February 20, 2013, Wednesday
Bankruptcy Court
3420 12th Street
Riverside, CA 92501
12:00 p.m.
Judge Johnson is going to host a free seminar on his rules. Come early as the Courtroom will fill up quickly.
All posts in Community
February 20, 2013 – Judge Wayne Johnson Seminar on “Standing Order Regarding Procedures for Chapter 13 Cases Assigned to Judge Johnson
Free Income Tax Preparation and Family Services Events
Hi everyone,
Please feel free to share this information with any individuals or organizations with clients who may benefit from these free services. The event is presented by Jerome E. Horton, Chairman of the California State Board of Equalization.
The events include featuring access to:
·Free tax preparation
·Low cost and free medical services
·Job preparation assistance
·Food and nutrition services
·Discount telephone services
·Low cost auto insurance information
*Language assistance in Spanish and English will be provided at the events*
Thank you,
Maggie
Magdalena Reyes Bordeaux
Supervising Attorney, Public Counsel
March 14, 2013 – FBA-LA State of the Circuit/District Luncheon
Los Angeles Federal Bar Association
State of the Circuit/District – Luncheon
Featuring:
Sr. Judge A. Wallace Tashima, United States Court of Appeals, 9th Circuit
Chief Judge George H. King, United States District Court, Central District of California
Chief Magistrate Judge Suzanne H. Segal, United States District Court, Central District of California
Chief Bankruptcy Judge Peter H. Carroll, United States Bankruptcy Court, Central District of California
Thursday, March 14, 2013
Registration: 11:30 am
Lunch & Program: 12:00 pm – 1:30 pm
Doubletree Hotel (formerly Kyoto Grand)
120 S. Los Angeles St.
Los Angeles, CA 90012
Info from Prof. Katie Porter re Reducing Principal on Loans Under the Settlement
The nation’s five largest mortgage servicers-Ally Financial, Bank of America, Citi Financial, JPMorgan Chase, and Wells Fargo-can receive credit towards their consumer relief obligations under the National Mortgage Settlement for reducing principal on loans they service, including second mortgages.
The Settlement only requires the servicers to perform second-lien modifications in two instances. First, a servicer must modify a second lien when it has modified a first lien via its proprietary modification process, including a Settlement modification, and another servicer that agreed to the Settlement owns the second lien. Second, a servicer must modify a second lien when another settling servicer has performed a first-lien modification.
The servicers can also perform second-lien modifications in addition to those required by the Settlement. For example, Bank of America implemented an extensive second-lien extinguishment program under the Settlement. Bank of America sends borrowers, including those who have filed chapter 7 or chapter 13 bankruptcy, a one-page letter informing them that their second lien will be extinguished. A homeowner who does not want the lien extinguished must contact Bank of America within 30 days. If the homeowner does not respond, the second lien is released and the associated debt forgiven. Given the opt-out structure, it is not surprising that participation rates in this program are extremely high. Bank of America reports these accounts to the credit bureaus as “paid in full” and “closed.” This second-lien extinguishment program is unique to Bank of America.
Borrowers receiving second-lien forgiveness under the Settlement should consult with a qualified tax professional to discuss any potential tax consequences. These borrowers should also anticipate that their lenders will report any forgiven second-lien debt to the IRS using the appropriate 1099 form.
More information about the National Mortgage Settlement is available at the site of the California Monitor Program: www.californiamonitor.org. Questions specific to bankruptcy can be directed to California Monitor attorney,Angelica Ornelas, at aornelas@law.uci.edu .
Katherine Porter Professor of Law, UC Irvine California Monitor, A Program of the Attorney General
Position Available at Public Counsel
Administrative Assistant position open. The announcement is here.
2013 Bankruptcy Reference Book
The 2013 Bankruptcy Reference Book is available on Amazon. It contains, in a single volume, the bankruptcy code, the FRCP, the Federal Bankruptcy Rules, the Central District local rules, the California exemptions, and the addresses of phone numbers of the Central District judges.
LACBA Program on New Local Bankruptcy Rules – Wednesday, February 6, 2013
Learn about the new Local Bankruptcy Rule amendments from a judge and a law clerk who will be making sure you comply! Get up to date on procedure changes, clarifications and other improvements in the Local Bankruptcy Rules.
Speakers:
Jeffrey R. Cozad, Law Clerk Hon. Vincent Zurzolo
Hon. Thomas B. Donovan, United States Bankruptcy Court
David A. Tilem, L/O Of David A Tilem
Parking:
Self Parking Available for $10.00, with validation.
Wednesday, February 6, 2013
February 6, 2013 – Presentation on New Order Processing Guidelines
Dear Colleagues!
An FYI!
On Feb 6th at noon, Jeff Cozad, Law Clerk to the Honorable Judge Vincent Zurzolo, will be giving a presentation at the LA County Bar Association about our LBR Revisions and the new Order Processing Guidelines. It is a one hour presentation, with our very own David Tilem moderating.
The handouts we will use are posted on the court’s website.
On the LBR page, there is a link to “Summary of LBR Revisions.” The link is not that great because it indicates “Redline and Summary of Local Bankruptcy Rules Effective January 2, 2013”. But if you click on the link, it takes you to a better link that indicates “Summary of Revisions to LBR Effective January 2, 2013”.
Also on the LBR forms page, click on F 9021-1.2.BK.NOTICE.LODGMENT. On the page where the form is located, there is a link to “Order Processing Guidelines.” That is the one-page reference that is posted outside Ctrm 1368 and posted on VZ section of the website.
Keith Higginbotham
cdcbaacheck@aol.com
2nd Annual Leslie Cohen 5K! – April 27, 2013
2nd Annual Leslie Cohen 5K!
Benefiting Public Counsel Debtor Assistance Project and Samohi Cross Country Track Program
Sponsorship Opportunities (Deadline March 1, 2013)
Legal Challenge Division
Where legal firms compete to see who’s fastest!
Gold Level $5,000
2 “10×10” Tents at Race Site
Coffee and Tea Provided
Trestle Table
Unlimited Race Entries
Large Logo on Race shirt, Website, Printed and Promotional Materials
PA Announcements
Marketing Materials placed in Race Packs
Silver Level $2,500
1 “10×10” Tent at Race Site
10 Race Entries
Medium sized Logo on Race Shirt
Logo on Race Website, Printed and Promotional Materials
Marketing Materials in Race Packs
Bronze Level $1,500
Five Race Entries
Small Logo on race website, Printed and Promotional Materials
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M. Jonathan Hayes Books
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