SHOULD I RESOLVE MY IRS DEBT WITH BANKRUPTCY OR AN OFFER IN COMPROMISE?
Emil Fleysher
September 22, 2021
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Many clients have been asking lately about how filing bankruptcy will affect their options with regard to obtaining a mortgage or refinance. The short answer is that “it depends.” What does it depend on? 3 things… (1) whether your case was filed as a Ch. 7 Bankruptcy or as a Ch. 13 Bankruptcy; (2) whether your case was “dismissed” or “discharged”; and (3) what type of mortgage loan you are
The Fresh Start Through Bankruptcy Act would change the bankruptcy code to make it easier to discharge student loans under certain conditions. Senators Richard Durbin (D-IL) and John Cornyn (R-TX) are the bill’s sponsors (R-TX). While it is not impossible to discharge student loan debt through bankruptcy under existing law, it can be extremely difficult. To do so, most borrowers must demonstrate “undue hardship,” which is a difficult legal standard
If you have recently been denied an auto refinance loan because (1) your credit score was too low; or (2) because your car is worth less than the current loan balance; or (3) because your car is too old, you may have another option… Ch. 13 is a type of bankruptcy that provides for a personal reorganization of your finances. In addition to discharging your unsecured debts (i.e, credit cards,
Nearly 1,500 South Florida borrowers may be eligible for reductions of their outstanding mortgage loan balances under a federal program announced in April. The program is intended to help “underwater” and severely delinquent borrowers whose loans are owned or guaranteed by mortgage companies Fannie Mae or Freddie Mac. The Federal Housing Finance Agency, which oversees Fannie and Freddie, said more than 30,000 borrowers coast-to-coast could qualify. Florida has 6,260 possibly eligible borrowers,
In this Third District Court of Appeals case, the bank tried to foreclose the homeowner’s mortgage at summary judgment, which entails that there be no questions of material fact and the bank be permitted to a foreclosure judgment as a matter of law – a stage before trial. The homeowner also filed for summary judgment, in dispute that paragraph 22 of the mortgage was not fulfilled by the bank, which involves
Defense lawyer Bruce Jacobs claimed that beyond matching columns and fields and using a checklist to confirm receipt of key documents, the servicer did not verify details in the files. Miami-Dade Circuit Judge Beatrice Butchko vetoed Ocwen Financial Corp.’s banking records and left out its testimony after discovering the loan servicer failed to verify its predecessor’s records in a foreclosure case. Butchko allowed an involuntary dismissal in HSBC Bank USA’s
The Fourth District Court of Appeal ruled against a Wellington homeowner association that barreled through a foreclosure sale despite the homeowner’s bankruptcy filing — and then failed to show up in court for the appeal. Scribner Village Homeowners Association Inc. won a final judgment of foreclosure against Marie Alexandre on a lien for unpaid assessments. The judgment set the property for sale, but Alexandre filed for Chapter 11 bankruptcy protection
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