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Boca Raton Bankruptcy Lawyers

Monthly Archives: August 2021

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What Is A Cramdown In Bankruptcy?

By Law Offices of Stephen Orchard |

Let’s say that you own a piece of property that is worth $500,000. The problem is that you owe $700,000 on the property, making it $200,000 upside down (or with negative equity of $200,000). Assuming that you don’t want to keep the property, you can surrender it, and although the property will be taken… Read More »

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When Will A Florida Court Consider Homestead Property To Be Abandoned?

By Law Offices of Stephen Orchard |

Florida has a strong bankruptcy exemption for homestead property. So long as property has been owned for a period of time before the bankruptcy is filed, and so long as the property is either less than ½ an acre, or 160 acres in designated rural areas, then it doesn’t matter how much equity you… Read More »

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