Everything posted by Bookman
-
Woman owes 15k in taxes. County forecloses and sells for 40k profit, and keeps the money. Court says "cool".
Said this way back in post #12.
-
Woman owes 15k in taxes. County forecloses and sells for 40k profit, and keeps the money. Court says "cool".
If the creditor owns the property, then the creditor purchased it at the auction and there's no more debtor/creditor relationship, at least with respect to that property. It's possible the creditor took control by order of the bankruptcy court but I've never seen that in the Southern District of Texas.
-
COVID-19 vaccine discussion
When I got omicron, I had this weird brain fog immediately. That wasn't a first symptom of the other variants. Not everyone gets it of course.
-
Woman owes 15k in taxes. County forecloses and sells for 40k profit, and keeps the money. Court says "cool".
If you do this for your job you should learn how they work.
-
Woman owes 15k in taxes. County forecloses and sells for 40k profit, and keeps the money. Court says "cool".
Why do you think I'm thinking in terms of residential real estate only? After the financial crisis, I spent two years doing nothing but commercial real estate loan workouts, including many multi-million dollar single asset real estate Chapter 11 cases. I put literally dozens of real estate developers into bankruptcy. think I know what I'm talking about.
-
Woman owes 15k in taxes. County forecloses and sells for 40k profit, and keeps the money. Court says "cool".
Why should the creditor get all the excess proceeds? What if there's more than one creditor? And creditors don't "take over the property via foreclosure." You're confusing the creditor with the buyer at the foreclosure sale.
-
Русский корабль - иди нахуй
Area has two dimensions, so it should be "square meter."
-
Русский корабль - иди нахуй
It's for your own good. It's for the neighborhood.
-
Ukraine War
Wow that seems to me like Putin's really scared.
-
Русский корабль - иди нахуй
https://www.dailymail.co.uk/news/article-10554269/Ukraine-DESTROYS-Russian-convoy-Zelenskys-troops-derail-Kremlin-push-Kyiv.html
-
Ukraine War
What is Poland doing with all the Ukrainian refugees? Are they separating kids from parents and putting kids in cages while their President calls it an "invasion"?
-
Woman owes 15k in taxes. County forecloses and sells for 40k profit, and keeps the money. Court says "cool".
And apparently the state took her shit for her mistake. And a similarly situated taxpayer with no equity in her condo doesn't have to pay that penalty. It's a crazy statute. Can't believe it's constitutional.
-
Woman owes 15k in taxes. County forecloses and sells for 40k profit, and keeps the money. Court says "cool".
Say in Texas you had a commercial first-lien debt of $1 million secured by property worth $2 million, and $700,000 of subsequent liens, mechanic's liens, judgment liens, etc. If the foreclosure proceeds are $2 million, who gets that money, and how much do they get? When I did commercial foreclosures, the first lienholder would get $1 million, all the other liens would get paid off, and the owner would get the remaining $300,000. Do you think that's an unfair result? If the owner doesn't get the excess $300,000, who should get it? Do all the other lienholders get to chop it up pro rata? Or does the first lienholder get it all? Maybe the foreclosing attorney should get to put it in his pocket.
-
Ukraine War
It's really the only sensible thing to do, if it's done safely. Therapeutically, there's no danger involved.
-
Woman owes 15k in taxes. County forecloses and sells for 40k profit, and keeps the money. Court says "cool".
Lol yeah, I don't have an HOA either and I'm thankful for it. But they can serve their purposes. I represented an HOA for a rich neighborhood and they did a good job taking care of things.
-
Woman owes 15k in taxes. County forecloses and sells for 40k profit, and keeps the money. Court says "cool".
Pull out the covenants, conditions, and restrictions for your house and you'll see a clause where the HOA subordinates its lien.
-
Woman owes 15k in taxes. County forecloses and sells for 40k profit, and keeps the money. Court says "cool".
Yeah and the buyer at the foreclosure sale takes subject to the bank's lien.
-
Woman owes 15k in taxes. County forecloses and sells for 40k profit, and keeps the money. Court says "cool".
I haven't done foreclosures in 10+ years, but in my experience it was extremely rare for an HOA to have a lien with priority over a purchase money lien. The one time I saw it the HOA subordinated its lien as a condition of making the loan. I can't imagine a bank making a loan on a house and being behind the HOA's lien.
-
Woman owes 15k in taxes. County forecloses and sells for 40k profit, and keeps the money. Court says "cool".
I just skimmed the opinion. That is a terrible statute, in my opinion, because it's an unfair penalty. I'm no constitutional lawyer, but they didn't seem to argue equal protection.
-
Woman owes 15k in taxes. County forecloses and sells for 40k profit, and keeps the money. Court says "cool".
In Texas, if the foreclosure proceeds are more than the debt, then the debtor gets the excess proceeds. I can't imagine any legal theory where the creditor gets to keep more money than what is owed. If the house increases in value after the foreclosure sale and is later sold, then the debtor doesn't get any of that gain.
-
COVID-19 vaccine discussion
Couple days for me.
-
Fuck Trudeau.
With all their hockey hullabaloo, and that bitch Anne Murray too.
-
Russia and American elections, now featuring radical republicans as co-stars
Please finish those thoughts.
-
2022 Poker: Ship it!
It's hard for him to have a set or two pair on that turn, but I think those would call. That's just a spot I find myself in too often in these multi-way nobody-ever-folds folds pots at 1/2 in San Antonio. If I'm out of position, turn the nuts on a four-flush board, check, and it always checks through.
-
Russia and American elections, now featuring radical republicans as co-stars
This isn't true. He could step down and admit he cheated his way to the Presidency. Oh wait, then Kamala would be President. That would make Trumpkin heads explode.