Dieppa Law BlogMay, 2012
Understanding exemptions in bankruptcy
Under Florida law, when an individual files for bankruptcy, he or she is entitled to certain “exemptions”, basically a limit of amounts and types of assets the individual can keep or protect from creditors when they file. The most commonly known is Florida’s unlimited homestead protection which entitles the individual to keep their home regardless [...]
Foreclosure settlement brings possibility of principal reductions
Five major banks and the U.S. Government reached an agreement worth as much as $26 billion. The banks agreed to streamline foreclosures, provide principal reductions, and stop abusive practices by the lenders.The following banks are participating: Ally Financial Inc., Bank of America Corp., Citigroup Inc., J.P. Morgan Chase & Co and Wells Fargo & Co.