Regulation X is a federal law that is designed to protect consumers from unfair and abusive practices in the mortgage servicing industry. It was enacted in 2013 by the Consumer Financial Protection Bureau (CFPB), in response to widespread abuses in the wake of the 2008 financial crisis. The main purpose of Regulation X is to...Read More

The Chapter 13 bankruptcy plan essentially puts you on an allowance for a period of time, to help you catch up on your bills, start rebuilding your credit score and get on with your life free of creditor harassment.   The Plan A Chapter 13 bankruptcy is sometimes referred to as the “wage-earner plan” or...Read More

Payday loans are generally dischargeable without any arguments in a Chapter 7 Bankruptcy, because these loans are unsecured debts. There are, however, a few special cases. Fraud If you borrowed money within 90 days prior to filing bankruptcy, there is a presumption of bankruptcy fraud. Simply stated, the law presumes that you never intended to...Read More

Preventing Home Foreclosure A previous post discussed some of the general aspects of a Chapter 13 Bankruptcy plan. For a homeowner who is delinquent their mortgage, the amount to be repaid may be substantially lower than the amount the moneylender claims that you owe. Mortgage Company Reasonableness Most mortgage companies are upfront and evenhanded when...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

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

Recent scheduled meetings of the Bankruptcy Rules Committee were cancelled, apparently due to lack of interest. There had been two meetings scheduled in January 2014, one in Chicago and one in Washington, D.C. According to federal law, meetings may be cancelled if there is a lack of public interest, the Standing Committee sees a need...Read More

The Middle District of Florida recently ruled that the automatic stay is a blanket protection that applies to multiple creditor claims, even if there is not a perfect symmetry of parties. The creditor is also known as the lender and the debtor as the borrower. Facts In Peterson et al v. Avantair et al, Avaintair...Read More

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