Tag Archives: foreclosure
What if I am underwater on my mortgage? Shouldn’t I just walk away?
While the values of many Florida homes have recovered since the real estate crash, several homeowners still find themselves in a situation where they owe more on the mortgage than the property is worth. As recently as a few years ago, many homeowners simply walked away and allowed the bank to foreclose; a practice… Read More »
Bankruptcy and protecting your home: Part I
Unfortunately, there are many people who, to no fault of their own, fall behind on home payments and ultimately face foreclosure. Whether you are having a hard time paying your mortgage due to a medical emergency, unexpected job loss or any other reason, it is important to remember that you may have many options… Read More »
The importance of having a qualified bankruptcy lawyer handling your foreclosure case.
Seven people were recently indicted in Texas for abusing federal bankruptcy protection laws as a way to stop foreclosure actions on their homes. They filed bankruptcy without any intention of attempting to repay their debts. The filings were only intended to suspend the foreclosure process. While the actions by these individuals were deliberate acts… Read More »
Is a loan modification right for me?
Loan modification is becoming an increasingly popular method of saving a home from foreclosure. This is especially true in Florida, where state law now requires lenders to rework loans with terms that are more manageable for the homeowners who are at risk of foreclosure. Nevertheless, lenders are in the business of making money, and… Read More »
Does the bank have the right to take my home?
If you are behind on your mortgage payments, it is possible for the bank to foreclose on your home. When you signed your mortgage agreement and promissory note, your house was put up as collateral in the event that you were unable to make your mortgage payments. That means the bank can force the… Read More »
When is the right time to contact a lawyer about foreclosure?
By the time the lender contacts you to inform you of its intent to foreclose on your home, there has almost certainly been communication between you and the bank regarding past due mortgage payments. Whether through late fees on your mortgage statements, demand letters or collection calls, lenders take specific steps to collect past… Read More »
Don’t be scared of losing everything in a Florida bankruptcy
Being in debt is scary, and you might be doing everything in your power to avoid dealing with the situation. However, you don’t have to let fear drive your decisions and control your financial life. Instead, you can educate yourself to take the mystery out of your situation and regain control. For instance, if… Read More »
Foreclosure can happen to anyone, even millionaires
Foreclosure is not about failure. Losing a home is not limited to the rich or the poor. From the world-renowned actor to the “man on the street,” anyone can experience severe financial problems caused by irresponsibility or circumstances beyond their control. Chad Johnson, once known as NFL star Chad Ochocinco, may have lived a… Read More »
The statewide economic impact of home foreclosures
While foreclosure of your home brings uncertainty, options exist as you face a lengthy and stressful process.Florida is one of a handful of states that requires foreclosures to take place before a judge in a courtroom. Defendants can raise legal defenses to the action without the cost of filing a lawsuit. Referred to as… Read More »
Foreclosure numbers better, but still fairly high
It’s tempting to think that the foreclosure crisis has passed. It’s been long enough, for example, that a recent Oscar-winning film, “The Big Short,” has been made about the housing bubble’s burst in 2008, leading to millions of foreclosures and causing a major hit to the economy. While that movie depicts historical events, the… Read More »