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Foreclosure filings are expected to begin increasing in Florida again. So, the state court system has a multi-year plan to deal with the hundreds of thousands of expected new filings. The backlog of cases is expected to grow by another 380,000 cases by 2016. This is when foreclosures should return to their normal rate of

In May 2011, a U.S. Representative from Tennessee introduced a bill called the Private Student Loan Bankruptcy Fairness Act of 2011. The bill proposes to make private student loans generally dischargeable in bankruptcy (like they were before the revisions in 2005) as a way of addressing the mounting student loan crisis. The bill proposes to

New York’s attorney general is accusing some of the nation’s largest banks of deceit and fraud. That is because they were using an electronic mortgage registry that he claims puts homeowners at a disadvantage in foreclosures. He claims the banks submitted court documents containing false and misleading information. It appeared to provide the authority for

With student loan debt now topping U.S. credit card debt and few or no options available for distressed borrowers, America faces the very real possibility of another major economic threat. The threat that is on a par with the devastating home mortgage crisis. As bankruptcy attorneys, we have seen an increase in the last three-four

More than 40 states have signed on to a draft settlement with the nation’s largest banks. It aims at helping homeowners struggling with loans bigger than the value of their homes. However, several states including California, New York, Nevada, Florida, and Delaware remain undecided. Attorneys general from these states have issues with the deal but

The Obama administration is expanding eligibility for its Home Affordable Modification Program (HAMP). They are expanding it to borrowers with higher debt loads and tripling the incentives it pays banks that reduce the principal on loans. It will also offer incentives to Fannie Mae and Freddie Mac to reduce the principal on loans; which it

A study has found that blacks are twice as likely as whites to wind up in Chapter 13

A Florida state appeals court has asked the Florida Supreme Court to clarify what is required to void a foreclosure

Mortgage principal reduction is an idea that could be helpful to or cause more default among borrowers. Some experts feel that widespread mortgage principal reduction may drive defaults much higher. Also, taking this step may tighten lending by forcing banks to offer “price protection” to borrowers. Moreover, the data shows there is essentially no difference

A draft settlement between the nation’s major banks and U.S. Attorneys General over deceptive foreclosure practices has been sent to state officials for