Chip Parker is the managing partner of Parker & DuFresne, P.A., where he represents Northeast Florida businesses and consumers facing bankruptcy, and homeowners facing foreclosure. His firm files more homeowners in the Mortgage Modification Mediation Program than any other law firm in Northeast Florida.

Parker is the recipient of Jacksonville Area Legal Aid's prestigious Award for Outstanding Pro Bono Service. Mr. Parker is an active member of the National Association of Consumer Bankruptcy Attorneys and National Association of Consumer Advocates.

 

Author: Chip Parker, Esq.

07 Dec Divorce yourself from your home!

As a Florida foreclosure defense attorney, I’ve counseled literally thousands of people about their past due mortgage. The first thing I tell my client to do is emotionally divorce yourself from your home. The mortgage industry looks at the American homeowner like cattle, and there is no concern whatsoever about the social implications of mass foreclosures. For Wall Street, it’$ all about the Benjamin$. The mortgage servicers actually have the audacity to guilt homeowners into “doing the right thing” while callously decimating homeownership for the middle class. I ask, “What would Donald (Trump) do?” The Donald, self-proclaimed master-deal maker, would callously look at any real estate investment, even his own home, as a business deal, and THAT’s what you should do as well.
Read More

30 Nov Means Test Does Not Apply to Individual Chapter 11 Debtors

One of the many advantages for an individual choosing to file a Chapter 11 bankruptcy over a Chapter 13 Bankruptcy is that the 707(b) means test is not incorporated into the calculation of disposable income for individual Chapter 11 debtors. Indisputably, the greatest change to the bankruptcy code in 2005 was the addition of the Means Test. The test is required by bankruptcy code section 1325(b)(3) and is used to determine the disposable income of a Chapter 13 debtor who is above the median income. The Means Test is nicknamed the "Mean Test" because it usually inflates a Chapter 13 debtor's real disposable income. A better indicator is and has always been comparing bankruptcy schedules I and J, which utilize actual data in determining a debtor's true disposable income. The Means Test is inapplicable in Chapter 11.
Read More

25 Nov BofA Misleads the Public with Its National Homeownership Retention Program

As an attorney neck-deep in defending foreclosures throughout Florida, I am always cynical when it comes to mortgage industry claims that it is doing anything to fix the problem it created. In a bit of unapologetic propaganda, Bank of America recently touted that it has "helped" 100,000 homeowners avoid foreclosure through its National Homeownership Retention Program (NHRP). BofA spokesperson, Jack Schakett brags, “The NHRP is one of the proprietary foreclosure prevention programs we use in addition to the federal government-sponsored Home Affordable Modification Program (HAMP).” Riiiight . . . The problem, of course, with any propaganda is that it glosses over details that would refute the claim, and this piece of "news" is no different. Specifically, the article, published by a default servicing trade publication, mentiifter acquiring Countrywide Financial Corporation." That's right. BofA was REQUIRED to start the NHRP program because Countrywide committed mortgage fraud, and it was forced into an $8.68 BILLION settlement. "Reached an agreement" my eye. By the way, the program only applies to the loans acquired from Countrywide. You can view the settlement on the California Attorney General's website.
Read More