Thursday, May 6, 2010

The demon sheep saga continues...

Earlier this year, we posted about California Senate candidate Carly Fiorina's "Demon Sheep" video, which is probably the most talked-about political ad of this election cycle. With over 750,000 views, it has already spawned several parodies from members of the YouTube community.

Now the Democrats are getting in on the action - the DSCC has just released "Demon Sheep: Mutton on the Lamb," in which they report that Fiorina is "fleecing" California. They also insert several other sheep-related puns, which you can see for yourself here:


zhou said...

Is bankruptcy an option if you have been declined for a loan modification?

Many California homeowners have been hit hard with toxic subprime and Alt A home loans over the past few years, and it’s going to get worse before it gets better for most. With unemployment on the rise and pay cuts across most sectors many California home owners have sought loan modifications with no avail. With the increasing amount of short sales and foreclosures throughout California; “many home owners are seeking the advice of a bankruptcy attorney when declined for a loan modification” says attorney James D. Zhou with the Law Offices of Zhou & Chini. Zhou has been a bankruptcy attorney for over 10 years and states he has never seen such a perfect storm allowing home owners to strip 2nd and 3rd mortgage liens now that they are unsecured due to negative equity. “We see so many home owners is bad situations, eliminating 2nd mortgages along with their credit card debt get’s them a fresh start and potential equity in a few years” say’s attorney Ron Chini, partner at Zhou & Chini.
If you have been declined for a loan modification or even approved for one and have a underwater 2nd or 3rd lien it can be eliminated just like credit card debt. A chapter 13 with a motion to avoid the lien will strip the lien and eliminate ones personal liability for the debt. While filing a chapter 7 will only eliminate the liability but the lien will remain on the property. Many bankruptcy attorneys don’t even mess with a chapter 13 because they are complicated and would rather refer out a chapter 13 bankruptcy and focus on chapter 7 bankruptcies. Ideally someone declined for a loan modification should consult a bankruptcy lawyer that handles both chapter 7 and chapter 13 bankruptcy. If you were lucky enough to get a loan modification on a 1st TD and have a 2nd mortgage that’s upside down then filing chapter 13 to eliminate it may be a good choice or filing chapter 7 to eliminate all your other debt might make sense as well.
Bankruptcy is an option to help stop foreclosure, but if you are in arrears then you need to bring them current to file chapter 7 or you must file chapter 13 and repay the arrears in the chapter 13 plan. A bankruptcy attorney can tell you if you pass the means test and qualify for a chapter 7 if you get a loan modification. Bankruptcy with a loan modification is a powerful tool, and bankruptcy chapter 13 with a failed loan modification may save your home from foreclosure.
Making mistakes when it comes to filing bankruptcy chapter 7 or chapter 13 can be very costly so carefully select a bankruptcy attorney. To get bankruptcy help or locate a bankruptcy attorney in California visit


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