Category Archives: Real Estate

Find out more about commercial and residential real estate.

Introducing Tracy Wrisinger

The weather is not the only thing changing…introducing, Tracy Wrisinger. Tracy is expanding her opportunities with The Sader Law Firm and has joined full time as of May 1, 2013. Her practice areas include: Chapter 7, 11, and 13 Commercial Real Estate Business Law “I am fortunate to be joining a small boutique firm which emphasizes high quality representation with a personal touch. I look forward to introducing my existing clients to the friendly and professional staff. I am available to represent clients in both Kansas and Missouri. Looking forward to working together!” Tracy Wrisinger, J.D., M.B.A.  

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Modifying and Stripping Second Mortgages

Imagine being a homeowner with a first and second mortgage on a property and having the ability to cancel out the second mortgage. Literally stop making payments and keep the property! That is exactly what is available to debtors who file for Chapter 13 bankruptcy (it can also be used in a Chapter 7). As was written about yesterday in The Mercury News of San Jose, it is becoming an increasingly common occurrence. I am finding it increasingly of use for my clients in both Missouri and Kansas. The situations in which this can work are as follows: A debtor must own a piece of real estate, regardless of whether it is a home or investment property, with more than one mortgage in place; The value of the property in today’s market must be less than the amount needed to pay off just the first mortgage; Either a motion or…
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Dems: Obama Broke Pledge to Help Homeowners

Are you a homeowner who’s struggling to pay your mortgage? Are you seeking loan modification through the government program? Before he took office, President Obama repeatedly promised voters and Democrats in Congress that he’d fight for changes to bankruptcy laws to help homeowners – a tough approach that would force banks to modify mortgages. “I will change our bankruptcy laws to make it easier for families to stay in their homes,” Obama told supporters at a Colorado rally on September 16, 2008, the same day as the bailout of AIG. Bankruptcy judges have long been barred from lowering mortgage payments on primary residences, though they could do it with nearly all other types of debt, even mortgages on vacation homes. Obama promised to change that, describing it as exactly “the kind of out-of-touch Washington loophole that makes no sense.” But when it came time to fight for the measure, he…
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