At this time of year our minds are drawn towards preparation for the holidays. It is a time to reflect on all the wonderful blessing that we have been given.
For me, of course, there are the standard top three; God, Family, Health. However, as an attorney I can’t help but consider everyday, the great overarching blessing of Country which enhances all of the above. What makes this Country great, and has really set it apart historically from other great civilizations are its government, and its laws. We are a nation of laws, and the gleaming example for the world of orderly self-rule.
There are still thousands in our State facing imminent foreclosure, and many more still facing the oppressive, predatory collection tactics of creditors. 40% of our homes will still be underwater, and our State’s unemployment will still be well above the national average.
While those statistics are depressing, fortunately there are numerous laws that offer relief and protection to homeowners. The laws which I deal with everyday save many people from losing their homes, their cars, and wages. These laws come in the form of both carrots and sticks.
The Bankruptcy code is, of course the big stick, which forces creditors to relieve you of your debt load. The carrots are the creditor-volunteer help programs such as the HAMP and HARP programs, as well as the Dodd-Frank act which encourages creditors to accept short sales, and deeds in lieu of foreclosure. One such act, the Mortgage Forgiveness Debt Relief Act, which has provided tax relief for many who have gone through a short sale/deed-in-lieu, is due to expire at the end of this year.
It is unknown if these opportunities for relief will remain available in the future. The one thing that is for sure is that you will want to have your credit restored, and you will want to save your home or property before the safety nets go away.
So if you are in a situation where you are in need of relief from debt or foreclosure, and are trying to save your home or business, I encourage you to seek professional advice. Someone that can explain options available to you.
Give us a call today 386-445-8900 and ask for me personally. I will gladly take your call.