April 2013 | Emil Fleysher, P.A.

Florida Loses Top Foreclosure Spot to Nevada

Emil Fleysher April 18, 2013

Florida has ranked number one in the nation for foreclosure activity during the last 6 months. But, now the 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. Meanwhile, statistics show one in every 306 homes in Nevada is in foreclosure. According to RealtyTrac, Florida had 12,100 new

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

Emil Fleysher April 14, 2013

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. They can do this without providing documentation regarding their income under a program introduced late last month. Announcement and the Purpose The Federal Housing Finance Agency announced the program on March 29, 2013. Its purpose is to curb losses to the government-owned Fannie

Inherited IRA Bankruptcy Exemption Question from a Visitor…

Emil Fleysher April 13, 2013

Q: I have an IRA account that belonged to my son that I’m a beneficiary of. Unfortunately, my son passed away. And, a financial adviser advised me 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?

Bankruptcy Letter Question from a Visitor

Emil Fleysher April 11, 2013

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 (letter) means that a Chapter 7 Bankruptcy has been filed and

Bankruptcy Filing Fee Waiver Question from a Visitor…

Emil Fleysher April 11, 2013

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 have to pay the entire fee? A: If Social

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

Emil Fleysher April 10, 2013

A large number of people are getting a non-jury trial order from the court. 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 definite. South Florida courts have enacted new rules and procedures to push through aging foreclosure cases, which will clear their caseload. But, they send myriad properties

South Florida Bankruptcy Courts Implement Mortgage Modification Mediation Program

Emil Fleysher April 10, 2013

A mediation program is usually a great way for a plaintiff and defendant to sit down with a neutral arbiter to hash out their differences. And, to 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

Hospital Collections Question from a Visitor

Emil Fleysher April 9, 2013

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. You can see if they are willing to settle the hospital debt for less than what you owe. Without knowing your full situation, this is probably your best option. However, if you have other debts,

Bankruptcy & Marriage Question from a Visitor

Emil Fleysher April 7, 2013

Q: Will Marriage have a bad effect on Bankruptcy? My girlfriend wants to file for bankruptcy, because of the debt for house and credit. I wonder if we should wait for her discharge? Then we marry? A: You should wait for marriage until after her bankruptcy meeting of creditors. If you marry before filing, the inclusion of your income in determining whether she qualifies for bankruptcy will occur. This could

Collections Question from a Visitor…

Emil Fleysher April 5, 2013

What is the connection between collection and foreclosure? Q: Chase ($7,092.00) to Midland Funding sold debt. 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 of collection. In fact, one option

Fleysher Law Blog