Month: October 2011

Shortcomings of the Residential Mortgage Foreclosure Mediation (RMFM) Program recognized by Panel

Written By: Emil Fleysher | October 30, 2011 | Foreclosure
Panel Urges Abolition of Mandatory Mediations. The group has recommended that the mandatory foreclosure mediation program should be abolished and replaced with a plan that allows courts to opt into the
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Beware of Cross-Collateralization when dealing with Credit Unions

Written By: Emil Fleysher | October 24, 2011 | Bankruptcy
A cross-collateralization clause makes the collateral that secures the car loan (the car) serve as collateral for all loans the credit union has made or will make to you. This transforms any unsecured debts that you have with that credit union (i.e., a credit card) into secured debt. It is often the case that the debtor has no idea that this cross-collateralization exists until after default or during
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Foreclosure Activity on the Rise Again in South Florida

Written By: Emil Fleysher | October 14, 2011 | Foreclosure
Foreclosures are picking up again in South Florida after the year long slow down resulting from the Robo-Signer
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