TAMPA ACCIDENTS & PERSONAL INJURY
The attorneys at the Galewski Law Group understand the stress and emotional
confusion that may accompany an automobile accident or injury. If you were
injured in an accident or hurt due to some other persons negligence we can help.
We know that the insurance companies are often multi-billion dollar conglomerates
that are well skilled in matters relating to personal injury. They deal with this type
of problem everyday, and their priority is their bottom line. You need someone on
your side, you need a lawyer that is skilled in negotiation, litigation and personal
injury matters.
At GLG we work for you. We receive nothing unless we recover for you. Our goal
is to make this time as comfortable as possible for you and to help you receive
your maximum recovery for your injury. If you have been injured, call the Galewski
Law Group for a free no obligation consultation.
Significant Representations:
* Successfully represented individual hurt in slip-and-fall accident against
landlord of an uninsured business.
* Successfully represented minor hurt in accident due to third party contractor.
Tampa Attorney
GALEWSKI LAW GROUP, P.A.
|
Tampa Bankruptcy Attorney’s Update to the Bankruptcy Mortgage Reduction or Bankruptcy Mortgage Modification
Amendments:
Senate Rejects Mortgage Cramdown Provision
The Senate defeated by 51 to 45 votes an amendment to the Helping Families Save Their Homes Act that would have granted bankruptcy judges broad
authority to modify the mortgage terms for at-risk homeowners.
Assistant Senate Majority Leader Dick Durbin, D-Ill., chief sponsor of the ‘cramdown’ provision, said he was disappointed with the vote but would continue to
bring the issue to the floor “until the Senate decides to put the interests of homeowners above the interests of bankers.” Durbin noted that the number of
homeowners at risk of losing their homes now stands at over eight million, compared to nearly two million only two years ago.
“We’ve given the bankers who got us into this crisis every opportunity to responsibly address this crisis and they have failed,” Durbin said.
The White House said that notwithstanding the Senate vote on the Durbin amendment it looks forward to working with Congress to craft “appropriately tailored
legislation to provide a mechanism for homeowners who are out of other options to file for bankruptcy and implement a responsible plan to pay the debts that
they are able to pay.”
Meanwhile, Senate Minority Leader Mitch McConnell, R-Ky., said the provision would have lead to higher interest rates and even greater uncertainty in the
housing and credit markets. “It’s clear that we cannot fix the housing problem by implementing bad policies,” he said.
The American Bankers Association agreed, noting that Congress and the administration have taken several strong steps to help troubled borrowers and get
the economy back on track. “Giving bankruptcy judges broad cramdown authority would work against those efforts and effectively undermine the goal of
stabilizing the housing market,” the association said.
Analysis: Your Tampa Bankruptcy Lawyer notes that this means that for the time a Bankruptcy cannot be used to
reduce the principal amount due on a first mortgage, but since the House has passed the Bankruptcy Reform Bill,
it is possible that a Bankruptcy Judge may have the authority to cramdown or modify a mortgage in the near
future.