Archive for: ‘January 2011’

Studies Show Older Unemployed Workers Still Suffering

January 14, 2011 Posted by kingcade

Out of all of the demographic groups suffering from the current economic conditions, numbers conclude that older workers may have the toughest time adapting. Seniors have been hit the hardest by the recession, due largely to their skills being outdated and their age working against them, resulting in long term unemployment.

According to AARP, people over 55 who had lost their jobs saw their average duration of unemployment fall to 42.8 weeks in December, from 44.9 in November. Employers are often hesitant to hire applicants who have been out of work for more than a year because of stigma about unemployment. About 55.5% of all job seekers over 55 have been unemployed for 27 weeks or longer, says AARP. That’s compared with 42.4% of job seekers 55 and under.
Joblessness for older Americans could put a strain on already stressed social systems. The long-term unemployed run out of jobless benefits after 99 weeks. After that, many workers dip into retirement funds. Others apply for disability. Some apply to receive Social Security benefits early. Many seniors are left wondering, “What am I going to do the rest of my life?”

To read more on this story, please visit:
http://latimesblogs.latimes.com/money_co/2011/01/older-workers-recession.html

If you have any questions on this topic or are in need of a financial fresh start, please contact our experienced team of bankruptcy attorneys at (305) 285-9100. You can also find useful consumer information on the Kingcade & Garcia, P.A. website at www.miamibankruptcy.com.

Fannie Mae Introduces New Florida Foreclosure Prevention Program

January 10, 2011 Posted by kingcade

By the time many people consider alternatives to foreclosure, the lender has already begun the foreclosure process. Options like negotiating with the lender become nearly impossible because the foreclosure process is completed before those negotiations have time to produce results.

This is why Fannie Mae has introduced a new program in Florida. The initiative is designed to give homeowners who are behind on their mortgage payments the opportunity to negotiate a lower monthly payment before the foreclosure process begins. While this program should not take the place of working with a bankruptcy attorney to make the best decisions, it may help people stay in their homes and avoid foreclosure.

Foreclosure defense attorney, Timothy Kingcade has helped many facing foreclosure alleviate their stress by letting them stay in their homes for at least another year, allowing them to re-organize their lives. If you have any questions on the topic of foreclosure please feel free to contact me at (305) 285-9100. You can also find useful consumer information on the Kingcade & Garcia, P.A. website at www.miamibankruptcy.com.