COVID-19 and Bankruptcy Cases in Florida- Part 4 of my series on the CARES Act and how it may help.

Changes in Bankruptcy 1. Income. For all debtors in Melbourne, Rockledge, Viera, Suntree and all of Brevard County, Florida, the CARES Act excludes stimulus checks and other COVID-19 related payments from being considered as income for purposes of the chapter 7 means test. It also excludes the stimulus checks for being used to determine the amount to pay unsecured creditors in Chapter 13 cases. These payments are excluded from “currently monthly income” under the Bankruptcy Code and also as “disposable income”. This allows debtors in bankruptcy cases to keep stimulus payments and not have them used to pay creditors or deny bankruptcy relief. This provision applies to any case filed before o

Does the CARES Act help me- Is my Florida Mortgage Federally Backed?Determining if a Mortgage Loan i

In yesterday’s post, I addressed mortgages and evictions under the CARES Act. As I explained, the CARES Act foreclosure and forbearance provisions apply only to “federally backed mortgages.” In addition, prior to CARES Act enactment different federally backed mortgage investors had announced different foreclosure policies. So, it’s necessary to know if a loan is federally backed. It’s also necessary to know what investor the backer is: Fannie Mae, Freddie Mac, Federal Housing Administration (FHA), Veterans Affairs (VA), and the U.S. Department of Agriculture’s Rural Home Service (RHS). The following tools provided by National Consumer Law Center, will allow you to quickly determine which i

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Gavel and paperwork Florida

       Arna D. Cortazzo

Protecting Floridians' Rights for over 30 years.