Asset Protection

November 18, 2009

Loan Mortgage Modificiation and Foreclosure Defense

Many Jacksonville Foreclosure Lawyers see the poor attempt by banks to do loan modifications.

Loan Modifications are in the news in Jacksonville Florida where it appears that many have been told to stop making payments to be eligible for a Mortgage Modification. Once individuals stop making payments, the banks have been known to stall and claim that they have lost the records. Often individuals who participate in loan modifications must resubmit documents every thirty days. Many do not qualify for the government supported loan modifications and are only offered minor drops in the payments.

If you are participating or trying to achieve a Florida Loan Modification, you should be gathering information on violations of the laws by the people you are speaking to. Please contact a Florida Foreclosure Lawyer to request information on how to log these violations. These violations of the laws can be compensated and can help to offset your mortgage amount.

November 18, 2009

Judicial and Non-Judicial Foreclosure?

by David M. Goldman

As a Jacksonville Foreclosure Lawyer its important to understand the difference and benefits of a Judicial Foreclosure state like Florida over a Non-Judicial Foreclosure state like California.

Florida law requires that the lenders and mortgage companies seek a court judgment that allows for the foreclosure. This type of foreclosure is a Judicial Foreclosure. Over 20 states have non-judicial foreclosures and do not have the formal process. A Judicial foreclosure state, like Florida, is good for consumers because it provides a structure to file counterclaims and asset other defenses for Truth in lending violations or violations of the Fair debt Collections Act.

In other states, clients have a difficult time in asserting defenses. If you have been trying to work on a Loan Modification and have not been successful, you should contact a Jacksonville Foreclosure Lawyers to discuss things that can be done to prepare for foreclosure and to keep track of violations that could create monetary damages that you may be entitled to.

November 5, 2009

Foreclosure Defense Information

by David M. Goldman

Jacksonville Foreclosure Lawyers from the Law Office of David M. Goldman PLLC will be attending a workshop in Jacksonville Florida on Defending Foreclosures in Florida on Friday November 6th. April Charney, a nationally recognized foreclosure expert will be featured at the foreclosure workshop.

The Program will include

* Federal and State laws that Govern Mortgage Origination * Understanding Loan Documents, Origination, and Closing Process * Servicing Problems and Post Origination Issues * Common Law / State Law Causes of Action and Affirmative Defenses for Foreclosure Cases * Drafting Discovery and Foreclosure Motion Practice * Ethical Discussions / Consideration in Foreclosure Practice.

For More information on attending this seminar, you should contact Christa Figgins at 224-1545

November 5, 2009

Working with Mortgage Company on Loan Modification

by David M. Goldman

Florida Foreclosure and Loan Modification Question I’ve been served with a complaint for foreclosure, but I have been working with my mortgage company on a loan modification, do I really need to respond?

Response It is important to respond to any complaint timely to preserve your rights. The Summons you were served, together with the Notice of Lis Pendens and Complaint require some sort of response to be file with the Court. Your failure to respond will result in a Default being entered against you. You should talk with a Florida Foreclosure Lawyer before responding to the Court. it is important that you do not waive any potential defenses, and time is of the essence in filing your answer.

For more information on Jacksonville or Florida Foreclosure Defense See the Florida Foreclosure Defense Lawyers Blog.

November 4, 2009

Foreclosure and Mortgage Default

by David M. Goldman

Mortgage Default Letters. We are often asked what should you do once you receive a letter that states you are in default of your mortgage.

If you have received a Notice of Default you can send a debt verification letter to the entity you are making payments to. You can also send a Qualified Written Request “QWR” and obtain valuable information about your loan.

Pursuant to The Real Estate Settlement Procedures Act, 12 U.S.C. § 2605(e), your mortgage company is required to acknowledge your request and must respond timely.

October 29, 2009

Asset Protection and Fraudulent Transfers

by David M. Goldman

Under the Uniform Fraudulent Transfers Act (UFTA) whether a transfer is considered fraudulent boils down to two basic issues.

1) Actual Intent 2) Insolvency and Transfer for less than full value

The intent of the transfer is whether it was done to avoid payment or reach of a potential creditor that existed at the time the transfer took place. It is possible to have an intent other than to avoid the creditor’s reach that is not fraudulent. Often people want to transfer assets to others for little or not value, this is a problem because of the second issue.

October 28, 2009

Asset Protection and Protecting Against Outside Creditors

by David M. Goldman

Florida Asset Protection typically deals with protecting assets from Inside creditors and Outside creditors. Outside creditors are those creditors whose claims arise the business entity and are then assert4ed against the business, real estate, or asset.

It is possible to protect against Outside debts or creditors by using a business entity like a:

Limited Liability Company

October 28, 2009

Asset Protection and Inside Creditors

by David M. Goldman

Florida Asset Protection typically deals with protecting assets from Inside creditors and Outside creditors. An inside creditor is a creditor whose claim is directed against the business or real estate that is owned and operated within a business entity.

It is possible to protect against inside debts or creditors by using a business entity like a:

C Corporation S Corporation

Limited Liability Company

October 28, 2009

Asset Protection for Business Owners

by David M. Goldman

Florida business owners are one of the groups of individuals who need Florida Asset Protection. There are two types of risks that business owners are at risk of loss. First is the risk that comes from within the business. The second type of risk comes from their personal life and may put their business and income at risk. It is important to structure your business and personal assets to minimize the risk to a loss. The first step a Florida business owner should take is to review their Florida Estate Planning with an eye towards reducing risks from assets to themselves, assets to other assets, as well as personal liability to assets that you own individually or within a business entity.

July 23, 2009

When Is It Time to “Service” Your Estate Plan?

by David M. Goldman

If you own a car, then you know it requires regular servicing in order to perform well and be reliable. More than likely, your car came with a recommended schedule for service, based on how many miles it has been driven. After a certain number of miles, you need to change the oil, replace the brake pads, rotate the tires, and so on.

If you have a newer car, you probably have an irritating dash light that comes on when it’s time for service and stays on until the mechanic resets it. Either way, whether you pay attention to the odometer or rely on that dash light, it’s pretty easy to know when it’s time to service your car. And if you keep driving it without servicing it, it’s a sure bet your car will let you down.

Like your car, your estate plan needs “servicing” if it is going to perform the way you want when you need it. Your estate plan is a snapshot of you, your family, your assets and the tax laws in effect at the time it was created. All of these change over time, and so should your plan. It is unreasonable to expect the simple will written when you were a newlywed to be effective now that you have a growing family, or now that you are divorced from your spouse, or now that you are retired and have an ever-increasing swarm of grandchildren! Over the course of your lifetime, your estate plan will need check-ups, maintenance, tweaking, maybe even replacing.

So, how do you know when it’s time to give your estate plan a check-up? Well, instead of having mileage checkpoints, your estate plan has event checkpoints. Generally, any change in your personal, family, financial or health situation, or a change in the tax laws, could prompt a change in your estate plan. Use the list at the end of this newsletter to guide you.

It’s a good idea to review your estate plan every year. Set aside a specific time every year (your birthday, anniversary, family gathering) to review it. Keep these events in mind each time you read through your documents. If you think a change may be in order, don’t write on your actual document; contact your attorney. Most changes can be handled by a simple amendment that is attached to your current will or trust.

Planning Tip: Like your car, your estate plan needs regular “servicing.” Set aside a specific time every year (your birthday, anniversary, family gathering) to review it. Become familiar with it. Keep it current so it will perform the way you want when you need it.

What Do You Do with Your Estate Plan?
Think for a few moments about what would happen if you became incapacitated or died today. Would your spouse, family and successor trustees know what to do?
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