tampa foreclosure attorney: Foreclosure Prevention Companies. - 03/12/09 04:11 AM
You don't need to pay fees for foreclosure prevention help-use that money to pay the mortgage instead. Many for-profit companies will contact you promising to negotiate with your lender. While these may be legitimate businesses, they will charge you a hefty fee (often two or three month's mortgage payment) for information and services your lender may provide for free. Watch out for foreclosure recovery scams! If any firm claims they can stop your foreclosure immediately if you sign a document appointing them to act on your behalf, you may well be signing over the title to your property and becoming a … (6 comments)

tampa foreclosure attorney: Requirements and Documents for Short Sales and Loan Modifications. - 03/12/09 04:09 AM
* Signed Authorization Letter
* Hardship Letter
* Financial Statements
* 2 Months Bank Statements
* 2 Months Pay Stubs
* 2 Years W2's or Tax Returns
* Proof of Income and Assets: The Seller may be required to submit a financial disclosure form with information concerning Seller's savings accounts, money market accounts, stocks, bonds, negotiable instruments, cash, other real estate holdings, bank statements, pay stubs and tax returns.
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tampa foreclosure attorney: Real Estate Taxes and Insurance in Foreclosure. - 03/12/09 04:08 AM
It is very important that you maintain a full and thorough understanding of your property, its condition, and status throughout the process. Each November your local property appraiser begins collecting taxes for the previous calendar year. This is known as paying your tax certificate. If you do not purchase your tax certificate by the following May then your tax certificate may be purchased by any person at auction. The holder of the tax certificate may foreclose on the homeowner after 2 years and effectively take over control and ownership of the property for the cost of the tax certificate itself. If … (0 comments)

tampa foreclosure attorney: Spouses, Business Partners and Multiple Owners in Foreclosure. - 03/12/09 04:07 AM
Often times multiple signees and investors own a home in foreclosure. In this instance every person signing for the note will be personally sued and every person named on the deed or currently living at the home will be named and noticed as part of the lawsuit. If you are an investor and legally own your property with others then all signatures will be required in order to close the sale of the home.
 
Additionally, all known investors will be required to submit the required paperwork for short sale review and approval mentioned earlier. Further, all the consequences of a … (0 comments)

tampa foreclosure attorney: Second Mortgages and JR. Liens in Foreclosure. - 03/12/09 04:06 AM
Types of junior lien holders include a 2nd mortgage, equity line, home equity loan, and homeowners or condo association. Please refer to the section on homeowners and condo associations for discussion as to this type of junior lien. 2nd mortgages must also agree to release their lien for less then they're owed to complete a successful short sale. Typically, the 2nd mortgage holder will require the same paperwork and same financial analysis conducted by the primary mortgage company prior to approving a short sale. Often times, only one of the two lenders on a home will approve a short sale proposal. … (0 comments)

tampa foreclosure attorney: Credit Consequences of Foreclosure. - 03/12/09 04:04 AM
It is hard to say exactly how many points your credit score will drop due to a foreclosure. There are numerous factors that affect your credit score. It does appear though, that loss mitigation options that do not result in the completion of the foreclosure are better for your credit score depending on which credit buerau you are looking at.  However, Fair Issac Corp. (FICO) has been quoted as saying that loss mitigation options have the exact same negative effect on a person's credit score.  This is so because Fair Issac Corp. has done very little analysis distinguishing loss mitigation options vs. foreclosures, … (1 comments)

tampa foreclosure attorney: Florida Foreclosure Process: The Law Suit. - 03/12/09 04:03 AM
Below, is a brief outline of the time frames in which you can expect the foreclosure law suit to proceed.
•·        Day 1- Complaint-Filed and served on borrower. YOU MUST RESPOND IN WRITING AND/OR SERVE AND FILE AN ANSWER AND AFFIRMATIVE DEFENSES WITHIN 20 DAYS OF BEING SERVED WITH THE COMPLAINT. Any delay may make the situation you are in worse, and if a borrower or homeowner fails to do anything at all, the situation may become the worst case scenario possible. Contact us immediately for a free consultation. Florida's mortgage foreclosure process will absolutely have serious, long lasting ramifications that … (0 comments)

tampa foreclosure attorney: Collections, Telephone Calls and Harassment. - 03/12/09 04:01 AM
Most debt collection efforts by the bank and their attorneys are governed section 12 of the Fair Debt Collection Practices Act (FDCPA). This Federal Act governs the types of letters and language allowed in letters used to collect debts. Visit our website www.myCREDITatty.com to read Section 807 for 16 examples of false or misleading tactics used by typical debt collectors and their attorneys. Debt collectors and their attorneys can face fines up to $1,000.00 per violation and potential punitive damages in the event that you or your reputation is damaged through their dirty tactics.
Practically speaking, the bank will begin … (0 comments)

tampa foreclosure attorney: What Will Happen to My Home and Car If I File Bankruptcy in Florida? - 03/12/09 04:00 AM
In most cases you will not lose your home or car during your bankruptcy case as long as your equity in the property is fully exempt. Even if your property is not fully exempt, you will be able to keep it, if you pay its non-exempt value to creditors in Chapter 13. However, some of your creditors may have a "security interest" in your home, automobile or other personal property. This means that you gave that creditor a mortgage on the home or put your other property up as collateral for the debt. Bankruptcy does not make these security interests go … (1 comments)

tampa foreclosure attorney: What Property Can I Keep in Chapter 7 Bankruptcy? - 03/12/09 03:58 AM
In a Chapter 7 case, you can keep all property which the law says is "exempt" from the claims of creditors. In determining whether property is exempt, you must keep a few things in mind. The value of property is not the amount you paid for it, but what it is worth now. Especially for furniture and cars, this may be a lot less than what you paid or what it would cost to buy a replacement. You also only need to look at your equity in property. You may only exempt up to $100,000.00 of equity in your homestead.  This … (1 comments)

tampa foreclosure attorney: What is Chapter 13 Bankruptcy, Reorganization? - 03/12/09 03:54 AM
A Chapter 13 can stop the foreclosure permanently.  It may allow a delinquent borrower to pay back the delinquency and reinstate the mortgage, over a period of time, usually five years.  A borrower must make a regular payment and part payment each month until the delinquency is caught up or cured.  It is similar to a repayment plan or forbearance agreement, but Chapter 13 permits more time to pay back the delinquency.  In a Chapter 7, you will have to pay back the arrearages much quicker than 5 years, or the foreclosure will continue.
Any individual, even if self-employed or operating … (1 comments)

 
STAMATAKIS + THALJI + BONANNO  Bankruptcy, Debt and Foreclosure Defense, Attorneys at Law (STAMATAKIS + THALJI + BONANNO )

STAMATAKIS + THALJI + BONANNO Bankruptcy, Debt and Foreclosure Defense

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Tampa, FL

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