HELOCs payments increase be prepared

Are you in for a payment shock? Are you prepared for your monthly HELOC loan payment to increase, possibly double or triple? Be proactive, work with us early. Let us help you create solutions to allow you to have the disposable income you need to pay for your necessities and the inevitable increase in your HELOC payment.

Summary:
In 2003 – 2004 many of us used the equity in our homes to open lines of credit with our lending institutions called HELOCs. HELOCS, or home-equity lines of credit, allow borrowers to withdraw equity from their homes to spend on renovations, consolidate debt or pay for other expenses such as everyday necessities. These HELOCS often stipulate a 10-year draw period during which time the borrower is allowed to make interest only payments. After this period of time, the payment jumps to include principal plus interest. Many borrowers are unprepared financially to cover the increase in the payment.
Borrowers that were once able to make $300.00 to $400.00 a month payments are now struggling to pay $600.00 – $800.00 upwards of $1000.00 per month. What was once disposable income in now being used to pay the increased loan amount, and worse yet, many borrowers are falling behind.
Bankruptcy Attorney Heath Berger, with Offices in Suffolk and Nassau County can help you create solutions to your debt issue. Don’t wait, plan ahead.

suffolk county nassau county real estate bankruptcy

5-3-14 Segment 1
Bankruptcy Attorney Heath Berger and Real Estate professional Ray Manzoni team up to discuss how to protect the equity in your home. Learn the importance of planning early, when you want to sell your house.
Bankruptcy Attorney Heath Berger, is a Suffolk County Bankruptcy Attorney and Nassau County Bankruptcy Attorney, with offices across Long Island.

5-3-14 Segment 2
Can you sell your house if you filed for bankruptcy? Join Bankruptcy Attorney Heath Berger and Real Estate professional Ray Manzoni as they discuss the how to maximize what you have and get fide of debt when building a fresh start.
Bankruptcy Attorney Heath Berger, is a Suffolk County Bankruptcy Attorney and Nassau County Bankruptcy Attorney, with offices across Long Island.

Choosing A Bankruptcy Attorney

May 8th

Radio Show Summary:

It is very important when considering filing for bankruptcy to consult an experienced bankruptcy lawyer. I recently attended a bankruptcy seminar with Judges and Lawyers during which various bankruptcy cases were discussed.

Bankruptcy lawyers need to be current with the changes in case law. Inexperienced lawyers can turn routine cases into more complicated ones causing people to lose their homes, cars, bank accounts etc.

Bankruptcy Judges requests that debtors hire experienced bankruptcy lawyers which will reduce the burden on the judicial system while benefiting the consumer by keeping attorney fees reasonable.

Questions you should ask a bankruptcy attorney:
1) How many cases do you handle a month?
2) How many bankruptcy petitions have you filed?

May 8th, Part 2

A client needs a bankruptcy lawyer who understands the process and knows how to deal with the U.S. Trustee office. In 2005 Congress amended the code, which intended to push more debtors into chapter 13 in lieu of Chapter 7.   At Berger, Fischoff & Shumer, LLP, we know the system.  We have been very successful in qualifying our clients for chapter 7 bankruptcy.

Remember, financial issues are just bumps in the road. If you have financial concerns come in and discuss them with us. We can help resolve your issues so that you can sleep at night.

Suffolk County Bankruptcy Attorney 341 Meeting

Learn about the mandatory 341 meeting

1-31-15 segment 1

1-31-15 segment 2

Summary and highlights:

The 341 meeting, The First Meeting Of Creditors Segment 1

Nassau and Suffolk County Bankruptcy Attorney Heath S. Berger is one of the most widely known and respected bankruptcy attorneys on Long Island. Mr. Berger and bankruptcy attorney Brian Schechter discuss the importance of preparation for your 341 meeting.
During the first audio you will learn what to bring to your 341 meeting, how long your 341 meeting will take, and the types of questions you will be asked. If you own a home we will ask the following questions to get you the best possible outcome. What is the value of the house? What is the equity above the mortgage amount? Are you up to date on the mortgage payments? How much total mortgage debt do you have? Listen for more information.

The 341 meeting, The First Meeting Of Creditors Segment 2

During the second audio you will learn that preparation is the key to a successful meeting. Below are some of the highlights of the audio. Listen for more information.

The bankruptcy attorneys at Berger, Fischoff & Shumer, LLP. Our bankruptcy team will prepare you and your paperwork for your 341 meeting. Our experience has prepared us to know what the Court Trustees will ask for. Some paperwork may need to be sent in ahead of time and other times, paperwork needs to be presented at the meeting. Our Nassau County Bankruptcy clients and Suffolk County Bankruptcy clients are always well prepared. Since they are well prepared, our clients are seen in a better light than those that may not prepared by their attorneys, or those who inadequately prepare themselves. If you don’t have these items for your meeting typically yields negative results. The more we provide, and the more we can provide to the trustee, the easier the process will go.

Ninety-nine point nine percent of the time our clients leaves their 341 meeting with a sense of relief. We don’t want our clients to worry about the process. There should be no surprises, we advise our clients on what the issues and what the questions will be during the meeting. Have discharged over 25,000 bankruptcies we can tell our clients with confidence that your 341 meeting is meant to be a simple process, to clarify some things, and then the process is over. We advise our clients “don’t sweat it.”

Hiring A Bankruptcy Specialist

 

Bankruptcy Attorney Heath Berger with offices in Nassau County and Suffolk County explains the complexity of a bankruptcy case. Speaking to the right attorney is important because mistakes can cost you money, and keep you from getting your discharge. The following topics are covered in this week’s radio show:

• Chapter 7 liquidation
• The impact of inheritance on filing for bankruptcy
• Estates and bankruptcy
• The bankruptcy process
• Preparing for your 341 meeting
• The importance of speaking with an attorney who specializes in bankruptcy
• Chapter 13 bankruptcy
• Real estate and bankruptcy
• Selling your property if you have a lien on it
• High income earners filing for bankruptcy
• Freeing up disposable income
• Timing your bankruptcy
• How to save money by filing for bankruptcy
• How filing for bankruptcy can help you put extra money away for retirement

Parenthood Denied by the Law After a Same-Sex Couple’s Breakup, a Custody Battle

Parenthood Denied by the Law After a Same-Sex Couple’s Breakup, a Custody Battle By JOHN LELAND SEPT. 12, 2014 New York Times Link to original article: http://www.nytimes.com/2014/09/14/nyregion/after-a-same-sex-couples-breakup-a-custody-battle.html?_r=0 The Marriage Equality Act, which New York State passed in June 2011, allowed Jann Paczkowski to marry her partner, Jamie, with the assurance that …

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Housing Market Crash and Deficiency Judgements

10-18-14 Segment 1
Bankruptcy Attorney Heath Berger discusses how the housing market crash has changed how lenders are treating deficiency judgments. Listen to why in some cases foreclosure is not the end but how debt collectors are calling to collect years after the foreclosure. Learn how the timing of your bankruptcy filing can protect you.
Bankruptcy Attorney Heath Berger, is a Suffolk County Bankruptcy Attorney and Nassau County Bankruptcy Attorney, with offices across Long Island.

10-18-14 Segment 2
Learn how not to be one of the thousands of Americans caught in post foreclosure hell. Learn when is the right time to file for bankruptcy when you know you want to walk away from your home. Learn how to avoid the banks coming after you not only for the mortgage but also the taxes and fees that are associated with the mortgage.
Bankruptcy Attorney Heath Berger, is a Suffolk County Bankruptcy Attorney and Nassau County Bankruptcy Attorney, with offices across Long Island.