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What Does The Foreclosure Settlement Mean For You?

On February 9, 2012 the State Attorneys General for 49 states entered into a $25 billion settlement with five of the Nation’s largest banks, Bank of America, Wells Fargo, Ally Financial, JP Morgan Chase and City Group. The purpose of the settlement is to end home foreclosure abuse stemming from robo-signing and to provide some relief to homeowners who are: 1. Delinquent and underwater 2. Underwater but current 3. Lost homes to foreclosure in the past 3 years. The settlement covers 1.8 million homeowners nation wide. It is the largest consumer finance settlement in US history and is second in overall settlements only to...

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Mortgage And Foreclosure Problems: Available Help

Do you have mortgage or foreclosure problems? There is help available. Distressed homeowners now have additional programs to help them deal with their mortgage or foreclosure problems. Below are some examples of the help available: 1. There is now additional governmental assistance for those homeowners who are unemployed and are having trouble making their mortgage payment. The Obama administration has expanded assistance to unemployed homeowner by requiring that mortgage servicers for FHA insured loans allow some (qualified) unemployed homeowners to miss up to a year of mortgage payments while they search for a job. The current hiatus period is four months. This...

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A Review Of The 2012 Legislative Session

Below is a brief summary of some of the bills that were passed by the 114th session of the Florida Legislature and some that did not pass this session. Some of the Bills that Passed: (Must be signed into law by Governor Scott before they become law) Septic Tank Inspection: The legislature repealed a 2010 law requiring inspection of septic tanks every 5 yrs. Budget: The legislature passed a $70 billion budget with no new taxes, giving $1billion more for public schools, providing for 5000 fewer state jobs ( half in Dept. of Corrections) ; Reducing State Medicaid payments to Hospitals...

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Judicial Developments Related to the 2012 Legislative Session

There have just been two major judicial decisions dealing with recent legislative changes. These include the recent Florida Supreme Court decision finding the Senate’s redistricting map unconstitutional and the decision by a Leon County Circuit Judge finding unconstitutional the requirement that members of the State Retirement System contribute 3% of their salaries to the pension fund. I. The Florida Supreme Court Rejects Senate’s Redistricting Map, and Confirms House Map by 5-2 vote. In a 234-page ruling written by Justice Pariente, the Florida Supreme Court ruled that the Senate Redistricting map was unconstitutional, but that the House map met the c0nstitutional requirements. (Justices...

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Recent Changes In Florida’s Power Of Attorney Law

Effective October 1, 2011 the requirements for a valid power of attorney in Florida changed. These changes have significant impact on estate planning issues and on how powers of attorney can be used. The following changes have been made to Florida statute 709, Florida’s power of attorney statute: 1. An individual can no longer make a “springing” power of attorney. A springing power of attorney is a power of attorney that becomes effective in the event of disability or some future event such as incapacity. There is an exception for certain military powers of attorney that become effective upon active enrollment...

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