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08
Jun
2023

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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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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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

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