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A man behind an investment scheme meant to defraud investors was charged with two counts of bankruptcy fraud. William Marshall Wolfe, 44, of Ridgeland appeared in federal court and indicted on charges related to bankruptcy fraud following a federal investigation involving multiple government agencies. Documents related to the court indictment claim Wolfe devised a scheme […]
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File Chapter 7 Bankruptcy To Protect Property The first reason why somebody would want to file Chapter 7 bankruptcy is if they have something they want to protect. What I’m talking about here is something of value that is subject to a taking if a bankruptcy case is not file. This could be wages. If someone is+ Read MoreThe post There Are Three Main Reasons Why Somebody Would Want To File Chapter 7 Bankruptcy appeared first on David M. Siegel.
In many cases, you can stop a mortgage foreclosure by filing for a mortgage modification under the HAMP program. The application for a mortgage modification can be filed directly with the mortgage lender or was part of a chapter 13 bankruptcy you may file. If you are on the eve of a foreclosure sale, I would probably be best to file a chapter 13 bankruptcy in order to insure the stopping of your foreclosure sale.
If you file the modification as part of a chapter 13 bankruptcy case, the modification request will proceed under the Miami Bankruptcy Court's new "LMM" program (Loss Mitigation Mediation) which has been very successful in helping homeowners achieve a mortgage modification.
Suspension of Referral or Foreclosure or Foreclosure Sale
Immediately upon a mortgage borrower's application for consideration for a HAMP mortgage modification, a may not refer a mortgage loan for foreclosure or conduct a scheduled foreclosure sale unless
- the borrower has been evaluated for HAMP and determined to be ineligible for the program
- borrower accepts a Trial Payment Plan and fails to make current trial period payments unless
- the mortgage servicer is evaluating the borrower for a HAMP Tier 2 application until the evaluation for a HAMP Tier 2 is complete and the borrower is determind to be ineligible for HAMP Tier 2
- the borrower or co-borrower states he is not interested in pursuing a HAMP modification
- the remaining non-borrower was unable to assume the note and re-apply for HAMP during the period provided under the rule
- the Loss Mitigation Application is incomplete and i. more than 120 days has passed or ii. more than 30 days has passed since the servicer sent the borrower an "Incomplete Information Notice"
- If the borrower submits an incomplete Loss Mitigation Application the mortgage servicer if the application still remains incomplete after the later of
- a delinquency for more than four months
- 30 days has has passed since the servicer sent the borrower an "Incomplete Information Notice" and the Loss Mitigation Application still is incomplete
Suspension of Foreclosure after Referral for Mortgage Foreclosure
If the foreclosure has already been filed, the mortgage servicer must suspend the foreclosure process upon the borrower's accept of a Trial Payment Plan upon verified income and for the duration of the trial period
Suspension after Foreclosure Sale Already Set
If a borrower submits a HAMP application at least 7 business days prior to a scheduled foreclosure sale, the mortgage servicer must immediately suspend the foreclosure sale for a period of time as necessary to evaluate the borrower's HAMP application if the new application under any of the following circumstances:
- If the borrower had made at least one payment under a HAMP Tier 1 Temporary Payment plan
- unless there has been a change in circumstances
- If the borrower had defaulted under a HAMP Permanent Modification and either i. 12 months has passed since the effective date of the modification or ii. the borrower has experienced a change in circumstances
- the borrower was previously determined to be ineligible for a HAMP Tier 1 modification
(305) 891-4055 - Jordan E. Bublick is a Miami Bankruptcy Lawyer with over 25 years of experience in filing Chapter 13 and Chapter 7 Bankrkuptcy Cases.
Bringing you the most up-to-date news, tips and blogs throughout the web. Here’s your Bankruptcy Update for April 10th, 2014 Malaysia Airlines could opt for bankruptcy if multiple, costly lawsuits are filed in response to missing flight James River Coal pushed into bankruptcy Bankruptcy over, ‘Real Housewives’ stars Teresa, Joe Giudice still owe $13.4 million
In order to file for Chapter 7 bankruptcy, you must provide a copy of your most recent Federal tax return. If you are going to be receiving a sizable refund, then you want to time your bankruptcy filing so that you do not have the refund forthcoming after your filing date. This way, you are+ Read MoreThe post Tax Return & The Importance Of Timely Filing – Bankruptcy appeared first on David M. Siegel.
(305) 891-4055 - Over 25 Years of Experience - Over 8,000 Cases Filed - 1221 Brickell Ave., 9th Fl., Miami, Florida - Jordan E. Bublick - www.bublicklaw.com
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You will normally receive your Chapter 7Discharge Order about 3 to 4 months after the creditor's meeting. This Order renders unenforceable all debts other than those specifically excepted by law. It also enjoins creditors from attempt to collect on debts that are discharged.
Exceptions from Discharge
In general, items not dischargeable in bankruptcy include the following:
- Student loans and educational benefit overpayments if they are made, insured, or guaranteed by the government or funded under a program funded in whole or in part by the government or a nonprofit institution unless you can show an "undue hardship". The same rule applies to obligations to repay funds received as an educational benefit, scholarship, or stipend.
- Certain taxes and debts incurred to pay certain taxesCreditors not listed in the bankruptcy case or not otherwise notified about the case
- Debts for fraud or defalcation while acting in a fiduciary capacity, embezzlement, or larceny,
- Debts to spouse, former spouse, or child for alimony, maintenance, or support and obligations of a similar nature
- Damages for willful and malicious injury to another or another's property.
- Certain governmental fines and penalties
- Debts arising from drunk driving
- Debts for money, property, services, or for credit obtained by false pretenses, false representation, or actual fraud (This includes credit card charges, cash advance, etc. made without the intent to repay).
- Debts for money, property, services, or for credit obtained by use of a written statement that was materially false concerning your financial condition if the creditor reasonably relied on it that was used with the intent to deceive
(305) 891-4055 - Jordan E. Bublick is a Miami Bankruptcy Lawyer with over 25 years of experience in filing Chapter 13 and Chapter 7 Bankrkuptcy Cases and Mortgage Modifications
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