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Fleysher Law Blog

How Long Before You Can Get a Mortgage Loan Again?

As a Bankruptcy and Foreclosure Attorney, I am frequently asked how long after Bankruptcy, Foreclosure, or Short Sale a mortgage loan can be obtained. While everyone’s situation is different, the following table is a good overview. It elaborates on the relationship between mortgage loan, and bankruptcy, foreclosure, or short sale. Chapter 7 Bankruptcy or Chapter 11 Bankruptcy 4 Years Chapter 13 Bankruptcy 2 Years from discharge4 Years from dismissal date

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Chapter 7 Lien

Chapter 7 Lien Stripping Approved by Broward, Dade, and (now) Palm Beach County Judges

Attorney Emil Fleysher recently obtained one of the first Chapter 7 Lien Strip Orders in Palm Beach County. Chapter 7 Lien Strip Orders: What Happened? Following the watershed case of in re: McNeal, in which the 11th Circuit Court of Appeals ruled that fully unsecured 2nd mortgages, Home Equity Loan Liens, and other junior mortgages may be discharged. And, maybe stripped off in Chapter 7 Bankruptcy; many debtors’ attorneys were

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House is Underwater

Options for Florida Homeowners with Homes that are “Underwater”

What are your Options if your House is Underwater? More and more Floridians are coming to the unsettling realization that their homes are now worth less than they owe on their mortgage(s). This unfortunate scenario is commonly referred to as your house being “underwater.” One of the most common questions that clients ask is “What are my options if my house is underwater?” Generally, the answer is that you have

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Is the U.S. Headed Toward Bankruptcy?

Presidents have been warning for decades of the dangers of this country’s debt and deficits. But the big question is why this time is different? Is this the year we finally start to get our nation’s finances in order? Or, is the U.S. headed towards bankruptcy? One argument is that with the current President and Congress, it does not seem likely. Either way, it is going to be a very

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Consumers Seeking Bankruptcy Advice on Avvo.com Reaches All-Time High

Avvo, Inc.’s latest Avvo Legal Advisory shows that bankruptcy is one of the top legal topics for many in the United States. Questions in Avvo’s Q&A forum regarding bankruptcy reached an all-time high. Despite research from the National Bankruptcy Research Center stating that U.S. personal bankruptcy filings decreased by 13% in the first half of this year, consumers asked nearly 10,000 bankruptcy-related questions on Avvo.com. And that is during the

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How Many Times Can You File Chapter 7 Bankruptcy?

Chapter 7 exists to help you get out of debt quickly and easily. It is easy to file for Chapter 7 bankruptcy and you can do it hundreds of times. However, the issue is whether you can get a discharge of your debts. The U.S. Bankruptcy Code places limits on how often you can get a discharge. Under the Code, you must wait 8 years from the time you first

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The Unaffordable Bankruptcy

Believe it or not, there is such thing as an unaffordable bankruptcy. For many people, Bankruptcy can be a path to salvation. However, sometimes there are situations or people with particular financial goals in mind for whom bankruptcy may not work. For example, a situation may occur where the debtor has an asset that he wishes to keep but which would be sold in a chapter 7 case. Because he

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Does Florida Have a Culture of Delinquency?

A new report from real estate services provider Zillow found that while Florida is not the worst state for negative equity. In fact, Florida’s borrowers have disproportionately high delinquency rates on their loans. In Miami-Ft. Lauderdale, 43.7% of borrowers are underwater, while 24.9% of them have missed at least three months of payments. In Tampa, where 46.6% are underwater, 17.6% haven’t made payments for three months. In Orlando, it’s 51.9%

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Wage Exemption

Florida’s Wage Garnishment Exemption Applies in Bankruptcy

Florida’s Wage Exemption Statute provides protection for those who meet the definition of “head of a family”. And, who are facing a judicial garnishment or filing for bankruptcy. A head of a family who pays for more than 50% of a dependent’s living expenses cannot go through garnishment. This is if their net income after deductions is less than $750 per week. If the head of a family earns more

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Home Equity account

WARNING! You are approved for full principal forgiveness of your Home Equity Account.

A client recently came into my office with a letter she received from Bank of America. It stated that her Home Equity account had been approved for participation in a principal forgiveness program. It was offered as a result of the Department of Justice and State Attorneys General global settlement. The letter about her Home Equity account goes on to explain that the entire balance and any accumulated fees, interest,

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