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West Palm Beach Law Blog

Removing an HOA lien on a home

If you are juggling a monthly or annual homeowner’s association payment in addition to your monthly mortgage, you may, like many Americans, struggle to pay both in full before they are due. An HOA lien is what happens if you fail to pay your HOA fees or assessments on time, and the association comes after you. This type of action can cause significant problems, and in some cases, it can give your HOA the power to foreclose on your home.

There are, however, some steps you may be able to take in defense of such an action. If you are unable to pay your HOA fees and an HOA lien is placed on your home, consider taking the following actions.

How mortgage modification works in Chapter 13 bankruptcy

If you are struggling to make your mortgage payments, you might be afraid you will lose your home. Bankruptcy is often a scary term, but it does not have to be. If done correctly, declaring bankruptcy can help you modify your mortgage loan.

The process might sound intimidating and complex, but it is easily understood with the right help. Keep reading to learn how loan modification works in a bankruptcy situation. 

Are you too far gone in debt?

Bankruptcy has the potential to help many people start over financially. However, issues such as perceived shame prevent some people from filing.

Another issue that keeps many from filing is the fact that they do not realize they are too far gone in debt. Living a certain way has become "regular life," and these people are too close to their situations to realize that things do not have to be that way.

What happens if your vehicle is repossessed?

People who are overwhelmed with debt face many hard choices. Sometimes, they decide to skip some loan payments for a few months in order to keep the electricity or other essentials on.

However, if you skip your car payments, that could mean your vehicle gets repossessed at some point. What happens then?

Can you stop a wage garnishment?

The threat of a wage garnishment can be devastating to your finances. Many debtors are not aware that they have rights when it comes to wage garnishment and do not know what to do to prevent their income from seizure. Under federal law, a creditor cannot take more than 25 percent of your disposable income, but under Florida law, there are even more protections for you

Florida law on wage garnishment

3 ways Chapter 13 bankruptcy can save your home

If you are in financial turmoil and declaring Chapter 13 bankruptcy, you might be worried about what will happen to your home. The good news is that Chapter 13 bankruptcy gives you tools to delay or prevent foreclosure and modify your mortgage. Just because you are behind on your mortgage payments does not mean all hope is lost. Saving your home is possible.

With the right help, you can get back on track financially. Learn the three ways Chapter 13 bankruptcy can save your home.

How a low credit score impacts mortgage eligibility

If you are on the market for your first home, you are probably getting a crash course in personal finance and how your financial status ultimately impacts your ability to secure a loan. Among the many factors a potential mortgage broker will look at when determining whether to extend you a loan is your credit score, which gives them an idea of how likely you are to pay back money owed.

While the decision of whether to extend you a loan will depend on your credit score in combination with other key factors, there are certain minimum guidelines you must typically meet.

How to deal with a vehicle cramdown

Debt can threaten to rule your life, but many people avoid addressing the issue for fear that doing so will force them to liquidate their assets. While liquidation is one potential solution to debt, it is not necessarily required. In Chapter 13 bankruptcy, in fact, a vehicle cramdown may allow you to reduce the principle on your loan. Here are some things you should know about this option.

Understanding vehicle cramdown

How do you raise your credit score after filing for bankruptcy?

Have you decided you are tired of being smothered by your debt? Bankruptcy is a valuable option for dealing with medical bills, divorce fees, overwhelming credit card debt or costs incurred because of job loss. However, many people like you fear what bankruptcy will do to their credit. Rebuilding your credit after bankruptcy may be easier than you think if you are proactive.

Debt collection harassment techniques

People in Treasure Coast who are struggling to pay their bills on time are already stressed out about their financial situations. But when creditors resort to using deceptive tactics to collect delinquent payments, they are breaking the law. These tactics are done to intimidate and coerce people into paying their debts even when they do not have the means to do so. The Fair Debt Collection Practices Act (FDCPA) offers debtors protection from creditor harassment. People who want to put an end to creditor harassment should make themselves aware of the harassing ways used to collect payment.

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