Foreclosure Defense Attorney 813-222-8210
Lawyer to Stop Foreclosure and Garnishment
At the Galewski Law Group, P.A. we have extensive experience in helping people stop foreclosure, file for bankruptcy and otherwise workout and restructure their debt. If you are facing foreclosure, do not take a risk with your investment, call and ask how we can stop the foreclosure or help you file bankruptcy. We are a debt relief agency, our foreclosure attorneys and bankruptcy lawyers help people file for relief under the Bankruptcy Code. PRESS RELEASE 2012: The Federal Housing Finance Agency has steadfast refused to allow principal reductions as part of a modification of their Fannie Mae and Freddie Mac loans but they will allow a short sale. Due to certain law suits brought by the Attorney Generals of most states, banks may allow you to reduce principal in a modification under certain circumstances.
This means is you have an FHA loan you they may forgive principal if you sell the house but not if you keep the home with the same loan. The FHA has not come out with an official position on a short refinance (refinancing at a lower principal). It appears that the FHA, under new leadership, may change this position in the next few months. Please stay with us as we continue to push for the best modifications and principal reductions that can be obtained. PRESS RELEASE OCT 2012 The Senate Finance Committee has approved a bill that could extend the Mortgage Forgiveness Debt Relief Act through 2013. This is the act that allows for a short sale of modification without the IRS considering the forgiven debt as taxable income. Without this extension the amount of debt forgiven is regular taxable income and could further bury individuals and families in debt for years to come. The bill, which now moves to the full Senate for possible action this month, also would extend tax write-offs for mortgage insurance premiums for 2012 and through 2013 and continue some energy-efficiency tax credits for remodeling and home construction.
QUESTION OF THE WEEK:
MARSHAL WATSON WAS THE FIRM PROSECUTING MY FORECLOSURE, IS MY CASE OVER NOW?
No. Marshal Watson, the foreclosure attorney has agreed to a 91 day suspension by the Florida Bar Association over robo-signing. This does not mean that each case he had will be dismissed. It is far more likely that this will lead to eager associates and other firms taking over the foreclosure cases and moving them forward faster in an attempt to impress the bank clients and to try to steal the business from Marshal Watson the law firm. Further, the firm Marshal Watson, P.A. has not been disbanded and most of the cases are filed by other attorneys. It is likely that the cases will either continue or be expedited. To discuss your case and to assure that you are properly protected please contact your foreclosure defense attorney for a free consultation.
WHAT IS A SHORT SALE AND DO I NEED AN ATTORNEY TO NEGOTIATE MY SHORT SALE?
A short sale is a negotiation between the bank and the property owner to not only allow the property to sell for a reduced price, but also to forgive the deficiency or shortage. Only an attorney or mortgage professional should negotiate a short sale on a professional basis. The Florida Department of Professional Regulation does not allow a Real Estate Agent or Broker to charge for short sale services. An attorney is recommended to assure that you completely understand your potential liability and so you are not pressured into a sale without proper debt forgiveness. I am surrendering a home to a mortgage lender to help consolidate my debt, may I still collect rent on the home, and does this change after filing a chapter 7? If you have rental income from property but are planning on surrendering the property to the mortgage lender, either in bankruptcy or foreclosure, the rental income may belong to the mortgage lender. Please refer to your mortgage and note for details, but often rental income is assigned as part of the mortgage. If you were to file a chapter 7 or 13 bankruptcy, you may still not be able to keep the rental income. In a chapter 7 bankruptcy, the bankruptcy estate would own the rental property and they would be the proper party to collect the rent. Even if the rent is paid to you, you may be required to turn over the rent to the bankruptcy trustee. If you file a chapter 13 or reorganization, the rental income may be used in calculating your income for purpose of determining your discretionary income and ultimately your chapter 13 plan payments.
I AM UP-SIDE-DOWN OR HAVE NEGATIVE EQUITY IN MY HOME, CAN BANKRUPTCY HELP ME?
If you owe more than your house is worth, you typically have three options: pay for the house the home value increases, return the home to the bank or sell the home. If you sell the home, a Tampa bankruptcy attorney may help you to negotiate a short sale with the bank, so you do not need to bring money to sell. If you decide to give the house to the bank, this may be done, with or with out a bankruptcy. If you do not file a bankruptcy the Court may grant the bank a deficiency judgment against you for the difference between the sale price and the amount owed. The bank may attempt to collect the difference from your personally or may file a 1098/1099 with the IRS, and treat the deficiency amount as earned income. You would then be personally liable for the difference as if it were earned income from that tax year. A bankruptcy or reorganization may save you from the deficiency judgment and the 1099 taxable gain. Call your Tampa bankruptcy lawyer for more information. Bank of America recently issued a news release that encouraged a short sale during of after bankruptcy. There are a number of reasons that a combination bankruptcy and short sale could benefit a distressed property owner including tax benefits, increased capacity to recover your credit, quicker turnaround to a new home or simply just removing stress over the property. Click here to learn more about personal bankruptcy as an option to loss of assets in garnishment or foreclosure Did you know: Accident and Injury Attorney Tampa Accident Lawyers at the Galewski Law Group have been involved in over 1,000 cases this last decade, but we take a personal approach to each case. When we work to help someone or a family rebuild after an accident, we put our heart into making sure that your interest, your family, and your future are protected. We start with a discussion of your immediate needs, short and long term goals, which may include: accident recreation, investigation, temporary loans or income replacement, immediate medical attention, long term care, or even death benefits. We move from there to a series of avenues to reach your goals, including: assisting with all avenues of insurance claims, reviewing all potential claims against third parties such as workers compensation, social security and disability benefits, claims for negligence, wrongful death, car, home or commercial liability insurance and finally litigation. Recovery from a car or motorcycle accident follows a similar line as other negligence cases. You are not entitled to a recovery simply because you in a car or accident and were injured. The other person must have breached some duty to keep you safe. They may have been at fault, committed a traffic infraction, used a wrong lane, or failed to yield at the accident. In many cases you may think you you were at fault but you may actually be able to recover. It is best to speak with one of our attorneys and have us investigate the area. In some situations there may be a pattern of injuries without a visible cause, but through investigation and research we may be able to better understand your accident case, and help you recover. Often the other driver may have contributed to the accident or had an opportunity to avoid the accident that they failed to take. In a recent case we were able to go after the city and county for failure to maintain the roadway – thus contributing to the accident by causing a dangerous condition. To help obtain your goals, rebuild your life and move your recovery, we reach beyond a typical law firm and have relationships with industry leaders, medical providers, mental and health counselors and simply good heart-ed people that are there for you and your family. At the end of the day, your home is more than your castle, your family needs to focus on recovery, and not on legal details. Since your accident and injury case is more than personal for us, we can handle the details while you move your recovery along. There is no substitution for competent legal counsel. The decisions that you make now can have a long lasting impact on you and your family. I often say that everyone gets their day in court. There is rarely a second chance to come back and change things with the judge or in a settlement agreement. The same is true in cases where you cannot always anticipate future needs. This means that you should do things correct the first time. Just because a friend went through a similar situation, does not mean that they have had the same case or that they know your situation. There is just no substitute for hiring the right law firm the first time. Call the Galewski Law Group at 855-Stan-the-Man or 813-222-8210 now and get a free consultation. Remember,in most cases, we do not get paid unless we recover for you.
The Galewski Law Group provides Accident, Insurance Claim, Injury, Chapter 7, Chapter 11 and Chapter 13 bankruptcy, foreclosure defense, mortgage modification, Divorce, and Personal Injury representation to clients throughout the Tampa Bay Area including Hillsborough, Pinellas, Manatee, Pasco, Polk, Sarasota and Hardee County and in cities that include Tampa, Clearwater, Dover, Seffner, Tarpon Springs, St. Petersburg, Palm Harbor, Dunedin, Safety Harbor, Lutz, Holiday,, Oldsmar, Sarasota, Crystal Beach, Bradenton, Lakeland, Brandon, Plant City, New Port Richey, Trinity, Spring Hill, Port Richey, Largo, Seminole, Pinellas Park, and Bartow. 412 E. Madison Street * Suite 1106 * Tampa, FL 33602 * T 813.222.8210 * F 813.222.8211