SouthFloridaBankruptcyLawBlog

Tax Consequences of Foreclosure or Short Sales of Certain Primary Residences

06/02/12

In December, 2007, Congress passed the "Mortgage Forgiveness Debt Relief Act of 2007" to alleviate tax consequence for some homeowners in foreclosure. The new Act excludes from gross income certain cancelled discharged "qualified principal residence indebtedness."

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Ft. Lauderdale Broward Chapter 7 and Chapter 13 Bankruptcy Lawyer

06/01/12

Bankruptcy Attorney Jordan E. Bublick practices Chapter 7 and Chapter 13 bankruptcy law in Ft. Lauderdale and all of Broward County, Florida. Jordan E. Bublick has been a member of the Florida Bar since 1983. Chapter 7 bankruptcy is generally used by people who desire to discharge unsecured debt and who have little non-exempt property. Chapter 13 bankruptcy is used to reorganize secured and unsecured debt as well as to discharge unsecured debt.

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Short Sale in Miami - The Chapter 13 Bankruptcy Way

06/01/12

A very hot topic in Miami is the "short sale". This usually involves a sale to another person with your mortgage company agreeing to satisfy its mortgage with a payment of less than the full amount due. A variation on the short sale is the "short refinance." In a short refinance, a person tries to refinance his mortgage with a new mortgage for less than the full amount owed on his existing mortgage with the existing mortgage company agreeing to take less than a full payoff.

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Miami, Palm Beach, Boca Raton, Broward, Plantation, and Miramar Bankruptcy Lawyer

05/31/12

Jordan E. Bublick is a Board Certified Consumer Bankruptcy lawyer (American Board of Certification). The law firm was established in 1985. Practice is limited to bankruptcy law.

Jordan E. Bublick is a graduate of New York University School of Law (LL.M., 1984), Ohio State University College of Law (J.D., 1983), and Brandeis University (B.A., 1979)

North Miami Office - 11645 Biscayne Blvd., Suite 208, Miami, Florida (305) 891-4055

Broward Telephone - (954) 424-6618

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Bankruptcy Lawyer Miami - Practice Limited to Bankruptcy

05/30/12

Bankruptcy Lawyer Miami - Practice Limited to Bankruptcy

Jordan E. Bublick Attorney at Law is a Board Certified Specialist in Consumer Bankruptcy Law (American Board of Certification) with offices located at 11645 Biscayne Blvd., Miami, Florida and South Dade Brand at 10700 Caribbean Blvd., Miami, Florida. Jordan E. Bublick limits his practice to person and businesses in Chapter 7, Chapter 13, and Chapter 11 bankruptcy. The firm of Jordan E. Bublick, P.A. was established in 1985. The firm offers a free initial consultation.

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Mortgage Foreclosure and Discharge of Indebtedness Income

05/29/12

A mortgage foreclosure may also have federal income tax consequences. One issue is "discharge of indebtedness income." This can be understood as the IRS's attempt to tax you on money you were loaned but are not going to repay. The mortgage lender may be required to report the amount of the cancelled debt to you and the IRS on a Form 1099-C, Cancellation of Debt. Fortunately though there are various exceptions to this rule and even a recently added exception.

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Florida Mortgage Foreclosure and Liability

05/01/12

A topic of much concern is liability in a residential mortgage foreclosure in Florida.

In the origination of a typical residential mortgage transaction, there are two instruments - the promissory note and the mortgage. The promissory note documents the actual terms of borrowing and the mortgage provides for a lien on the real property to secure the debt of the promissory note.

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How to File Chapter 7 Bankruptcy - Miami Bankruptcy Lawyer

04/16/12

To start a chapter 7 bankruptcy case, a person needs to file a petition with the United States Bankruptcy Court. Usually the case is filed with the Bankruptcy Court in the district where the person lives. If a person lives in Miami-Dade County, Florida it is usually filed with the Bankruptcy Court in Downtown Miami and if a person lives in Broward County, Florida, the case is usually filed with the Bankruptcy Court in Ft. Lauderdale. The Bankruptcy Court for the Southern District of Florida includes Miami-Dade, Broward, Palm Beach, and other nearby counties.

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FDIC's Blair: Millions of Foreclosures Could be "Infected"

06/05/11

The issues present in the many of the mortgages that are part of today's mortgage crisis have been much debated. It appears that there is much more yet to be debated or learned. In order to help resolve the mortgage crisis, many have urged mortgage servicers and the state Attorney Generals to reach a "global settlement." Among those is Chairman of the FDIC, Sheila C.

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