BANKRUPTCY PREDICTIONS FOR 2017: TIPPING POINT FOR CONSUMER CREDIT COMING SOON?

BANKRUPTCY PREDICTIONS FOR 2017: TIPPING POINT FOR CONSUMER CREDIT COMING SOON? Each year our office looks at the coming trends for consumer bankruptcy to figure out if bankruptcy filings are on the rise of will continue to fall. Recently, our office and some of the latest National figures show a modest increase in filings for […]

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THE END OF HAMP MODIFICATION PROGRAM AND CHAPTER 13 MODIFICATION OF MORTGAGES IN CHAPTER 13

THE END OF HAMP MODIFICATION PROGRAM AND CHAPTER 13 MODIFICATION OF MORTGAGES IN CHAPTER 13 As most people are aware, the federal HAMP modification program ended on December 31, 2016. That means that if you did not get your application in to your servicer prior to that date, there is no opportunity to modify your […]

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SUBPRIME AUTO LENDING BUBBLE ABOUT TO POP?

SUBPRIME AUTO LENDING BUBBLE ABOUT TO POP?             A recent New York Times article looked at the rising percentage of auto loan delinquencies in the “sub-prime” auto lending marketplace. The article can be found here: http://www.nytimes.com/2016/11/30/business/dealbook/as-auto-lending-rises-so-do-delinquencies.html?_r=0   This article combined with a recent USA Today story regarding subprime delinquencies in auto loans paints a grim […]

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THE RETURN OF THE MEDICAL BANKRUPTCY AFTER TRUMP ELECTION?

THE RETURN OF THE MEDICAL BANKRUPTCY AFTER TRUMP ELECTION?             The internet is awash in euphoria and dire predictions over the election of Donald Trump as President. One thing that is sure to change with the election is the number of people covered by health insurance and subsidies to allow health insurance coverage is set […]

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MORTGAGE RESCUE FRAUD: WHY CHOOSE SCAMS OVER CHAPTER 13 BANKRUPTCY?

MORTGAGE RESCUE FRAUD: WHY CHOOSE SCAMS OVER CHAPTER 13 BANKRUPTCY?             More sad news for distressed homeowners recently. Mortgage foreclosure scams are still prevalent and still costing people their homes. Two recent articles point out the dangers associated with these scams: http://www.presstelegram.com/general-news/20160825/long-beach-pastor-admits-to-running-3-million-mortgage-scam http://www.housingwire.com/articles/37821-florida-attorney-general-fights-alleged-foreclosure-fraud-firm             Unfortunately, the story is all too familiar: A family is in […]

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RISING CREDIT SCORES BRING MORE DEBT

A recent Wall Street Journal article looked at the falling percentage of consumers with “sub-prime” credit scores. The article can be found here. This is certainly good news for anyone wanting to buy a home, car or take out a loan. However, the good news seems to mask some stubborn trends in consumer lending. First, […]

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NEW PHONE SPOOFING SCAMS TARGETING BANKRUPT INDIVIDUALS

  I recently had a couple in my office who alerted me to an ongoing scam against people who have filed for Chapter 13 bankruptcy. This couple had filed for Chapter 13 protection pro se (without an attorney) and immediately began to receive calls from the “clerk of the court” – at least that was […]

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MORTGAGE DELINQUENCIES AFTER CHAPTER 11 BANKRUPTCY

            As we approach the middle of 2016, it is interesting to look back and see the effects of the bulge of filings from 2009-2011. During that time, the filings in Jacksonville routinely approached 12,000 cases per year.             With the end of the boom now approaching five (5) years, it is particularly interesting to […]

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BEHIND ON YOUR UNDERWATER CAR?

Two recent articles highlight both the good and bad of the recent auto sales explosion. http://www.bloomberg.com/news/articles/2016-03-14/subprime-auto-bond-delinquencies-highest-in-20-years-says-fitch   http://mishtalk.com/2016/03/13/60-day-delinquency-rate-in-packaged-subprime-auto-loans-highest-in-nearly-two-decades/         Both articles speak to the easy credit access that has allowed new car sales to top 17 million vehicles annually. However, that easy access to credit has come at a price. As a […]

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Good News! Fannie Mae Lowers Waiting Period After Bankruptcy

Good news for people who filed bankruptcy and are back on their feet and hoping to obtain a mortgage. Fannie Mae recently reduced the mandatory waiting period after a bankruptcy from 4 years to 2 years. The FHA mandatory waiting period remains the same at 1 year. To read more, click on the link below: […]

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