M. Todd Jackson’s Answers

M. Todd Jackson

Franklin Bankruptcy Attorney.

Contributor Level 6
  1. Can I file bankruptcy on a house in Ohio when I live in Tennessee?

    Answered 9 months ago.

    1. M. Todd Jackson
    2. Cassandra M. Porter
    3. Blake Owen Brewer
    3 lawyer answers

    If you intend to surrender any interest you have in the Ohio property, you can include that in your bankruptcy and the creditor cannot pursue you for that debt. If you have lived in Tennessee for the greater part of the last 180 days, Tennessee may be the proper venue to file your bankruptcy case. You want to make sure your divorce decree does not impose an obligation on you with regard to that property that is not dischargeable in your bankruptcy. An experienced bankruptcy lawyer in your area...

    4 lawyers agreed with this answer

    1 person marked this answer as helpful

  2. Went to a meeting of creditors in Jackson, TN YESTERDAY.... NEITHER MY ATTORNEY OR MY MORTGAGE COMPANY SHOWED UP.

    Answered 6 months ago.

    1. M. Todd Jackson
    2. Darrell Lane Castle
    3. Brent J Jensen
    4. Scott Benjamin Riddle
    5. Alan D. Walton
    5 lawyer answers

    None of what you describe is unusual. It is common for the mortgage company to not appear at the meeting. They have a certain time to file a proof of claim in your case to show how much you owe. By the mortgage company not showing up at your meeting does not mean you are current on your loan. If you dismiss your case you will still be behind. If you work out a modification with the mortgage company, and the mortgage was the only reason you filed, then dismissing your case at that point could...

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  3. Do I have to sign a quit claim deed to a house that is in my name only so the ex can get a refinance loan if I don't trust him?

    Answered 9 months ago.

    1. M. Todd Jackson
    2. Arnold Garson Cohen
    3. Vincent J. Gallo
    3 lawyer answers

    If you deed him the property it is his. There is no mechanism where it automatically goes back to you. What we normally do is have you agree to sign the Quitclaim Deed at the closing of the loan. That way you only give him the property when you know the loan is done. This is not an unusual situation, and we handle this exact thing regularly.

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  4. If i pay for a home 100% in cash is it required to have a closing agency, and if so what law is it?

    Answered 6 months ago.

    1. Kevin Don Montgomery
    2. M. Todd Jackson
    3. Charles Holloway Byrd
    4. Joseph Talmadge Kirkland Jr
    4 lawyer answers

    If you are paying cash for a home, you want to make sure your investment is protected. You don't have to use a title agency, but if you don't know how to search the title and don't have someone that can issue a title insurance policy, you risk losing your entire investment if mortgages, taxes, and liens are not paid in full. For what it costs to have a title company do that for you, it is well worth it to make sure you won't have problems going forward.

    3 lawyers agreed with this answer

  5. Why would a US Trustee file a motion for additional 60 days with the court in regards to our Chapter 7 bankruptcy case?

    Answered 9 months ago.

    1. M. Todd Jackson
    2. Scott Benjamin Riddle
    3. Christine B. Adams
    3 lawyer answers

    The Trustee may do this to allow more time to review the information you sent. If they haven't decided if you are entitled to a discharge, they are asking to put it on "hold" until they make a decision. Because of the government shutdown they are short-staffed and that may be why they need more time. It does not necessarily mean you will not receive a discharge, it just means they need time to finalize their review.

    3 lawyers agreed with this answer

  6. I made an offer on a house and it was accepted by the seller. Now I want to cancel and get a refund of my earnest money.

    Answered 8 months ago.

    1. M. Todd Jackson
    2. Arnold Garson Cohen
    2 lawyer answers

    Your contact should have language about your inspection of the house, and your options after getting the results. There may be language that gives you the option to cancel the contract before a specific number of days, even before you pay for the inspection. If you have a realtor they would know your options under the contract. If there is no realtor, review the language and do EXACTLY what the contract says you have to do to cancel the contract (written notice, certified mail, etc). If you...

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  7. If a person has a life estate to a partial of land, can they deed it to a daughter

    Answered 9 months ago.

    1. Kevin Don Montgomery
    2. M. Todd Jackson
    3. Arnold Garson Cohen
    3 lawyer answers

    If the mom only had a life estate, she can't give away any more than that. If mom tried to convey to the daughter and mom is now dead, daughter does not have anything unless she already owned the remainder interest (the person that would have received the property when mom died). If that person was someone else then she should own nothing. You have to look at the instrument that created the life estate in mom to see who the remainder interest goes to. If it went to dad, and dad is now dead, you...

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  8. First, thank you. I am in the process of either a modification or forbearance or both. I'm working with NACA and NationStar.

    Answered 9 months ago.

    1. M. Todd Jackson
    2. Arnold Garson Cohen
    2 lawyer answers

    First, don't leave the house until you absolutely have to. It is YOUR house until is not yours anymore. You will hear many things about how you have to leave now, etc. You don't have to leave until the entire legal process is complete (foreclosure then eviction). What you do with it depends on how you want your credit to look going forward. If you just give it up, they will foreclose. If you sell it, it will likely be a short sale if you think it is upside down. Doing the short sale may get...

    2 lawyers agreed with this answer

  9. I have back taxes from 2010. If I file bankruptcy today, will I be able to discharge those taxes?

    Answered 9 months ago.

    1. Brian Crozier Whitaker
    2. Walter C Oney Jr
    3. Dustin James Wetton
    4. Jonathan David Leventhal
    5. Terrence Jay Moore
    6. ···
    7 lawyer answers

    No. The 3 years is from when the tax return was due, or when it was filed, whichever is later. Your 2010 return was due April 15, 2011. If you filed on time, those taxes cannot be discharged until April 15, 2014. If you filed late, add 3 years to the date you filed and that will be when they can discharged. There are exceptions to discharging tax debts for tax avoidance, fraud, etc. that could cause taxes for more than 3 years ago to still not be discharged. You will know if those apply to your...

    3 lawyers agreed with this answer

  10. A creditor not listed in notice to creditors now enacted a bank levy. Can I get my money back after the amendment to bankruptcy

    Answered 5 months ago.

    1. Blake Owen Brewer
    2. M. Todd Jackson
    3. Joseph Paul Middlebrooks Shapiro
    4. Brett D Weiss
    4 lawyer answers

    There is a Supreme Court case which holds that even if a creditor was omitted from your Chapter 7 bankruptcy case, they still cannot come after you to collect the money. It is possible that the creditor does not know that you were in bankruptcy since they are omitted. Get the attorney your discharge information and they should give you the money back. If they don't, they could be subject to sanctions with the court.

    1 lawyer agreed with this answer

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