South Florida Bankruptcy Lawyer

Legislation designed to help hundreds of thousands of people who are facing foreclosure is on track to go to the White House by July 4th.

The legislation creates a $300 billion federal mortgage insurance fund that could save, potentially, 500,000 borrowers from foreclosure. The fund would require that participating lenders erase some of the original loan amount in order to receive funds from the federal fund.

Congress is currently trying to prevent 1.4 million homes from going through foreclosure. A large number of these homeowners are affected by falling home values and mortgages fail to have payments made on them.

If you are considering filing for bankruptcy, contact the Boca Raton bankruptcy lawyers of Klein Attorneys at 561-353-2500 to discuss your situations to determine your options.