Florida Loses Top Foreclosure Spot to Nevada

Florida has ranked number one in the nation for foreclosure activity during the last 6 months, but now that run has ended. New statistics for March 2013 report Nevada as now being number one in the country. One in every 317 homes in Florida is in some stage of foreclosure, while statistics show one in each 306 homes in Nevada is in foreclosure.

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Fannie Mae & Freddie Mac Announce “No-Doc” Loan Modification Program

Beginning in July of this year, borrowers with mortgages owned or backed by Fannie Mae (FNMA) and Freddie Mac will be able to reduce their monthly payments without providing documentation regarding their income under a program introduced late last month.

The program announced March 29, 2013 by the Federal Housing Finance Agency. It has been designed to curb losses to the government-owned Fannie & Freddie by letting borrowers that are behind 3 months or more bypass the notorious red tape and associated with typical loan modifications.

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Inherited IRA Bankruptcy Exemption Question from a Visitor…

Q: I have an IRA account that belonged to my son that I’m a beneficiary of. Unfortunately, my son passed away and I was advised by financial adviser to transfer this IRA to my IRA account that’s already in existence. Unfortunately, I may be forced to file Chapter 7 in New York in the near future. Will I be able to exempt the inherited IRA in addition to my IRA account?

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Bankruptcy Letter Question from a Visitor

Q: What does a “Notice of Chapter 7 Bankruptcy Case, Meeting of Creditors, & Deadlines” letter mean? The letter says I may be a creditor of the debtor and may need legal advice. Can someone explain this to me? Might be because the debtor owes me child support. Not sure what I need to do here.

A: This notice means that a Chapter 7 Bankruptcy has been filed and you are listed as a creditor.

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Bankruptcy Filing Fee Waiver Question from a Visitor…

Q: Will the bankruptcy court let me file Chapter 7 Bankruptcy without paying the $306 filing fee? Right now I have NO money. The credit card company attached my bank account (through a law firm) for about 8 months before I closed my account!! My only income is SSI. Will the bankruptcy court let me file forma pauperis or will I be required to pay the entire fee?

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Why was my Foreclosure Case Scheduled for Non-Jury Trial?!?!

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If you are among the thousands of South Florida borrowers in Foreclosure that have recently received an order from the court scheduling a non-jury trial, your time and options are limited. South Florida courts have enacted new rules and procedures to push through aging foreclosure cases, which will clear their case load but send myriad properties in to foreclosure sale and potentially flood the market with inventory.

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South Florida Bankruptcy Courts Implement Mortgage Modification Mediation Program

Mediation is usually a great way for a plaintiff and defendant to sit down with a neutral arbiter to hash out their differences and come to a resolution that is usually better than continued litigation. Mediation is successful in all types of disputes including personal injury cases, contract disputes and even divorces. However, in these cases, circuit court judges will readily punish a party who fails to attend mediation or who attends but fails to comply with the mediation order.

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Hospital Collections Question from a Visitor

Q: My wife and I received a summons concerning a hospital debt of $722.00 started by a collection agency.What can we do?

A: What you can do is contact the agency or agency’s attorney and see if they are willing to settle the debt for less than what you owe. Without knowing your full situation, this is probably your best option.

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Bankruptcy Question from a Visitor

Q: Will Marriage have bad effect on Bankruptcy? My girlfriend wants to file for bankruptcy, because of the debt for house and credit. I’m wondering if we should wait for her to be discharged? Then we marry?

A: You should wait to marry until after her bankruptcy meeting of creditors. If you marry before filing, your income will be included in determining whether she qualifies for bankruptcy.

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Collections Question from a Visitor…

Q: Debt was sold by Chase ($7,092.00) to Midland Funding. They are trying to collect and I have not paid since 2009, when i lost my job. My husband is on Social Security and I am still not working. Our house is in Foreclosure. What should i do?

A: You have some options to help resolve your issue. One option is to file Chapter 7 Bankruptcy.

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Lawyer Emil Fleysher | Featured Attorney Bankruptcy    SuperLawyers_Bankruptcy_Attorney    thepalmbeachpost    bba    nacba    Lawyer Emil Fleysher | Featured Attorney Foreclosure

Any information on this website is not intended to be communicated as legal advice. All information contained on this site is general and intended for information purposes only. For detailed legal advice regarding your loan modification, foreclosure, and/or bankruptcy needs, please schedule an appointment with the attorney. The Law Office of Emil Fleysher, P.A. is a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.