Mortgages, Bankruptcy, and Foreclosure in Tampa

If you are determined to prevent foreclosure on your home, you may decide that filing for bankruptcy is for you. Under both Chapter 7 and Chapter 13 bankruptcy, you are entitled to keep your primary home should you decide to file. Under Chapter 7, you may be required to liquidate your assets. With Chapter 13, you are required to repay a set amount to your bankruptcy trustee each month. If you decide Chapter 13 is the right way to file, you may also be able Read More +

Foreclosures 2022

The last few years have been rough for Americans and the entire world. Stocks have been very volatile, inflation is up, and political unrest seems to be dividing the country even more than ever. To make matters even worse Foreclosures have been increasing over the past few months. In this article, we will discuss the topic of foreclosures in America, with a special focus on the state of Florida. WHAT IS A FORECLOSURE A Foreclosure is a legal process by which a lender tries to Read More +

What You Need to Know About the Foreclosure Process

There are many financial responsibilities involved in owning a home. If you find yourself in a position where you can’t make the mortgage payments anymore, you face the risk of foreclosure. Fortunately, this is a process that you can halt anytime if you take the proper actions. Understanding How the Process Works You’ve received a letter from your bank stating that they’re foreclosing on your home. Unfortunately, you may not even understand the process and all it entails. Here are a few basic things that Read More +

Wesley Chapel Florida Bankruptcy Attorney

Need a Bankruptcy Attorney in Wesley Chapel, Florida? Since 1993, Weller Legal Group has been representing many in the Wesley Chapel community and the greater Tampa Bay region, in all matters relating to Bankruptcy, including Chapter 7, Chapter 13, and Chapter 11 Bankruptcy. Chapter 7 Bankruptcy is usually employed by Debtors seeking to Discharge or eliminate Unsecured Debts, such as Credit Cards, Medical Bills, Deficiencies on Automobile Loans, Signature Loans, and other forms of Debts not secured by collateral. There are certain requirements in order Read More +

Should I File for Bankruptcy? – Reasons Why Bankruptcy May Be Right for You

The decision to file for bankruptcy is a tough one no matter how you cut it. Going through the bankruptcy process takes time and money. Once a petition is filed, a person’s entire financial situation is a matter of public record and open to others. The process will take an emotional toll on the filer and his/her family and loved ones as well. So – again – the decision to file for bankruptcy is a tough one. One that should not be taken lightly and Read More +

Reaffirmation Agreements in Bankruptcy

The primary thrust of Chapter 7 Bankruptcy cases is to deal with consumer debts in such a manner as to ultimately “discharge” them – i.e. eliminate the obligation to pay certain types of debt and get a “financial fresh start”. While not all debts are subject to “discharge”, many of them – primarily “consumer debts” – are. There are some circumstances where a debtor opts to continue to service certain debts that may be otherwise dischargeable in Chapter 7 bankruptcy proceedings. Being involved in a Read More +

Ramifications of the Supreme Court’s Lawless Decision in Bank of America V Caulkett

MESSAGE FROM A BANKRUPTCY ATTORNEY IN CLEARWATER, FLORIDA PART TWO Jay Weller is a Bankruptcy Attorney in Clearwater, Florida. Jay Weller and Weller Legal Group have Law Offices in Clearwater, Port Richey, and Lakeland, Florida, and have filed over 40,000 Bankruptcies, since 1993. In order to understand this Article, please read Part One. What are the ramifications of the Supreme Court Decision in Bank of America v Caulkett? Why is its construction of the Bankruptcy Code important? Please note that the Supreme Court Decision in Read More +

Message From A Bankruptcy Attorney in Clearwater, Florida

THE SUPREME COURT DECISION IN BANK OF AMERICA V CAULKETT FURTHER ILLUSTRATES ITS LAWLESSNESS PART ONE Jay Weller is a Bankruptcy Attorney with Offices in Clearwater, Port Richey, and Lakeland, Florida. In Caulkett, the Debtor filed Chapter 7 Bankruptcy. The Debtor in Bankruptcy owned a Home with a First and Second Mortgage. The Fair Market Value of the Home was less than the Balance of the First Mortgage. The Second Mortgage, in terms of Bankruptcy, is Wholly Unsecured. Section 506(d) of the Bankruptcy Code provides, Read More +

the Rise of the “foreclosure Rescue” Companies

   With the many millions of homeowners having difficulty with the terms of their mortgages, there has been created a large number of groups that portend to assist such homeowners in modifying their mortgages. While there are legitimate and well meaning participants, there are also a number of unscrupulous foreclosure rescue companies that are essentially scams. Such bad actors often make unsubstantiated promises such as guarantees that one can retain their home or receive a lower mortgage payment. Weller Legal Group and Jay Weller have Read More +

Chapter 13 Case Permits Cramdown of Mortgages

Debtors In Bankruptcy in Tampa Area May Pay Only The Actual Value Of Their Homestead In Bankruptcy Provided Their Mortgage Terminates Before Five Years The 11th Circuit of the United States Court Of Appeals Ruled in American General Finance versus Richard W Paschen that the plain language of the Bankruptcy Code allows Debtors in Chapter 13 Bankruptcy to pay only the Secured Value or Fair Market Value of their Residential Property through the Chapter 13 Plan. The Unsecured portion of the Mortgage, which is the Read More +