Finally Some Potential Help for Lee County Homeowners Through the Bankruptcy Court
As you probably can tell from my previous posts, I am skeptical about the benefits of the new housing plan for Southwest Florida Residents. However, there may be real assistance on the horizon. The House of Representatives tonight passed meaningful legislation that may offer assistance to homeowners faced with high payments and low home values.
The legislation, that now faces scrutiny in the Senate, would allow borrowers to “cram down” their mortgage to reasonable payments and allow them to begin building equity in what is considered to be most people’s biggest asset. Individuals will be also be able to alleviate overwhelming debt that has resulted from using credit cards while trying to survive during these troubled economic times.
This post was submitted by David Lampley, Esq. attorney for The Dellutri Law Group, P.A. Currently, the firm has offices in Port Charlotte, Fort Myers, Naples and Sarasota. Mr. Lampley is currently serving as co-chair of the Lee County Foreclosure Relief Task Force. Mr. Lampley also writes for the firm's bankruptcy blog.
