Hopefully you have read our blog yesterday titled “Facing Foreclosure? Know Your Options.” This part of the blog will examine how filing a personal bankruptcy can affect a foreclosure action. Chapter 7 bankruptcy As soon as you file your Chapter 7 petition, the automatic stay goes into effect. The stay prohibits any further collection activity...Read More
Many homeowners that contact us for help with their foreclosure action do not understand how or when a deficiency judgment applies to them. If you are “underwater” on your home and considering a short sale, offering a deed in lieu of foreclosure or defending a foreclosure action, it is imperative that you understand how deficiency judgments work...Read More
If you are a homeowner struggling to pay your mortgage, it is important to consider all of your debt relief options. Two options you should educate yourself about are filing for bankruptcy and short sales. What is a short sale? A short sale is the process that permits you to sell your house for a...Read More
It is always uplifting to hear stories about corporate America taking time to care about the little guy. Lear Capital We recently came across such a story about some Lear Capital business executives out of Los Angeles who paid the fines being assessed against a Florida homeowner. The homeowner, who was also a veteran, was...Read More
Many Florida homeowners are not aware of a helpful law called the “Foreclosure Rescue Fraud Prevention Act of 2008 (the “Act”).” If you are struggling to pay your mortgage loan and you believe foreclosure is in your future, it is important to understand how this relatively new law protects you. The Act requires a foreclosure...Read More
The thought of losing your home can be devastating. If you are facing a foreclosure action, it is important to seek legal assistance and learn what your options are for dealing with it. One option you may want to consider is filing a Chapter 7 or Chapter 13 bankruptcy. Many bankruptcies are filed by homeowners...Read More
If you are past due on your home loan payments, you are considered to be in default and the mortgage lender has the right to foreclose on your home. Your lender will typically send you notice of your default and the lender’s intent to accelerate the total amount due on the loan if you do...Read More
Florida has one of the highest foreclosure rates in our country. If you are facing foreclosure, it is important to be mindful that there are certain companies purchasing a large number of mortgage foreclosure judgments in the State. Once they are the owner, the company sues you for a deficiency judgment after the foreclosure of...Read More
The United States Bankruptcy Court for the Middle District of Florida, as well as the other districts of the state, has initiated the Mortgage Modification Mediation (MMM) program (also referred to as the Loss Mitigation Mediation program) in an effort to assist individuals with obtaining mortgage modifications. The program allows debtors who own an interest...Read More
The book has been closed on the previous decade’s mortgage crisis, sort of. In an April 2014 report, the General Accountability Office blasted the $10 billion settlement between the government and major banks. That lawsuit stemmed from allegations of rampant foreclosure abuse in the mortgage lending industry. The GAO said the settlement was based on...Read More
