announces New FHA-Making Home Affordable Loan Modification Guidelines

New FHA guidelines projected to help thousands avoid foreclosure per year WASHINGTON – U.S. Department of Housing and Urban Development Secretary Shaun Donovan today announced the Federal Housing Administration (FHA) has implemented changes to its loan modification program to ensure consistency with the Obama Administration’s Home Affordable Modification Program. By August 15, FHA borrowers will be able to significantly reduce their monthly mortgage payments by seeking a loan modification through their current mortgage company or loan servicer under the new FHA-Home Affordable Modification Program (FHA-HAMP).

“Today, we’re bringing another important tool to the table to help struggling families who are desperate to keep their homes,” said Donovan. “Tens of thousands of FHA borrowers will now be able to modify their mortgages in the same manner as so many others who are taking advantage of the Administration’’s Making Home Affordable program. This is just the latest tool we are providing to help homeowners prevent foreclosures through the Making Home Affordable program. Earlier this month we announced an expansion of the Home Affordable Refinance Program to borrowers who are up to 125 percent underwater. Together, these actions will significantly increase the help available to homeowners.”

The Helping Families Save Their Homes Act of 2009, signed into law on May 20, allows FHA to give qualified FHA-insured borrowers the opportunity to reduce their monthly mortgage payment by modifying the mortgage through FHA-HAMP. FHA released the program’s implementation guidelines today. FHA expects all servicers to implement the changes by August 15. The program permanently reduces a family’s monthly mortgage payment through the use of a partial claim, which defers the repayment of mortgage principal through an interest-free subordinate mortgage that is not due until the first mortgage is paid off.

FHA has used the partial claim option in the past, which allows a lender to advance funds on behalf of a borrower, to reinstate a delinquent loan that was up to 12 months delinquent. Now, this program will allow HUD to bring the borrower’s payment down to an affordable level. This will be accomplished by bringing the mortgage current, buying down the loan by up to 30 percent of the unpaid principal balance and deferring these amounts in a partial claim.

FHA will pay an incentive to loan servicers for each FHA loan modified under this program. A Mortgagee Letter, along with detailed requirements for the FHA-Home Affordable Modification Program, was distributed to all FHA lenders today. The implementation of this program will further the Obama Administration’s efforts to stabilize the housing market by helping homeowners to stay current on their mortgages and stay in their homes, therefore preventing the destructive impact of foreclosures on families and communities.

Making Home Affordable, a comprehensive plan to stabilize the U.S. housing market, was first announced by the Obama Administration on February 18. More than 200,000 trial loan modifications are already underway, tens of thousands of refinancings have closed, and informational mailings about the program have been sent to more than one million borrowers who may be eligible.

FHA borrowers who are experiencing difficulty making their mortgage payments should contact their loan servicer or HUD’s National Servicing Center at (888) 297-8685 to determine if they qualify for the FHA-Home Affordable Modification Program. The Mortgagee Letter, with detailed information about the program, is available on the HUD website. Non-FHA borrowers can find information about the Obama Administration’s Making Home Affordable program at www.makinghomeaffordable.gov.

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HUD is the nation’s housing agency committed to sustaining homeownership; creating affordable housing opportunities for low-income Americans; and supporting the homeless, elderly, people with disabilities and people living with AIDS. The Department also promotes economic and community development and enforces the nation’s fair housing laws. More information about HUD and its programs is available on the Internet at www.hud.gov and espanol.hud.gov.

 

 

 

Source: http://www.makinghomeaffordable.gov/pr_07302009.html

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Q1 2009 Realty Trac

Saturday, August 1st, 2009

Foreclosure Activity Increases 9 Percent in First Quarter According to RealtyTrac(R) U.S. Foreclosure Market Report

 
   U.S. Foreclosure Market Report Q1 2009 Heat Map. (PRNewsFoto/RealtyTrac Inc.)
 
IRVINE, CA UNITED STATES
   

  

 

    U.S. Foreclosure Activity Up 24 Percent From Q1 2008

    March Activity Up 17 Percent From February, 46 Percent From March 2008

    IRVINE, Calif., April 16 /PRNewswire/ -- RealtyTrac(R)
(http://www.realtytrac.com), the leading online marketplace for foreclosure
properties, today released its U.S. Foreclosure Market Report(TM) for Q1
2009, which shows that foreclosure filings -- default notices, auction sale
notices and bank repossessions -- were reported on 803,489 properties in
the first quarter, a 9 percent increase from the previous quarter and an
increase of nearly 24 percent from Q1 2008. One in every 159 U.S. housing
units received a foreclosure filing during the quarter.

    Foreclosure filings were reported on 341,180 properties in March, a 17
percent increase from the previous month and a 46 percent increase from
March 2008. The March and Q1 2009 totals were the highest monthly and
quarterly totals since RealtyTrac began issuing its report in January 2005
despite a decrease in bank repossessions (REOs), which were down 13 percent
from the fourth quarter of 2008 and 3 percent from February totals.

    "In the month of March we saw a record level of foreclosure activity --
the number of households that received a foreclosure filing was more than
12 percent higher than the next highest month on record. Since much of this
activity was in new foreclosure actions, it suggests that many lenders and
servicers were holding off on executing foreclosures due to industry
moratoria and legislative delays," said James J. Saccacio, chief executive
officer of RealtyTrac. "It's also likely that the drop in REO activity can
be attributed to these processing delays, rather than to any of the
foreclosure prevention programs currently in place. It's very likely that
we'll see the number of REOs increase again now that most of the moratoria
have been lifted."

    "On a positive note, it appears that demand is up in some of the
harder-hit areas, particularly on bank-owned REO properties that first time
homebuyers and investors see as bargains," Saccacio continued. "But it's
unlikely that this increased demand will be enough to offset the growing
number of foreclosures in the pipeline, accelerated by rising unemployment
rates."

    Nevada, Arizona, California post top state foreclosure rates in first
quarter

    Nevada continued to document the nation's highest state foreclosure
rate in the first quarter, with one in every 27 housing units receiving a
foreclosure filing -- more than five times the national average.
Foreclosure filings were reported on 41,296 Nevada properties during the
quarter, an increase of 19 percent from the previous quarter and an
increase of nearly 111 percent from Q1 2008. Bank repossessions in Nevada
were down 3 percent from the previous quarter, but defaults increased 27
percent and auction sale notices increased 35 percent.

    Arizona posted the nation's second highest state foreclosure rate for
the first quarter, with one in every 54 housing units receiving a
foreclosure filing, and California posted the nation's third highest state
foreclosure rate, with one in every 58 housing units receiving a
foreclosure filing.

    Other states with foreclosure rates ranking among the top 10 in the
first quarter were Florida, Illinois, Michigan, Georgia, Idaho, Utah and
Oregon.

    Five states account for nearly 60 percent of nation's first quarter
total

    California, Florida, Arizona, Nevada and Illinois accounted for nearly
60 percent of the nation's foreclosure activity in the first quarter, with
479,516 properties receiving foreclosure filings in the five states
combined.

    With 230,915 properties receiving foreclosure filings during the
quarter, California accounted for nearly 29 percent of the nation's total.
The state's foreclosure activity increased 35 percent from the previous
quarter and 36 percent from Q1 2008, and the first-quarter total was
state's highest quarterly total since RealtyTrac began issuing its report
in the first quarter of 2005.

    Despite a 12 percent decrease from the previous quarter, Florida's
first quarter total was still second highest in the nation. Foreclosure
filings were reported on 119,220 Florida properties, a 36 percent increase
from the first quarter of 2008. The state posted the nation's fourth
highest state foreclosure rate during the quarter, with one in every 73
housing units receiving a foreclosure filing.

    Foreclosure filings were reported on 49,119 Arizona properties in the
first quarter of 2009, the third highest total among the states, and 41,296
Nevada properties received a foreclosure filing in the first quarter of
2009, the fourth highest total among the states.

    Illinois posted the nation's fifth highest total, with 38,966
properties receiving a foreclosure filing during the first quarter -- a 32
percent increase from the previous quarter and a 68 percent increase from
the first quarter of 2008. With one in every 135 housing units receiving a
foreclosure filing, the state's foreclosure rate also ranked fifth highest
among the states.

    Rounding out the states with the 10 highest foreclosure activity totals
in Q1 2009 were Michigan, Ohio, Georgia, Texas and Virginia.

    Report methodology

    The RealtyTrac U.S. Foreclosure Market Report provides a count of the
total number of properties with at least one foreclosure filing reported
during the month or quarter -- broken out by type of filing at the state
and national level. Data is also available at the individual county level
for both Q1 2009 and March 2009. Data is collected from more than 2,200
counties nationwide, and those counties account for more than 90 percent of
the U.S. population. RealtyTrac's report incorporates documents filed in
all three phases of foreclosure: Default -- Notice of Default (NOD) and Lis
Pendens (LIS); Auction -- Notice of Trustee Sale and Notice of Foreclosure
Sale (NTS and NFS); and Real Estate Owned, or REO properties (that have
been foreclosed on and repurchased by a bank). If more than one foreclosure
document is filed against a property during the month or quarter, only the
most recent filing is counted in the report.

                      U.S. Foreclosure Market Data by State - Q1 2009

                            Properties with Foreclosure Filings

    Rate State
    Rank Name                   NOD          LIS       NTS         NFS
    --   U.S.                156,933      149,852    225,752     80,409
    35   Alabama                   0            0      2,291          0
    33   Alaska                    0            0        349          0
     2   Arizona                  21            0     35,079          0
    20   Arkansas                536            0      2,973          0
     3   California          124,875            0     60,256          0
    12   Colorado                  7            0      9,186          0
    15   Connecticut               0        4,256         16        461
    31   Delaware                  0            1          6        607
         District of Columbia    274            0        400          0
     4   Florida                   0       70,114        183     33,035
     7   Georgia                   1            0     18,938          0
    26   Hawaii                  300            0      1,094          0
     8   Idaho                 2,141            0      1,954          0
     5   Illinois                  0       19,848        120     11,612
    14   Indiana                   0        4,588         93      4,523
    38   Iowa                      0            0        718          0
    32   Kansas                    0          335         16        915
    42   Kentucky                  0          116         28      1,003
    40   Louisiana                 0            9         19      1,507
    39   Maine                   206           81        281        144
    16   Maryland                  0        6,547         21      1,584
    27   Massachusetts             0        4,282         11      1,401
     6   Michigan                791            0     21,863          0
    25   Minnesota                 8            0      3,750          0
    44   Mississippi               0            0        630          0
    28   Missouri                 32            0      4,003          0
    47   Montana                   0            0         23          0
    48   Nebraska                  0          161         10         18
     1   Nevada               20,534            0     10,320          0
    19   New Hampshire             0            0      1,648          0
    24   New Jersey                0        7,254         16      2,771
    41   New Mexico                0          294          4        266
    37   New York                  0        7,647         15      2,296
    36   North Carolina          514            0      2,253          0
    45   North Dakota              0            0          1         44
    11   Ohio                      0       12,279        137     10,398
    34   Oklahoma                802            0      1,249          0
    10   Oregon                3,166            0      5,465          0
    30   Pennsylvania              0        4,477         27      4,277
    18   Rhode Island              0            0        830          0
    23   South Carolina            0        3,196         29      1,372
    49   South Dakota              0            0          1         92
    17   Tennessee                 1            0      5,753          0
    29   Texas                    34            0     14,564          0
     9   Utah                  2,396            0      1,982          0
    50   Vermont                   0            0          1          0
    13   Virginia                294            0      9,858          0
    21   Washington                0            0      6,810          0
    46   West Virginia             0            0        285          0
    22   Wisconsin                 0        4,367         67      2,083
    43   Wyoming                   0            0        126          0

                                                 1/every  % change % change
    Rate State                                     X HU     from     from
    Rank Name                   REO       Total   (rate)    Q4 08    Q1 08
    --   U.S.                190,543    803,489     159      9.16    23.63
    35   Alabama               1,378      3,669     582     74.71   115.82*
    33   Alaska                  202        551     512    -24.31    14.55
     2   Arizona              14,019     49,119      54      6.22    79.24
    20   Arkansas              1,072      4,581     281     -3.23    22.09
     3   California           45,784    230,915      58     35.13    35.97
    12   Colorado              3,412     12,605     169    -13.84   -33.64
    15   Connecticut           1,143      5,876     245     -6.76   -23.01
    31   Delaware                214        828     469      2.60    54.19
         District of Columbia    163        837     340      4.23   -23.14
     4   Florida              15,888    119,220      73    -12.19    35.64
     7   Georgia               9,669     28,608     138     10.66     0.37
    26   Hawaii                  160      1,554     326     25.32   318.87
     8   Idaho                   198      4,293     147     15.56   137.18*
     5   Illinois              7,386     38,966     135     31.66    67.85
    14   Indiana               3,253     12,457     223     -6.01   -10.61
    38   Iowa                    854      1,572     846     -8.92     0.38
    32   Kansas                1,285      2,551     478     35.55    82.74
    42   Kentucky                588      1,735   1,099     -3.29     9.67
    40   Louisiana               436      1,971     943     15.87     1.70
    39   Maine                    64        776     898    -14.25    32.20
    16   Maryland              1,137      9,289     250     -7.39   -18.47
    27   Massachusetts         2,499      8,193     332     -9.16   -49.94
     6   Michigan             10,530     33,184     136     -1.98    12.32
    25   Minnesota             3,415      7,173     321      7.83    69.53
    44   Mississippi             138        768   1,634     57.38    67.69*
    28   Missouri              3,256      7,291     363    -13.75t  -17.55t
    47   Montana                 130        153   2,847    -44.96   -63.66
    48   Nebraska                 33        222   3,517     29.07   -70.08
     1   Nevada               10,442     41,296      27     19.13   110.75
    19   New Hampshire           577      2,225     267      4.26    24.44
    24   New Jersey            1,668     11,709     299    -29.17   -10.65
    41   New Mexico              253        817   1,055      6.80   -30.88
    37   New York              1,059     11,017     721     31.69   -23.37
    36   North Carolina        3,221      5,988     689    -19.69   -41.77
    45   North Dakota             76        121   2,567     -4.72   142.00*
    11   Ohio                  8,781     31,595     160     -3.14     1.10
    34   Oklahoma                861      2,912     557      1.68   -10.10
    10   Oregon                1,916     10,547     153     29.41   151.00*
    30   Pennsylvania          3,016     11,797     464      5.36    99.92*
    18   Rhode Island            881      1,711     264    -23.79     8.22
    23   South Carolina        2,419      7,016     288     27.10   261.84*
    49   South Dakota              3         96   3,721    -20.66    50.00
    17   Tennessee             4,608     10,362     263      2.03   -16.36tt
    29   Texas                10,661     25,259     373     14.87   -25.03
     9   Utah                  1,765      6,143     151     12.47    86.77
    50   Vermont                  20         21  14,830    -59.62   600.00*
    13   Virginia              4,573     14,725     222    -10.73t   11.97t
    21   Washington            2,903      9,713     283      2.69    46.32
    46   West Virginia            50        335   2,635     95.91   134.27
    22   Wisconsin             2,393      8,910     287     57.70    57.09*
    43   Wyoming                  91        217   1,117    -11.07    32.32

    *Actual increase may not be as high due to data collection changes or
    Improvements

    t Collection of some records previously classified as NOD in this state
    was discontinued starting in January 2009

    tt Collection of some records previously classified as NOD in this state
    was discontinued starting in September 2008

    U.S. Foreclosure Rates Heat Map - Q1 2009

    (Photo: http://www.newscom.com/cgi-bin/prnh/20090416/LA99849)

                      U.S. Foreclosure Market Data by State - March 2009

                             Properties with Foreclosure Filings

    Rate State
    Rank Name                    NOD        LIS         NTS           NFS
    --   U.S.                 72,790     58,741     104,856        33,042
    29   Alabama                   0          0       1,655             0
    33   Alaska                    0          0         155             0
     3   Arizona                   3          0      14,012             0
    18   Arkansas                234          0       1,203             0
     2   California           58,858          0      34,575             0
    10   Colorado                  2          0       3,703             0
    13   Connecticut               0      2,187           0           158
    28   Delaware                  0          0           0           339
         District of Columbia     98          0         153             0
     4   Florida                   0     26,964           0        13,566
     5   Georgia                   0          0       8,136             0
    21   Hawaii                  149          0         509             0
     7   Idaho                 1,133          0         726             0
     8   Illinois                  0      7,362           0         4,740
    14   Indiana                   0      1,964           1         1,587
    40   Iowa                      0          0         181             0
    34   Kansas                    0        170           0           305
    42   Kentucky                  0         15           0           398
    37   Louisiana                 0          7           0           740
    41   Maine                     0         81           0           144
    20   Maryland                  0      2,210           0           732
    31   Mass.                     0      1,708           0           456
     9   Michigan                  0          0       8,286             0
    24   Minnesota                 2          0       1,929             0
    46   Mississippi               0          0         179             0
    30   Missouri                  3          0       1,630             0
    48   Montana                   0          0           6             0
    44   Nebraska                  0        161           0             6
     1   Nevada               10,351          0       5,055             0
    23   New Hampshire             0          0         617             0
    25   New Jersey                0      2,748           0         1,098
    39   New Mexico                0        134           0            93
    36   New York                  0      3,459           0           721
    38   North Carolina          213          0         653             0
    47   North Dakota              0          0           0            22
    11   Ohio                      0      4,828           0         4,447
    35   Oklahoma                324          0         580             0
    12   Oregon                   28          0       2,766             0
    32   Pennsylvania              0      1,777           0         1,891
    22   Rhode Island              0          0         300             0
    26   South Carolina            0      1,069           0           485
    49   South Dakota              0          0           0            24
    16   Tennessee                 0          0       2,496             0
    27   Texas                    16          0       7,151             0
     6   Utah                  1,372          0       1,013             0
    50   Vermont                   0          0           0             0
    15   Virginia                  4          0       3,971             0
    17   Washington                0          0       3,031             0
    45   West Virginia             0          0         135             0
    19   Wisconsin                 0      1,897           0         1,090
    43   Wyoming                   0          0          49             0

                                                    % change      % change
    Rate State                                        from          from
    Rank Name                  REO        Total       Feb 09        Mar 08
    --   U.S.                 71,751     341,180       17.46         46.37
    29   Alabama                 605       2,260      216.97*       248.23*
    33   Alaska                   69         224       10.34         16.67
     3   Arizona               4,861      18,876        4.18        105.20
    18   Arkansas                486       1,923       19.00         58.93
     2   California           14,352     107,785       33.44         66.56
    10   Colorado              1,875       5,580       32.26         -9.71
    13   Connecticut             540       2,885       29.95         35.70
    28   Delaware                 92         431       57.88        124.48
         District of Columbia     77         328      -13.46          6.84
     4   Florida               6,601      47,131        1.60         55.78
     5   Georgia               5,230      13,366       31.23         20.99
    21   Hawaii                   66         724       34.82        503.33
     7   Idaho                    62       1,921        8.90        192.39*
     8   Illinois              3,296      15,398        8.30         78.57
    14   Indiana               1,574       5,126       16.34          0.14
    40   Iowa                    305         486      -16.06         -5.08
    34   Kansas                  369         844      -27.92         18.87
    42   Kentucky                218         631        5.52         -8.68
    37   Louisiana               200         947       39.68         51.28
    41   Maine                    24         249       -4.60         27.04
    20   Maryland                392       3,334        4.97        -22.01
    31   Mass.                   508       2,672       -9.12        -52.05
     9   Michigan              4,131      12,417       -1.17         30.79
    24   Minnesota             1,146       3,077       19.54        132.58
    46   Mississippi              42         221      -24.83         17.55
    30   Missouri              1,082       2,715      -13.23        -19.39t
    48   Montana                  56          62       14.81        -59.74
    44   Nebraska                 16         183     1307.69        -33.21
     1   Nevada                4,443      19,849       25.76        159.16
    23   New Hampshire           207         824       11.50         99.03
    25   New Jersey              724       4,570       39.37          1.96
    39   New Mexico              119         346       -7.24          1.17
    36   New York                329       4,509       10.84        -11.38
    38   North Carolina        1,111       1,977       -3.04        -40.05
    47   North Dakota             31          53       43.24        562.50*
    11   Ohio                  3,336      12,611       12.29         11.87
    35   Oklahoma                215       1,119        8.64        -22.67
    12   Oregon                  594       3,388       -6.10        107.47*
    32   Pennsylvania          1,275       4,943       17.92         70.45*
    22   Rhode Island            333         633       54.77         59.05
    26   South Carolina          812       2,366       -4.33        153.86*
    49   South Dakota              1          25      -21.88         56.25
    16   Tennessee             1,925       4,421       19.78         13.16tt
    27   Texas                 3,449      10,616        0.85         -0.79
     6   Utah                    700       3,085       70.91        150.81
    50   Vermont                   4           4      -63.64        100.00*
    15   Virginia              1,780       5,755       19.32         16.66t
    17   Washington            1,205       4,236       37.71         89.62
    45   West Virginia            27         162       45.95        138.24
    19   Wisconsin               825       3,812       27.66         83.89*
    43   Wyoming                  31          80       -1.23         -2.44

    *Actual increase may not be as high due to data collection changes or
    Improvements

    t Collection of some records previously classified as NOD in this state
    was discontinued starting in January 2009

    tt Collection of some records previously classified as NOD in this state
    was discontinued starting in September 2008

    About RealtyTrac Inc.

    RealtyTrac (http://www.realtytrac.com) is the leading online marketplace of
foreclosure properties, with more than 1.5 million default, auction and
bank-owned listings from over 2,200 U.S. counties, along with detailed
property, loan and home sales data. Hosting more than 3 million unique
monthly visitors, RealtyTrac provides innovative technology solutions and
practical education resources to facilitate buying, selling and investing
in real estate. RealtyTrac's foreclosure data has also been used by the
Federal Reserve, FBI, U.S. Senate Joint Economic Committee and Banking
Committee, U.S. Treasury Department, and numerous state housing and banking
departments to help evaluate foreclosure trends and address policy issues
related to foreclosures.

 

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State Foreclosure Laws

Saturday, August 1st, 2009

Judicial foreclosure: In the absence of a power of sale clause in the loan document, a lender may sue the borrower to obtain a court order to foreclose and sell the property.

Non-judicial foreclosure is pursued when a power of sale clause is present in the loan document. If the clause contains instructions as to the time, place, and terms of sale, that procedure must be followed. If not, a notice of sale must be published weekly for four consecutive weeks in a newspaper published in the county in which the property is located. If no newspaper is published in the subject county, the notice shall be published in a newspaper in an adjoining county.

The sale may not be held until 30 days from the last date of publication, and shall be held between the hours of 11:00 AM and 4:00 PM at the courthouse door as a public auction for cash to the highest bidder.

Right of redemption: The owner has 12 months in which to redeem the property. Deficiency judgments are permitted.

 

Nevada
Judicial Foreclosure-Sometimes
Non-Judicial Foreclosure-Yes, most common
Security Instruments-Deed of Trust, Mortgage
Right of Redemption-judicial foreclosure only
Deficiency Judgments-Yes
Time Frame-Usually 120 days

 

 

Arizona
Judicial Foreclosure-Sometimes
Non-Judicial Foreclosure-Yes, most common
Security Instruments-Deed of Trust, Mortgage
Right of Redemption-No
Deficiency Judgments-Varies
Time Frame-Usually 90 days

California
Judicial Foreclosure-Sometimes
Non-Judicial Foreclosure-Yes, most common
Security Instruments-Deed of Trust, Mortgage
Right of Redemption-Yes, judicial foreclosure only
Deficiency Judgments-Yes, judicial foreclosure only
Time Frame-111 days or more

New York
Judicial Foreclosure-Yes
Non-Judicial Foreclosure-Yes, but almost never used
Security Instruments-Deed of Trust, Mortgage
Right of Redemption-No
Deficiency Judgments-Yes
Time Frame-Usually 12-19 months

Nevada
Judicial Foreclosure-Sometimes
Non-Judicial Foreclosure-Yes, most common
Security Instruments-Deed of Trust, Mortgage
Right of Redemption-judicial foreclosure only
Deficiency Judgments-Yes
Time Frame-Usually 120 days


Pennsylvania
Judicial Foreclosure-Yes
Non-Judicial Foreclosure-No
Security Instruments-Mortgage
Right of Redemption-No
Deficiency Judgment-Yes
Time Frame-Usually 90 days

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Assembly Bill 149

Saturday, August 1st, 2009

The Foreclosure Mediation Program was established as a result of the Assembly Bill 149, passed on May 29th during the 2009 session of the Nevada Legislature, and going in to effect on July 1st. Its purpose is to address the foreclosure crisis head-on and to help keep Nevada families in their homes.
 

This law establishes a Foreclosure Mediation Program for owner-occupied residential properties that are subject to foreclosure notices – formally known as a Notice of Default and Election to Sell – filed on or after July 1, 2009.

  Mediation is an alternative method to help parties resolve disputes by agreement with the help of trained mediators.

 

Form to Request Mediation (Instructions included)

  

Description:

Under Nevada law, the program is open to homeowners of owner-occupied houses who receive foreclosure notices (formally titled Notice of Default and Election to Sell) that were filed on or after July 1, 2009.  Persons who received foreclosure notices filed before that date may join the mediation program only if their lenders agree.  If you received a foreclosure notice filed before July 1, 2009, do not submit this form unless your lender has already agreed to participate.

 

 

 
Assembly Bill No. 149–Assemblymen Buckley, Oceguera, Conklin,

Leslie, Smith; Aizley, Anderson, Atkinson, Bobzien,

Claborn, Denis, Dondero Loop, Goicoechea, Grady,

Hambrick, Hardy, Hogan, Horne, Kihuen, Kirkpatrick,

Koivisto, Manendo, Mastroluca, McClain, Munford,

Ohrenschall, Parnell, Pierce, Segerblom, Settelmeyer,

Spiegel and Stewart

Joint Sponsors: Senators Horsford; and Coffin

CHAPTER……….

AN ACT relating to real property; revising provisions governing

foreclosures on property; providing for mediation under

certain circumstances; providing for the imposition of a fee

for mediation; and providing other matters properly relating

thereto.

 
Legislative Counsel’s Digest:

 
 

 
Existing law sets forth procedures governing foreclosures on real property upon

default. A trustee under a deed of trust has the power to sell the property to which

the deed of trust applies, subject to certain restrictions. (NRS 107.080, 107.085)

 
Section 1

sale with respect to owner-occupied housing by providing a grantor of a deed of

trust or the person who holds the title of record with the right to request mediation

under which he may receive a loan modification. Once mediation is requested, no

further action may be taken to exercise the power of sale until the completion of the

mediation. Each mediation must be conducted by a senior justice, judge, hearing

master or other designee pursuant to rules adopted by the Nevada Supreme Court,

and a fee of not more than $85 per hour may be charged and collected for the

mediation.

respect to owner-occupied housing by revising the period in which a deficiency in

performance or payment under the trust agreement may be made good before the

trustee may exercise that power. Similarly,

the trustee’s power of sale with respect to owner-occupied housing by revising the

manner in which service of notice that a person is in danger of losing his home

must be made. In addition,

Court to adopt rules providing for voluntary mediation with respect to a

homeowner who is not in default but is at risk of default.

 
 

of this bill establishes additional restrictions on the trustee’s power of
Section 2 of this bill also restricts the trustee’s power of sale withsection 3 of this bill restrictssection 4 of this bill authorizes the Nevada Supreme

THE PEOPLE OF THE STATE OF NEVADA, REPRESENTED IN

SENATE AND ASSEMBLY, DO ENACT AS FOLLOWS:
Section 1.

thereto a new section to read as follows:

Chapter 107 of NRS is hereby amended by adding

. In addition to the requirements of NRS 107.085, the

exercise of the power of sale pursuant to NRS 107.080 with respect
– 2 –
-
to any trust agreement which concerns owner-occupied housing is

subject to the provisions of this section.

. The trustee shall not exercise a power of sale pursuant to

NRS 107.080 unless the trustee:

(a) Includes with the notice of default and election to sell

which is mailed to the grantor or the person who holds the title of

record as required by subsection 3 of NRS 107.080:

(1) Contact information which the grantor or the person

who holds the title of record may use to reach a person with

authority to negotiate a loan modification on behalf of the

beneficiary of the deed of trust;

(2) Contact information for at least one local housing

counseling agency approved by the United States Department of

Housing and Urban Development; and

(3) A form upon which the grantor or the person who holds

the title of record may indicate his election to enter into mediation

or to waive mediation and one envelope addressed to the trustee

and one envelope addressed to the Mediation Administrator,

which the grantor or the person who holds the title of record may

use to comply with the provisions of subsection 3;

(b) Serves a copy of the notice upon the Mediation

Administrator; and

(c) Causes to be recorded in the office of the recorder of the

county in which the trust property, or some part thereof, is

situated:

(1) The certificate provided to the trustee by the Mediation

Administrator pursuant to subsection 3 or 6 which provides that

no mediation is required in the matter; or

(2) The certificate provided to the trustee by the Mediation

Administrator pursuant to subsection 7 which provides that

mediation has been completed in the matter.

. The grantor or the person who holds the title of record

shall, not later than 30 days after service of the notice upon him in

the manner required by NRS 107.080, complete the form required

by subparagraph (3) of paragraph (a) of subsection 2 and return

the form to the trustee by certified mail, return receipt requested.

If the grantor or the person who holds the title of record indicates

on the form his election to enter into mediation, the trustee shall

notify the beneficiary of the deed of trust and every other person

with an interest as defined in NRS 107.090, by certified mail,

return receipt requested, of the election of the grantor or the

person who holds the title of record to enter into mediation and

file the form with the Mediation Administrator, who shall assign
– 3 –
-
the matter to a senior justice, judge, hearing master or other

designee and schedule the matter for mediation. No further action

may be taken to exercise the power of sale until the completion of

the mediation. If the grantor or the person who holds the title of

record indicates on the form his election to waive mediation or

fails to return the form to the trustee as required by this

subsection, the trustee shall execute an affidavit attesting to that

fact under penalty of perjury and serve a copy of the affidavit,

together with the waiver of mediation by the grantor or the person

who holds the title of record, or proof of service on the grantor or

the person who holds the title of record of the notice required by

subsection 2 of this section and subsection 3 of NRS 107.080,

upon the Mediation Administrator. Upon receipt of the affidavit

and the waiver or proof of service, the Mediation Administrator

shall provide to the trustee a certificate which provides that no

mediation is required in the matter.

. Each mediation required by this section must be conducted

by a senior justice, judge, hearing master or other designee

pursuant to the rules adopted pursuant to subsection 8. The

beneficiary of the deed of trust or his representative shall attend

the mediation. The grantor or his representative shall attend the

mediation if the grantor elected to enter into mediation, or the

person who holds the title of record or his representative shall

attend the mediation if the person who holds the title of record

elected to enter into mediation. The beneficiary of the deed of trust

shall bring to the mediation the original or a certified copy of the

deed of trust, the mortgage note and each assignment of the deed

of trust or mortgage note. If the beneficiary of the deed of trust is

represented at the mediation by another person, that person must

have authority to negotiate a loan modification on behalf of the

beneficiary of the deed of trust or have access at all times during

the mediation to a person with such authority.

. If the beneficiary of the deed of trust or his representative

fails to attend the mediation, fails to participate in the mediation in

good faith or does not bring to the mediation each document

required by subsection 4 or does not have the authority or access

to a person with the authority required by subsection 4, the

mediator shall prepare and submit to the Mediation Administrator

a petition and recommendation concerning the imposition of

sanctions against the beneficiary of the deed of trust or his

representative. The court may issue an order imposing such

sanctions against the beneficiary of the deed of trust or his

representative as the court determines appropriate, including,
– 4 –
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without limitation, requiring a loan modification in the manner

determined proper by the court.

. If the grantor or the person who holds the title of record

elected to enter into mediation and fails to attend the mediation,

the Mediation Administrator shall provide to the trustee a

certificate which states that no mediation is required in the matter.

. If the mediator determines that the parties, while acting in

good faith, are not able to agree to a loan modification, the

mediator shall prepare and submit to the Mediation Administrator

a recommendation that the matter be terminated. The Mediation

Administrator shall provide to the trustee a certificate which

provides that the mediation required by this section has been

completed in the matter.

. The Supreme Court shall adopt rules necessary to carry

out the provisions of this section. The rules must, without

limitation, include provisions:

(a) Designating an entity to serve as the Mediation

Administrator pursuant to this section. The entities that may be so

designated include, without limitation, the Administrative Office

of the Courts, the District Court of the county in which the

property is situated or any other judicial entity.

(b) Ensuring that mediations occur in an orderly and timely

manner.

(c) Requiring each party to a mediation to provide such

information as the mediator determines necessary.

(d) Establishing procedures to protect the mediation process

from abuse and to ensure that each party to the mediation acts in

good faith.

(e) Establishing a total fee of not more than $400 that may be

charged and collected by the Mediation Administrator for

mediation services pursuant to this section and providing that the

responsibility for payment of the fee must be shared equally by the

parties to the mediation.

. Except as otherwise provided in subsection 11, the

provisions of this section do not apply if:

(a) The grantor or the person who holds the title of record has

surrendered the property, as evidenced by a letter confirming the

surrender or delivery of the keys to the property to the trustee, the

beneficiary of the deed of trust or the mortgagee, or an authorized

agent thereof; or

(b) A petition in bankruptcy has been filed with respect to the

grantor or the person who holds the title of record under chapter

, 11, 12 or 13 of Title 11 of the United States Code and the
– 5 –
-
bankruptcy court has not entered an order closing or dismissing

the case or granting relief from a stay of foreclosure.

. A noncommercial lender is not excluded from the

application of this section.

. The Mediation Administrator and each mediator who acts

pursuant to this section in good faith and without gross negligence

is immune from civil liability for those acts.

. As used in this section:

(a) “Mediation Administrator” means the entity so designated

pursuant to subsection 8.

(b) “Noncommercial lender” means a lender which makes a

loan secured by a deed of trust on owner-occupied housing and

which is not a bank, financial institution or other entity regulated

pursuant to title 55 or 56 of NRS.

(c) “Owner-occupied housing” means housing that is occupied

by an owner as his primary residence. The term does not include

any time share or other property regulated under chapter 119A of

NRS.
Sec. 2.

7.080 1. Except as otherwise provided in NRS 107.085,

NRS 107.080 is hereby amended to read as follows:

and section 1 of this act,

property is made after March 29, 1927, to secure the performance of

an obligation or the payment of any debt, a power of sale is hereby

conferred upon the trustee to be exercised after a breach of the

obligation for which the transfer is security.

. The power of sale must not be exercised, however, until:

(a)

case of any trust agreement coming into force:

(1) On or after July 1, 1949, and before July 1, 1957, the

grantor,

of record,

other person who has a subordinate lien or encumbrance of record

on the property

prescribed in subsection 3, failed to make good the deficiency in

performance or payment; or

(2) On or after July 1, 1957, the grantor,

interest,

under a subordinate deed of trust or any other person who has a

subordinate lien or encumbrance of record on the property

if any transfer in trust of any estate in real
[In] Except as otherwise provided in paragraph (b), in the[or his successor in interest,] the person who holds the titlea beneficiary under a subordinate deed of trust or any[,] has , for a period of 15 days, computed as[or his successor in] the person who holds the title of record, a beneficiary[,] has ,

for a period of 35 days, computed as prescribed in subsection 3,

failed to make good the deficiency in performance or payment;

(b)

housing as defined in section 1 of this act, the grantor,

In the case of any trust agreement which concerns owneroccupied

– 6 –
-
the person who holds the title of record, a beneficiary under a

subordinate deed of trust or any other person who has a

subordinate lien or encumbrance of record on the property has,

for a period that commences in the manner and subject to the

requirements described in subsection 3 and expires 5 days before

the date of sale, failed to make good the deficiency in performance

or payment;

(c)

or the trustee first executes and causes to be recorded in the office of

the recorder of the county wherein the trust property, or some part

thereof, is situated a notice of the breach and of his election to sell

or cause to be sold the property to satisfy the obligation; and

The beneficiary, the successor in interest of the beneficiary

[

of the notice.

. The 15- or 35-day period provided in paragraph (a) of

subsection 2

subsection 2,

which the notice of default and election to sell is recorded in the

office of the county recorder of the county in which the property is

located and a copy of the notice of default and election to sell is

mailed by registered or certified mail, return receipt requested and

with postage prepaid to the grantor

holds the title of record on the date the notice of default and election

to sell is recorded, at

known, otherwise to the address of the trust property. The notice of

default and election to sell must describe the deficiency in

performance or payment and may contain a notice of intent to

declare the entire unpaid balance due if acceleration is permitted by

the obligation secured by the deed of trust, but acceleration must not

occur if the deficiency in performance or payment is made good and

any costs, fees and expenses incident to the preparation or

recordation of the notice and incident to the making good of the

deficiency in performance or payment are paid within the time

specified in subsection 2.

. The trustee, or other person authorized to make the sale

under the terms of the trust deed or transfer in trust, shall, after

expiration of the 3-month period following the recording of the

notice of breach and election to sell, and before the making of

the sale, give notice of the time and place thereof by recording the

notice of sale and by:

(a) Providing the notice to each trustor and any other person

entitled to notice pursuant to this section by personal service or by

mailing the notice by registered or certified mail to the last known

(c)
] (d) Not less than 3 months have elapsed after the recording, or the period provided in paragraph (b) ofcommences on the first day following the day upon[, and] or to the person who[their respective addresses,] his address, if

– 7 –
-
address of the trustor and any other person entitled to such notice

pursuant to this section;

(b) Posting a similar notice particularly describing the property,

for 20 days successively, in three public places of the township or

city where the property is situated and where the property is to be

sold; and

(c) Publishing a copy of the notice three times, once each week

for 3 consecutive weeks, in a newspaper of general circulation in the

county where the property is situated.

. Every sale made under the provisions of this section and

other sections of this chapter vests in the purchaser the title of the

grantor and his successors in interest without equity or right of

redemption. A sale made pursuant to this section may be declared

void by any court of competent jurisdiction in the county where the

sale took place if:

(a) The trustee or other person authorized to make the sale does

not substantially comply with the provisions of this section

any applicable provision of section 1 of this act;

[;] or

(b) Except as otherwise provided in subsection 6, an action is

commenced in the county where the sale took place within 90 days

after the date of the sale; and

(c) A notice of lis pendens providing notice of the pendency of

the action is recorded in the office of the county recorder of the

county where the sale took place within 30 days after

commencement of the action.

. If proper notice is not provided pursuant to subsection 3 or

paragraph (a) of subsection 4 to the grantor, to the person who holds

the title of record on the date the notice of default and election to

sell is recorded, to each trustor or to any other person entitled to

such notice, the person who did not receive such proper notice may

commence an action pursuant to subsection 5 within 120 days after

the date on which the person received actual notice of the sale.

. The sale of a lease of a dwelling unit of a cooperative

housing corporation vests in the purchaser title to the shares in the

corporation which accompany the lease.
Sec. 3.

7.085 1. With regard to a transfer in trust of an estate in

real property to secure the performance of an obligation or the

payment of a debt, the provisions of this section apply to the

exercise of a power of sale pursuant to NRS 107.080 only if:

(a) The trust agreement becomes effective on or after October 1,

03

NRS 107.085 is hereby amended to read as follows:
[; and

– 8 –
-
(b) On

agreement is subject to the provisions of § 152 of the Home

Ownership and Equity Protection Act of 1994, 15 U.S.C. §

02(aa), and the regulations adopted by the Board of Governors of

the Federal Reserve System pursuant thereto, including, without

limitation, 12 C.F.R. § 226.32

(b) The trust agreement concerns owner-occupied housing as

defined in section 1 of this act.

] , and, on the date the trust agreement is made, the trust[.] ; or

. The trustee shall not exercise a power of sale pursuant to

NRS 107.080 unless:

(a) In the manner required by subsection 3, not later than 60

days before the date of the sale, the trustee causes to be served upon

the grantor

the form described in subsection 3; and

(b) If an action is filed in a court of competent jurisdiction

claiming an unfair lending practice in connection with the trust

agreement, the date of the sale is not less than 30 days after the date

the most recent such action is filed.

. The notice described in subsection 2 must be:

(a) Served upon the grantor

record:

(1) Except as otherwise provided in subparagraph (2),

personal service or, if personal service cannot be timely effected, in

such other manner as a court determines is reasonably calculated to

afford notice to the grantor

record; or

(2) If the trust agreement concerns owner-occupied

housing as defined in section 1 of this act:

(I) By personal service;

(II) If the grantor or the person who holds the title of

record is absent from his place of residence or from his usual

place of business, by leaving a copy with a person of suitable age

and discretion at either place and mailing a copy to the grantor or

the person who holds the title of record at his place of residence or

place of business; or

(III) If the place of residence or business cannot be

ascertained, or a person of suitable age or discretion cannot be

found there, by posting a copy in a conspicuous place on the trust

property, delivering a copy to a person there residing if the person

can be found and mailing a copy to the grantor or the person who

holds the title of record at the place where the trust property is

situated;

or the person who holds the title of record a notice inor the person who holds the title ofby[;] or the person who holds the title ofand

– 9 –
-
(b) In substantially the following form, with the applicable

telephone numbers and mailing addresses provided on the notice

and a copy of the promissory note attached to the notice:

NOTICE

YOU ARE IN DANGER OF LOSING YOUR HOME!

Your home loan is being foreclosed. In

home will be sold and you will be forced to move. For help, call:

Consumer Credit Counseling _______________

The Attorney General __________________

The Division of Financial Institutions ________________

Legal Services ______________________

Your Lender ___________________

Nevada Fair Housing Center ________________

. This section does not prohibit a judicial foreclosure.

. As used in this section, “unfair lending practice” means an

unfair lending practice described in NRS 598D.010 to 598D.150,

inclusive.

not less than 60 days your

Sec. 3.5.

7.095 1. The notice of default required by NRS 107.080

must also be sent by registered or certified mail, return receipt

requested and with postage prepaid, to each guarantor or surety of

the debt. If the address of the guarantor or surety is unknown, the

notice must be sent to the address of the trust property. Failure to

give the notice, except as otherwise provided in subsection 3,

releases the guarantor or surety from his obligation to the

beneficiary, but does not affect the validity of a sale conducted

pursuant to NRS 107.080

surety to whom the notice was properly given.

. Failure to give the notice of default required by NRS

7.090, except as otherwise provided in subsection 3, releases the

obligation to the beneficiary of any person who has complied with

NRS 107.090 and who is or may otherwise be held liable for the

debt or other obligation secured by the deed of trust, but such a

failure does not affect the validity of a sale conducted pursuant to

NRS 107.080

notice was properly given pursuant to this section or to NRS

7.080 or 107.090.

. A guarantor, surety or other obligor is not released pursuant

to this section if:

NRS 107.095 is hereby amended to read as follows:
[nor] or the obligation of any guarantor or[nor] or the obligation of any person to whom the

– 10 –
-
(a) The required notice is given at least 15 days before the later

of:

(1) The expiration of the 15- or 35-day period described in
paragraph (a) of subsection 2 of

NRS 107.080;
[or]

(2)

owner-occupied housing as defined in section 1 of this act, the

expiration of the period described in paragraph (b) of subsection 2

of NRS 107.080; or

(3)

beneficiary; or

(b) The notice is rescinded before the sale is advertised.

In the case of any trust agreement which concernsAny extension of [that] the applicable period by the

Sec. 4.

a new section to read as follows:

Chapter 2 of NRS is hereby amended by adding thereto

The Supreme Court may adopt rules providing for voluntary

mediation with respect to a homeowner who is not in default but is

at risk of default.
Sec. 5.


9.646 1. A person who, without participating in the

management of a parcel of real property, holds or is the beneficiary

of evidence of title to the property primarily to protect a security

interest in the property is not a responsible party with respect to a

release of a hazardous substance on the property if:

(a) The owner of the property is relieved from liability under

NRS 459.610 to 459.658, inclusive, with respect to the release;

(b) The owner or holder of evidence of title did not cause the

release; and

(c) The owner or holder of evidence of title does not participate

actively in decisions concerning hazardous substances on the

property.

. A lender to a prospective purchaser who has filed an

application to participate in the program pursuant to NRS 459.634

or a lender who forecloses his security interest in property pursuant

to NRS 40.430 to 40.450, inclusive, or 107.080 to 107.100,

inclusive,

after the foreclosure, not to exceed 2 years, sells, transfers or

conveys the property to a prospective purchaser who has filed an

application to participate in the program pursuant to NRS 459.634 is

not a responsible party solely as a result of:

(a) Foreclosing a security interest in the property; or

(b) Making a loan to the prospective purchaser if the loan:

(1) Is to be used for acquiring property or removing or

remediating hazardous substances on property; and

NRS 459.646 is hereby amended to read as follows:
and section 1 of this act, and within a reasonable period

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(2) Is secured by the property that is to be acquired or on

which is located the hazardous substances that are to be removed or

remediated.
Sec. 5.5.

agreements which concern owner-occupied housing, as defined in

section 1 of this act, apply only with respect to such agreements for

which a notice of default is recorded on or after July 1, 2009.

The amendatory provisions of this act governing trust

Sec. 5.7.

contrary and in recognition of the emergency situation confronting

this State concerning mortgage foreclosures and the need to

implement the provisions of this act quickly, any rules adopted by

the Supreme Court pursuant to subsection 8 of section 1 of this act

take effect on the date specified by the Supreme Court in the order

adopting the rules, which in no event may be less than 30 days after

entry of the order.

Notwithstanding any provision of NRS 2.120 to the

Sec. 6.

This act becomes effective on July 1, 2009.

~~~~~ 09

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Saturday, August 1st, 2009

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1.

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