Blog

What is the Effect of a PACE Loan on a Real Estate Closing?

• May 30, 2022
• Thomas Adam
• Real Estate

A Property Assessed Clean Energy (PACE) loan is a type of non-traditional loan that allows homeowners to finance energy-efficiency and renewable-energy projects. The loans are usually repaid through property taxes, so the homeowner does not have to worry about making separate monthly payments. PACE loans are available in many states, including here in Florida, and they can be used to finance a wide range of projects, including solar panels, wind turbines, and energy-efficiency upgrades. These[...]

Does Bankruptcy in Florida Clear Out Tax Debt?

• May 15, 2022
• Thomas Adam
• Bankruptcy

In the United States, personal bankruptcy is a legal process that allows individuals to clear out their financial debts and start fresh. This means that any debts that may be owed could be automatically eliminated by the court system. However, before you make any decisions, it is important to know whether your tax debts will be cleared out by the bankruptcy process. In some cases, tax debts are discharged in a Florida bankruptcy. However, this is not always the case, and there are certain fa[...]

Don’t Panic: How to Sell Your Home While Trying to Buy Another

• April 30, 2022
• Thomas Adam
• Real Estate

As a general rule, the process of purchasing a property can be challenging. What if you are attempting to sell your current house while also trying to buy a new one? If you have a strategy and know what you are doing, you can accomplish your goal. The key to success is to assemble a team of experts, including a real estate agent, and an attorney, to assist you in achieving your goals. They will help guide you through the process and make sure that everything goes as smoothly as possible. They[...]

Should Paying Back Debts From Family and Friends Be on Your To-Do List Before Declaring Bankruptcy?

• April 15, 2022
• Thomas Adam
• Bankruptcy

When faced with financial difficulties, many people turn to their friends and family members first. Of course, it is easier to borrow money from family and friends than it is to get a loan from a bank or credit union. What happens if what they provide you is not enough to alleviate your financial difficulties? What you need to know is as follows: Debts owed to family members are lawful. However, if you file for bankruptcy, they will not take precedence over any other debt obligations you[...]

Do Medical Bills Qualify for Bankruptcy?

• December 29, 2021
• Thomas Adam
• Bankruptcy

If you or a loved one has received a heartbreaking medical diagnosis, been injured in a car accident, or wound up in the hospital after a serious illness, you may be wondering, “Do medical bills qualify for bankruptcy?” The answer is typically “yes.” Medical bills account for 40% of bankruptcies, according to the National Institutes of Health (NIH). An estimated 530,000 families file bankruptcy annually for issues related to medical bills and/or lost wages due to illness or injury. [...]

How Do I Get Out of Payday Loan Debt?

• November 16, 2021
• Thomas Adam
• Bankruptcy

Payday loans are often the loans of last resort for people struggling to pay their debts and for life’s necessities, so if you have one of these loans, you may wonder, how do I get out of payday loan debt? If that’s your situation, other than paying off the debt, there are limited options that may allow you to change when and how much you pay back. If this debt is one of many dragging you down, you should consider filing for bankruptcy protection to give yourself a fresh financial start. [...]

Florida Chapter 7 Means Test Calculator – Do I Have Too Much Money to Use Chapter 7?

• September 17, 2021
• Thomas Adam
• Bankruptcy

Congress changed our bankruptcy laws in 2005, making it harder for those with higher incomes to file for Chapter 7 bankruptcy. The intent was to force this group into a Chapter 13 bankruptcy, to at least partially pay their debts. The Chapter 7 means test for Florida is a formula determining whether you should get debt relief under Chapter 7. It looks at your income and many other factors to see if you’re able to pay your debts. There’s no shame in declaring bankruptcy. It’s a legitima[...]

Can I file bankruptcy without my spouse?

• June 29, 2021
• Thomas Adam
• Bankruptcy

A person can file bankruptcy without their spouse. Whether or not this is a good choice depends on the laws in your state and the individual circumstances in your case. Florida is a “common law” state (as opposed to a “community property” state). In a common law state like Florida, debts that you and your spouse co-sign for result in your sharing these debts jointly. With few exceptions, debt taken on individually by one spouse generally remains that spouse’s responsibility alone. [...]

Can I keep my house if I file bankruptcy?

• May 24, 2021
• Thomas Adam
• Bankruptcy

Sometimes when credit card and mortgage debts become overwhelming, a person can feel panicked. Lots of questions swirl through your mind like “How do I stop these creditors from calling me?” and “Can I keep my house if I file for bankruptcy?” It can be a struggle every month just to make minimum payments, and you may be tempted to let unopened bills pile up on the kitchen table. If this describes your situation, there is an option for a better future. Bankruptcy can be a chance to [...]

Five Reasons Why a Pandemic Might be a Great Time to Sell Property

• August 10, 2020
• Thomas Adam
• Real Estate

Realtors have faced countless challenges this year. Besides the pandemic, a weakened economy, and massive layoffs, many people have decided to put selling their home on pause for the year. While these challenges are certainly formidable, realtors should appreciate that this summer might actually be one of the best times in years to sell a property. In the hopes of giving realtors renewed vigor in approaching clients, this article reviews some silver linings of the current real estate market. [...]