July 2012 | Emil Fleysher, P.A.

South Florida Foreclosure Rate Ranked 13th in Nation

Emil Fleysher July 31, 2012

South Florida’s foreclosure rate ranks 13th out of 212 metropolitan areas so far this year. One in 53 properties in Palm Beach, Broward, and Miami-Dade counties is in some stage of foreclosure. So far this year, the foreclosure rate for South Florida is 46,559 homes in foreclosure; up 24 percent from a year ago. The number of new cases increased 34 percent from last year. However, the South Florida housing

Florida Program to Help People in Foreclosure Lacks Measurable Goals

Emil Fleysher July 31, 2012

A federal report critical of a foreclosure prevention plan specifically mentions Florida. It says that Florida is failing to set measurable goals for its Hardest Hit program. In fact, Florida was one of 18 states and the District of Columbia that received money from the Hardest Hit Fund; which was first announced in Feb. 2010. The purpose of Florida’s Hardest Hit program is to create breathing room for homeowners looking

Seniors are Facing Foreclosure at Increasing Rates

Emil Fleysher July 31, 2012

For the first time, the nation received evidence through an AARP report of how the real estate crash is affecting its senior citizens. While older homeowners still have lower foreclosure and mortgage delinquency rates than people under the age of 50, they are increasing. AARP’s findings include: About 5.7 percent of homeowners age 65 and older were in foreclosure in 2011, up from 0.58 percent in 2007. More than 5

Florida Housing Market Continues to Face Uncertainty

Emil Fleysher July 31, 2012

The story of the Florida housing market continues to be one of the foreclosures and distressed sales. The expectations are that over one million distressed homes will hit the market over the next year or so. This backlog of distressed homes leads to the expectation that this increase in inventory would cause prices to plunge. However, despite some continuing foreclosures, bank-owned homes have not hit the Florida housing market in

Shooters Will Remain Open Despite Chapter 7 Bankruptcy

Emil Fleysher July 31, 2012

Back in March of 2012, two companies associated with waterfront restaurant Shooters filed Chapter 11 bankruptcy. Roscoe, LLC (DBA Shooters) and BIMA, LLC filed for bankruptcy protection following a $10.5 million foreclosure lawsuit filed by FirstBank against BIMA, LLC; the company that owns the property that both Shooters and Bootleggers sit on. About a month later, Shooters owner John Wile filed for personal Chapter 11 bankruptcy protection. Chapter 11 bankruptcy

Why didn’t my attorney strip my 2nd mortgage in my Chapter 7 Bankruptcy filed last year?

Emil Fleysher July 23, 2012

A woman who had read my article in the Palm Beach Post regarding stripping 2nd mortgage liens in Chapter 7 Bankruptcy recently asked me this question. She states that she saw in my article that “a new case allows the 2nd mortgage to be stripped off with a Chapter 7 Bankruptcy”. And, that her bankruptcy attorney filed her Ch. 7 Bankruptcy last year without stripping off the 2nd mortgage. She

A New Approach to Calculation of Household Size in Bankruptcy

Emil Fleysher July 20, 2012

On July 11th, 2012, the United States Court of Appeals for the Fourth Circuit affirmed a decision by the United States Bankruptcy Court for the Eastern District of North Carolina that developed a new method of calculating household size. Before this case, there were three methods that courts looked at to determine household size. The “heads on beds” approach simply counts the number of people who have lived in the

Emil Fleysher Quoted in Recent Report on CoreLogic CoreScore Model

Emil Fleysher July 13, 2012

A recent article written by CreditCards.com reporter Kelly Dilworth quotes several resources; including Emil Fleysher in discussing the potential effects and implications of the new CoreScore model of credit reporting from Core Logic. Emil Fleysher has previously written 2 articles on the topic that you can find on FleysherLaw.com Blog. To read the full article please visit the following link… FICO introduces new, less traditional credit score If you have

What is a “Final Judgment” and why should I care?

Emil Fleysher July 11, 2012

A final judgment is the Judge’s final decision in a case as recorded in the files stored in the Office of the Clerk of Courts. The name for the party that sued you and obtained the judgment is “judgment creditor.” The judgment creditor can obtain the right to proceed against your property through a writ of execution, garnishment, or other judicial processes. A judgment becomes a lien when a certified

South Florida Bankruptcy Filings Continue to Fall

Emil Fleysher July 3, 2012

South Florida bankruptcy filings were down substantially in the 2nd quarter, compared to last year; according to data released by the U.S. Bankruptcy Court for the Southern District of Florida. Personal bankruptcy filings (Chapter 7 & Chapter 13) in Palm Beach, Broward, and Miami-Dade counties totaled 7,194. This is from April through June of 2012; down 23% from 2011. Bankruptcy filings can be linked in large part to the rate

Fleysher Law Blog

South Florida Foreclosure Rate Ranked 13th in Nation

Florida Program to Help People in Foreclosure Lacks Measurable Goals

Seniors are Facing Foreclosure at Increasing Rates

Florida Housing Market Continues to Face Uncertainty

Shooters Will Remain Open Despite Chapter 7 Bankruptcy

Why didn’t my attorney strip my 2nd mortgage in my Chapter 7 Bankruptcy filed last year?

A New Approach to Calculation of Household Size in Bankruptcy

Emil Fleysher Quoted in Recent Report on CoreLogic CoreScore Model

What is a “Final Judgment” and why should I care?

South Florida Bankruptcy Filings Continue to Fall

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