Hudson, Jones, Jaywork & Fisher

This is not something where a free consult would be appropriate.

Most people realize they can save money by re-financing their home, but they often don't think they can afford the up front costs of refinancing. May times the new mortgage lender can add those costs into the new mortgage with little reduction in the savings. Your attorney can often save you money in circumstances when he or she can rely on your old survey instead of ordering a new one, or by asking the title insurance company to give you a reissue rate on your old title policy. Before you re-finance, ask about these tems. If you have any questions about re-financing or any other legal matter, call for a free initial consultation.

Most people know that mortgage rates are lower than they have been in many years. What they don't know is just how much they can save by re-financing now. A 2% difference in the interest rate over 30 years will save a homeowner $38,829.60 on a $75,000.00 mortgage, with a payment reduction of $107.86 each month. In many cases, the homeowner can keep the same payment amount and reduce the length of the mortgage from 30 to 15 or 20 years. These savings will more than pay for the initial cost of re-financing, and often times the mortgage company will include the cost of re-financing in the new mortgage. If you have any questions about re-financing or any other legal matter, call for a free initial consultation.

Whenever you lend money, the best advice is always to make sure you obtain a written note. Not only is it evidence that the money was meant to be a loan and not a gift, but it lets the borrower know that you intend to be repaid. It also allows you to state when you expect repayment, whether or not you expect interest, and what your rights will be if you are not repaid. You may also want to consider whether or not to take any collateral to protect the repayment. If so, you need to be sure that you are getting a lien on that collateral that will stand up if the loan goes bad. If the lien is not properly protected, you may end up with no collateral at all. Before you loan to a relative or friend, always consult with an attorney.

Chapter 13 Bankruptcy is also known as a Wage-earner Plan. It can be used to protect a home or other property, if you and your spouse have more assets than can be protected in a Chapter 7 bankruptcy. You must have regular wages or income, and you will have to make a monthly payment to a trustee who will divide payment among your creditors. How much you must pay will depend on the plan you file with the Court. If the plan is approved by the Court, once you pay all of the monthly payments to the trustee, you will be excused from paying any amounts still owed to unsecured creditors. If you are having trouble paying your bills, call for a free initial consultation, we'll tell you what alternatives you may have to bankruptcy, and whether or not you qualify for bankruptcy relief.

In a Chapter 7 bankruptcy, a husband and wife in Delaware are permitted to keep up to $125,000 worth of equity in their residence (after 1/1/2012), $25,000 per spouse of other assets and all retirement assets. Your home, cars and other property which may have a mortgage or lien against them are not included or only partially included towards these amounts. In most cases, you will be able to keep your home, cards and other property, provided the payments on those loans continue. You will be excused from paying any unsecured debts. If you own more than the protectable value of assets, other forms of bankruptcy may still provide you some relief. If you are having trouble paying your bills, call for a free initial consultation, we'll tell you what alternatives you may have to bankruptcy, and whether or not you qualify for bankruptcy relief.

If you are buying or refinancing a home, the mortgage company will probably require that you buy title insurance to protect their mortgage. But most people don't know exactly what they are buying or even why it is needed. The most important thing an attorney does in any real estate purchase or refinancing is the title search. Simply put, this is a search of the public records to determine if the Seller (or the person you are buying the property from) can give you good title to the property, does he own 100% of the property with no liens or other claims? The Seller's title depends on the title which he or she received from the person who owned it before the Seller, and from every other person who has owned it before the Seller, and from every other person who has owned the property over the years. The title insurance certifies to you that the public records have been searched and that you are getting a good title.

Our office closed at 1pm today but we will reopen in the morning for regular business hours.