Mortgages, Bankruptcy, and Foreclosure in Tampa

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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 +

the Pros and Cons of Filing for Bankruptcy

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There are many pros and cons of filing for bankruptcy. One of the biggest cons to doing so is that when you file for either a Chapter 7 or a Chapter 13 bankruptcy, it’ll show up on your consumer credit report for anywhere up to the 10 years of your life. Another thing that you’ll want to take into consideration is that if you want to file for a federally backed mortgage loan, some creditors won’t approve you for credit while you’re still in bankruptcy. Read More +

What You Need to Know About the Foreclosure Process

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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 +

Should You File for Bankruptcy After the Holidays Are Over?

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It seems that the stress of the holidays is only amplified once they blow over and January rolls around and you see your credit card bills and other payments that need to be taken care of. Many individuals may assume that it’s best to file for bankruptcy right after the holidays are finished, but it is a bit more complex than one may think. Filing for bankruptcy after the holidays might be a huge error for some people, and could do more to hurt them Read More +

Coronavirus May Lead to Record Bankruptcy Levels?

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The Coronavirus is spreading throughout the entire world. Governments have locked down countries, airlines are not flying, and people are ravaging supermarkets to stock up on basic supplies. What does this virus mean for the world and the future? At this moment in time there is going to be stimulus checks going out to low income earners over the next few months. Even with this stimulus check, these small amounts most likely will just help with just buying some groceries. For most people this check Read More +

Seminole Heights Tampa Bankruptcy Attorney

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For those seeking a Bankruptcy Attorney in Seminole Heights in Tampa, our Tampa office is conveniently located. Since 1993, Jay Weller and Weller Legal Group PA, have been serving and representing many of the members of the Seminole Heights community in Bankruptcy matters, including Chapter 7 and Chapter 13 Bankruptcy. Our Tampa office is located at 4100 W Kennedy Boulevard. We are located on W Kennedy between the intersections of Dale Mabry and Lois Avenue, across from Jimbo’s BBQ. Chapter 7 Bankruptcy will generally stop Read More +

Qualifying for A Mortgage After Bankruptcy

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Buying a home one day is part of the American dream for a lot of people living in the United States. Many people who are thinking about going through the bankruptcy process are concerned if it will affect their chances of getting a home loan in the future. Going through a bankruptcy can be a stressful and time-consuming situation. We at The Weller Legal Group are here to help make the bankruptcy process easier and more efficient for you and your family. In this article Read More +

Bankruptcy Chapter 7 and 13

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Chapter 7 and 13 bankruptcy is the most commonly filed forms of bankruptcy in the United States. Chapter 7 bankruptcy is often called a straight bankruptcy or a straight liquidation. For most of our clients who file Chapter 7 bankruptcy, however, there is no liquidation of their assets. For most forms of bankruptcy, including Chapter 7 and Chapter 13, the debtor or debtors are able to employ what are called exemptions. Exemptions are assets that the debtor is able to exempt or exclude from the Read More +

Reaffirmation Agreements in Bankruptcy

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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 +

Chapter 13 Case Permits Cramdown of Mortgages

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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 +