Archive for: ‘June 2012’

BANKRUPTCY ATTORNEY TIMOTHY S. KINGCADE RECEIVES PRESTIGIOUS ‘AV PREEMINENT’ RATING FROM MARTINDALE-HUBBELL

June 25, 2012 Posted by kingcade

MIAMI – Kingcade & Garcia, P.A. (www.miamibankruptcy.com) is pleased to announce that Managing Shareholder, Timothy S. Kingcade recently received an AV rating from LexisNexis Martindale-Hubbell. An AV rating is the highest level of professional excellence and ethical standards an attorney can receive.

“I am honored to have received the AV rating from Martindale-Hubbell,” said Timothy S. Kingcade. “This is a testament to the commitment that I make to each and every one of my clients and the ethical standards we uphold as a law firm. It is gratifying to know that my colleagues respect and acknowledge my legal abilities and the continued dedication to my clients.”

The AV rating attained by Timothy is the preeminent rating, achievable only after admission to the bar for at least ten years, indicating the highest level of legal ability and ethics. This rating indicates that an attorney’s colleagues and the judiciary perceive him to be at the pinnacle of professional success. LexisNexis Martindale-Hubbell conducts peer review ratings throughout the country in an effort to identify lawyers with the highest legal ability and ethical standards.

The General Ethical Standards rating denotes adherence to professional standards of conduct, ethics, reliability and diligence. The Legal Ability ratings are based on performance in five key areas, which include: Legal knowledge, analytical capabilities, judgment, communication ability and legal experience.
Attorney Kingcade practices exclusively in the field of bankruptcy law, handling Chapter 7 filings and foreclosure defense cases for the Southern District of Florida. As an experienced CPA as well as a proven bankruptcy attorney, Timothy Kingcade knows how to help clients take full advantage of the bankruptcy laws, which protect them and achieve desired results.

Miami-based Kingcade & Garcia, P.A. was established by managing partner and bankruptcy attorney, Timothy Kingcade in 1996. The firm represents clients throughout Florida in Chapter 7 bankruptcy and foreclosure defense cases. The firm is committed to providing personalized service to each and every client, clearly explaining the options according to the unique circumstances of his or her life. The office environment and the service provided are centered on a culture of superior client care. All partners and associates at Kingcade & Garcia, P.A. specialize in consumer bankruptcy and foreclosure and have dedicated their practices to this area of the law. Additionally, all attorneys and staff members at the firm are bilingual speaking Spanish.

40 Million Underwater Homeowners Consider Turning to a Mortgage Strike

June 14, 2012 Posted by kingcade

Due to the banks failure to compromise with underwater homeowners, groups such as the Home Defenders League and the recently created, Mortgage Origination & Securitization Abuses unit, may end up encouraging a mortgage strike. Statistics prove that even if a portion of the 40 million homeowners participate in the mortgage strike, this could cost banks more than a trillion dollars. Even if a mortgage strike is not the necessary step, underwater homeowners represent about 18% of all voters in America, which provide enough ability to influence policies and policy makers if they ban together.

Corporations such as the Mortgage Bankers Association have participated in this form of “strategic defaulting” in the past when their office building values have plummeted. If policy makers are unable to make the necessary changes to help homeowners, a mortgage strike might be the one method to force a negotiation with the banks.

To read more on this story visit: http://www.huffingtonpost.com/rj-eskow/40-million-strong-underwa_b_1579824.html

Choosing the right attorney can make the difference between whether or not you can keep your home. A well-qualified attorney will not only help you keep your home, but they will be able to negotiate a loan that has payments you can afford. 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

Whistleblower Lynn Szymoniak’s Bank Unsure of Payoff Figure

June 14, 2012 Posted by kingcade

Lynn Szymoniak is most well known for her investigative work in the $95 million settlement between the major banks and the government for fraudulent acts in foreclosure proceedings. The government recently awarded Szymoniak $18 million for her help in the case. Szymoniak planned to use her portion of the settlement to pay off her own mortgage and fund non-profit organizations for foreclosure victims. However, when Szymoniak went to her bank to find out the outstanding amount of her loan, American Home Mortgage Servicing and Deutsche Bank were unable to answer her questions.

After receiving the runaround for two months, Szymoniak decided to file a pleading with the court. The judge ordered the bank to give her the total amount within seven days. The bank’s attorneys asked for a five-day extension but when they came back to her with an amount of $1.4 million, Szymoniak said this was approximately $250,000 more than the bank’s attorneys told her in February of this year that she would owe.

To read more on this story visit: http://www.huffingtonpost.com/2012/06/08/home-mortgage-raised-foreclosure-banks_n_1582047.html

Choosing the right attorney can make the difference between whether or not you can keep your home. A well-qualified attorney will not only help you keep your home, but they will be able to negotiate a loan that has payments you can afford. 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

Missouri Woman Wins $31 Million for Blowing the Whistle on Citigroup

June 14, 2012 Posted by kingcade

Sherry Hunt of O’Fallon, Missouri started at Citigroup as Vice President of Mortgages in late 2004. As someone who worked in the mortgage business for many years, Hunt quickly recognized the shortcomings of the mortgage processing at Citigroup. In 2007, her sector of the company reported that about 60% of the mortgages being processed were defective. In Hunt’s report, it stated that much of the documentation from the buying and selling of mortgages was missing. After confronting her boss about this, Hunt did not notice much change in the process. Attorneys for Citigroup began questioning Hunt and she began keeping personal records on a spreadsheet at home.

In 2008, Hunt was transferred to the quality control group at Citigroup. It was there that Hunt recognized even more wrongdoings by her company. Hunt saw that her team shipped questionable loans, with issues such as forged signatures, whited-out income lines on tax forms and misspelled bank names on borrower bank statements. Hunt reached her breaking point in 2011 when a supervisor called her into his office to say that, “her ass was on the line” if the defect numbers did not decrease. At this point, Hunt decided to take advantage of the Dodd-Frank rule and blow the whistle on Citigroup.

Hunt followed all of the necessary steps that she researched, knowing there was a slim chance she would receive help from the federal government. She hired a lawyer and decided to file a false-claims complaint against Citigroup. Almost six months later U.S. Attorney Preet Bharara, who was going to assist her in her suit against Citigroup, contacted her. Ultimately, Citigroup admitted wrongdoing, settled with the Justice Department and Hunt collected $31 million.

To read more on this story visit: http://www.businessweek.com/news/2012-05-31/woman-who-couldn-t-be-intimidated-by-citigroup-wins-31-million#p5

Choosing the right attorney can make the difference between whether or not you can keep your home. A well-qualified attorney will not only help you keep your home, but they will be able to negotiate a loan that has payments you can afford. 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

Bank of America Settles with the SEC for Lying to Shareholders

June 14, 2012 Posted by kingcade

Bank of America announced its plan to merge with Merrill Lynch in 2008, admitting that there would be a small loss in the beginning. As the deal was closer to becoming official, Merrill Lynch was taking major profit hits as high as $7.5 billion in one month. After internal emails were disclosed, it revealed that Bank of America executives knew of these outrageous profit losses and downplayed them to its shareholders. At one point, Bank of America ordered Merrill Lynch to sell off assets to compensate for the profit losses, knowing that this would decrease the value to its shareholders.

Four days later, shareholders met and approved the merger. At the meeting, the CEO at the time, Kenneth Lewis knowingly made inaccurate statements to persuade the shareholders to approve the merger with Merrill Lynch. Just days after the approval, Bank of America’s attorneys prepared documents to back out of the merger due to “new financial woes.” After shareholders learned of the financial crises going on at Merrill Lynch, stock in Bank of America dropped at excessive rates. The bank did not claim wrongdoing but settled with the SEC for $150 million.

To read more on this story visit: http://stopforeclosurefraud.com/2012/06/04/how-bank-of-america-execs-hid-losses-in-their-own-words/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+ForeclosureFraudByDinsfla+%28FORECLOSURE+FRAUD+%7C+by+DinSFLA%29

If you are in a financial crisis and are considering filing bankruptcy, contact an experienced attorney who can advise you of all of your options. As an experienced CPA as well as a proven bankruptcy lawyer, Timothy Kingcade knows how to help clients take full advantage of the bankruptcy laws to protect their assets and get successful results. Since 1996 Kingcade & Garcia, P.A. has been helping people from all walks of life build a better tomorrow. Our attorneys’ help thousands of people every year take advantage of their rights under bankruptcy protection to restart, rebuild and recover. The day you hire our firm, we will contact your creditors to stop the harassment. You can also find useful consumer information on the Kingcade & Garcia, P.A. at www.miamibankruptcy.com