Tag: Miami-Dade

Bankruptcy Law, Lawyers in the News

Bankruptcy Attorney Timothy S. Kingcade Interviewed by The Miami Herald

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With about one out of every nine Miami-Dade workers — and nearly one out of every six in Broward — still out of a job due to the coronavirus pandemic, a question lingers in South Florida: How long can the region stave off an even worse economic disaster?

After a rough start, Florida’s unemployment system has come online to furnish tens of thousands of local workers with as much as $875 per week in unemployment insurance — the state’s standard $275, plus an extra $600 through the emergency U.S. CARES Act passed in March. But Florida’s unemployment insurance lasts only 12 weeks. And the extra $600 from Congress is set to expire July 31. Greater Miami ranks as one of the hardest hit metros in the country, thanks to its reliance on a tourism industry that has instantly dried up.

Foreclosures, Timothy Kingcade Posts

South Florida Foreclosures Down 33 Percent

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The increase in home prices and a stable job market have caused foreclosures to decline across South Florida.  The first half of this year, 12,463 homes were in some stage of foreclosure, down 33 percent from a year ago and 56 percent from the same period in 2015, according to ATTOM Data Solutions.

Miami-Dade, Broward and Palm Beach will close out the year with a fraction of the total that occurred during the 2009 peek of the housing crisis, when there were 172,854 properties in the process of foreclosure.  Statewide, foreclosures are down 34 percent from a year ago and 56 percent from 2015.

South Florida is on pace to finish 2017 with a foreclosure rate of about 1 percent.  Numbers have not been that low in Miami-Dade, Broward and Palm Beach since 2006.

Click here to read more on this story.

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 Kingcade & Garcia website at www.miamibankruptcy.com.

 

Bankruptcy Law, Credit, Debt Relief, Timothy Kingcade Posts

South Florida Unemployment Rate Remains the Same Despite Growth in Job Creation

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In February, South Florida’s unemployment rate remained stable when compared with the previous year despite the fact that all three counties experienced an annual increase in job creation, according to the Florida Department of Economic Opportunity.

Broward County’s rate of unemployment remained exactly the same compared to last year at 4.5 percent. Palm Beach County’s rate increased from 4.6 percent last year to 4.7 percent this year. Miami-Dade County’s rate remained exactly the same at five percent.

Broward County has reportedly created 20,400 jobs since last year. Palm Beach County created 13,200 jobs, most of which were in leisure and hospitality. Miami-Dade County had the highest increase, creating 22,300 jobs. The county created 9,100 jobs in education and health services; 3,700 in trade, transportation and utilities; 2,700 in other services; 2,500 in government; 2,400 in professional and business services; 1,400 in leisure and hospitality, 500 in construction and mining and 300 in manufacturing.

Click here to read more on this story.

If you are in financial crisis and considering filing for bankruptcy, contact an experienced Miami bankruptcy attorney who can advise you of all 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, Timothy Kingcade Posts

South Florida’s Unemployment Rates Drop to 2008 Lows

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South Florida recently experienced its lowest rate of unemployment since 2008. The combined unemployment claims dropped eight percent during October from the previous year. However, South Florida experienced declining rates of as much as 25 percent during the beginning months of 2012. In Broward County, October’s first-time unemployment was down 12 percent from a previous three-month average. In Miami-Dade, October’s rate was down five percent from the previous year. Another positive sign for the economy is that job growth rates increased during the month of October.
Although the numbers are rising for the job market and unemployment filings are down, economists are disappointed the recovery is not at the speed it was during the end of 2011 and the start of 2012. Many believe the presidential election slowed down the job growth because companies were hesitant to hire during the campaigning process.
To read more on this story visit: http://www.miamiherald.com/2012/11/14/3097754/unemployment-claims-lowest-since.html
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.

Credit, Timothy Kingcade Posts

South Florida Ranks Number One in Credit Card Delinquencies

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CredAbility, a non-profit credit counseling agency, conducted a study of 25 metro areas in the United States to determine the financial standings of major cities across the country. According to the study, Palm Beach, Broward, and Miami-Dade counties ranked highest in overall consumer credit card delinquencies. South Florida also ranked fourth of the 25 metro areas with the highest number of bankruptcy filings during the first quarter of 2012.
Much of the credit problems in South Florida can be attributed to lenders handing out credit cards to freely during the recession. Many South Floridians used their credit cards as spending money as they suffered pay cuts and job losses. Over time lenders began taking steps to hold borrowers to higher standards and not lending out money as freely as before. The financial problems for many South Floridians are not expected to ease up until the job market becomes more secure, which could take a couple more years.
To read more on this story visit: http://www.sun-sentinel.com/business/fl-worst-credit-rating-20120515,0,2146740.story?track=rss
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.

Bankruptcy Law, Foreclosures, Timothy Kingcade Posts

Bankruptcy Attorney Timothy Kingcade Discusses Bankruptcy Trends with South Florida’s Sun-Sentinel

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Bankruptcy attorney Timothy Kingcade was recently quoted in the Sun-Sentinel and talked bankruptcy trends with workplace reporter, Marcia Pounds. The story was published on September 2, 2011 and discussed how the number of South Florida consumers filing for bankruptcy fell nearly 21 percent, to 2,690 in August, from 3,387 that same month in 2010.

Timothy Kingcade attributes this trend to a stalled home foreclosure process and people being unable to afford to file bankruptcy. “I see so many people who have been unemployed for 18 months. They say, ‘I need to file, but I need a job first,’ he said.

To read more on the story, visit:
http://www.sun-sentinel.com/news/palm-beach/fl-bankruptcies-august-2011-20110902,0,7289393.story

Since 1996 Timothy Kingcade has been helping people from all walks of life build a better tomorrow by taking advantage of their rights under bankruptcy protection laws. To compliment Attorney Kingcade’s extensive experience in bankruptcy law, he is also a certified public accountant (CPA), which provides him with a unique understanding of how to handle tax-motivated bankruptcy cases against the IRS.

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

Florida Bar, Foreclosures, Timothy Kingcade Posts

Miami-Dade to get new Foreclosure Mediators

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The State’s largest foreclosure mediation program is coming under new leadership, after its original managers lost a bid to continue heading up the Supreme-Court mandated process. Oasis Alliance, which won the contract through an open bidding process, will begin transitioning to replace The Collins Center on March 28.

Like many foreclosure prevention programs that have surfaced in the wake of the housing collapse, court-ordered mediation has not been able to meet the expectations of its creators. A recent report from the Office of the State Courts Administrator found that only 6 percent of distressed homeowners eligible for mediation worked out a resolution with the bank. In Miami-Dade County, that percentage is 5.6 percent.

The main roadblock has been getting borrowers to show up at the negotiation. Homeowners were reached in only about half of cases eligible for mediation in Miami-Dade, the report found. Of the borrowers that actually attended mediation, 32 percent reached an agreement with their lender.

Miami-Dade County’s multilingual population, large geographical area and battered housing market make it a particularly difficult region for managing foreclosure mediations. There are about 70,000 unresolved foreclosure cases in Miami-Dade County court, compared to about 15,000 in the judicial circuit where Oasis is currently operating.

To read more on this story, visit:
http://www.miamiherald.com/2011/03/04/2098336/collins-dumped-as-foreclosure.html

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.

Foreclosures, Timothy Kingcade Posts

More than 14 percent of Florida mortgages in foreclosure

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It used to be that signing your mortgage documents was an exhilarating experience. New homebuyers eagerly agreed to the terms of the loan because they knew it was an important step towards becoming homeowners.

Now, most homebuyers (and lenders for that matter) sign those mortgage documents with trepidation. And in Florida, there is a good reason for their hesitation. According to the Mortgage Bankers Association, more than 14 percent of all mortgages in Florida are in foreclosure. That is the highest foreclosure rate in the country.

People who excitedly signed those mortgage papers only a few years ago are now having trouble making the payments. Perhaps they have lost their jobs, or maybe the adjustable rate mortgage became too high to pay. Or perhaps the homebuyers have encountered a different financial challenge as the Great Recession takes its toll on Floridians. Regardless of the reason, “more than 20 percent of all loans in Florida are somewhere past due or somewhere in foreclosure,” according to the vice president of the MBA.

There is another possible explanation for the rise in the percentage of Florida mortgages in foreclosure. The foreclosure process in Miami-Dade County now takes nearly twice as long as it took in 2007. Once a home enters foreclosure, it takes 742 days for the foreclosure to be completed. That means that as new homes enter foreclosure, more homes are still in the process.

For the 14 percent of homeowners in foreclosure and the 5 percent who are more than 90 days behind on mortgage payments, the future may seem bleak. However, they should know that there are legal options, especially before the foreclosure process begins. An experienced foreclosure defense or bankruptcy attorney can explain those options and help individuals make decisions that protect their assets.

Source: Miami Herald, “Florida’s foreclosure rate is nation’s highest,” Toluse Olorunnipa, 17 Feb 2011

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.