The Gibbs Law Firm APC

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The Gibbs Law Firm, APC was founded in 1974 by Gerald R Gibbs. From day one, The Gibbs Law Firm, APC has been dedicated to providing its clients with the highest level of professional service, to upholding the dignity of the legal profession and to serving the local communities through on-going participation in charitable organizations. With an emphasis on Bankruptcy, Manufactured Housing Community, Real Estate and Business Law, we strive to provide a full range of legal services to individuals and businesses.
Call Us Now at (949) 492-3350 to learn how we can help you.

Bank Of America Halts All Foreclosures – Breaking News
**BREAKING NEWS** Today, Bank of America announced that it is temporarily suspending all residential foreclosures in all 50 states to allow then to further investigate reports of widespread fraud in the mortgage loan servicing industry’s handling of foreclosures. This represents a giant leap forward for consumers who have for years complained that mortgage loan servicing companies have ignored all laws related to mortgage underwriting, servicing and foreclosure. In recent days, several mortgage giants – GMAC, its parent Ally Bank, Chase and PNC have all voluntarily suspended foreclosures, but only in states where judicial foreclosure is required. Bank of America appears to be the only bank who has ceased all foreclosure activity pending its own investigation [more . . .]

Recently, Real Estate Law has seen some important changes, including:
The California Senate and Assembly have passed S.B. 1178, and it is now awaiting signature by the Governor. S.B. 1178 helps to clarify and extends protection from deficiency after a foreclosure. Presently, the holder of any mortgage that was in-fact used to pay the purchase price of the real estate which serves as collateral for the mortgage, is prohibited from seeking a deficiency judgment post-foreclosure. This is true whether the loan is a first, second or third mortgage. [more . . .]

As The Economy Grinds, Bankruptcy Just Got Harder . . .
Under the BAPCPA (the 2005 Amendments to the Bankruptcy Code), to file Chapter 7 bankruptcy, a debtor must pass a test. The test is in some respects very simple, and in others very complex. The very first step (which can be relatively easy) is to compare a debtors income to the median income for the State in which they live. These median income numbers are published by the Federal Government, and are adjusted annually. Come November 1, 2009, for the first time since the law was implemented, the median income for most states is going down [more . . .]