Florida Foreclosure/Real Estate Law. E-Book. A Simple Guide to Florida Foreclosure/Real Estate Law. by: Florida Law Advisers, P.A.
|
|
- Ernest Ronald Fletcher
- 8 years ago
- Views:
Transcription
1 Florida Foreclosure/Real Estate Law E-Book A Simple Guide to Florida Foreclosure/Real Estate Law by: Florida Law Advisers, P.A. 1 Call: Web:
2 TABLE OF CONTENTS INTRODUCTION... 3 FIGHTING THE FORECLOSURE OF YOUR HOME... 3 PREDATORY LENDING... 4 SUING YOUR LENDER FOR TILA VIOLATIONS... 4 ROBO-SIGNING... 5 ALTERNATIVES TO FORECLOSURE... 5 DEED IN LIEU OF FORECLOSURE... 6 LOAN MODIFICATION... 6 SHORT SALE... 7 STRATEGIC DEFAULT... 8 HOW BANKRUPTCY CAN STOP FORECLOSURE... 8 AUTOMATIC STAY... 9 CHAPTER 13 BANKRUPTCY... 9 REMOVING A SECOND MORTGAGE IMPORTANT DISCLAIMER Call: Web:
3 INTRODUCTION Home foreclosure is a common problem in Florida; however, every homeowner s situation is unique and requires personalized attention. Our Tampa foreclosure defense lawyers always listen carefully to our clients in order to develop a detailed step-by-step strategy designed around their specific needs. Homeowners have a lot of options when it comes to fighting foreclosure and we want to make sure our clients choose the best strategic plan for their family. Whether you want to keep your home and prevent foreclosure, or walk away from your home without being responsible for any of the debt, Florida Law Advisers can help. Our Tampa foreclosure defense attorneys have years of experience helping homeowners in all types of foreclosure defense and loan modification matters. Our foreclosure defense lawyers will carefully evaluate your individual situation, advise you of your options, and develop a comprehensive legal strategy to help solve your mortgage problems. Our initial consultation is free and we offer flexible payment options to all of our clients. Florida Law Advisers, P.A. wants to provide you with solutions, not add to your financial burden. We will work with you to develop a payment plan that you can afford. We accept many forms of payment and offer our clients the choice of either a low cost flat fee or low cost hourly fee. Regardless of the option you choose, you will find that Florida Law Advisers charges less than many of the competing home foreclosure defense law firms in the Tampa Bay Area. Contact us today by telephone, web form, or chat to schedule your free consultation and see how we can help you. FIGHTING THE FORECLOSURE OF YOUR HOME As a homeowner, you have many legal rights that you can and should assert against your mortgage company. With skilled and aggressive legal representation on your side, you may be able to stop the foreclosure and even successfully countersue your mortgage company. The foreclosure defense attorneys at Florida Law Advisers, P.A. have years of experience protecting homeowners and fighting unscrupulous mortgage companies. The lender will be fighting vigorously to foreclosure on your home, and you should have an aggressive Tampa foreclosure defense attorney on your side to protect your rights. If you have been threatened with foreclosure contact us today to learn about your rights and how you can countersue your mortgage company. At Florida Law Advisers, P.A., we take an aggressive approach to defending clients faced with foreclosure. We carefully scrutinize all of the mortgage documents and loan terms to identify any possible violation that we can use to fight the foreclosure. Our attorneys have years of experience helping homeowners in the Tampa Bay area stay in their homes, and can readily lending violations committed by your mortgage company. If we do uncover that your lender has committed lending violations against you, we will aggressively seek the maximum penalty allowed under the law. 3 Call: Web:
4 Predatory Lending Predatory lending refers to unfair, deceptive, or fraudulent practices used by a lender during the loan origination process. Predatory lending imposes unfair and abusive terms on unsuspecting homeowners which can have devastating consequences. Fortunately, there are many laws in place to protect homeowners from predatory lending, such as The Real Estate Settlement Procedures Act, Truth in Lending Act, Equal Credit Opportunity Act, and The Home Ownership and Equity Protection Act. If your lender engaged in predatory lending during your mortgage origination you may be able to sue your lender and stop the foreclosure of your home. Predatory lending violations may entitle you to void the mortgage and apply 100% of the payments you made directly to principal, thereby eliminating all the interest charges. In addition, you may be able to sue and recover damages for the harm caused by the predatory lending practices. If you suspect that you were the victim of predatory lending, do not hesitate to contact Florida Law Advisers, P.A. for legal assistance. Examples of predatory lending include: Excessive fees Steering borrowers toward less beneficial loan programs, such as adjustable rate mortgages Unfair prepayment penalties Hidden mandatory arbitration clauses in the mortgage agreement Unnecessary refinances that provide no benefit to the homeowner When you visit our firm for your free consultation we will provide a thorough review of your case and explain the legal options available to you. If you were the victim of predatory lending we can take legal action to defend your rights and seek justice for the harm caused by the illegal lending practices. Our foreclosure defense attorneys are dedicated to fighting predatory lending and protecting homeowners in our community. We carefully scrutinize all of the mortgage documents and loan terms to identify any evidence of predatory lending. If we do uncover that your lender has engaged in predatory lending we will aggressively seek the maximum penalty allowed under the law. Suing Your Lender For TILA Violations In 1968, Congress enacted the Truth in Lending Act (TILA) to protect borrowers from unscrupulous lenders. The act is designed to promote the informed use of consumer credit by requiring standardized disclosures, which highlight the terms and cost of the loan. TILA requires that mortgage companies disclose all pertinent terms, costs, and fees associated with the mortgage by using standardized forms. If a mortgage company does not disclose certain terms and costs of your mortgage using the standardized forms, they will be in direct violation of the Act. These violations may give you the right to: Sue for damages caused by the violation Rescind (cancel) the mortgage Sue for statutory damages 4 Call: Web:
5 Recover attorney fees and court costs associated with enforcing your TILA rights Robo-Signing Robo-signing is the practice of a bank employee signing documents and affidavits without verifying that the information contained in the document or affidavit is correct. Many foreclosure documents require the signer to personally attest that they have reviewed the document before signing it. Failing to review the document or affidavit before signing it can call into question the banks legal right to foreclose on a home. Robo-signing has become a pervasive problem in the mortgage industry, with widespread use reported by many of our country s largest mortgage companies. If your bank is threatening you with foreclosure you should contact a Tampa foreclosure defense attorney to investigate your case for evidence of robosigning. Florida is a judicial foreclosure state, which means that a lender must go to court and receive court approval before foreclosing on a home. If the foreclosure documents are invalid a court has the authority to deny the lender the right to foreclose on the home. For instance, the court may deny the lender s petition to foreclose on the home if a mortgage document or affidavit is suspected of being robo-signed. Attempting to foreclose on a home after robo-signing essential documents is an irresponsible practice that judges seek to correct for the homeowner. At Florida Law Advisers, P.A., our attorneys tactfully question the validity of mortgage documents by calling into question a lender s right to foreclose. If a homeowner is able to cast doubt regarding the bank s validity of the foreclosure process, the lender may be more willing to negotiate and withdraw the foreclosure case. By challenging the validity of the mortgage documents, lenders may discover their case was on thin grounds and it s in their best interest to negotiate. In negotiations, lenders may offer to reduce the principal balance, lower the interest rate, and modify the mortgage so that its terms are more beneficial to the homeowner. ALTERNATIVES TO FORECLOSURE If you are struggling to keep up with your mortgage it is important to know that you have options and a foreclosure does not have to be one of them. Our foreclosure defense attorneys have helped many homeowners avoid foreclosure by taking advantage of alternatives to foreclosure. At Florida Law Advisers, P.A., we explain all of the foreclosure alternatives that our clients have so that they can choose the path that is best for their family. Our Tampa foreclosure defense lawyers will answer all of your questions and discuss the potential benefits and consequences that may arise with each option. Whether you decide to pursue: a deed in lieu of foreclosure, short sale, loan modification, bankruptcy protection, or legally challenge the foreclosure, Florida Law Advisers, P.A. can help. Our Tampa foreclosure defense attorneys can develop a comprehensive legal strategy based on your specific situation to help solve your current mortgage crisis. 5 Call: Web:
6 Deed in Lieu of Foreclosure A deed in lieu of foreclosure is when a homeowner voluntarily gives title of the property to the mortgage company. A deed in lieu of foreclosure can help homeowners who are interested in walking away from the property avoid the consequences of a foreclosure. Lenders will often accept a deed in lieu of foreclosure to save money on legal fees and bring closure to the matter much quicker than filing for foreclosure. If you are considering negotiating a deed in lieu of foreclosure with your mortgage company, before calling your lender you should contact us to schedule a free consultation with a foreclosure defense attorney. A deed in lieu of foreclosure is not always a straightforward procedure and homeowners may still be responsible to the lender for the mortgage even after giving up title to the property. Typically, unless your deed in lieu of foreclosure agreement says otherwise, your lender may have the right to seek a deficiency judgment against you. A deficiency judgment will allow the lender to file lawsuits and take collection actions against you for the unpaid mortgage debt. At Florida Law Advisers, P.A., we take an aggressive approach with lenders to obtain agreements that will prevent our clients from facing the risk of a deficiency judgment. Our professional legal team has years of experience protecting homeowners and aggressively fighting greedy mortgage companies. Another area of concern for homeowners interested in a deed in lieu of foreclosure is the potential tax consequences. In most deed in lieu cases, there will be a forgiveness of debt by the lender, which is considered a cancellation of debt by the Internal Revenue Service (IRS). If the mortgage balance is greater than the market value of the home, the lender can issue a 1099C for the difference between the home s market value and your mortgage balance. The 1099C reports the debt forgiven as income to the IRS, and you may have to pay taxes on the amount of debt forgiven. However, not all deed in lieu of foreclosures will result in the lender issuing a 1099C. You should speak with a foreclosure defense attorney to see if you may be exposed to the added tax liability. Loan Modification If you have fallen behind on your mortgage payment or are struggling to stay current, a loan modification may provide the solution you need. Loan modification creates a permanent change to one or more of the terms of your mortgage agreement. A loan modification can lower your monthly payment by eliminating late fees, reducing your interest rate, extending the time to repay, and lowering your principal balance. Loan modifications are intended to provide homeowners with a long-term solution to their mortgage problem. However, obtaining a loan modification is not always a straightforward and easy process. If you are seeking a loan modification, you should not go through the process alone. Competent legal representation can increase the chances of the lender approving your request and make the terms of the modification more favorable to you. Our Tampa foreclosure defense attorneys may be able to convince your lender to modify your mortgage to eliminate late fees, lower the monthly payment, extend the amount of time you have to repay, lower 6 Call: Web:
7 your interest rate, and even reduce the principal balance of your mortgage. As experienced mortgage modification lawyers, we understand how to talk to lenders, get their attention, and force them to negotiate fairly with us. Our aggressive approach with mortgage companies has given our clients the opportunity to avoid foreclosure and retain ownership of their home. Our Tampa foreclosure defense lawyers can help homeowners modify their mortgage, whether they are behind on the monthly payment, in default, or even up to date with their mortgage payment. Short Sale In a short sale, the homeowner and mortgage company agree to sell the home for less than the amount owed on the mortgage. Short sales may be a good option for homeowners who have no equity in the property and want to abandon the home without going through the foreclosure process. Short sales are beneficial to homeowners because they are able to walk away from the property without a lengthy legal battle, and they can minimize the damage done to their credit score. On the other hand, lenders will avoid the costs associated with foreclosing on a home. The decision to pursue a short sale should not be made without first obtaining legal counsel. There are many other foreclosure alternatives that may be a better fit for your specific situation, such as a deed in lieu, loan modification, or bankruptcy. In addition, there are many potential disadvantages to a short sale that homeowners should be made aware of. While a short sale may not be as harmful to your credit score as a foreclosure or bankruptcy filing, there will still be some damage done to your credit rating from the short sale. In addition, you may be required to sign a promissory note to pay the difference between the purchase price and amount owed on the mortgage. The promissory note will make you liable for the debt, and the lender can pursue collection and legal actions against you to collect the amount owed. If the lender does not require you to sign a promissory note, you may have to pay taxes on the amount of debt the lender has agreed to forgive as a condition of the short sale. At Florida Law Advisers, P.A. our foreclosure defense attorneys know how to negotiate with lenders to obtain the results our client s want and deserve. Our Tampa foreclosure defense attorneys have gained years of experience from working with homeowners and mortgage companies in negotiating short sales and fighting foreclosure. If you decide to pursue a short sale, we can handle all of the negotiations with your mortgage company and draft all of the necessary documentation to help ensure your rights are protected and the process is as stress-free as possible. 7 Call: Web:
8 STRATEGIC DEFAULT Strategic default is when a homeowner intentionally stops making payments on a mortgage, despite having the financial means to pay it. Strategic default is often in response to a sharp decrease in the property s value, which causes the mortgage debt to be greater than the home s market value. This is commonly referred to as having negative equity in the property. When dealing with negative equity, many homeowners decide that it is in their best interest to stop paying the mortgage and walk away from the property. If you are considering a strategic default, you should contact Florida Law Advisers, P.A. to speak with a foreclosure defense attorney before taking any action. By speaking with an attorney at our firm you will know exactly how the strategic default process works, what you can expect from it, and help protect yourself from unwanted consequences. Simply walking away from the property and refusing to make the mortgage payments is not a good solution. Without competent legal representation, a default can result in the lender obtaining a deficiency judgment against you. A deficiency judgment will allow the lender to file lawsuits and take collection actions against you for the unpaid mortgage debt. The deficiency judgment will hold you personally responsible for the debt and can allow the lender to place a lien on other property you own, such as a car or vacation home. The lender can seek a deficiency judgment for the difference between the sale price of the home and your mortgage balance. For instance, if your home sells for $150,000 at a foreclosure auction and your mortgage balance is $200,000, the lender may have the right to seek a $50,0000 deficiency judgment against you. With so much on the line, it is in your best interest to have legal representation by your side. HOW BANKRUPTCY CAN STOP THE FORECLOSURE OF YOUR HOME If you have fallen behind on your mortgage and your lender has threatened to foreclose on your home, bankruptcy may be able to stop the foreclosure and make your mortgage payments more manageable. At Florida Law Advisers, P.A. our foreclosure defense attorneys have helped many homeowners prevent a foreclosure and lower their monthly payment by filing for bankruptcy. Bankruptcy is a useful tool, but it may not be the right solution for everyone. To find out more about how bankruptcy can prevent a home foreclosure, contact us to schedule a free consultation with a Tampa bankruptcy lawyer at our firm. During the consultation a bankruptcy attorney will review the facts of your case and help develop a comprehensive solution to solve your financial problems. 8 Call: Web:
9 The Automatic Stay Filing for bankruptcy will stop any home foreclosure action by your lender under the automatic stay provision of the U.S. Bankruptcy Code. When you file for either Chapter 13 or Chapter 7 bankruptcy, the court will automatically enact a stay. The stay requires all collection actions against you to stop immediately. Creditors and collection agencies will not be able to contact you, garnish your wages, or repossess your property while the automatic stay is in effect. The automatic stay may even put a stop to a scheduled foreclosure sale of your home. In most cases, the automatic stay will remain in effect until your bankruptcy case is discharged. The automatic stay can help provide a homeowner with more time to catch up on their mortgage or to fight the foreclosure in court. Chapter 13 Bankruptcy Chapter 13 is a reorganization bankruptcy, it gives you the opportunity to reorganize your debt into a more manageable payment. In addition, it may provide you up to 5 years to catch up on missed mortgage payments without being charged additional interest from your lender. Chapter 13 may also allow you to remove a second mortgage from your home. If you have two mortgages on your house and your primary mortgage exceeds the current market value of the property, you may be able to remove the second mortgage in bankruptcy. Once the mortgage is removed from the property it will be treated like any other unsecured debt in the bankruptcy process. In Chapter 13 bankruptcy secured creditors must be paid in full, however, unsecured creditors do not. A secured loan is a loan that has collateral, such as a car loan or home mortgage. Unsecured debts in Chapter 13 may be discharged without receiving any payment. Therefore, if a 2nd mortgage is treated as an unsecured loan it may be discharged without requiring the homeowner to pay any portion of the debt. Once the 2nd mortgage is discharged it will no longer be a lien on the property and the homeowner will be released of all liability. In order to classify a 2nd mortgage as an unsecured debt, the market value of the home must be equal to or less than the balance of the first (primary) mortgage. Collateral will not be left for the second mortgage if the market value does not exceed the amount owed to the primary mortgage, and thus the loan will be treated as an unsecured loan in bankruptcy. The market value of the home will be determined by an independent home appraiser and reviewed by the court. Once the discharge is entered by the court, the mortgage lien will be deemed void and automatically extinguished without any further court action necessary. 9 Call: Web:
10 Removing a 2nd Mortgages If you are struggling to keep up with your monthly payments and have more than one mortgage on your home, Chapter 13 bankruptcy may provide the relief you need. Under Chapter 13 bankruptcy law, you may be able to remove a 2nd mortgage from your home and discharge the debt in bankruptcy. The discharge will release you from all personal liability on the mortgage and extinguish the lien placed on your property. At Florida Law Advisers, P.A., our bankruptcy attorneys have helped many homeowners prevent a foreclosure and lower their monthly payment by filing for bankruptcy. Bankruptcy is a useful tool but it may not be the right solution for everyone. You should contact us to schedule a free consultation with a Tampa bankruptcy lawyer before taking any action. During the consultation we can explain exactly how the bankruptcy process works and what you can expect by filing for bankruptcy. How To Remove A 2nd Mortgage: A secured loan is a loan that has collateral, such as a car loan or home mortgage. In Chapter 13 bankruptcy secured creditors must be paid in full, however, unsecured creditors do not. Unsecured debts in Chapter 13 may be discharged without receiving any payment. Therefore, if a 2nd mortgage is treated as an unsecured loan it may be discharged without requiring the homeowner to pay any portion of the debt. Once the 2nd mortgage is discharged it will no longer be a lien on the property and the homeowner will be released of all liability. In order to classify a 2nd mortgage as an unsecured debt, the market value of the home must be equal to or less than the balance of the first (primary) mortgage. Collateral will not be left for the second mortgage if the market value does not exceed the amount owed to the primary mortgage, and thus the loan will be treated as an unsecured loan in bankruptcy. The market value of the home will be determined by an independent home appraiser and reviewed by the court. Once the discharge is entered by the court, the mortgage lien will be deemed void and automatically extinguished without any further court action necessary. 10 Call: Web:
11 CONTACT US Phone: (800) Website: DISCLAIMER The information contained in this E-Book and on the website, is for general information purposes only. Nothing contained in this E-book or on the website, should be taken as legal advice for any individual case or situation. The information is Not intended to create an attorney client relationship. NO reader of this E-book or visitor of should consider this site or the information contained herein to be an invitation for creation of an attorney-client relationship, and you should Not rely on the information provided. If you have a legal question, you should seek the advice of a licensed attorney in your state. Any link or links contained in this site are for convenience only, and does not constitute a referral to, or endorsement of, the linked services or persons. 11 Call: Web:
An Overview of Foreclosure
An Overview of Foreclosure While the rising number of foreclosures is an alarming national trend, the real hardship is for any individual or family who knows the threat of foreclosure firsthand. Unfortunately,
More informationA Florida Homeowner s Guide to. Defending their Foreclosure
A Florida Homeowner s Guide to Defending their Foreclosure Presented by: Alliance Legal Group. Please note: This guide contains legal information but not legal advice. Unless we have been hired by you,
More informationHelping Elderly Homeowners Victimized by Predatory Mortgage Loans
Helping Elderly Homeowners Victimized by Predatory Mortgage Loans Equity-rich, cash poor elderly homeowners are an attractive target for unscrupulous mortgage lenders. Many elderly homeowners are on fixed
More informationWHAT TO DO WHEN YOU CAN'T PAY YOUR BILLS: MANAGING YOR DEBT
This material is provided to answer general questions about the law in New York State. The information and forms were created to assist readers with general issues and not specific situations, and, as
More informationShort Sale Seller Advisory
Short Sale Seller Advisory Short Sale Seller Advisory Recent economic challenges have resulted in many homeowners needing to sell their home but owing more on their home than the home is worth. This advisory
More informationOPTIONS IN FORECLOSURE
Section II: KEEPING YOUR HOME OPTIONS IN FORECLOSURE Deciding whether or not to keep your home is something that only you, the homeowner, can determine. The best housing counselors will ask what you d
More informationI m behind in my mortgage payments, what should I do?
FORECLOSURES This handout was prepared by Legal Services of Greater Miami, Inc.(LSGMI) with support from the Institute for Foreclosure Legal Assistance. LSGMI represents homeowners in foreclosure and homeowners
More informationMortgage Forgiveness Debt Relief Act. Cancellation of Debt (COD) Income. Recourse Loan 10/6/2014. Consequences of the expiration of the act
Mortgage Forgiveness Debt Relief Act Consequences of the expiration of the act Cancellation of Debt (COD) Income When a loan is forgiven without being paid back, COD Income is created. That amount is included
More informationThe Top Seven Financial Pitfalls Every Homeowner Facing Foreclosure Must Avoid
The Top Seven Financial Pitfalls Every Homeowner Facing Foreclosure Must Avoid The foreclosure process is perplexing, even for those experienced in real estate. Real estate agents, attorneys, mortgage
More informationCHAPTER 7 BANKRUPTCY BOOKLET
CHAPTER 7 BANKRUPTCY BOOKLET By Gerardo M. DelGado, Esq. AMABLE LAW PLLC gdelgado@amablelaw.com INTRODUCTION This information is intended as general information ONLY. It is NOT legal advice. You should
More informationMortgage Loans. Understand the Terms of Your Loan before You Sign. Mortgage Loans. Standard Home Equity Loans or Second Mortgages
Mortgage Loans Understand the Terms of Your Loan before You Sign This brochure can help you determine what is best for your situation, become familiar with mortgage loan terms, and learn what is involved
More informationBankruptcy and Short Sales
Bankruptcy and Short Sales What agents need to know April 2013 Bankruptcy and Short Sales What happens to the short sale if the seller files for bankruptcy? Bank of America can review a short sale offer
More informationLAUREN ROSS Attorney at Law 2550 N. Hollywood Way Suite 404 Burbank, CA 91505-5046 Tel.(818) 847-0211 Facsimile (818) 847-0214
LAUREN ROSS Attorney at Law 2550 N. Hollywood Way Suite 404 Burbank, CA 91505-5046 Tel.(818) 847-0211 Facsimile (818) 847-0214 INITIAL CONSULTATION AGREEMENT AND REQUIRED NOTICES Please Note: These documents
More informationCONSUMER. Steps That Advocates Can Take To Help Prevent Foreclosure
CONSUMER Information for Advocates Representing Older Adults National Consumer Law Center Steps That Advocates Can Take To Help Prevent Foreclosure How Foreclosures Work CONCERNS Foreclosure or the threat
More informationCONSULTATION AGREEEMENT and ACKNOWLEDGEMENT OF RECEIPT OF DICLOSURES AND INSTRUCTIONS
CONSULTATION AGREEEMENT and ACKNOWLEDGEMENT OF RECEIPT OF DICLOSURES AND INSTRUCTIONS This agreement is entered on this day between the undersigned (hereinafter referred to as "Client") and ADRIAN M. LAPAS,
More informationTYPES OF BANKRUPTCY There are three main types of bankruptcy cases. These are referred to by their chapter number in the Bankruptcy Code.
SOME INFORMATION ABOUT BANKRUPTCY People who are having trouble paying their debts sometimes consider bankruptcy as a remedy for this situation. An individual, called a debtor, usually files bankruptcy
More informationCHRISTMAN & FASCETTA, LLC FLAT FEE AGREEMENT AND HOURLY FEE PROVISIONS
CHRISTMAN & FASCETTA, LLC FLAT FEE AGREEMENT AND HOURLY FEE PROVISIONS, (hereinafter referred to as client or you ), hereby engages the Law Offices of Christman & Fascetta, LLC to prepare and file a Chapter
More informationBankruptcy Guide for Beginners
Bankruptcy Guide for Beginners Answers to 20 common bankruptcy questions We hope you find this guide useful and informative. We look forward to helping you eliminate debt and get a fresh financial start.
More informationCONSUMER. Helping Elderly Homeowners Victimized by Predatory Mortgage Loans
CONSUMER Information for Advocates Representing Older Adults National Consumer Law Center Helping Elderly Homeowners Victimized by Predatory Mortgage Loans Equity-rich, cash poor, elderly homeowners are
More informationHome Mortgage Foreclosures in Maine
Home Mortgage Foreclosures in Maine Find more easy-to-read legal information at www.ptla.org Important Note: This is very general information about home mortgage and foreclosure rules in Maine. It is not
More informationUNDERSTANDING THE COLLECTION PROCESS FOR COMMUNITY ASSOCIATIONS
UNDERSTANDING THE COLLECTION PROCESS FOR COMMUNITY ASSOCIATIONS 1. PRE-LITIGATION BY: MULCAHY LAW FIRM, P.C. Almost every community association has problems in collecting unpaid assessments. Most associations
More information12 Questions You Can Ask About Foreclosure Defense & Loan Modification
12 Questions you should ask About Foreclosure Defense and Loan Modification (Courtesy of the Law Offices of Casanova & Kucera, PLLC) 1) What is a Mortgage Foreclosure? A mortgage foreclosure is legal action
More information1. Only 20 days to file answer or other responsive pleading to summons and complaint in foreclosure action.
PREDATORY MORTGAGE LENDING FORECLOSURE DEFENSE Attorney Catherine M. Doyle Legal Aid Society of Milwaukee 521 N. 8 th Street Milwaukee, WI 53233 (414) 727-5331 cdoyle@lasmilwaukee.com I. MORTGAGE FORECLOSURE
More informationFORECLOSURE. I don t think I can make my mortgage payments but I don t want to go through a foreclosure. What are some of my options?
FORECLOSURE When you borrow money to buy a house or land, the creditor usually takes a security interest in the property you buy. This means that if you don t pay, the creditor can foreclose upon (or take
More informationProviding legal help for low-income and disadvantaged people in Missouri. How to Avoid Losing Your Home in a Mortgage Foreclosure - Revised 2006.
Missouri Legal Aid Programs Providing legal help for low-income and disadvantaged people in Missouri www.lsmo.org Home Foreclosures How to Avoid Losing Your Home in a Mortgage Foreclosure - Revised 2006.
More informationWilliams Bankruptcy A Debt Relief Agency helping people eliminate debt and obtain relief under Chapter 7 of the Bankruptcy Code
A Publication of the Law Office of Richard L. Williams Williams Bankruptcy A Debt Relief Agency helping people eliminate debt and obtain relief under Chapter 7 of the Bankruptcy Code Tips for Questionnaire
More informationPATHS OF A FORECLOSURE IN NEW YORK STATE
PATHS OF A FORECLOSURE IN NEW YORK STATE BORROWER DELINQUENT 2-3 months late with mortgage payments Lender sends notices, bills, letters to borrower stating that he/she is delinquent Borrower has multiple
More informationWhy File Bankruptcy?
Why File Bankruptcy? You are trying to keep debts current, but are borrowing from one card to pay the other. You are trying to keep debts current by using your savings. You are trying to keep debts current
More informationBankruptcy in Florida
Bankruptcy in Florida SOME INFORMATION ABOUT BANKRUPTCY People who are having trouble paying their debts sometimes consider bankruptcy as a remedy for this situation. An individual, called a debtor, usually
More informationAlways Ask Questions Before you Retain a Bankruptcy Attorney
Always Ask Questions Before you Retain a Bankruptcy Attorney Deciding to file bankruptcy is a stressful time. You're about to turn your life upside down in order to eliminate debt that you can't pay. Because
More informationNOTICE NO. 1 Notice Mandated by Section 342(b)(1) and 527(a)(1) Of The Bankruptcy Code:
Mandatory Bankruptcy Disclosures The following mandatory disclosures are required under Section 527 and 342 of the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) of 2005. NOTICE NO. 1
More informationPATHS OF A FORECLOSURE IN NEW YORK STATE
PATHS OF A FORECLOSURE IN NEW YORK STATE BORROWER DELINQUENT 2-3 months late with mortgage payments 90-DAY PRE-FORECLOSURE NOTICE Lender sends notices, bills, letters to borrower stating that he/she is
More informationJoint Federal-State Mortgage Servicing Settlement EXECUTIVE SUMMARY
Joint Federal-State Mortgage Servicing Settlement EXECUTIVE SUMMARY The settlement between the state attorneys general and the five leading bank mortgage servicers will result in approximately $25 billion
More informationSURVEY OF SELECTED BANKRUPTCY ISSUES APPLICABLE TO HOMEOWNERS ASSOCIATIONS
SURVEY OF SELECTED BANKRUPTCY ISSUES APPLICABLE TO HOMEOWNERS ASSOCIATIONS DISCLAIMER The information provided in this survey of bankruptcy issues is for informational purposes only. It does not constitute
More informationLOAN MODIFICATIONS FOR CALIFORNIA NONPROFITS AFFECTED BY THE ECONOMIC DOWNTURN
LOAN MODIFICATIONS FOR CALIFORNIA NONPROFITS AFFECTED BY THE ECONOMIC DOWNTURN Publication Date: August 2009 This information sheet is published as part of Public Counsel s Turning the Tide program, a
More informationFrequently Asked Questions Short Sale Negotiators & Foreclosure Consultants
***These questions and answers represent a majority of the specific issues contained in the questions that were collected at the Fraud Symposium. The answers are a collaborative effort from DOJ, DCBS and
More informationChapter 13 Bankruptcy Reorganization/Debt Discharge - A Guide to the Distressed Florida Homeowner Facing Foreclosure
Chapter 13 Bankruptcy Reorganization/Debt Discharge - A Guide to the Distressed Florida Homeowner Facing Foreclosure (as of March 13, 2009) By: Jordan E. Bublick, Attorney at Law, Miami, Florida Practice
More informationBankruptcy Law Firm Ursula Jones, Attorney
ATTORNEY-CLIENT BANKRUPTCY RETAINER AGREEMENT The Client(s) hereby enter into this Attorney-Client Retainer Agreement with Ursula Jones ( Attorney ). 1. TOTAL FEES AND COSTS (a) Fixed Fee: A fixed fee
More informationTEN LOOPHOLES THAT CAN STOP FORCLOSURE FAST
TEN LOOPHOLES THAT CAN STOP FORCLOSURE FAST Copyright Notice All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means electronic or mechanical. Any
More informationBANKRUPTCY TERMINOLOGY
ADVERSARY PROCEEDING BANKRUPTCY TERMINOLOGY A lawsuit arising in or related to a bankruptcy case that is commenced by filing a complaint with the bankruptcy court. ASSUME An agreement to continue performing
More informationA Guide To Understanding The Community Association Collection And Foreclosure Process
A Guide To Understanding The Community Association Collection And Foreclosure Process What is the initial demand letter? What is a Claim of Lien? What is a thirty (30) day letter? How do you foreclose
More informationMilitary Lending Basics
Military Lending Basics ABA Business Law Section Meeting Consumer Financial Services Committee Wednesday, April 15, 2015 Joseph J. Schuster Consumer Financial Services Group 215.864.8614 furlettim@ballardspahr.com
More informationGENERAL TIPS FOR BUYING/SELLING A HOME Office of the Staff Judge Advocate, MacDill Air Force Base, Florida (813) 828-4422
GENERAL TIPS FOR BUYING/SELLING A HOME Office of the Staff Judge Advocate, MacDill Air Force Base, Florida (813) 828-4422 TYPES OF HOMES Buying a house will be one of the biggest investments one will ever
More informationTired of the Foreclosure Threat?
Y o u r R e a l E s t a t e S t r e s s R e l i e f Tired of the Foreclosure Threat? Learn about the 6 options available to you when you are facing foreclosure Loan Modification Foreclosure Prevention
More informationCommon Mortgage and Foreclosure Terms
H ELP FOR N EW Y ORK S TATE H OMEOWNERS C ONCERNED A BOUT F ORECLOSURE Common Mortgage and Foreclosure Terms Talking about mortgages can feel like speaking a foreign language and is even more confusing
More informationConsumer Bankruptcy in Florida
Consumer Bankruptcy in Florida SOME INFORMATION ABOUT BANKRUPTCY People who are having trouble paying their debts sometimes consider bankruptcy as a strategy for resolving this situation. An individual,
More informationTHE DEBT SETTLEMENT TRAP: THE #1 THREAT FACING DEEPLY INDEBTED AMERICANS
THE DEBT SETTLEMENT TRAP: THE #1 THREAT FACING DEEPLY INDEBTED AMERICANS Already struggling with home foreclosures, harsh bank and credit card fees, and other major financial challenges, America s most
More informationCREDIT, DEBT COLLECTION, & BANKRUPTCY
Chapter Four CREDIT, DEBT COLLECTION, & BANKRUPTCY Credit is money, goods or services provided to an individual who promises to pay the lender at a later time. You may not be denied credit because of your
More informationCODING: Words stricken are deletions; words underlined are additions. hb0087-00
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 A bill to be entitled An act relating to mortgage foreclosures; amending s. 95.11, F.S.; revising the limitations period for commencing
More informationCoping with debt. Self-help. Dealing with debt collectors. Managing your auto and home loans. Developing a budget. Contacting your creditors
Coping with debt Having trouble paying your bills? Getting collection notices from creditors? Are your accounts being turned over to debt collectors? Are you worried about losing your home or your car?
More informationChapter 5. Real Estate Finance Instruments. Chapter Objectives. Promissory Notes 10/11/2012
Chapter 5 Real Estate Finance Instruments 1 Chapter Objectives Contrast a financing instrument from a security instrument. Discuss advantages and disadvantages of trust deeds. Discuss advantages and disadvantages
More informationIs Cancellation of Debt Income Taxable? One question that I am asked often these days is whether cancellation of debt (COD) income is taxable or not?
Is Cancellation of Debt Income Taxable? One question that I am asked often these days is whether cancellation of debt (COD) income is taxable or not? For tax purposes, the general rule is that all debt
More informationGlossary of Foreclosure Fairness Mediation Terminology
Glossary of Foreclosure Fairness Mediation Terminology Adjustable-Rate Mortgage (ARM) Mortgage repaid at the rate of interest that increases or decreases over the life of the loan based on market conditions.
More informationFTC FACTS for Consumers
ftc.gov FEDERAL TRADE COMMISSION FOR THE CONSUMER 1-877-FTC-HELP FTC FACTS for Consumers Mortgage Payments Sending You Reeling? Here s What to Do T he possibility of losing your home because you can t
More informationYOUR LEGAL RIGHTS DURING
YOUR LEGAL RIGHTS DURING AND AFTER BANKRUPTCY: MAKING THE MOST OF YOUR BANKRUPTCY DISCHARGE Copyright April 2011, Legal Aid Society of Hawai`i All rights reserved. These materials may not be reproduced
More informationUNITED STATES BANKRUPTCY COURT EASTERN DISTRICT OF MICHIGAN SOUTHERN DIVISION
UNITED STATES BANKRUPTCY COURT EASTERN DISTRICT OF MICHIGAN SOUTHERN DIVISION In Re: Jason D. Misleh, Case Number: 15-41721 Debtor. Chapter 13 Honorable Mark A. Randon / I. INTRODUCTION OPINION AND ORDER
More informationPATHS OF A FORECLOSURE IN NEW YORK STATE
PATHS OF A FORECLOSURE IN NEW YORK STATE BORROWER DELINQUENT 2-3 months late with mortgage payments if S/P or N/T 90-DAY PRE-FORECLOSURE NOTICE* for all subprime and non-traditional loans (as defined by
More informationNOTICE NO. 1. Notice Mandated By Section 342(b)(1) and 527(a)(1) of the Bankruptcy Code PURPOSES, BENEFITS AND COSTS OF BANKRUPTCY
NOTICE NO. 1 Notice Mandated By Section 342(b)(1) and 527(a)(1) of the Bankruptcy Code PURPOSES, BENEFITS AND COSTS OF BANKRUPTCY The United States Constitution provides a method whereby individuals, burdened
More informationDebt Collection From the Debtor s Perspective. A Few Facts About the Debt Burden of American Households. Debt Facts 8/14/2013
Debt Collection From the Debtor s Perspective Linda Cook Senior Staff Attorney Ohio Poverty Law Center lcook@ohiopovertylaw.org 2013 Ohio Poverty Law Center A Few Facts About the Debt Burden of American
More informationHow to STOP Foreclosure
1 How to STOP Foreclosure A Free Report from KentuckySolutions.com Kentucky s Real Estate Problem Solvers (Press Control-P to Print) 2 Introduction As Local Investors experienced in the Kentucky foreclosure
More informationPresented by Gina Silvestri, Esq.
Why file for a Bankruptcy? Loss of job? Medical bills? Foreclosure? Divorce? Just a run of bad luck? A fundamental goal of the federal bankruptcy laws is to give debtors a financial fresh start from burdensome
More informationInstructions for Forms 1099-A and 1099-C
2016 Instructions for Forms 1099-A and 1099-C Department of the Treasury Internal Revenue Service Acquisition or Abandonment of Secured Property and Cancellation of Debt Section references are to the Internal
More informationCountrywide Settlement FAQs
The Tennessee Attorney General s settlement with Countrywide offers several options for borrowers. If you do not see the answer to your question here, please contact Countrywide toll free at (800) 669
More informationForeclosure Prevention Guide
Foreclosure Prevention Guide 8 Ways to Stop Your Foreclosure in Today s Challenging Economy About Foreclosure Foreclosure begins when a Homeowner is unable to make their mortgage payments on the scheduled
More informationCONSUMER. Steps that Advocates Can Take to Help Older Homeowners Prevent Foreclosure
CONSUMER Information for Advocates Representing Older Adults N a t i o n a l C o n s u m e r L a w C e n t e r CONCERNS Steps that Advocates Can Take to Help Older Homeowners Prevent Foreclosure Foreclosure
More informationForeclosure Guidelines. Do s and Don ts for fending off foreclosure. Compliments of
Foreclosure Guidelines Do s and Don ts for fending off foreclosure. Compliments of 2 Foreclosure Guidelines CONTENTS: Introduction. 3 Foreclosure. What is it? What happens next?... 3 7 Possible Do s when
More informationHow To Know If You Can Get A Court Order To Stop Being Sued And Garnished
Five minute guide to being sued & wage garnishment First, it is important to distinguish between actually being sued and having creditors threaten to sue you. The difference is important. We have seen
More informationHow a District should respond to Bank and Mechanics Lien Foreclosures and Bankruptcy Filings
DISCLAIMER This presentation is intended to provide information about the law and is designed to help Board members of Colorado Special Districts gain a general understanding of relevant legal issues.
More informationCREDIT UNION PRIVATE EDUCATION LINE OF CREDIT AGREEMENT AND DISCLOSURE
CREDIT UNION PRIVATE EDUCATION LINE OF CREDIT AGREEMENT AND DISCLOSURE In this Private Education Line of Credit Agreement and Disclosure ( Agreement ) the terms I, me, my and mine mean each person who
More informationOLSEN, OLSEN & DAINES Chapter 7 Signing Form
Dear Client: OLSEN, OLSEN & DAINES Chapter 7 Signing Form After you have reviewed the bankruptcy petition we need you to CAREFULLY read the following, initial each paragraph and sign at the end. Be sure
More informationCONSUMER BANKRUPTCY. Q: What is bankruptcy? Q: How does someone know whether to file a Chapter 7 or 13? Q: How is an action filed in bankruptcy court?
CONSUMER BANKRUPTCY R. Michael Drose * Thomas M. Fryar * Ann U. Bell * Certified Bankruptcy Specialist Q: What is bankruptcy? A: Bankruptcy laws are federal laws and are the same in every state, although
More informationH O W T O A V O I D F O R E C L O S U R E F O R E C L O S U R E
U.S. Department of Housing and Urban Development H O W T O A V O I D F O R E C L O S U R E F O R E C L O S U R E This booklet explains how property owners can avoid losing their homes because of delinquent
More informationForeclosure Options. Know Your Rights! Your Trusted Real Estate Resource
Foreclosure Options Know Your Rights! Kirk Russell Managing Broker John L. Scott Firm Kirkrussell@johnlscott.com 206.390.5640 Your Trusted Real Estate Resource If you re listed with a license Realtor,
More informationChapter 9 6/16/2010. Two Elements of a Mortgage Loan
Some Effects of Mortgage Debt McGraw-Hill/Irwin Chapter 9 Real Estate Finance: The Laws and Contracts 9-1 Copyright 2010 by The McGraw-Hill Companies, Inc. All rights reserved. More households can own
More informationBANKRUPTCY FILING (CHAPTERS 7 AND 13) AND ITS EFFECT UPON THE FORECLOSURE PROCESS
BANKRUPTCY FILING (CHAPTERS 7 AND 13) AND ITS EFFECT UPON THE FORECLOSURE PROCESS by Steven C. Lindberg Freedman Anselmo Lindberg & Rappe LLC September, 2001 Since it has been widely predicted that some
More informationThe 8 Fastest Ways to STOP FORECLOSURE in 48 Hours or Less
The 8 Fastest Ways to STOP FORECLOSURE in 48 Hours or Less Copyright Notice All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means electronic or mechanical.
More informationCar Title Loans. What is a car title loan? How does a car title loan work?
Car Title Loans What is a car title loan? When you take out a car title loan, you are borrowing money and giving the lender the title to your car as collateral. This means that the lender can repossess
More informationHow to Avoid Foreclosure
How to Avoid Foreclosure M ost lenders do not want to foreclose. The process costs them money and they often sell the properties at less than the amount of the mortgage. Plus, lenders have some legal requirements
More informationGuide to Fair Mortgage Lending and Home Preservation
Guide to Fair Mortgage Lending and Home Preservation Fair Housing Legal Support Center & Clinic Guide to Fair Mortgage Lending and Home Preservation What does this guide cover? What is Fair Lending? What
More informationT E X A S Y O U N G L A W Y E R S A S S O C I A T I O N A N D T H E S T A T E B A R O F T E X A S FA CING
T E X A S Y O U N G L A W Y E R S A S S O C I A T I O N A N D T H E S T A T E B A R O F T E X A S FA CING F ORECLOSURE FACING F O RECLOSURE "Facing Foreclosure" has been prepared as a public service by
More informationFrequently Asked Questions. for. Chapter 7 Debtors
Frequently Asked Questions for Chapter 7 Debtors The information contained in this document is provided as a service to our clients, and does not constitute legal advice. We try to provide quality information,
More informationBankruptcy. published by AAA Fair Credit Foundation
Bankruptcy published by AAA Fair Credit Foundation Bankruptcy 1. What is Bankruptcy?..............................................................3 2. Chapters of Bankruptcy...........................................................4
More informationDo You HAFA? The HAFA Short Sale Program under Making Home Affordable 2
Table of Contents Do You HAFA? The HAFA Short Sale Program under Making Home Affordable 2 INTRODUCTION 2 Overview: Making Home Affordable ( MHA ) 2 HOME AFFORDABLE FORECLOSURE ALTERNATIVES PROGRAM ( HAFA
More informationMANDATORY BANKRUPTCY DISCLOSURE
2418 Main St. Vancouver, WA 98660 www.mcaleerlaw.net Telephone: (360) 334-6277 Facsimile: (360) 356-1920 MANDATORY BANKRUPTCY DISCLOSURE IMPORTANT INFORMATION ABOUT BANKRUPTCY ASSISTANCE SERVICES FROM
More informationAccording to the United States Bankruptcy Code there are 6 types of bankruptcies, called chapters :
FAQ Bankruptcy What does bankruptcy mean? Bankruptcy is a legal procedure that allows people to legally avoid their debts or reorganize their financial obligations through a payment plan. How many bankruptcy
More informationBusiness Or Home In Trouble? Four Not-So-Scary Alternatives Your Bankruptcy Lawyer Might Not Tell You
Dear Samantha, When you need legal help, who can you turn to for solutions? Consider a law firm that provides long-term game plans, as well as immediate assistance with the urgent matters. Tampa Law Advocates,
More informationInformation on Avoiding Foreclosure
Whitney Bank offers and provides financial products and services through its locations in Louisiana and Texas as "Whitney Bank" and as "Hancock Bank" in Mississippi, Alabama and Florida. Information on
More informationPoll: Domestic Violence in Foreclosure: The Foreclosure Process, Defenses and Alternatives for Survivors. Do you consider yourself: advocate; or
Domestic Violence in Foreclosure: The Foreclosure Process, Defenses and Alternatives for Survivors Karen Merrill Tjapkes Legal Aid of Western Michigan (616) 774-0672 ext. 120 ktjapkes@legalaidwestmich.net
More informationChapter 12 is a reorganization for family farmers and fishing families, which is similar to Chapter 13.
GENERAL INFORMATION ABOUT THE BANKRUPTCY SYSTEM INCLUDING THE RIGHTS AND DUTIES OF CHAPTER 13 DEBTORS (and other information necessary to assist a debtor in completion of the chapter 13 plan) WHAT IS BANKRUPTCY?
More informationForeclosure Overview
Foreclosure Overview Foreclosure is the legal action that your financial institution can use to take back your home when you miss your monthly mortgage payments. When this happens, you lose your house,
More informationSteps you can take to protect your home and your credit
Steps you can take to protect your home and your credit Oregon Division of Finance and Corporate Securities Our mission To encourage a wide range of financial services, products, and information for Oregonians,
More informationFTC Facts. For Consumers Federal Trade Commission. Having trouble paying your bills? Getting dunning. Knee Deep in Debt. Self-Help
FTC Facts For Consumers Federal Trade Commission For The Consumer December 2005 Knee Deep in Debt www.ftc.gov 1-877-ftc-help Having trouble paying your bills? Getting dunning notices from creditors? Are
More informationIndividual Bankruptcy A Client's Guide to the Language and Procedure
Individual Bankruptcy A Client's Guide to the Language and Procedure BAKKE NORMAN L A W O F F I C E S Welcome Thank you for considering Bakke Norman, S.C. to represent your interests. This booklet will
More informationLEARN ABOUT YOUR RIGHTS AND OPTIONS IN A FORECLOSURE
Helpful Agencies Here are some agencies which may lead you to lawyers who can help you: Lake County Bar Association 7 North County Street Waukegan, IL 60085 847-244-3140 www.lakebar.org Prairie State Legal
More informationThese sample documents are for your reference only and are not to be filled out or submitted as originals.
9000 Southside Blvd Jacksonville, FL 32256 FL9-400-01-21 Phone: 1 (866) 413-3757 Email: jaxhelocshortsales@bankofamerica.com The following is a sample of the Home Equity Line of Credit (HELOC) Welcome
More informationFTC FACTS for Consumers
ftc.gov FEDERAL TRADE COMMISSION FOR THE CONSUMER 1-877-FTC-HELP FTC FACTS for Consumers Mortgage Payments Sending You Reeling? Here s What to Do T he possibility of losing your home because you can t
More informationBankruptcy: Is It the Right Choice for You?
Bankruptcy: Is It the Right Choice for You? Find more easy-to-read legal information at www.ptla.org Introduction This is to help you to understand some basics about the bankruptcy laws and rules. This
More information