Lawyer is accused of creating sham secured creditor to shield client assets
ABA Journal Daily News
ABA Journal Daily News
The group promising massive redevelopment in Opelousas returned to the city this week, claiming before the City Council they had secured a $ 4 billion loan for a new airport, manufacturing plant and a “smart city,” among other projects. That means the project can move forward “without the city or its citizens having to pay […]
What's the difference between a mortgage and a credit card? A lot, right? One is a large sum of money you use to finance a home, another is a card that lets you borrow money to make purchases. What about the difference between a secured credit card and an unsecured credit card? A car loan […]
In re Sunnyslope Hous. Ltd. P'ship, 859 F.3d 637 , as amended , is a noteworthy case for secured lenders. Foreclosure News
A series of cases decided by the federal district court in Chicago holds that a properly perfected secured creditor can waive its right of priority in collateral in favor of a judgment lien creditor if it fails to properly act against its collateral following a borrower's default. Typically a secured creditor attains perfected status and […]
There are two types of debt: Secured, where a debt is tied to real property or accounts, and unsecured, which is debt that is not tied to any account. The most common forms of secured debt are auto loans and mortgages. Foreclosure News