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Scott Signs Controversial ‘Fast Track’ Foreclosure Bill- Puts Florida Homeowners at Disadvantage

Posted on June 10, 2013by Admin

On Friday, June 7, 2013 Governor Rick Scott signed the controversial ‘fast track’ foreclosure bill. The bill is the first substantial change to Florida foreclosure laws since the burst of the real estate bubble in 2007, which pushed thousands of homeowners into default and overwhelmed the court system with foreclosures.

HB 87 requires homeowners to respond more quickly to foreclosure filings and gives community associations more power in the process. The bill, sponsored by Sen. Jack Latvala and Rep. Kathleen Passidomo, also requires lenders to have their paperwork in order before filing a foreclosure complaint. And it cuts the time period in which banks can seek a deficiency judgment against homeowners to one year from five.

Scott, along with other supporters of the bill believes it will help Florida’s economic recovery ‘by placing abandoned homes, caught up in the foreclosure backlog, back on the market.’

A major concern of opponents is the provision that gives homeowners only monetary damages if their home is foreclosed on fraudulently. The measure is meant to protect third-party buyers from losing the home after purchase, bill sponsors said. But defense attorneys and other opponents say the measure erodes time-honored property rights and is unfair to homeowners.
The law will also allow any lien holder, including community associations, to request a so-called “show cause” order that would require homeowners to present a defense more quickly and give the judge the ability to make a faster ruling.

Click here to read more on the foreclosure bill recently signed by Gov. Scott that puts Florida homeowners at a disadvantage.

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

72K Floridians to get $1,480 Foreclosure Relief Checks

Posted on June 7, 2013by Admin

Florida Attorney General Pam Bondi announced this week that more than 72,000 Floridians who lost their homes to foreclosure from 2008 to 2011 will receive $1,480 from the record $26 billion mortgage settlement. To be eligible, borrowers must have lost their homes to foreclosure between Jan. 1, 2008 and Dec. 31, 2011, suffered certain foreclosure abuses, submitted valid foreclosure claims and had mortgages serviced by Ally/GMAC, Bank of America, Citi, JPMorgan Chase or Wells Fargo.

According to Bondi, every borrower who filed a claim will receive a letter regarding their outcome in the upcoming weeks. Borrowers with questions about their National Mortgage Settlement payment can call the settlement administrator at 1-866-430-8358.

Click here to read more on foreclosure relief checks being mailed to Floridians who lost their homes due to foreclosure.

Timothy Kingcade Posts

Bipartisan Bill in U.S. Senate would make Tax Cheats Lose Federal Jobs

Posted on June 6, 2013by Admin

With the IRS scandal over targeting conservative groups still making headlines, two senators – one from each party – say that it is time to go after a real, proven target: federal employees who cheat on their taxes.
Senators Tom Coburn, Oklahoma Republican, and Mark L. Pryor, Arkansas Democrat, have introduced a bill that would allow federal agencies to fire any employee with “seriously delinquent” tax debt. This qualifies as outstanding debt for which a notice of lien has been filed in public records.

According to the most recent IRS data, almost 312,000 current and former federal employees owed more than $3.5 billion in unpaid federal taxes as of 2011. That is an 11.5 percent increase in the delinquency rate of federal employees compared with 2010, which also was up from the previous year. The 2011 figure included more than 107,000 current civilian federal employees who owed more than $1 billion in unpaid taxes, and almost 142,000 military and civilian retirees who owed $2.1 billion.

Senator Coburn has proposed additional legislation that would bar tax evaders from receiving government assistance- including grants, contracts, loans and agriculture-related tax credits. He has submitted the additional legislation as an amendment to the Senate’s $955 billion farm bill — a measure that includes agricultural subsidies and the food-stamp program. A vote is expected in the coming weeks.

Click here to read more on the proposed bill that would make tax cheats lose Federal jobs.

If you are in a financial crisis and are considering filing bankruptcy, contact an experienced Miami bankruptcy 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 website at www.miamibankruptcy.com.

Bankruptcy Law, Credit, Timothy Kingcade Posts

Casey Anthony Civil Suits Focus on Tampa Bankruptcy

Posted on June 5, 2013by Admin

Casey Anthony’s bankruptcy case resumed in Tampa with the focus primarily on the two defamation suits filed against her by Zenaida Gonzalez and Roy Kronk. Last month, U.S. Bankruptcy Judge K. Rodney May heard from attorneys representing the two. Gonzalez and Kronk want the judge to delay the deadline to object to the bankruptcy until after their civil suits are decided. The judge must also decide whether the suits should be resolved in state or federal court.

Anthony filed for Chapter 7 bankruptcy protection in January in Tampa, claiming $1,000 in assets and $792,000 in liabilities. Gonzalez and Kronk were listed as creditors and their cases were put on hold. Gonzalez’s suit claims her reputation was ruined when Anthony told investigators looking for Caylee in 2008 that a babysitter named Zenaida Gonzalez had kidnapped her daughter.

Kronk, a meter reader who found Caylee’s remains in the woods near the Anthony home, claims his reputation was harmed when Anthony’s attorneys wrongly implicated him in the child’s death. Anthony’s civil attorneys have said both lawsuits are frivolous and should not deny her the “fresh start” she is seeking through bankruptcy protection.

Click here to read more on the latest in the Casey Anthony bankruptcy filing.

Bankruptcy Law, Timothy Kingcade Posts

Joe Francis Claims Bankruptcy Trustee Aims to Destroy Girls Gone Wild Brand

Posted on June 4, 2013by Admin

Girls Gone Wild founder, Joe Francis says the bankruptcy trustee who recently took over his adult-entertainment business wants to destroy the company as part of his “moral personal crusade” against the brand. Since a bankruptcy judge appointed Neilson to take over Girls Gone Wild’s operations in April, Francis said that Neilson and his attorneys have been “raping the company of every dollar they can get” in legal fees.

“Todd Neilson is a devout Mormon who is hard pressed to destroy me and destroy Girls Gone Wild just because of personal animosity,” Francis, 40, said. “It’s religiously rooted.”

In an emailed statement, Neilson, an accountant, said that he and his attorneys “are fulfilling our well-established duties with respect to the bankruptcy estates—nothing more and nothing less.”

Francis is not the only businessman to complain about how much bankruptcy costs. Court papers show that Neilson got court permission to pay attorneys up to $980 an hour for their work. So far, Neilson has filed a lawsuit to try to pull the Girls Gone Wild trademarks, copyright and website names back from a quiet West Indies company that he said paid nothing for them, according to court papers. In court papers, Neilson said, “the West Indies company is part of a web of offshore entities used by an asset-protection specialist involved with Francis and the Girls Gone Wild entities.”

Click here to read more about the Girls Gone Wild bankruptcy lawsuit and founder, Joe Francis.

Bankruptcy Law, Credit, Timothy Kingcade Posts

Rebuilding Credit after Bankruptcy

Posted on June 3, 2013by Admin

More than a million people file for bankruptcy each year in this country. It is important to remember that immediately after filing bankruptcy you can begin rebuilding your credit. Below are five steps you can take to rebuild your credit after bankruptcy.
1.) Go to annualcreditreport.com and pull your three credit reports (Experian, Equifax and TransUnion). Make sure all of the debts affected by the bankruptcy are listed. Also confirm all information is accurate on each of the reports.
2.) Start getting new credit. The best way is through a secured credit card. Almost everyone is approved and a deposit will guarantee that you are able to cover the charges.
3.) Pay off the card timely, along with all of your other bills each month.
4.) Start a savings account. Having emergency savings means you will not be as likely to tap into your credit.
5.) If you made mistakes, learn from them. You should not feel ashamed after filing for bankruptcy.

Click here to read more on ways to rebuild your credit after bankruptcy.

Bankruptcy Law, Timothy Kingcade Posts

Myth vs. Fact: 5 Bankruptcy Myths Revealed

Posted on May 30, 2013by Admin

While many people assume that people who file for bankruptcy cannot resist the temptation of using credit cards or are self-proclaimed shopaholics, most people who file for bankruptcy do so for other reasons. Below are some of the myths surrounding consumer bankruptcy filings:

1.) People who file for bankruptcy are financially irresponsible. Those who typically file for bankruptcy fall into three categories: they have either lost their job, are going through a divorce or suffering from a serious illness and have insurmountable medical debt.
2.) Bankruptcy discharges all past debts. Not all debts are discharged from bankruptcy. If you have domestic support obligations (i.e. – alimony or child support), those cannot be removed under any circumstances. If you have to pay restitution because of a crime, this debt cannot be discharged. Finally, as a result of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, student loan debts cannot be discharged unless you can prove undue hardship, such as a permanent disability.
3.) If you spend recklessly before bankruptcy, you will not be liable. Some people assume that just because they are getting ready to file bankruptcy they can go out and run up new debt. Courts have ruled this as fraud and it’s unlikely you will get away with this type of spending prior to filing bankruptcy.
4.) Bankruptcy permanently ruins your credit. People who file for bankruptcy are often surprised at how quickly they start accumulating credit card offers in the mail. In fact, usually in about six to twelve months you will be eligible for a regular credit card.
5.) Bankruptcy is a cure-all. Before filing, applicants are required to go to credit counseling, during which the counselor may explain other options like negotiating a payment plan with creditors. It’s important to take what you learn from this session so you do not make the same mistakes twice.

Click here to read more on some popular bankruptcy myths.

Foreclosures, Timothy Kingcade Posts

South Florida Falls to Number Three in National Foreclosure Rankings

Posted on May 29, 2013by Admin

According to RealtyTrac Inc., Palm Beach, Broward and Miami-Dade counties fell from number one to number three in the foreclosure rankings. One in every 269 homes in the tri-county region was in some stage of foreclosure last month, RealtyTrac reports. South Florida had 9,127 total filings in April, up slightly from a year earlier, but new cases declined by 35 percent, said Daren Blomquist, a spokesman for RealtyTrac. More than 24,600 Florida homes were in the process of foreclosure last month, down slightly from a year earlier, according to RealtyTrac. Florida had the top foreclosure rate for six months in a row until being surpassed by Nevada in March.

The decline can be attributed in part to lenders getting caught up with delayed foreclosures and banks pushing through the backlog. Florida lawmakers have also passed a bill that would speed up the foreclosure process, forcing homeowners to respond more quickly to filings and giving homeowners’ associations more power in process. Opponents of the bill argue that it will strip homeowners of their rights and favors the banks, who have been accused of engaging in questionable foreclosure practices.

Click here to read more about South Florida falling to number three in the national foreclosure rankings along with new legislation aimed to speed up the foreclosure filing process in Florida.

Foreclosures, Timothy Kingcade Posts

South Beach Hot Spot Foreclosed on this Month

Posted on May 28, 2013by Admin

A final judgment of foreclosure has been entered against the Shore Club on Collins Ave. in Miami Beach. The once local hot spot and celebrity hangout has struggled to regain its financial footing since the recession. It is reported that more than $164 million is owed on the property. An online sale of the 309-room hotel has been set for June 25, 2013.

Morgans Hotel Group, which operates the Shore Club as well as the Delano and Mondrian in South Beach, released a statement saying that it “remains committed to managing the hotel to the standards our guests have come to expect.”

Click here to read more about the Shore Club being foreclosed on this month.