In a case of first impression, the Fifth Circuit Court of Appeals found that a chapter 7 debtor’s right to appeal a state court judgment against him was property of the estate that could be sold by the trustee. Croft v. Lowry (In re Croft), No. 13-50020 (Dec. 10, 2013). [Read more…] about Fifth Circuit Finds Defensive Appellate Rights Property of Estate
California Appellate Court on Option ARMs
Yesterday in the case of Boschma, et al v. Home Loan Center, Inc., No. G043716, a California Appellate Court held that homeowners sufficiently stated a claim for a state UDAP violation based on the lender’s disclosure that suggested only the possibility of negative amortization and interest rate increases when both were certain. The interest rate was going to rise from the introductory teaser rate, and if the borrowers paid according to the payment schedule in the TIL disclosure negative amortization was also a certainty.