Distressed homeowners in the Northern District of Florida now have an additional option to try and keep their home. The court’s Mortgage Modification Mediation service allows homeowners, and lenders, access to experienced Chapter 13 mediators at a reduced cost. Although the parties are not required to reach an agreement, courts are generally much more inclined...Read More

In a boon for debtors, a federal court recently interpreted Section 523(a)(6) very narrowly. Facts In Communitywide Federal Credit Union v. Laughlin, Mr. Laughlin purchased a new car, with an $18,000 loan from CFCU. Ms. Laughlin was awarded the car in their divorce. A short time thereafter, Ms. Laughlin returned the car to Mr. Laughlin,...Read More

Florida has more long-term unemployed workers than almost any other state in the country. A recent report gave more identity to the long-term unemployed, or those who have been jobless for more than 26 weeks. In Florida, Alaska, California, Illinois, North Carolina, New York, Connecticut and Rhode Island, between 46% and 60% of the jobless...Read More

A major mortgage lender is returning to the subprime market. Since the mortgage collapse in 2008, skittish banks have only loaned money to the most credit-worthy consumers. Now, faced with a major revenue loss as mortgage lending volume declines overall, Wells Fargo may be loaning money to consumers with credit scores as low as 600....Read More

An increasing number of cities are turning to the power of eminent domain to reduce the number of residential home foreclosures. Cities in New Jersey, New York, Minnesota and California are exploring the possibility of “friendly condemnations” in which the city buys the mortgage of an underwater homeowner. If the investor refuses to sell, the...Read More

Consumer bankruptcy filings are expected to remain high in certain parts of the country. Although the filing rate is expected to decline overall in 2014, consumers in areas dominated by high unemployment and a poor housing market are expected to keep filing Chapter 13 Bankruptcy in large numbers. Meanwhile, more and more Chapter 7 bankruptcies...Read More

President Harry Truman once wished for a one-armed economist. The reason? Seemingly all his economic advisors consistently said “on the one hand X, but on the other hand Y.” Wage stagnation is a current case-in-point. It has become almost axiomatic to say that the middle-class is shrinking. One economist begs to differ, claiming that this...Read More

Home equity is exempt in Florida, although the amount of the exemption may be a matter of time. If you have a Home Equity Line of Credit, the actual debt may be wiped out but not the lien on your property What is a HELOC? Many people refer to a HELOC as a “home equity...Read More