Archive for Legal Blog

 While the United States Bankruptcy Code does not allow debtors to modify first mortgages in bankruptcy, second mortgages can be modified or “stripped” by filing chapter 13 bankruptcy. This works as follows:

First, you must be “underwater” on your first mortgage. This means that the value of your home is lower than the balance of your first mortgage. If an appraisal confirms that you are underwater on the first mortgage, the second mortgage is considered unsecured and is therefore eligible to be modified or “stripped” through bankruptcy

With the help of a bankruptcy lawyer, a Chapter 13 plan would be drafted and filed with the Court. Once the plan has been filed, your bankruptcy attorney will file what is called an adversary proceeding, which is a lawsuit filed in the bankruptcy court. Your second mortgage lender would be the defendant in this lawsuit. Attached as evidence with the lawsuit would be a real estate appraisal demonstrating that you are underwater on your home. In most cases, a good appraisal will prevent the lender from contesting the mortgage modification.

At the end of the process, the lien of your second mortgage lender will literally be stripped from your home. The second mortgage will then be paid as an unsecured debt through the chapter 13 plan, often at pennies on the dollar. Keep in mind that you must finish the chapter 13 repayment plan in order to achieve a permanent second mortgage modification. If you do not finish your chapter 13 repayment plan (i.e. make all of your chapter 13 plan payments), your bankruptcy will be dismissed and you would then be responsible to pay the balance on the second mortgage.

For most consumers, lien stripping of a second mortgage through a chapter 13 bankruptcy results in much lower mortgage payments and can fend off a foreclosure.

The Law Offices of Philip Duda is always available to assist you in the preparation of your Chapter 7 or Chapter 13 bankruptcy matter. Feel free to contact us for your free, no obligation consultation with a bankruptcy lawyer. We provide bankruptcy relief to consumers in the Greater Phoenix area as well the entire state of Arizona.

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Semi-trailer (i.e. “Big Rig”,18-wheeler or tractor trailer) trucking accidents are often extremely serious accidents that cause severe and life long injuries, and often death, to their victims. Like other types of vehicle accidents, there can be several causes to a semi-trailer trucking accident. However, one of the most common causes of semi-trailer trucking accident is driver fatigue. Tired and sleepy drivers can turn a standard 18-wheeler into a gargantuan weapon of destruction causing extraordinary and overwelming damage, injury and in many cases, death.

The Federal Motor Carrier Safety Administration (FMCSA) monitors commercial truck driving safety guidelines. FMCSA has created hours-of-service or “HOS” requirements that determine the length of working hours, the frequency (i.e. how many) of working days in a given time period, and how often and how long drivers are required to sleep.  These HOS requirements were created to reduce the amount of trucking accidents caused by driver fatigue.

The hours-of-service regulations were amended in 2010 (49 CFR, Part 395) and now require that all commercial motor vehicles (CMV) must follow the HOS regulations. This means that all commercial vehicles, including commercial box trucks, commercial vans, and buses, are required follow the same HOS regulations as semi-trailer trucks are required to.

If you or someone you know has been involved in an accident involving a semi-trailer truck or other commercial vehicle, it’s important that you speak with an attorney who is familiar with these hours-of-service regulations.

 

 

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$1 million + Judgment

Posted on Jan 04

$1 million + Judgment against trucking company for truck driver’s negligence.

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$400,000 + settlement

Posted on Jan 04

$400,000 + settlement against local bar for overserving customer alcohol resulting in automobile accident.

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$275,000 settlement

Posted on Jan 04

$275,000 settlement against negligent driver for major automobile accident.

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Law Offices of Philip Duda PLLC 114 W Camelback Rd, suite 2 Phoenix, AZ, 85013
Office: 602-266-3555   |  Email: philip@theaccidentlawyer.com