Strategic Debt Restructuring


Strategic Debt Restructuring

By: Jim Macklin
Secure Document Research

How many property owners in this country experienced the flush of “money for nothin’ and kicks for free” during the build-up to 2008? Champagne, boats, leisurely weekends at the lake all came part & parcel to those who were able and willing to leverage themselves at the urging of their local and national banks.

Obviously, those days were hazy and fast-paced for those caught up in the whirlwind of easy money provided by Wall St. and the MBS profits. I can still see the faces and attitudes of the mortgage brokers, loan officers and title company agents who were suddenly the darlings of the communities across the U.S.

Continue reading “Strategic Debt Restructuring”

10/6/2012 – Sacramento, CA – Full Day CLE Workshop Seminar: Bankruptcy Strategies for Distressed Multiple Property Owners and Homeowners in using Chapter 11

10/6/2012 – Sacramento, CA – Full Day CLE Workshop Seminar: Bankruptcy Strategies for Distressed Multiple Property Owners and Homeowners using Chapter 11

October 6th, 2012 – in Sacramento, California (Auburn)

Venue is the Holiday Inn Auburn, CA http://auburnhi.com (Subject to change, check back often)

We are seeking approval for Minimum Continuing Legal Education (MCLE) from the State Bar of California for 6.75 Total credit hours.

SECURE DOCUMENT RESEARCH
Auburn, CA 95603; ph: 530.888.9600

DTC Systems, Inc
[email protected]
http://www.dtc-systems.net

Presented by:
Secure Document Research and DTC Systems, Inc
http://www.dtc-systems.net in Association with the Yarmy Law Group http://yarmylawlv.com/

REGISTER EARLY, LIMITED SEATING IS AVAILABLE
Register: http://sdr-sacramento.eventbrite.com/

Standard attorney enrollment fee is $497.00
Standard Property Owner/Homeowner enrollment fee is $197.00

Visit us at http://www.dtc-systems.net

If you have any problems registering for this event, you can also register by sending PayPal payments directly to [email protected]

Problems Registering? Call 530.888.9600

Presented by:
Secure Document Research and DTC Systems, Inc. in Association with the Yarmy Law Group
REGISTER EARLY, LIMITED SEATING IS AVAILABLE

Workshop Information
This is a comprehensive 1-day workshop CLE seminar for lawyers and paralegals: Bankruptcy Strategies for Distressed Multiple Property Owners and Homeowners using Chapter 11

We are seeking approval for Minimum Continuing Legal Education (MCLE) from the State Bar of California for 6.75 Total credit hours.

Speakers:

1. James Macklin
Owner of Secure Document Research providing Securitization Research and Analysis. While working briefly within the securities industry, Mr Macklin has been focused on the study of economics and macro-economics for over fifteen years, gathering professional insight into Generally Accepted Accounting Principles, Financial Accounting Standards, business ethics, securitization and the effects of “Control Fraud” (William Black, Professor; U.M.K.C.,) on market analysis. Mr. Macklin is now committed to the education, en mass, of the legal industry as a tool for the protection of rights of the under-sophisticated investing and borrowing public at large. James Macklin has over 10,000 hours of research into Securitization, Title and Publicly Recorded Instruments.
[email protected]

2. Daniel Edstrom
President of DTC Systems, Inc, having been in Information Technology for the last 18 years as a Systems Architect and Software Architect.The transformation of complex business requirements to complex Wall Street Engineering was an easy one. Securitization Expert, Daniel Edstrom analyzes complex financial engineering securitization transactions as well as providing a failure analysis, with well over 10,000 hours of research into Securitization and Title. Besides working for his own company, Daniel is a Senior Securitization Analyst for the Garfield Firm (www.garfieldfirm.com).
[email protected]

3. Steve Yarmy
I started a chapter 11 practice about three years ago to assist businesses and individuals who were hard hit by the drastic decline in property values. I have filed over 50 chapter 11 bankruptcies. I have achieved enormous success in confirming the chapter 11 plans. I attribute my success to building relationships with the creditors attorneys, along with a developed strategy in processing the chapter 11. This process has been duplicated by other chapter 11 attorneys because of my streamlined strategy.
Do to the success achieved in Las Vegas chapter 11’s, I initiated a practice in the Reno area (Yarmy Law Group).  Currently, I associate with the Kidder Law Group which is located in the Reno area. We have over 7 plans on file, and expect a tremendous confirmation rate.
Recently, I have a Pro Hoc Vice with a California attorney in an effort to pass on the success to parties in California. We anticipate working closely with counsel in California to expand the case load there.
Presently, I devote most of my time to chapter 11 bankruptcies and any litigation resulting from lender practices. I plan to continue this trend for sometime moving forward.
[email protected]

4. Chris Craig, M.B.A.
Legal Assistant to Steve Yarmy

*Both James Macklin and Daniel Edstrom are not attorneys.

THIS WORKSHOP AND/OR ANY MATERIALS DISTRIBUTED AT THE WORKSHOP IS NO SUBSTITUTE FOR LEGAL ADVICE FROM LOCAL COUNSEL LICENSED TO PRACTICE IN THE COUNTY AND STATE WHERE THE SUBJECT PROPERTY IS LOCATED. The information presented is for general information for you to understand the current context of foreclosures and to enable you to ask relevant questions of an attorney of your choosing. Any opinions presented here, along with facts, cases, examples or arguments, may not apply to your case. You should consult with local licensed counsel before employing them.

Venue:
Venue is the Holiday Inn in Auburn, CA
http://auburnhi.com (Subject to change, check back often)

Registration:
Pre-Registration is required and can be done on this website or over the phone at 530.888.9600, with payment by PayPal to [email protected]. Tickets will be emailed after payment is completed.

Pricing:
Attorneys: $497.00 for the one day worksho
Property Owners / Homeowners: $197.00 for the one day workshop

We are seeking approval for Minimum Continuing Legal Education (MCLE) from the State Bar of California for 6.75 Total credit hours.

Workshop Agenda

8:30–9:15 Introduction: James Macklin / Daniel Edstrom
9:15–10:00 Consummation and Closing Failure Analysis: Daniel Edstrom
10:00–10:15 Morning Break
10:15–11:00 Understanding the Purpose of the Recording Statute: James Macklin
11:00–11:45 Chapter 11 Bankruptcy Introduction: Chris Craig, M.B.A.
11:45 to 1:00 Lunch
1:00–1:45 Attracting Clients & Using the Creditor to Pay Attorneys fees: Steve Yarmy, Esq.
1:45–2:30 Filling out the Petition & First Day Motions: Steve Yarmy, Esq.
2:30–2:45 Afternoon Break
2:45–3:30 Operating Reports, Property Valuations and Motions: Steve Yarmy, Esq.
3:30–4:15 Panel Q&A

** Schedule subject to change without notice **

Split: The Note and the Deed of Trust (Redux)

The Note and Mortgage are split in judicial states the same as the Note and Deed of Trust in non-judicial states.

Split: The Note and the Deed of Trust (Redux)

by Daniel Edstrom

The Note and Mortgage are split in judicial states the same as the Note and Deed of Trust in non-judicial states.

The first issue is that the note was sold in 2005 but the Deed of Trust appears to have been left behind.  For the uninitiated, if the Note and Deed of Trust are split, this causes a nullity.  A nullity means the security interest is lost and the debt becomes unsecured.  In securitization this is standard operating procedure and is one of the issues that we are left to face.  Upwards of 60,000,000 homes may be unencumbered leaving those who own the notes on these houses with no power of sale.  And more considering MERS wasn’t the only party involved in splitting the note from the security instrument.

Who owns these loans if they are unsecured?  That was the whole purpose of creating the securitization diagram in the first place.

The result?  More questions, few answers. Continue reading “Split: The Note and the Deed of Trust (Redux)”