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A few years after the peak of the recession, the rate of consumers and businesses filing for bankruptcy have dropped. Bankruptcy filings have dropped approximately 50 percent in Southwest Florida. Nearly 2,600 companies and residents in Charlotte, Manatee, and Sarasota counties solicited bankruptcy attorneys to defend them against creditors in the last year; this is

Officials intimately close to the case have stated that Bank of America has come to a record-breaking $17 Billion settlement. The purpose is to conclude the investigation in the role of selling the mortgage-backed securities; prior to the 2008 financial fiasco. Furthermore, an official, who requested to stay anonymous, stated that Bank of America will

Read everything you need to know about Do's and Don'ts of Bankruptcy. DO: Be honest about all of your assets. Even if you think there is a chance that you might lose it, there are probably other ways in which your attorney can prevent that. Or, you may need to come to terms with that

A Chapter 7 bankruptcy comes from the 7th chapter of the bankruptcy code. It is also known as the “liquidation” bankruptcy. This is because the Trustee has to liquidate, or sell, all non-exempt property in order to repay your creditors. The majority of individuals who file for Chapter 7 bankruptcy get the keep their property.

Read the explanation of Chapter 13 Bankruptcy. If your debts are getting out of your control but your income is still more than the median of the state and you have been living in the same state for the past two years, you can still file for bankruptcy. A Chapter 13 bankruptcy was put in

There is no shame in filing for bankruptcy. From a young age, people are persuaded by means of seductive language and/or highly skilled advertising techniques to purchase products and services deemed essential for their lives; even if those products or services are out of their financial reach. Many of our leaders have told us that

For Florida, it may be a turning point in the foreclosure rate and crisis. When compared year to year, the foreclosure rate in Florida is down nearly 37%. This makes it the lowest it has been since 2008. That equates to fewer than 4 million people who are not current on their mortgage. In Florida,

Many clients come into my office seeking assistance with modifying their investment property mortgages. The first question I usually get is "will the bank reduce my principal down to what the property is worth?"The answer is that offering meaningful principal forgiveness is very rare in conventional "HAMP" or "Proprietary" modifications. Unfortunately, this results in investment

The Federal Housing Administration (FHA) has instituted a new program. Its name is "Back-To-Work-Extenuating Circumstances" to assist potential borrowers who faced financial hardship during the recession. This program, which began August 15th, 2013 provides a second chance for mortgage applicants. For those who have experienced financial hardship such as unemployment. Or, a severe reduction in

According to the Clerk & Comptroller’s office, new foreclosure filings in Palm Beach County have dropped. This when compared with June 2012 and May 2013. Last June Palm Beach County had 1,249 new foreclosure filings. Meanwhile, this June saw only 1,001 new filings, a 19.9 percent decrease. New filings also decreased 6.2 percent in June