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01
Apr
2022

Michigan Foreclosure Deficiency Defined

ISSUE:  Whether a mortgagee bidding total debt at foreclosure sale can recover post-foreclosure advances for repairs and/or improvements through a deficiency action against mortgagor. CONCLUSION: A mortgagee (Lender) cannot pursue a mortgagor for a deficiency arising from post-foreclosure advances expended to repair or improve the premises. When a mortgagee makes a full credit bid for […]

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06
Dec
2021

Waiver of Right to Rescind Reaffirmation Agreement Unenforceable

Bankruptcy Court Sets Aside Agreed Waiver of Right to Rescind Reaffirmation Agreement as being unenforceable. In the Case of Dustin M.J. Vaupel and Aimee D. Vaupel, Debtors, after the Debtors entered into a Reaffirmation Agreement with Collins Community Credit Union, both the parties agreed to Waive the Debtors Right to Rescind the Reaffirmation Agreement. Here, the […]

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21
Oct
2009

We Celebrate International Credit Union Day with New Search Features

Introducing our New Features and Search Options for the Credit Union Legal Newsletter • Search features are all FREE! • Search our legal articles by Topic • Search our legal articles by Key Words • Read our legal articles all for FREE! Use the Search Box on the top right-hand corner of any page on […]

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18
Apr
2009

U.S. Supreme Court Decision on Preferential Transfers

National Apr 18, 2009, 18:01 In William Barnhill v. Elliot Johnson (No. 91-159), the United States Supreme Court held that the actual date a check is presented to the drawee bank will be the effective date to determine whether the transfer may be set aside by a trustee in bankruptcy. Under the Bankruptcy Code’s preference, […]

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  • Recently Posted Articles written by: Charels R. Harroun, Attorney at Law

    • Michigan Supreme Court: Secured Loan Loss Payable Clause
    • Defective Notary: Mortgage Void
    • Discharged Loan Re-Written Is Unenforceable
    • Debtor’s Irresponsible Debts Discharged
    • Holder in Due Course – Checks
    • Defective Notice to Sell Collateral Defeats Collection of Deficiency
    • Credit Union Assessed Punitive Damages
    • Attorney Fees Assesses Against Bankrupt Debtor
    • Automatic Stay Violation: Costs Assessed Against Credit Union
    • Credit Union Lien Survives Chapter 7 Discharge
    • Constructive Discharge: Credit Union Violates Employee’s Rights

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