Re: Youssef v. Navient Solutions LLC, et al., Adv. Pro. No. 17-1085, in the U.S. Bankruptcy Court for the Eastern District of New York.
CLAIM SITE: NavientStudentLoanSettlement.com
Borrowers are eligible for free money under $16 million student debt settlement – but you need to file a valid Claim Form by November 20, 2023. There is no cost to do so.
Consolidation before December 31, 2023 will help some borrowers maximize benefits under the Account Adjustment. After the account adjustment, the qualifying PSLF payments made on loans later consolidated will be credited to the consolidation loan based on a weighted average of the qualifying payments on the underlying loans. This will also help you to have one start/end date for PSLF forgiveness.
Those with Perkins loans or FFEL loans should definitely consider December 31, 2023 their deadline to consolidate their loans to Direct in order for prior payments to now count toward PSLF as well as future payments. Remember, you can consolidate even one loan. Think of this as a kind of refi – to a different type of loan. Stay within the federal system – this is where all the forgiveness is occuring.
Please see our video on Double Consolidation if you have Parent Plus loans — this loophole may allow you to get into SAVE for a payment that is often MUCH LESS than the Income Contingent Plan (“ICR”). https://www.youtube.com/watch?v=9KX74O4OJ8s
Have student loans that are entering repayment? On hold with your servicer? For hours? Not quite sure what’s going on?
Your servicer is your debt collector — are you certain that whatever they are going to tell you, assuming you get through, is your best option to reduce or eliminate student loan debt? Try this test: call 3-4 times, see how many different answers you get…
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Lots of misinformation out there regarding student loans. If you are receiving a bill, it’s important to speak with an expert or advocate who is on your side — discuss your options, make a plan. You might save many thousands of dollars by doing this!
There are some important deadlines also for the IDR audit/recount, and Parent Plus loans in particular. You may want to consider opting out of the IDR audit if you have a long loan history with gaps between loans — you can combine them and get more credit through a consolidation, then opt back in. But consider a double consolidation if you have Parent Plus loans. If all of this makes no sense to you, then see us, or someone like us!
Channel 13 10/17/23 Following a three-year pause, student loan payments have resumed for thousands of Americans.
The new means test numbers came out:
It hasn’t changed much for Florida except – down 3k for family of 3 though. Very odd, but whatever.
New as of Nov 1: https://www.justice.gov/ust/eo/bapcpa/20231101/bci_data/median_income_table.htm.
In our efforts to help our former clients or new clients move ahead with their life, we offer tips to improve credit or benefit from new programs (with particular emphasis on those with prior financial burdens).
Today, I’d like to summarize some programs that may help to purchase a home even one day after a bankruptcy, short sale or foreclosure. We can also help you secure a knowledgeable Realtor to help in these areas.
What to expect if you cannot pay your mortgage – This timeline comes directly from the Department of Housing and Urban Development, in other words, HUD:
Once you get out of the habit of making a mortgage payment, it’s hard to get back to making that large payment every month. This is particularly true, with student loans also restarting payments now.
What do we do that can help solve this problem for you?
We litigate mortgage claims, assert consumer defenses when available and defend foreclosures in Florida. State law relating to foreclosures vary widely and we limit our practice strictly to Florida for mortgage related issues, generally in the counties surrounding Tampa Bay. We’re a member of a local Tampa Bay foreclosure defense attorney group, and NACA which is a national consumer advocacy group where consumer attorneys share ideas, tips and trends.
The regular FHA HAMP loss mitigation programs will remain in suspension until October 30, 2024 – next year! All foreclosure sales are to be suspended until the same date. Same with Deed in Lieu negotiations.
So what does that mean?
All borrowers who are already in default or at risk of imminent default are supposed to be evaluated under the expanded guidelines of the Covid 19 Recovery Option program. These provisions could be terminated early by Congressional action, executive or agency rules.
Back in the 2008 foreclosure crisis, one of the biggest problems was the lack of assistance for those who were not on the deed (such as following a death or divorce). Now there are new rules in place for successors in interest for instances where the homeowner may have died or transferred the home via a divorce decree of some sort. These new laws allow the “new” homeowner to unilaterally assume the role as successor in interest. Importantly, it does not require consent by the lender. In some cases, the “new” homeowner does not have to assume the mortgage loan.
Successor in interest means a person to whom an ownership interest in a property securing a mortgage loan subject to this subpart is transferred from a borrower, provided that the transfer is:
(1) A transfer by devise, descent, or operation of law on the death of a joint tenant or tenant by the entirety;
Reboot Your Life: Tampa Student Loan and Bankruptcy Attorney Blog