Florida Asset Protection : Asset Protection Law & Planning in Florida - Florida Homestead Exemption

The Florida Bar is trying to do something to help relieve the foreclosure logjam in Florida courts. The Florida Bar News reports that the Bar’s foreclosure task form is urging the Florida legislature to adopt the Bar’s “managed mediation program.” The mediation program administers foreclosure cases under a separate case management program and which requires mediation between homeowner and lender in contested foreclosure cases. The program calls for the lender to pay the $750 mediation fee.

The managed mediation procedure makes it possible for courts to handle foreclosure cases more efficiently. The Bar article states that foreclosures constitute about 75% of civil court dockets. More importantly, mediation procedure mandates participation by a lender representative with authority to settle foreclosure cases.

I have found that one of biggest problems my own clients  have experienced dealing with troubled real estate is their inability to communicate with a lender employee who has the authority to make decisions on mortgage modification, short sale, deeds in lieu, and other settlements. When mediation is required, the homeowner is assured his opportunity to communicate with a lender agent with authority to make a decision. Mediation, I think, helps upside down homeowners negotiate release from liability or a meaningful mortgage modification.
 

 

posted by Jonathan Alper, asset protection and bankruptcy attorney, Orlando, Florida

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I receive several emails and calls daily from people with problem home mortgages. This week several people have asked me whether they qualify for help under the government's new mortgage assistance program. I read an article in the Wall Street Journal that described the two mortgage assistance programs implemented this past week. The Journal article included a chart that helped explain the program benefits and qualifications. I have reproduced the Wall Street Journal chart to assist Blog readers. WHO WOULD QUALIFY

I know nothing other about the new mortgage program other than what is in the Journal's chart. I am following the proposed Chapter 13 bankruptcy amendments which would allow people with upside-down primary residences to reduce mortgage principal to current market value with conditions. A Chapter 13 law has been passed by the house and a similar law is awaiting Senate consideration.

posted by Jonathan Alper, asset protection and bankruptcy attorney, Orlando, Florida

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