Tampa Title Attorney 813-222-8210

Tampa’s Best Bankruptcy Attorneys * 412 E. Madison Street * Suite 1106 * Tampa, FL 33602 * Stan “The Man” Galewski * www.Galewski.com * 813-222-8210 813.222.8121-www.Galewski.com www.GalewskiTitle.com


Tampa Real Estate Lawyers: at the Galewski Law Group we provide complete coverage of all of your real estate needs,including short sales, mortgage modifications, expunge mortgages or remove an equity line, or forgive a deficiency mortgage. On the Corporate side we have worked with full and part-time real estate investors, developers and contractors to assure that our clients have confidence in their business dealings. We have helped solve problems and moved to advance development with the U.S. Environmental Protection Agency, the Florida Department of Environmental Protection and with neighborhood enhancement programs

We have helped motivate otherwise neglectful and non- responsive contractors, and we have helped contractors to defend their work and get the money due them. We also represent individuals and families to bring peace of mind into what may be their most prized investment — their homes. We understand the problems and worries in purchasing and selling a home or investment property. Our goal is to make your home ing experience a pleasure. We work closely with the Galewski Title Company to make certain that your closing day is a moment of pride. Our Real Estate practice is divided into a transaction side that works on short sales, modifications,, and traditional real estate transactions and Litigation where we fight foreclosure, save homes in bankruptcy, or engage in traditional real estate litigation over contracts gone bad, failure to disclose problems in real estate purchases, and other land disputes such as quiet title actions, eminent domain, boundary disputes, water and easement rights Home Owners Association Problems, Property liability and Defense and nuisances. For more information about any one practice please click below: Foreclosure Defense Short Sale Mortgage Modification Chapter 13 Mortgage Modification .GalewskiTitle.com


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. 412 E. Madison Street * Suite 1106 * Tampa, FL 33602 * Stan “The Man” Galewski * www.Galewski.com * 813-222-8210