Rodriguez Law, P.L.

7 Benefits of Having an Attorney Help You Close on a Real Estate Purchase

Sun, 19 May 2019 22:22:57 GMT

If you have ever thought about NOT hiring an attorney for closing on a real estate purchase, unless you are paying cash, you are setting yourself up for a headache. Mortgages require more than a little bit of paperwork, enough so that you will be signing papers for at least an hour – with an attorney’s help. Without one? It’s a risk, and it may not be worth it, especially if you are buying a home.

Having that massive amount of paperwork organized and ready for your signature is a great benefit, but it is hardly the only good thing about having an attorney who has your back during closing. Here’s why:

You can trust your real estate agent to find you a great house, and while they understand real estate law, they aren’t an attorney. However, if problems arise at closing, they may not be as equipped to handle those issues. An attorney will be a better guide.
An attorney can help coordinate conversations between lenders, buyers and sellers, as well as anyone else involved in the sale. This can include a mortgage holder if the closing is a refi, a homeowner’s association, contractors, and all other parties.
Your real estate lawyer can help with purchase agreements, which may include clauses you don’t understand – or don’t want to be part of an agreement.
An attorney can help you negotiate. Maybe you’re willing to pay full price – if the appliances or the furniture that gives the pool deck its character is part of the agreement. If your real estate agent didn’t make this happen, perhaps your attorney can negotiate the things you love into the sale.
A lawyer can be the last set of eyes on your paperwork. Once you sign a document, you are held to a certain standard. If something is amiss in your paperwork, your attorney will find it, giving you and the other party the opportunity to make any necessary edits.
Closing can be confusing. There are so many documents, an attorney can help you stay focused so that you are not just signing papers, but know exactly what you’re signing when you put pen to paper.
Your attorney can help make sure that the title to your new home is clear of any liens, and can also ensure that there are no title errors. Title insurance, which protects you from liens that might come up in the future, is also in a closing attorney’s wheelhouse.

Contact a Florida Real Estate Attorney

If you have questions about why you should hire an attorney to help you with your closing or are looking for an experienced attorney, contact real estate attorney Ricardo Rodriguez at Rodriguez Law, PL at (305) 262-8226 today.

Understanding the Appraisal Process in a Real Estate Sale

Fri, 19 Apr 2019 22:13:14 GMT

If you’re thinking about buying, selling, or refinancing your home in order to take advantage of a better interest rate, the appraised value of your property is an important number. An appraisal will help determine how much you will likely be able to get for your home if you sell, or in the case of an refi, which usually only allows a portion of the property’s value to be included in a new loan, will determine how much a lender will be willing to loan you, since the loan received from a refi usually only includes a percentage of the home’s value.

Appraisers are working on behalf of the lender and will assess the value of your property based on the value of similar properties in your neighborhood. Comparable properties usually must be located within a few miles of the property being assessed, must be of similar square footage, and should be built within 10 years or so of the property in question.

Do recent improvements elevate a home’s value?

While you may have made numerous improvements in anticipation of boosting the value of your home for a bigger profit when you sell, a new roof, a bathroom and kitchen remodel, or other new features that should give your home an edge over the comparable properties may not make much of a difference, which may be disappointing to hear.

When an assessor looks over your property, he or she will take measurements and photographs, and will also make notes of improvements. But real estate assessors base their final assessment on six different labels – poor, fair, average, good, very good, and excellent – along with square footage, location, and other considerations.

After using those ratings to determine the condition of your home, taking into consideration the improvements you’ve put into your home, they make that final assessment by comparing your home to the homes they’ve chosen as similar to yours, which are also given a rating, without being seen in person.

Even if your home is given a higher rating than the homes your assessor is comparing it to, you are not likely to recoup the entire value of the investment you spent making improvements.

For buyers, an assessment is required because lenders will not loan money for a mortgage if the property’s value is less than the sale price, a situation that would cause problems if the buyer defaulted on the loan because the bank couldn’t sell it for enough to cover the overall cost of the loan.

Contact a Florida Real Estate Attorney

If you have questions about why you need a home appraisal when it comes time to sell your home or property, contact real estate attorney Ricardo Rodriguez at Rodriguez Law at (305) 262-8226 today.

8 Items a Title Search Might Uncover

Tue, 19 Mar 2019 22:03:13 GMT

Buying a home or property is a major investment, often the biggest one of your life, and taking the right steps to ensure that the home is free from any encumbrances before you make the purchase will protect you and allow you to enjoy your new asset for years to come. Some of the most important things to think about include hiring an inspector to check for safety issues, making sure the property is priced fairly compared to other homes in the neighborhood, and doing a title search to determine that there are no limits on how you might use your land or if someone else’s name is attached to the home or property.

A title search – which involves retrieving the court documents associated with the home or land, such as liens or easements – can prevent you from buying your dream home, only to find out that you have suddenly become the owner of someone else’s debt along with the home. While it is possible to determine whether or not your home is free from liens or other constraints on your own by going over courthouse files or visiting the assessor’s office in the county where the property is located to view records, title issues can be complicated, and hiring an experienced real estate attorney will not only save you a lot of legwork, but will also make sure that you don’t miss something on your own by ensuring that your home is free from legal issues.

Title searches essentially determine whether or not the home you are buying is free from liens or can be legally sold by the person selling the home, in case ownership is disputed. Here are eight important things that a title search might uncover:

The current owner of the property.
A description of the land, including acreage, restrictions, easements and other covenants that could prevent certain usages.
Any type of encroachment onto someone else’s property, such as a fence or a tree, that will require some type of resolution before the final sale.
Restrictive covenants. Condominiums or homes that are part of a homeowner’s association may have restrictions on what owners can do with their property, including what colors they can paint their homes, the architectural designs allowed for new homes and other restrictions such as swimming pools or decorative elements.
Any existing liens on the property. A lien is a debt, and it could be a mortgage lien or a mechanic’s lien, which is a lien against a property placed by construction firms for work performed or materials used to improve a property.
Judgment liens. If the owner of the property is a defendant in a lawsuit and loses his or her case, a lien could have been placed on the property to cover the lawsuit settlement.
Tax liens. The former owner of the property may have unpaid local, state or federal taxes, and the government could have placed a lien on the home to cover those back taxes.
Marital liens. In some cases, the title of a home will be given to one party in a divorce settlement, with a lien in place for the other party as a way to secure spousal or child support at a later date.

Will title search finds prevent a sale?

Any title issue, including those that may arise from an inherited home with long-forgotten spousal or child support liens still in place, will have to be resolved before closing.

Contact a Florida Real Estate Attorney

If you are buying a previously owned home and are concerned that there may be liens on the property that haven’t been disclosed to you, a title search is an important step in the buying process. Having an experienced attorney at your side can help you unearth unknown liens so you are not left with debt from one of the home’s previous owners. To protect yourself and ensure that your dream home does not become a nightmare, contact experienced real estate attorney Ricardo Rodriguez at Rodriguez Law at (305) 262-8226 .

5 Possible Alternatives to Foreclosure

Tue, 19 Feb 2019 21:53:05 GMT

Millions of people fall behind on their mortgage payments each year – a sudden layoff, medical bills, or a hot water heater that dies mid-January, can all be financially catastrophic – leaving them afraid to check the mail for fear that a foreclosure notice might be waiting for them. If you’ve missed a few house payments and worry that you might soon be the recipient of an unwelcome foreclosure notice, there are some steps you can take now that might help you save your home and get your finances back on track.

Loan modifications.

If you have only missed a payment or two, you may be able to set up a loan modification so payments are smaller and easier to manage. Many banks will work with you to modify your loan, either by lowering your interest rate, reducing monthly payments or reducing your principal. Many of the nation’s top banks are willing to work with those at risk of foreclosure with a loan modification and have been since the housing market crash of 2008 when so many people were under water on their mortgages, owing much more than the home was suddenly worth.

Refinancing.

If you are only beginning to feel the pinch of your mortgage payments, refinancing may be an ideal option as long as your credit score is still good and you have some equity built up in your home. A refi will end foreclosure because you will have an entirely new mortgage, often with a different lender. Shop around in order to get the best interest rate possible, so your payments will be lower and easier on your budget, and you will be less likely to fall behind in the future.

Bankruptcy.

When you file bankruptcy, actions such as foreclosure proceedings are put on hold until you have discharged the bills owed to creditors. Filing Chapter 13 allows you to set up a payment plan – usually over the course of three to five years – for your missed payments, preventing you from losing your home. Chapter 13 may also allow you to eliminate second or third mortgages on your home if those are weighing you down. This option is possible if you are upside down on your home and there is little or no equity to secure those second or third mortgages. They are then considered unsecured debt and are erased under Chapter 13 proceedings.

Payment plans.

You may not have to file bankruptcy in order to use payment plans to save your home. In some cases, a mortgage company may be willing to work with you through a process called forbearance during which you make your normal monthly mortgage payment along with a bit extra to cover the payments you owe. After a few months, you should be caught up with your mortgage and will be back in good graces with your finance company.

Add a renter.

If you have a large home, perhaps with a basement space or even simply an extra room, renting the space – or renting out your entire home if you have other housing options – could be an excellent short-term option to help you save your home from foreclosure. While the idea of sharing your home may not be ideal, it is certainly better than losing the home into which you’ve invested so much time and money, and leaving a long-term black mark on your credit files.

Contact a Florida Real Estate Attorney

If you are facing foreclosure or are concerned that your income won’t be enough to cover your house payments in the coming months, your first move should be to contact an attorney who can help you decide which solution is best for you and will be the most effective option to potentially allow you to keep your home. Having an experienced attorney at your side can prevent your lender from taking action without giving you the opportunity to attempt to work with them to find a solution that suits both parties. If you’re facing foreclosure, call experienced real estate and bankruptcy attorney Ricardo Rodriguez at Rodriguez Law at (305) 262-8226 .

In a Car Accident? Take These 7 Steps Immediately

Sat, 19 Jan 2019 21:33:09 GMT

Being in a car accident can be frightening and disorienting, but in order to protect yourself legally, it’s important to follow certain steps if you are physically able to do so in order to ensure that your damages are covered, not only those that your vehicle sustained in the crash, but also any injuries that you and any passengers who may have been with you in the accident might have suffered.

Even if a car accident seems minor, it’s important to follow certain steps, because a wrong move during the initial phases of an accident may result in bills you yourself cannot cover – and the other driver’s insurance company may refuse to take on.

Here’s what to do:

Check for major injuries, then call 911.

Even if you or other drivers do not seem to be injured, the adrenaline of an accident’s aftermath can mask pain, so you may be unaware of any injuries, even serious ones. Call 911 so the crash can be documented and so that you can be checked for injuries. Medical professionals such as EMTs can better access your health. If you don’t feel the need to take an ambulance to a nearby hospital, visit an urgent care facility or make an emergency appointment with your primary care physician after you leave the accident to determine if you did sustain any injuries.

Stay at the scene.

Leaving not only makes you more likely to face criminal charges, but you may also end up paying compensation to the other driver even if the accident was not your fault. Exchange pertinent information with the other driver – or drivers – while waiting for the police to arrive. Officers will then interview all involved and determine who was at fault in the accident and issue the appropriate citations.

Take photographs.

If you are able to do so, take pictures of the accident scene. Photograph the damages to your vehicle, take shots of the other vehicle, digitally document tire marks on the road, and snap photos of anything that might be useful as evidence if your case goes to court.

Gather information.

Talk to as many witnesses to the accident as possible. Also, gather contact information from those witnesses so that your attorney can talk to them later. Collect information from the police officers who respond to the accident, including their names, their badge numbers, their contact information and the police report number so you or your attorney can use it as evidence. Also write down as much information as you can about the other driver involved, including his or her name, address, phone numbers, email addresses, license numbers, insurance company information and the make, model and year of the car involved.

Notify your insurance company.

It’s important that you inform your insurance company within 24 hours of the accident, even if the accident was not your fault. The insurance company of the at-fault driver might be slow to settle, so you may want to use your own collision coverage to make repairs. Your insurance company can then seek reimbursement from the other driver’s company.

Call an attorney.

In the event of a serious accident, it’s important to have an advocate who understands the complexity of the legal process and won’t let an insurance company underpay you for your car repairs and medical bills, especially if your injuries are serious. Insurance companies want to make money, not spend it, and in the aftermath of an accident, you’re vulnerable to an insurance agent who will make the smallest possible offer. An attorney will protect you and make sure that you will be fairly compensated, including for medical bills that may not be immediate, such as physical therapy.

Keep a diary of your medical records.

It’s vital to document your medical treatment if you are injured in a crash. Keep records of your appointments, bills for appointments, therapy, treatment and medications and chart your recovery process in journal entries so you can share your history in depositions or in court.

Additionally, it’s important to watch what you say initially after the accident. Do not apologize, especially if the accident was not your fault. Anything you say can be later used against you, and could leave you on the hook for your medical bills and other expenses.

Contact a Florida Car Accident Attorney

Protecting yourself after a car accident is important, especially if you are dealing with injuries that could lead to large medical bills. Having an experienced attorney at your side can prevent an insurance company from encouraging you to settle for less than you’re owed, so you can pay your bills without worry. If you’ve been in a car accident, call Ricardo Rodriguez at Rodriguez Law at (305) 262-8226 .

Understanding the Due Diligence Period in a Real Estate Sale

Wed, 19 Dec 2018 21:22:26 GMT

Let’s say you fall in love with a house at first sight. You’ve gone past crush, and this is love, which can come with all the potential pain of a human love story.

Because just like in love, a background check of sorts – at least asking someone who knows – is an important way to get to know if the date, or the house, is worth pursuing, or if you will find out something you really didn’t want to know.

That background check in home buying is due diligence, and it is the period of time immediately after the purchase offer is accepted and a sale contract to buy the house goes into play.

What is due diligence?

For a buyer, the period of due diligence gives a buyer a chance to get to better know the neighborhood and determine if they are a good fit (are the schools a match, do you enjoy the shopping, are there enough walking/biking trails, etc.).

Inspections will happen during due diligence – something buyers should be aware of – and if anything questionable is found, the seller may want to negotiate a different price to pay for whatever defect was uncovered upon deeper inspection.

There are always risk factors that accompany the purchase of big-ticket items such as homes, but due diligence can eliminate at least some of the potential surprises.

The best due diligence

There are a few tips that can make the time spent after making the offer less stressful.

Do due diligence prior to putting in an offer. If you like a house, do as much research as you can before putting in an offer. This not only makes surprises less likely, it also helps avoid the disappointment of finding a dream house, only to learn that mold could prevent you from buying the home.

Know the market. Check to see what similar homes in the area are selling for so you’ll make a fair offer and you won’t be paying more than the market supports.
Make sure that your financing is not only approved, but approved for the best price possible. You don’t want to be paying on your dream home forever. Eventually, even dream homes can become nightmares when the mortgage never seems to go away.
Make sure you can afford it. If it is an investment property, be certain that the income that will be coming in from the property covers the costs; if it is your personal property, make sure too much of your income isn’t going to living expenses.

Go to the inspection. Knowing first-hand what needs fixing on your new property will make it easier to line up contractors and add up supplies at your local do-it-yourself store. Getting estimates before closing will let you be certain that your purchase is affordable.
Can you get insurance? Make sure that you don’t live in an area prone to fires, hurricanes, or other natural disasters that could prevent you from getting an affordable policy.
Is the HOA reasonable? Get to know someone from the homeowner’s association so that you can determine whether or not your HOA is one that will be worth the proposed expenses or not.
Records. Make sure that the title insurance is clear and that the land has been plotted out without any signs of potential problems. Neighbors won’t be fun anymore if a small parcel of land becomes something worth arguing about.

Contact a Florida Real Estate Fraud Attorney

A Florida real estate attorney can help you do your due diligence so that your dream home never becomes your nightmare. If you’re in the market for a new home, call Ricardo Rodriguez at Rodriguez Law at (305) 262-8226 .

10 Examples of Real Estate Agent or Broker Fraud

Tue, 20 Nov 2018 13:21:08 GMT

When the housing market crashed in 2008, real estate fraud became a hot button issue with many assigning blame for the economic crash on fragile mortgage deals that forced the housing bubble to burst.

For real estate agents or brokers, today’s real estate outlook is improving, but there is still the opportunity to unintentionally commit fraud while closing a real estate deal due to complicated laws that often side with buyers.

Some potential real estate or broker fraud cases that could result in charges include:

Breach of duty claims that arise due to fiduciary duty, which requires a real estate agent to act in his or her clients’ best interests, even if that means negotiating a lower fee than expected.
Knowingly failing to reveal that the square footage of the home being sold is not the same as what was stated on the listing;
Failing to reveal an interior wall leak, which could result in mold problems.
Failure to disclose that mold exists on the property.
Failure to reveal cracks in a home’s foundation that have been hidden or patched.
Failure to reveal that the property purchased by the buyer is subject to environmental regulations, rezoning, or other laws that could prevent the buyer from using the real estate as intended.
Assisting a buyer in misrepresenting his or her credit reports, salary, or employment history in order to qualify for a home loan.
Mortgage fraud, which according to the U.S. Internal Revenue Service is the preparation of two separate sets of mortgage documents – one for the seller, reflecting the accurate price of the property, and one for the lender, with an elevated selling price. After the funds are provided, the extra is divided between the co-conspirators, usually the real estate agent who prepared the paperwork and the buyer who receives the funds.
Constructive fraud, which happens when a real estate agent gains an unfair financial advantage using deceitful methods, with or without intent.
Foreclosure rescue scams are common examples of real estate fraud, and they were rampant after the housing crash. Homeowners desperate to save their home became victims of scams including:

Title fraud, when investors offer a “temporary title transfer,” claiming the owner can lease the home with the intent of buying it back at a later date, only to find that the home’s been sold and the homeowner is still sitting on the original mortgage;
Equity stripping, which involves the homeowner giving up ownership of the house but continuing to pay rent that they believe is going toward the mortgage, but is instead being pocketed by the investors;
Renegotiating scams, during which the homeowner believes a company is negotiating on their behalf, but is in fact negotiating with the lender to buy the home at a lower price.

Because the consequences of real estate fraud can be costly, it’s important to go over paperwork in order to protect your interests. If convicted, a defendant could be forced to pay damages related to the fraud, including lost property value, pain and suffering, medical expenses related to exposure of unreported mold, closing costs, and lost profits.

There is also the risk of federal prison time due to zealous attorneys who are aggressively prosecuting suspected mortgage and real estate fraud cases to prevent another financial crisis.

Contact a Florida Real Estate Fraud Attorney

Preventing real estate fraud is vital in today’s new housing climate, but having an experienced attorney as part of the sales process can prevent a costly mistake. If you do face charges, a Florida real estate fraud attorney can help you defend yourself against fraud claims. Call Ricardo Rodriguez at Rodriguez Law at (305) 262-8226 .

Real Estate Law 101: The Short Sale

Fri, 19 Oct 2018 20:49:33 GMT

A short sale is the process of selling a house for less than the value of the remaining mortgage balance on it. To illustrate how it works, let’s look at a hypothetical situation.

You borrowed $350,000 to buy your home five years ago after it was appraised at that amount. You lost your job a few months ago and fell behind on your mortgage payments, making you wonder if you’re better off selling to eliminate the financial burden. However, a comparative market analysis shows that your home is now worth $290,000, and you still have $320,000 left on the original loan.

If you’re still intent on selling, you can ask the lender for permission to put the property on the market for $290,000. If they agree, they will receive less than what you originally borrowed, but still consider the debt repaid in most cases. This is because the short sale allowed them to avoid the time-consuming and stressful process of foreclosure.

The Short Sale Process

Once the decision is made to proceed with a short sale, the next step is to find a realtor who will place the home on the local MLS to find a buyer. You will sign a listing agreement with the realtor, but its terms are contingent upon the bank approving a short sale. If you provide written authorization, your realtor can speak with the lender on your behalf and determine what will be required for the sale to be approved.

You will need to have the following documents ready for the lender’s consideration:

Hardship letter explaining why you have encountered financial difficulties and how they are preventing you from making your mortgage payments
A financial form that summarizes your financial situation. You can get a form letter from your lender’s loss mitigation department.
Proof of income, such as pay stubs, tax returns, and bank statements.
List of assets in your name.

Once you secure a contract, the next step is to send it to the lender for review, along with a preliminary settlement statement and the documents above. If you are deemed eligible for a short sale, an appraisal will be ordered to determine the value of your home.

If your lender decides to accept the short sale offer, they will issue a “Demand Letter” that outlines the terms of the transaction, which hopefully includes releasing the mortgage lien and agreeing to not pursue you for a deficiency judgment. Short sale approvals typically last 30-45 days, which is why a cash offer is the ideal scenario, although many lenders will extend the demand letter if it looks like the deal will close.

How an Attorney Can Help

Homeowners who are thinking about selling their property in a short sale should also hire an attorney to guide them through the transaction. An attorney can support your realtor, give you legal advice as the sale progresses, and assist you with the following services:

Interpreting the short sale agreement: Sales documents for short sales can have distinct legal terms that someone without a legal background may misinterpret or fail to understand.
Dealing with a deficiency judgment: Florida is a “recourse state” that allows lenders to seek deficiency judgments for unpaid debts. If your bank tries to make you pay the difference between the sale price and the mortgage balance, your attorney can help you negotiate a deficiency waiver, settle the deficiency, or file bankruptcy to deal with the judgment.
Advice if the lender forecloses: If there are no buyers or the short sale falls through, the lender may take steps to foreclose on the property. Your attorney can advise you on the best way to proceed given your circumstances.

Contact a Florida Short Sale Attorney

Getting a short sale approved and closed requires an in-depth understanding of the process itself, what lenders expect, and what borrowers need to do. An experienced short sale attorney can provide you with those answers, so for help you can trust, contact Ricardo Rodriguez at Rodriguez Law at (305) 262-8226 .

An Overview of Chapter 13 Bankruptcy

Thu, 20 Sep 2018 13:26:28 GMT

Chapter 13 bankruptcy is also known as the “wage earner plan” because it allows people with a stable and substantial income to restructure their debts and repay them over time. If you owe no more than $1,184,200 in secured debt and $394,725 in unsecured debt, filing for Chapter 13 can enable you to regain financial stability while protecting your cherished assets from seizure.

The Advantages of Filing for Chapter 13

Most indebted consumers file for Chapter 7 because the time between filing and discharge is only a matter of months and they aren’t usually required to repay any of their unsecured debt like credit cards and medical bills. Although Chapter 7 is a fast and straightforward form of debt relief, it’s not for everyone.

If you have a reliable income and/or own assets that could be seized to repay creditors in a liquidation bankruptcy, Chapter 13 allows you to repay a percentage of your debts over a three to five-year period, as well as catch up on secured or nondischargeable obligations such as:

Student loans
Income taxes
Child support and alimony
Mortgages and car loans

Other advantages include:

You retain all personal property, including assets that you might have been required to surrender in a Chapter 7 case.
If any of your debts have co-signers, they are protected from creditor collection actions
If your car loan is over 2.5 years old, you can establish new payment terms
You may be able to stay in your home if a foreclosure had been in progress

Although businesses cannot file Chapter 13, self-employed individuals can (provided that they have not incorporated), giving them the opportunity to reorganize and repay their personal AND business debts.

How the Repayment Plan Works

Under a Chapter 13 bankruptcy, you repay your creditors over three to five years. If your income is below the state median for your household size, you will probably be approved for a three-year repayment. Most filers choose the five-year schedule because the payments will be lower and therefore more sustainable.

When you and your bankruptcy attorney propose a plan, the trustee and your creditors will be given the opportunity to object to it and request changes. If there are no objections or all changes have been made to everyone’s satisfaction, the bankruptcy court will likely approve your plan if it is sustainable, meaning that you can afford the monthly repayments.

After the plan is approved, you make a single monthly payment to your bankruptcy trustee, who distributes the money to your creditors in order of priority. The amount is determined by factors such as:

Your income
The amount of debt that you owe
The type of debt
Your necessary monthly expenses

Priority debts include back taxes, child support, and spousal maintenance payments. If you have a home or car and want to keep both, you will have to repay any arrears, as well as continue making regular payments on the mortgage or car loan.

Receiving Your Discharge from Chapter 13

Once your repayment plan is complete, you will receive your discharge if you:

Completed the court-approved financial management course
Are current in your alimony and child support obligations
Have not received a Chapter 13 discharge in the past two years
Have not received a Chapter 7,11, or 12 discharge in the past four years

If you have fulfilled all your obligations, any outstanding balance on dischargeable debts like credit cards or utility bills is eliminated, leaving you with a clean slate and the opportunity to rebuild financially.

If you are considering Chapter 13 as a solution to your debt concerns, contact Rodriguez Law at (305) 262-8226 . We will gladly meet with you, review your financial situation, and guide you through the best debt relief solution for your case.

Bankruptcy 101: An Introduction to Chapter 7 Bankruptcy

Sun, 19 Aug 2018 20:39:24 GMT

There are several types of bankruptcy available to individuals and businesses. Chapter 7 bankruptcy is the most common path for both individuals and businesses, although it is typically used by individuals. With Chapter 7 bankruptcy, debts are reduced and erased by taking inventory of your property and, with a few exceptions, selling it and giving the profits to your creditors. Of course, you can keep vital property such as your vehicle and a least a portion of the equity in your home.

Once you have completed the liquidation process, you will usually receive a discharge of all of the debts that you cannot afford to pay. That is, if selling your property is not enough to pay off a creditor, then that remaining debt will just be forgiven.

Apart from this vital information, some additional common questions that individuals who are considering filing Chapter 7 bankruptcy may have are answered below.

What Are the Advantages of Chapter 7 Bankruptcy?

Chapter 7 bankruptcy has the fastest and easiest process compared to the other types of bankruptcy. Most individuals can complete the bankruptcy process within just a few months. Different types of bankruptcy can take years.

Although the liquidation is somewhat daunting, many people prefer how fast and easy Chapter 7 is. You can discharge most of your debts within just a few months and move on with your life. Most Chapter 7 cases will be successful as well. In fact, nearly 95.5% of those who file Chapter 7 bankruptcy will have at least some of their debts discharged successfully.

Who Qualifies for Chapter 7 Bankruptcy?

The default for individuals is to file Chapter 13 bankruptcy. Under Chapter 13, you will create a payment plan that will provide payments to your creditors over the course of the next several years. Plans can be up to five years long. To avoid having a payment plan, you must qualify for Chapter 7 bankruptcy. You do this by going through the “means test.”

By using the “means test,” you will determine if your income is low enough to file Chapter 7 bankruptcy. It is designed to keep high-wage earners from using Chapter 7 and forcing them to enter a payment plan under Chapter 13 instead.

First, you must determine whether your income is higher than the median income level in Florida based on the number of people in your household. As of January 2018 , for example, the median income level for one person in Florida was $46,677. For a family of four people, it was $74,512. If your income is below these levels, then there is no need to go any further in the calculation—you will qualify to use Chapter 7 bankruptcy in Florida.

You can still qualify to use Chapter 7 bankruptcy if your income is above the median level, but the calculation becomes more complicated. Rodriguez Law can help you determine if Chapter 7 bankruptcy is the right option for you and whether you qualify. Learn more by contacting our team at (305) 262-8226 .

Understanding the Difference Between Contested and Uncontested Divorce

Thu, 19 Jul 2018 20:31:38 GMT

You may have heard that all divorces are ugly and high conflict or that they take a very long time and are extremely expensive. However, many divorces actually occur because both members of the couple decide that it is time to separate for a variety of reasons. Even when the couple agrees to separate, they also have to work through all of the decisions that come along with a divorce, including property division, child custody and support issues, and alimony.

In some cases, the couple can agree to all of these things, which makes the entire process run much more smoothly. Your divorce can be much faster as well because you can use an uncontested divorce process instead of having to go through a contested divorce.

What is an Uncontested Divorce?

In an uncontested divorce, the couple has already worked out all of the details of the divorce. It’s not enough that you have worked out some issues, but everything must be agreed upon before you file for divorce. You don’t have to make these agreements alone, however. You can use the services of a third party or mediator, or you can work things out by using your attorney to negotiate with your spouse.

In many situations, an attorney can be very helpful to work out the few details that you cannot seem to agree upon with your spouse. That way, you can file an uncontested divorce even if you cannot hammer out specifics yourself.

When you file your uncontested divorce, a judge will simply review the documents that your attorney has prepared and approve them. Uncontested divorces can be completed in just a few weeks once they are filed. They can cost thousands of dollars less than having to go through a contested divorce.

What is a Contested Divorce?

If you have even one detail about the divorce that you cannot agree upon, then your divorce is considered contested. You can still go through mediation or have an agreement on your own after you file, but a contested divorce may ultimately need to go to trial before a judge. The judge will then resolve your dispute in a way that he or she thinks is fair. You have far less control over the ultimate result of divorce when you put the issues in a judge’s hands.

There are situations where you can tell the judge that you agree on some things and not others so that any hearing or trial will focus on just a few issues. Narrowing the issues at trial can save you time and money overall.

Contested divorces can take a very long time. They can take months or even years in high-conflict divorces. They are also often very expensive as well.

Getting Help with Your Divorce

Whether you think you can work out the details or you know everything will be a challenge, an experienced Florida divorce attorney can be a great resource. Call Rodriguez Law, P.L. to discuss your options if you are considering divorce. Schedule your free consultation by calling (305) 262-8226 .

Injured in a Slip-and-Fall? 4 Steps on What to Do Next

Tue, 19 Jun 2018 20:24:02 GMT

If you take a tumble on someone else’s property, you may have a legal claim under Florida premises liability laws. However, to preserve this claim, it is crucial that you take specific steps to gather evidence and information after your fall.

If you were not able to take these steps, don’t worry— your personal injury attorney can help you get evidence after the fact. Nonetheless, getting as much information as you can shortly after the fall can be extremely helpful for your case.

1. Seek Medical Attention if Necessary.

Regardless of whether your legal claim will go forward, you should always think about your health and safety first. If you need medical care, you should get it immediately. Falls can sometimes be even more serious than you might initially think, so seeing a medical professional is a good idea even if you don’t believe your fall is severe. Head injuries and internal injuries are relatively common after a fall. You should not risk your health!

2. Inspect the Area Where You Fell.

Sometimes it is hard to determine what actually caused your fall. In many cases, you likely did not see the cause (otherwise you would have avoided it). As a result, it is a good idea to look back to determine what you may have tripped or slipped on. Look for things like:

Substances on the floor
Loose carpeting or flooring
Uneven concrete or other surfaces
Puddles of water or ice

When you can, write down everything you recall about the fall, including what you determined actually caused the incident.

3. Report the Fall to the Property Owner, Management, or an Employee.

In many situations, an employee or manager will see that you have fallen, and they may even offer emergency aid. In those cases, you may think that you do not need to make a formal complaint because the employee will have first-hand knowledge of the event. However, ensuring that the property owner or an employee has written down all of the information you gave them about the fall can be very helpful later. If possible, review their recitation of the events to ensure that they took down all of the vital information. Correct any information that might have been recorded incorrectly.

If you cannot report the incident right away after it occurs, be sure to send a notification to the property owner at a later time. If there is a specific report that they must use, request a copy of the report for your records as well.

4. Talk to a Florida Slip and Fall Attorney.

Getting started with your potential legal claim right away can significantly increase your chances of financial recovery after a fall. Call Rodriguez Law, P.L. to schedule a free case evaluation today at (305) 262-8226 .

4 Signs of Nursing Home Abuse

Sat, 19 May 2018 20:10:55 GMT

Nursing home abuse occurs far more frequently than you might think. In fact, over two million cases of elder abuse are reported every year. Nearly one in ten elderly persons will experience some form of elder abuse in their lifetime.

Unfortunately, elder abuse is also notoriously underreported. That means that it may occur even more frequently than we know. One of the best ways to report and prevent elder abuse is to look for signs in your loved one of abuse.

Below are a few signs that you should watch for that may signal abuse. While they may also be indications of other conditions or problems that may warrant additional investigation regarding potential abuse.

1. Emotional Changes

If your loved one is being abused in a nursing home, whether it is physical or verbal, he or she may show signs of emotional trauma. This may include feelings of agitation or becoming upset easily. He or she may also become withdrawn, noncommunicative, or may not want to interact with you physically. If your loved one used to give you a hug every time you stopped by, but now has no interest in hugging you, that could be a sign of a bigger problem.

2. Unexplained Injuries, Bruising, or Falls

Loved ones who are physically abused may show signs of abuse through bruising, abrasions, or sprains or strains. Ask your loved one how they got this particular injury. If they do not want to tell you about it or they have an odd response, ask more questions. Your loved one may be too embarrassed or proud to admit what really happened. While accidents happen, patterns of injuries could be a sign of physical abuse.

3. Unwillingness to Speak or Interact with You Around a Caretaker

If physical or mental abuse is taking place, your loved one may be afraid to be around their caretaker. They may not want to say or do anything in their presence. They may act visibly scared, nervous, or uncomfortable around an abusive caretaker as well.

4. The Caretaker is Unwilling to Leave or Unwilling to Schedule Unplanned Visits

The staff’s actions at a nursing home can also indicate whether there is a problem. If they do not let you see your loved one without calling ahead or they refuse to leave the room when you visit, that could be a sign that they do not want your loved one talking about abuse or neglect. They may not like unplanned visits because they have no time to cover up or deal with tell-tale signs of abuse or neglect as well.

You shouldn’t take your loved one’s complaints about a nursing home lightly. Listen to your loved one if he or she reports abuse to you—even if you think such an accusation may be unfounded. Do some extra digging. You owe it to your loved one.

You can also call Rodriguez Law, P.L. We can do some investigation for you and discuss your loved one’s potential legal options with you. One of those options may be to assert a personal injury claim. Give us a call at (305) 262-8226 to learn more.

4 Reasons Why You Need an Irrevocable Trust

Thu, 19 Apr 2018 20:07:20 GMT

When working through your estate planning, you’ll inevitably be faced with the decision of establishing either a revocable or an irrevocable trust. Though they are similar in benefit to one another, a revocable trust allows you to make changes once the trust is established, while an irrevocable trust cannot be altered.

So why would anyone want to establish a trust that can’t be changed? Believe it or not, irrevocable trusts have benefits that can outweigh the permanent nature of the trust, and they are frequently utilized in order to receive benefits for some of the following items:

Taxes

Irrevocable trust owners reap huge tax benefits, both on a personal level as well as on their estate taxes. Assets placed in an irrevocable trust are not subject to estate taxes, which can lead to protection from the probate process. This means your beneficiaries will get closer to the amount that you intended to give to them in the first place because fees and costs have not eaten away at it. In addition, estates with higher values are taxed at a higher rate, so placing assets in your irrevocable trust decreases the overall estate value, thus saving taxable money in the long run.

On a personal level, placing assets in an irrevocable trust separates them from your reported income, which could place you in a lower tax bracket.

Medicare

Because qualifying for Medicare is based on income, placing assets and funds into an irrevocable trust disqualifies them from being included in any assets used to establish qualification. Many find that this is a helpful way to qualify for Medicare help when it is most needed.

Life insurance

You can name your trust as the beneficiary of your life insurance plan. By doing this your life insurance is paid to the trust and is not included in your assets when you pass away, thus reducing the amount of your estate, and any applicable estate taxes.

Access to assets

You can pay yourself from your trust! With a little clever wording you can set up your trust so that your assets are “property” of the trust, but that your trust can also pay you on any income it generates.

Don’t move forward with creating your trust until you’ve consulted with a Florida estate planning attorney.

As with all estate planning preparation, it is in your and your heirs’ best interests to you consult with an attorney experienced in Florida estate planning and trusts. At Rodriguez Law, P.L., our dependable team can assist you in creating or making changes to any estate planning documents. We can also offer guidance and advice unique to your individual circumstances, and prepare the perfect plan for your needs. Contact us here or give us a call at (305) 262-8226 . We’re here to help you!

4 Tips on How to Successfully Obtain a Mortgage Modification

Mon, 19 Mar 2018 19:52:03 GMT

Sometimes things happen that are out of our control, like getting hit with an unexpected medical bill or losing your job. If you’ve ever been in this position, you know that it can drastically affect all aspects of your life, including threatening your ability to keep your home. If you’re a homeowner struggling to pay your mortgage and to avoid foreclosure, you’re probably starting to feel stressed and worried about the future. But, even though you are going through a difficult time, it’s important to remember that you have options available. One of the options you have is called a mortgage (or loan) modification.

A mortgage modification can help save your home. It is the process by which your lender agrees to lower your monthly mortgage payment—but as simple as it sounds, getting the lender to approve it can actually be a tricky process. So, what are some of the best ways to go about getting approved? How can you better your chances? Here we discuss some of our best tips on how to successfully obtain a mortgage modification.

1. Work with professionals

When applying for a mortgage modification, it’s important to make sure you have all of your bases covered by professionals. Here at Rodriguez Law, we can assist you in maximizing your chances of getting the modification approved.

Missing an important piece of paperwork or submitting your application before it’s ready can cause it to get denied or delayed, and leave you feeling stranded in the dark. That’s why it’s always a good idea to make sure you are working with a professional to help guide you through the process and ensure that your interests are properly represented.

2. Maintain a papertrail

Keeping track of every last document will help ensure that you can properly fill out your application in order to help your lender determine whether or not you qualify for a modification. Making sure you have a full record of all correspondence will also help in the process because lenders can take a long time to get back to you. If you have everything together, then you can regularly follow up with all of your documents without the risk of the lender losing something key to your application.

3. Keep your credit score up

Although you are applying for a mortgage modification because you have fallen on hard times, it is still very important to make sure you keep your credit score rating as high as possible because it will impact whether you are approved for the modification or not. Make sure you check your score and re-evaluate what might be bringing it down.

4. Focus on your hardship letter

During the modification process, it’s common for lenders to request applicants to submit a hardship letter. A hardship letter explains why you are applying for, and need, the modification to your mortgage. This document is key to getting your loan modification approved, so it’s important to make sure you spend time on it and include every hardship that led to your current struggles. Make sure to proofread the letter and consult with us about the effectiveness of your letter.

Speak with an experienced real estate attorney.

At Rodriguez Law, we understand how confusing and stressful the mortgage modification process can be. That’s why we make it our goal to work with our clients to find the best solutions and achieve the most positive outcomes possible. If you are a Florida homeowner and are struggling to pay your mortgage, please don’t hesitate to contact us at (305) 262-8226 or visit https://trustrlpl.com/contact-us/ today to schedule a free initial consultation.

When is Chapter 11 Bankruptcy Available to Individuals?

Fri, 16 Feb 2018 13:30:03 GMT

At first glance, the concept of Chapter 11 bankruptcy for an individual debtor seems odd. This is because Chapter 11 is primarily filed by businesses that are making money but experiencing financial distress. These companies seek to improve their situation by restructuring secured debt and reducing unsecured obligations. However, it is also a form of debt relief that is available to individuals who make too much money for a Chapter 7 bankruptcy, but whose debt levels are too high for a Chapter 13.

How Does Chapter 11 Work?

A Chapter 11 bankruptcy is designed to help debtors and their creditors create a plan of reorganization that makes it easier for the former to satisfy the greater part of their financial obligations. Although businesses are the primary Chapter 11 filers, individuals who cannot qualify for Chapter 7 or 13 may use it to delay collection actions, stop wage garnishments and repossessions, and negotiate a manageable debt repayment schedule.

Once an individual files, their creditors are divided into classifications like the following:

Priority creditors
Administrative creditors
Secured creditors
Unsecured creditors

The reorganization plan proposes how the debts will be restructured, how much each creditor category will be paid each month, and the payment terms. The higher class of creditors, such as priority or administrative creditors, must be paid in full before everyone else gets their share. Most plans last an average of five years, but with court approval, they could be extended to 10 years.

Should You File Chapter 11?

As a rule, no one really files for Chapter 11 bankruptcy as a first choice. Not only is it a more challenging option to negotiate, it is also a lot more expensive because it takes more time for the bankruptcy attorney to put together the required paperwork. In addition to the attorney fees, a filer can expect to pay the following:

Filing fee of $1,717 (as of April 2017)
U.S. Trustee fees, which are $250 and up each quarter
Costs associated with preparing and mailing the plan of reorganization, disclosure statement, and voting ballots for creditors

Despite the added expense, Chapter 11 bankruptcy can give an individual debtor the financial fresh start they need if:

Their household median income exceeds the Florida threshold for Chapter 7 (and they subsequently fail the means test).
Their unsecured debt exceeds $394,725 and/or they owe more than $1,184,200 in secured debt, which are the limits for Chapter 13.
They need to extend their mortgage repayment period to more than five years, which is the Chapter 13 limit.
They want to reduce the creditor’s lien on a vehicle to its fair market value, but the car was financed within 910 days of their bankruptcy petition. While Chapter 13 disallows ‘cramming down’ under this circumstance, it is permitted under Chapter 11.
They received a Chapter 7 discharge within the past four years or a Chapter 13 discharge within two.

Please keep in mind that the income-related maximums mentioned above are currently accurate, but subject to change in the future.

To discuss the possibility of filing Chapter 11 to receive the debt relief you are seeing, call Rodriguez Law, P.L. at (305) 262-8226 or contact us through our website. We can help you stop creditor harassment, eliminate most debts, and repay others at a rate you can afford.