Edward Gudeman

Gudeman & Associates, P.C. is a team of knowledgeable attorneys who assist individuals, families and businesses. For over 45 years, we have used our experience, expertise and knowledge of laws to ensure Michigan residents, their families and business are protected. Gudeman attorneys possess a comprehensive background in multiple practices including Estate Planning, Business Planning, Federal and State Taxation, Real Estate and other legal services.

University of Michigan Law School

J.D.

1971

President/Managing Attorney

Gudeman & Associates, P.C.

1971 - Current

Edward Gudeman graduated from the University of Michigan Law School at twenty-three years of age. He has practiced in many areas of the law and is an experienced, knowledgeable and aggressive practitioner.

Real Estate Broker

Michigan Department of Licensing and Regulatory Affiars

2001

American Bankruptcy Institute

Member

2009 - Current

Consumer Bankruptcy Association

Member

2007 - Current

United States Supreme Court Bar

Member

1978 - Current

United States Tax Court

Member

1975 - Current

6th Circuit Court of Appeals

Member

1975 - Current

Michigan

State Bar of Michigan

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Q. Can we sue for punitive damages in a mortgage fraud case with refinancing issues?

May 19, 2025

A: It is possible to pursue a lawsuit for punitive damages under a mortgage fraud cause of action in Michigan, provided certain conditions are met. Michigan law allows for punitive damages in cases involving fraud, where the conduct is extreme, willful, and intentional, and where the fraud results in significant harm to the plaintiff. The facts provided suggest potential grounds for such a claim, as the mortgage company allegedly misrepresented the terms of the refinance, failed to provide closing documents, and increased monthly payments significantly, which could be construed as fraudulent conduct MCLA § 750.219d. Residential mortgage fraud; prohibited conduct; venue; violation as felony; penalty; separate offenses; affirmative defense; property subject to forfeiture; order; definitions., MCL § 445.911. Action by person for declaratory judgment, injunction, or actual damages; class action by person for actual damages; order; hearing; receiver; sequestration of assets; cost of notice; limitations., Punitive Damages Standards State Law Survey.

In Michigan, fraud claims require proof of a false representation of a material fact, knowledge of its falsity, intent to induce reliance, actual reliance by the plaintiff, and resulting damages. The lack of closing documents and the discrepancy between the promised short-term refinance and the actual 30-year mortgage could support a claim of misrepresentation or fraudulent concealment. Michigan courts have recognized that silence or failure to disclose material facts, when there is a duty to disclose, can constitute actionable fraud.

Additionally, Michigan law provides remedies for fraud, including rescission of the contract, reformation of the agreement, and recovery of damages. Fraud damages are not limited to out-of-pocket losses but aim to provide the injured party the full benefit of the bargain. This includes the difference between the value of what was promised and what was actually received. If the mortgage agreement was obtained through fraudulent misrepresentation, the plaintiff could seek rescission or reformation of the contract, as well as damages for the increased financial burden caused by the misrepresented terms

Fraud Claims (MI).

Regarding punitive damages, Michigan law permits such awards in cases of fraud where the defendant's conduct is particularly egregious. Factors considered include the defendant's intent, awareness of misconduct, and the harm caused. The conduct described, if proven, could meet the threshold for punitive damages, as it involves intentional misrepresentation and significant financial harm to the plaintiff.

In conclusion, based on the provided facts and Michigan law, there is a basis to pursue a mortgage fraud claim and seek punitive damages. However, the success of such a claim will depend on the ability to prove the elements of fraud, the egregiousness of the defendant's conduct, and the resulting harm. It is advisable to consult with an attorney experienced in mortgage fraud litigation to evaluate the specific details of the case and develop a legal strategy. ... Read More

Q. How to prioritize repayment of personal guarantees when dissolving LLC without legal issues?

April 29, 2025

A: You might want to consider filing for bankruptcy. Chapter 7 will clear all the debt and priority is not an issue, if all the debt you describe is unsecured. If you do not qualify for Chapter 7 or do not want to take advantage of it, Chapter 13 will place all unsecured debt on equal footing.

Outside of bankruptcy, you should prioritize the amounts owed to the SBA. This is due to the fact that the SBA has some rather onerous statutory abilities to collect from you, including obtaining funds from qualified plans and even your Social Security, in addition to more conventional means of collection such as lawsuits.

This is not to mitigate the importance of the other debts, but you may be able to engage in debt settlement negotiations which may allow you to pay less than one dollar on the dollar of debt. Be mindful of the fact that release of debt outside of bankruptcy is considered to be taxable income.

Speak to a knowledgeable attorney before you proceed with any of the above. ... Read More

Q. Can executor transfer home to own name for reverse mortgage in Michigan?

April 18, 2025

A: As the executor, you could enter into written agreements with your brothers to acquire their interest contingent upon financing in the form a reverse mortgage. It could then be presented to the court for its approval., if required by the jurisdiction that you are in.

Upon approval you could proceed. But, make sure that before you enter into that written agreement that you qualify for the reverse mortgage and that the proceeds of that reverse mortgage will be sufficient to pay off your brothers interest in the real esstate.