HUD Enhancement Protection

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The U.S. Department of Housing and Urban Development (HUD) on Friday announced significant changes to its Distressed Asset Stabilization (DASP) program meant to offer more protections to borrowers facing foreclosure and increase non-profit participation in purchasing distressed loans.

Under the new rules, loan servicers are required to delay foreclosure on a home for a year and evaluate all borrowers facing foreclosure for participation in the government’s Home Affordable Modification Program (HAMP) or a similar loss mitigation program. Loan servicers could previously foreclose on a home six months after they received the loan and were not required to evaluate borrowers for loss mitigation programs, though they were encouraged to do so.

http://www.dsnews.com/news/04-24-2015/enhancements-to-huds-distressed-asset-program-give-borrowers-more-protection

 

 

Carol A. Lawson, Esq., 28870 U.S. Hwy 19 #300, Hodusa Towers, Clearwater, FL 33761

Phone: (727) 410-2705;   email: [email protected]

 Clearwater Bankruptcy Attorney, Clearwater Bankruptcy Lawyer, Clearwater Bankruptcy, Clearwater Estate Planning Attorney,  Pinellas Estate Planning Attorney, Pinellas Probate Attorney #FileLocallyDontOverpay #ClearwaterBankruptcy #ClearwaterBankruptcyAttorney #ClearwaterEstatePlanning #ClearwaterProbate

FHFA Enacts New Rules for Sales of Non-Performing GSE Loans

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When Freddie Mac and Fannie Mae started selling off it’s non-performing GSEs in March 2015 it did it primarily through two sales.    Sales of NPLs by the two Enterprises generally include loans that are seriously delinquent, which are those that are 90 days or more past due. In many cases, the seriously delinquent loans in the GSE portfolios are more than a year overdue.

These loans included ones that were in bankruptcy, have resulted in double reporting on credit reports, multiple claims from the new lender / servicer of different balance amounts due and other headaches. It looks more like five nights at Freddie’s then a help to consumers.

The enhanced   requirements are as follows:

requiring bidders to identify servicing partners at the time of qualification, and also requiring bidders to complete a questionnaire to demonstrate a record of successful loan resolution through foreclosure alternatives; requiring the new servicer to evaluate all pre-2009 borrowers (other than those with a vacant property or an imminent foreclosure sale date) for the government’s Home Affordable Modification Program (HAMP), and evaluating all post-2009 borrowers for proprietary modifications; requiring servicers to apply a “waterfall of resolution tactics” before resorting to foreclosure, a waterfall that includes evaluating borrowers for HAMP eligibility or proprietary modification eligibility, short sale, or deed-in-lieu of foreclosure; encouraging servicers to sell foreclosed or REO properties to either a non-profit or someone who will occupy the property as a primary residence; requiring subsequent servicers to assume duties of the initial servicer; providing for better bidding transparency by developing a process for announcing upcoming NPL sale offerings that includes a proactive outreach to all potential bidders; and requiring buyers and servicers to report loan resolution results and borrower outcomes to Fannie Mae and Freddie Mac for four years after the NPL sale.

For More Info:

http://www.fhfa.gov/Media/PublicAffairs/Pages/Non-Performing-Loan-%28NPL%29-Sale-Requirements.aspx

http://www.dsnews.com/news/government/03-02-2015/fhfa-enacts-new-rules-sales-non-performing-gse-loans

 

Carol A. Lawson, Esq., 28870 U.S. Hwy 19 #300, Hodusa Towers, Clearwater, FL 33761

Phone: (727) 410-2705;   email: [email protected]

 Clearwater Bankruptcy Attorney, Clearwater Bankruptcy Lawyer, Clearwater Bankruptcy, Clearwater Estate Planning Attorney,  Pinellas Estate Planning Attorney, Pinellas Probate Attorney #FileLocallyDontOverpay #ClearwaterBankruptcy #ClearwaterBankruptcyAttorney #ClearwaterEstatePlanning #ClearwaterProbate

Happy Kwanzaa

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Kwanzaa begins on  December 26, 2019 and ends on  January 1, 2019.

Kwanzaa is a week-long celebration held in the United States and also celebrated in the Western African Diaspora in other nations of the Americas. The celebration honors African heritage in African-American culture, and is observed from December 26 to January 1, culminating in a feast and gift-giving.] Kwanzaa has seven core principles (Nguzo Saba). It was created by Maulana Karenga, and was first celebrated in 1966–67.

 

Carol A. Lawson, Esq., 28870 U.S. Hwy 19 #300, Hodusa Towers, Clearwater, FL 33761

Phone: (727) 410-2705;   email: [email protected]

 Clearwater Bankruptcy Attorney, Clearwater Bankruptcy Lawyer, Clearwater Bankruptcy, Clearwater Estate Planning Attorney,  Pinellas Estate Planning Attorney, Pinellas Probate Attorney #FileLocallyDontOverpay #ClearwaterBankruptcy #ClearwaterBankruptcyAttorney #ClearwaterEstatePlanning #ClearwaterProbate

Merry Christmas

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Christmas (or Cristenmasse , meaning Christ’s Mass) is an annual festival commemorating the birth of  Jesus Christ, observed on December 25th as a religious  and cultural celebration among billions of people around the world.  A feast central to  the Christian liturgical year; it closes the Advent season and initiates the twelve days of Christmastide, which ends on the twelfth night.  Christmas is a public holiday in many of the world’s nations and is celebrated culturally by a large number of non-Christian people .  It is an integral part of the Holiday season.

 

Carol A. Lawson, Esq., 28870 U.S. Hwy 19 #300, Hodusa Towers, Clearwater, FL 33761

Phone: (727) 410-2705;   email: [email protected]

 Clearwater Bankruptcy Attorney, Clearwater Bankruptcy Lawyer, Clearwater Bankruptcy, Clearwater Estate Planning Attorney,  Pinellas Estate Planning Attorney, Pinellas Probate Attorney #FileLocallyDontOverpay #ClearwaterBankruptcy #ClearwaterBankruptcyAttorney #ClearwaterEstatePlanning #ClearwaterProbate

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Coquito

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This is my favorite egg nog. When I lived in Puerto Rico my friend’s mom made it for Christmas and Three Kings.

HOLIDAY RECIPE 
Puerto Rican Egg Nog (Coquito)!
It takes less than 10 minutes.
Here are the ingredients:
13½-ounce can coconut milk
14-ounce can sweetened condensed milk
12-ounce can of evaporated milk
1 teaspoon vanilla extract
1½ cups crystal or light rum
¼ teaspoon ground cinnamon

¼ teaspoon ground nutmeg

In a large blender, combine all ingredients. Blend well, then refrigerate in the blender for a few hours (and up to 1 week). Just before serving, blend again to mix. Garnish with an additional sprinkle of cinnamon or nutmeg.

Carol A. Lawson, Esq., 28870 U.S. Hwy 19 #300, Hodusa Towers, Clearwater, FL 33761

Phone: (727) 410-2705;   email: [email protected]

 Clearwater Bankruptcy Attorney, Clearwater Bankruptcy Lawyer, Clearwater Bankruptcy, Clearwater Estate Planning Attorney,  Pinellas Estate Planning Attorney, Pinellas Probate Attorney #FileLocallyDontOverpay #ClearwaterBankruptcy #ClearwaterBankruptcyAttorney #ClearwaterEstatePlanning #ClearwaterProbate

FL 3rd DCA Reverses Court Order For Fraud On The Court

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The Trial Court dismissed a foreclosure action with prejudice and canceled the note and mortgage as a sanction because of failure to amend the complaint and withdraw lost note affidavits when the plaintiff had found the note.  The note was discovered 2 years into the foreclosure in the possession of the servicer.  The court issued an Order to Show Cause, neither side appeared.

the 3rd DCA reasoned that while the mortgagee’s negligence and lack of due diligence wasted the court’s time and that of opposing counsel, it did not rise to the level of fraud on the court.

http://www.3dca.flcourts.org/opinions/3D14-1015.pdf

 

Carol A. Lawson, Esq., 28870 U.S. Hwy 19 #300, Hodusa Towers, Clearwater, FL 33761

Phone: (727) 410-2705;   email: [email protected]

 Clearwater Bankruptcy Attorney, Clearwater Bankruptcy Lawyer, Clearwater Bankruptcy, Clearwater Estate Planning Attorney,  Pinellas Estate Planning Attorney, Pinellas Probate Attorney #FileLocallyDontOverpay #ClearwaterBankruptcy #ClearwaterBankruptcyAttorney #ClearwaterEstatePlanning #ClearwaterProbate

Obama Care Penalty

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If you miss tonight’s deadline, you will not have active coverage at the start of the New Year.

And if you choose not to get coverage at all, you could face a fine of $695 or 2.5% of your income, whichever is greater.

Don’t miss this deadline! Visit us online at GoHealth.com to get coverage now.

Marketplace down.  Call 1-800-318-2596

 

 

Carol A. Lawson, Esq., 28870 U.S. Hwy 19 #300, Hodusa Towers, Clearwater, FL 33761

Phone: (727) 410-2705;   email: [email protected]

 Clearwater Bankruptcy Attorney, Clearwater Bankruptcy Lawyer, Clearwater Bankruptcy, Clearwater Estate Planning Attorney,  Pinellas Estate Planning Attorney, Pinellas Probate Attorney #FileLocallyDontOverpay #ClearwaterBankruptcy #ClearwaterBankruptcyAttorney #ClearwaterEstatePlanning #ClearwaterProbate

11 U.S. Code § 547 – Preferences

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Got a  Chapter 7 Trustee seeking to avoid a transfer as a  preference under 11 USC § 547 ?

You may want to think about asserting an “Indirect Transfer” Defense. The U.S. Trustee or debtor can seek to set aside a payment made to a creditor within 90 days of the debtor’s bankruptcy filing pursuant to Section 547 of the Bankruptcy Code.  One defense to the Trustee’s preference avoidance powers, is to assert the “indirect transfer” defense.

 

https://www.law.cornell.edu/uscode/text/11/547

This defense can be used when:

  1. The Creditor whom the Debtor owes can assert a right to payment against a third party if the debtor defaults ( ex. non-filing spouse)
  2. The third party would then be able to seek indemnification from the debtor ( ex. co-signer)

If the value the debtor received from the third party equaled the payment the debtor made to the creditor, there was no net loss to the estate and the “indirect transfer” defense may be asserted successfully.

 

Carol A. Lawson, Esq., 28870 U.S. Hwy 19 #300, Hodusa Towers, Clearwater, FL 33761

Phone: (727) 410-2705;   email: [email protected]

 Clearwater Bankruptcy Attorney, Clearwater Bankruptcy Lawyer, Clearwater Bankruptcy, Clearwater Estate Planning Attorney,  Pinellas Estate Planning Attorney, Pinellas Probate Attorney #FileLocallyDontOverpay #ClearwaterBankruptcy #ClearwaterBankruptcyAttorney #ClearwaterEstatePlanning #ClearwaterProbate

Happy Holidays

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Holiday wishes from our office to you and yoursWinter

 

 

 

 

 

Carol A. Lawson, Esq., 28870 U.S. Hwy 19 #300, Hodusa Towers, Clearwater, FL 33761

Phone: (727) 410-2705;   email: [email protected]

 Clearwater Bankruptcy Attorney, Clearwater Bankruptcy Lawyer, Clearwater Bankruptcy, Clearwater Estate Planning Attorney,  Pinellas Estate Planning Attorney, Pinellas Probate Attorney #FileLocallyDontOverpay #ClearwaterBankruptcy #ClearwaterBankruptcyAttorney #ClearwaterEstatePlanning #ClearwaterProbate

Happy Chanukah

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Neon Star of DavidHanukkah (alternately spelled Chanukah), meaning “dedication” in Hebrew, refers to the joyous eight-day celebration during which Jews commemorate the victory of the Maccabees over the armies of Syria in 165 B.C.E. and the subsequent liberation and “rededication” of the Temple in Jerusalem. The modern home celebration of Hanukkah centers around the lighting of the hanukkiyah, a special menorah for Hanukkah; foods prepared in oil including latkes (potato pancakes) and  sufganiyot  (jelly doughnuts); and special songs and games.

 

Carol A. Lawson, Esq., 28870 U.S. Hwy 19 #300, Hodusa Towers, Clearwater, FL 33761

Phone: (727) 410-2705;   email: [email protected]

 Clearwater Bankruptcy Attorney, Clearwater Bankruptcy Lawyer, Clearwater Bankruptcy, Clearwater Estate Planning Attorney,  Pinellas Estate Planning Attorney, Pinellas Probate Attorney #FileLocallyDontOverpay #ClearwaterBankruptcy #ClearwaterBankruptcyAttorney #ClearwaterEstatePlanning #ClearwaterProbate