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Articles 1 - 4 of 4
Full-Text Articles in Social Welfare Law
Steering Loan Modifications Post-Pandemic, Pamela Foohey, Dalie Jimenez, Christopher K. Odinet
Steering Loan Modifications Post-Pandemic, Pamela Foohey, Dalie Jimenez, Christopher K. Odinet
Faculty Articles
As part of federal and state relief programs created during the COVID-19 pandemic, many American households received pauses on their largest debts, particularly on mortgages and student loans. Others may have come to agreements with their lenders, likewise pausing or altering payment on other debts, such as auto loans and credit cards. This relief allowed households to allocate their savings and income to necessary expenses, like groceries, utilities, and medicine. But forbearance does not equal forgiveness. At the end of the various relief periods and moratoria, people will have to resume paying all their debts, the amounts of which may …
Bankruptcy & The Underwater Home: A Case For Real Property Redemption, David Sheinfeld
Bankruptcy & The Underwater Home: A Case For Real Property Redemption, David Sheinfeld
Michigan Business & Entrepreneurial Law Review
Chapter 7 of the U.S. Bankruptcy Code exists to satisfy the claims of creditors and preserve an economic “fresh start” for the debtor after bankruptcy. In exchange for surrendering her property to the trustee to have it monetized (i.e., sold), the debtor receives a discharge of her debts and an injunction against future creditor in personam actions to recover them. However, the in personam injunction is insufficient to protect consumer debtors who are in default on mortgages encumbering underwater homes because the creditor’s in rem rights remain; after the conclusion of the case, the creditor can continue foreclosure proceedings, which …
Making Debtor Remedies More Effective, Melissa B. Jacoby
Making Debtor Remedies More Effective, Melissa B. Jacoby
Melissa B. Jacoby
Commissioned for a conference on credit markets at Harvard Business School in February 2010, this paper explores functional system design and the role of lawyers and intermediaries in providing debtor remedies in a complex legal system. The thesis of this paper, which proceeds in the “law and society” tradition, is that the location of a remedial right within the debtor-creditor system substantially affects the costs and benefits of the remedy for debtors, creditors, the system, and society. In other words, merely adding specific substantive provisions does not directly translate into actual protection. Relatedly, policymakers must recognize that lawyers and other …
Responsible Development? The Need For Revision To Seattle's Inclusionary Housing Plan, Jay A. Riffkin
Responsible Development? The Need For Revision To Seattle's Inclusionary Housing Plan, Jay A. Riffkin
Seattle University Law Review
This Comment explores how Seattle's enactment of a limited inclusionary housing plan can effectively meet the challenges of responsible development, both satisfying the city's need for density and affordability and maintaining an economic environment conducive to developer profitability. Although Seattle's current inclusionary housing plan may give adequate incentives to developers, the city needs to move away from its current voluntary plan and toward a mandatory plan that balances increasing developer incentives with a demand for affordable onsite development to serve a broader spectrum of income levels. Part II of this Comment lays out the background of exclusionary and inclusionary zoning …