Thanks for joining us. Im bob massi. I want to introduce you to a couple who went through something that lots of americans have experienced unnecessarily. Im gonna go meet kin and colette. Kin is a surgeon. Several years ago, he was trying to fix a light. He was on a ladder in the back of his home. And he fell off the ladder and had whats called a closedhead injury resulting also in a stroke, ultimately being forced into filing bankruptcy. Colette, doctor, nice to meet both of you. Thank you for having me. Right at the height of the market crash a few years ago, kin fell off a ladder. I was changing the light on the back of my house. When i regained consciousness, the sun was in a different position, and i knew i was, you know, i had at minimum a concussion. And then about a few months later, i woke up unable to move my left side. As he recovered, he couldnt work, and he fell behind on the mortgage payments. I had to live mostly off my credit cards. As physicians, especially solo physicians, we dont have any sort of unemployment or disability, so when we are disabled, we dont you dont eat unless you make unless you bring in your own money. After a year in rehab, ken was recovered enough to work again, and he wrote a check to the mortgage company. He contacted them. He said, how much money do i owe you . I called them and asked them if i can try to become current with my loan. And i even paid the late fees for being late on, like, 11 of them. So, when you called them, they actually gave you an amount to pay to bring you current on the loan. Yes. And you sent the check in . It cost almost all my savings and my Checking Account at the time, but yes. He sent them all of the money, plus fees and interest. Guess what. Two months later, i received a letter in the mail saying that im being foreclosed on. I then called the lender, and they told me that instead of accepting my check, they were going to foreclose on me. As foreclosure loomed, they had a few options. First, they could do nothing stay in the house until it gets foreclosed on. Two, they could try to get a loan modification. Surely he had hardship. The man fell off a ladder and had a closedhead injury and a stroke. And three, they could get Legal Counsel to see what their rights are. They hired a law firm to help them, but the case to fall between the cracks. We went to go see that attorney, and it was on the third visit, and with the third visit, it was the third attorney because this place just kept rolling over attorneys. Actually, the person that weve seen the most was the finance department to make sure we could continue to pay the 4,000 every year. We got absolutely nowhere. And thats when i told kin, do you really want to fight. Do you want to be here . Do you want to fight for this house . And he said yes. I said, then let me take over. So heres a very educated man, whos caught in the middle of this crossfire with a lender, and across the board, you didnt even know what was really the best way to go, which is a poor commentary for everybody. Yes. Its unfortunate. But ive had over a dozen years of postgraduate training. Im a highly skilled technician. But none of my courses involved anything about finances, business, or even how to keep a house. He knew what he wanted, but how do you get there . If this was a medical problem, itd have been fixed. They found a new attorney, and they decided to attack rather than defend. There was no time to waste, so the lawyer advised them to file whats called a chapter 13 bankruptcy, and when they did that, it automatically stopped the foreclosure. Our house was going on auction that tuesday. That monday, we got a stop or a stay on the actual auction of the house. You, like Many Americans who were in default, there are really several options. The first option is do nothing. Many people did. They did nothing. They lived in the home until they finally said, take it because theyd had enough of the lenders. Just what you went through. Yes. Sure. You know, basically being, feel like youre a criminal, being assaulted, having your money rejected. The second thing you would try to do is, on your own, a loan a modification, which you may have tried and still be unsuccessful because you never, ever talked to the same person, and they were always losing the documents and sending new information. Mmhmm. And then, of course, the ultimate thing was how do you save your home . Here you are saying, i want to save my home. I paid, and you got good advice ultimately, saying, theres this thing called a bankruptcy. So many consumers over the years have filed bankruptcies and not really understood the impact. Now, lets look at the chapter 13. We actually call that a wage earners plan. This is what it means. Lets say you make 10 a month, and out of that 10 a month, 8 is your expenses, and 2 are disposable income. You may qualify for a chapter 13 and that disposable income is used for purposes of paying off some debts. You have to give the court a list of your income and expenses. The plan of repayment is submitted to the court for review. And if it meets the standard, the court gives its blessing, and you begin making your payments over a three or fiveyear period. You do have to pay your trustee every month. You cant just pay the bank. You send your check to the trustee. The trustee then sends, you know, to their bills and makes sure everythings taken care of, and we do that for five years. And when thats completed, the debts are gone. Again, its a new way to start your life. I was offered but did not declare any of my credit cards or other items that i could have put into the bankruptcy. They were also able to get a federal courtordered mediation and a loan modification. So, what does that all mean . It means that you go with a group of people a representative from the lender; a representative on your behalf, in this case, the bankruptcy lawyer and you try to figure out if you qualify for a loan modification. The lender looks at all of your financials, and then they decide if theres enough of a hardship. I believe we know in this case surely there was. What is your message to those people that are still going through this in america . And they still are. What is your message . You dont accept whats being told to you. You keep fighting. If things change and you cant make the payment, you immediately go to that lawyer and say, somethings coming up in the next six months. Im not gonna be making the money im gonna make. So, we may have to adjust this plan now. Too many people wait to the last minute, and then the trustee moves to dismiss that bankruptcy, and then theyre really screwed. So, make sure you keep on top of it. Up next, america is changing, and that includes where people live and how they get around. A look at how transitoriented development could be reshaping your life, and sooner than you might think. [ woman vocalizing ] in new york state, we believe tomorrow starts today. All across the state, the economy is growing, with creative new business incentives, the lowest taxes in decades, and new infrastructure for a new generation attracting the talent and companies of tomorrow. Like in rochester, with worldclass botox. And in buffalo, where medicine meets the future. Let us help grow your companys tomorrow today at business. Ny. Gov welcome back. Im bob massi, the property man. You know, one great thing about doing this show is that i get to see the way people live and how its changing. Successful communities are able to figure out what kind of lifestyle folks want, and they give it to them. [ bigband music plays ] in the early 50s, William Levitt built levittown, and the modern american suburb was born. People began flocking to the suburbs, raising families there, and finding a way to commute into the city for work. It was a great time in america. [ uptempo music plays ] well, theyre running out of land, and people are tired of sitting in their cars. Now things are shifting again, and a big part of that is what we call transitoriented development. Transitoriented development is flipping development on its head. Transit first, and then build around transit, whether its retail, commercial development, or residential. So, it serves as a central gathering place, and then you build around. What it is not is having a development already established and then putting some form of transit, retrofitting it in. So, rather than a transit stop just being a dropoff point, its now becoming a nexus of Economic Development to ensure that within 1 4 to 1 2 mile of a transit stop, youre going to find mixeduse development that vertically integrates things like retail, apartments, offices, commercial development. That way, people will walk instead of taking other forms of transportation once they get off mass transit. And orlando, florida, was the Perfect Place that turned this concept into reality. Orlando has always touted itself as a place to live, work, and play. The problem historically is that weve had sprawl. So, the live, work, and play was separate. You worked one place, you lived another place, and typically, you played in a different place. The idea was we had to grow smarter, and we really needed to focus on transit and then transit nodes. We were one of the few communities 10 years ago that didnt have any form of Commuter Rail or light rail system. [ horn blows ] then came sunrail. The state of florida bought a 61mile section of an existing freight rail line to create a commuter service. It was public money that built the sunrail system, and then its private money, largely, that is building and investing in the areas that are close to the stations. And this will allow people to be able to live much closer to a transit that will get them to their workplace, get them home at night, without having to jump on the highway in their cars. Residents can shop around the station. They can get to work using the station. And they do it in a sense of walkability. Sunrail has had a huge impact on downtown orlando. We have probably a couple of billion dollars worth in downtown thats associated specifically with the fact that we have sunrail. It creates sort of a circle of how we want development to happen. Within 1 4 mile of a transit stop, we call that the transit core. Thats where you find medium to highdensity and intensity development. And as you go out, it starts to decrease. The logic behind it is that people really wont walk more than 10 minutes, so we have to cluster that development as closely as possible to transit as we can. Well, sunrail has been in existence now since may of 2014. And the impact has yet to be fully felt. But as you can see behind me, its already being felt with the development of the 172acre Florida Hospital health village. They see this as a way for people to be very close to the health care that they want. Its going to take 15 years to build this all out in the end. There will be residential, 550 units. There will be commercial, real estate, hundreds of thousands of square feet. Studies within the last couple of years have shown that about 60 of millennials would be willing to live in a smaller house if it meant less than a 20minute commute. The millennial generation all want to be close to where they work, close to where they want to play, close to where they want to shop. Theyre not interested in driving long distances. This is going to drive urbanoriented developments all across the country. Younger people are demanding this. And so i dont see a lot of growth that is not going to have as a key component transitoriented development. Up next, have you ever thought about your dream home and imagined it having a white sandy beach . Or for us golfers, a putting green . Or a retreat styled after a northwest Mountain Lodge . Well, im gonna take you inside a property that has all of that and much more. The property man comes right back. [ woman vocalizing ] audi pilotless vehicles have conquered highways, mountains, and racetracks. And now much of that same advanced technology is found in the new audi a4. With one notable difference. The allnew audi a4, with available traffic jam assist. Try align for a nonstop,ive sweettreatgoodness holdontoyourtiara, kindofday. Live 24 7 with 24 7 digestive support. Try align, the undisputed 1 ge recommended probiotic. Oh boy. Thank you. You make me feel so young you make me feel so spring has sprung i want to take you inside another luxury home just hitting the market. And if you want to talk about Luxury Living in central florida, well, you turn to mark hayes. Hes the president of isleworth and stockworth realty, and he knows his stuff. Isleworth is the exclusive 600acre Residential Golf Community located in southwest orlando. It got the name isle of worth because of its location on the butler chain of lakes 11 interconnecting springfed lakes with 70 miles of shoreline. Were gonna go into this house in a minute, but just this is magnificent. Tell us about the outside. Bob, this home is known as la belleza dorada, the golden beauty, and its one of my favorite homes. Hey this 7,200squarefoot home is listed for 5. 3 million. It sits on over an acre of land on the 16th tee. Over 12,000 square feet. All the materials in this home were imported from all over the world. It was designed to feel like you were living in a resort yearround, but its also got a lot of fun places. Lets go have some fun. Yeah, lets go look at it, buddy. Whoa [ laughs ] he was pretty serious. This elegant fourbedroom, 6 1 2bath home displays superior custom workmanship throughout. The lavish finishes hit you from the moment you walk inside. Imported italian tiles, granite, and marble, natural stones and woods, plus caststone columns. Everything about this house was so thoughtfully planned. You walk in, and youre overlooking the 16th tee. But youll notice theres a berm there, so the golfers cant see in. You have total privacy. These pillars, magnificent inside and out. Everythings custom. Beautiful terra cotta. Real stone columns. All the woodwork is custom. All the ironwork is custom. This house was really built to entertain. Theres several distinct areas of this home that make it a lot of fun. You feel like you have five homes in one with this house. [ latin music playing ] youve been in the realestate business for quite a while. I mean, i know education is your passion and things like that. Over 25 years. When you walk in, its almost like you dont even have to sell it. It speaks for itself. Theres just so many thoughtfully planned areas that are just inviting. For instance, the kitchen overlooks the entertaining outdoor kitchen, you can see the entire backyard from many angles. Its just. Its very inviting. Its very comfortable. What really makes this house special are the five separate Outdoor Living areas. White sandy beach with sand imported from marco island. A tropicaloasis playground with a saltwater pool and spa. Putting green steps away from the 16th tee of isleworth country club. And a covered area with a wall of florida doors that fully open for true indoorOutdoor Living. Plus an english garden. [ latin music plays ] a lot of times, people who buy homes on the golf course in different parts of the country, they dont have the privacy. But this home provides you this. Oh, this house is perfectly designed for feng shui, where the trees are planted thats true. Your vistas, the water. Weve had so many people come to this house, and the minute you walk in. Ahhh. Yeah. Its relaxing. You just feel it. Very relaxing. You have a gentlemens retreat, complete with wood built out the cave. The cave. The man cave. Lets go look at the mans cave, buddy. All right. [ latin music playing ] the gentlemens retreat is styled after a northwest Mountain Lodge, with an authentic antler chandelier, full bath, and fully equipped bar. The home is being offered with the option of keeping all of the custom furnishings. The tuscaninspired estate lends itself to indooroutdoor entertaining with more than an acre of lush tropical landscaping. The ironwork is all, again, custom. Doors are custom. Things brings a whole new definition to master bedroom. [ laughs ] i mean, look at the expanse view, the high ceiling, the handpainted ceiling. Fireplace, breakfast nook, not a bad way to start your day. And isleworth golf course. Yes. Life is good here. Life is good here. Life is good here. Just a beautiful, welldetailed, warm home. We like to say isleworth is where the great come to get better. Up next, ill recap everything we learned today in the massi memo. [ woman vocalizing ] i dont want to live with the uncertainties of hep c. Or wonder whether i should seek treatment. I am ready. Because today theres harvoni. A revolutionary treatment for the most common type of chronic hepatitis c. Harvoni is proven to cure up to 99 of patients whove had no prior treatment. Its the one and only cure thats one pill, once a day for 12 weeks. Certain patients. Can be cured with just 8 weeks of harvoni. With harvoni, theres no interferon and there are no complex regimens. Tell your doctor if you have other liver or kidney problems, hiv, or other medical conditions, and about all the medicines you take including herbal supplements. Taking amiodarone with harvoni may cause a serious slowing of your heart rate. Common side effects of harvoni may include tiredness, headache and weakness. I am ready to put hep c behind me. I am ready to be cured. Are you ready . Ask your hep c specialist if harvoni is right for you. [engines revving] you cant have a hero, if you dont have a villain. The world needs villains [tires screeching] and villains need cars. Heywhether to stay or go . Re when its go, the new Choice Privileges gets you there faster. And now, stay two times and you can earn a free night. Book now at choicehotels. Com it begins from the the second were born. Er. Because, healthier doesnt happen all by itself. It needs to be earned every day. Using wellness to keep away illness. And believing a single life can be made better by millions of others. As a Health Services and Innovation Company optum powers modern healthcare by connecting every part of it. So while the world keeps searching for healthier were here to make healthier happen. Time now for the massi memo. Earlier, i told you the story of ken, the surgeon who found himself fighting to save his home after a head injury and stroke left him temporarily without any income. Ken filed a chapter 13 bankruptcy, which stopped the foreclosure, and, through courtordered mediation, was able to get a loan modification and save his home. Its important to understand the types of bankruptcy. First, chapter 7 bankruptcy. Thats a liquidation of assets, also known as a noasset estate. In other words, you get an opportunity to hit the restart button. You must meet the Median Income wherever you live in order to qualify before filing. And also, credit counseling is necessary. Trustees are appointed, and they oversee the bankruptcy once its filed, and it stops any other legal matter, including a foreclosure. You must file all of your assets and liabilities in your verified sworn petition. If there are no assets, all debts will be discharged, and your life well, it can start over. Now lets talk about a chapter 13 bankruptcy. Thats called the wage earners plan. You must meet the Median Income level where you live also in order to qualify. If you qualify, the court will approve a payment plan of creditors. The payment plan is usually three to five years, and at the end, all debts will be discharged. The downside of a chapter 13 bankruptcy if something changes in your financial position and you cannot pay the bankruptcy trustee, well, it could be dismissed by the court because you did not comply with the plan that was approved. It is urgent that you contact an attorney if anything changes where youre unable to make the payment plans under the chapter 13. Now, ken was also able to get a loan modification because of the successful bankruptcy and a competent attorney. Today, theyre not as prevalent as they were in the past, but you still have to show hardship if you have any shot at getting a loan modification. And remember, on a loan mod, if youre approved and if you default, the over and under on you ever getting another one is slim and none. As always, theres more info on as always, theres more info on our website at foxnews. Com propertyman. Thats it for today. Be sure to send me your questions or property stories at propertyman foxnews. Com. Im bob massi. Ill see you next week. [ woman vocalizing ] im bob massi. For 34 years, ive been practicing law and living in las vegas, the center of the recent realestate crisis. Lives were destroyed from coast to coast as the economy tanked. Now, well, its a different story. The American Dream is back, and nowhere is that more clear than the Sunshine State of florida. So we headed from the strip to the beach to showyou how to live the American Dream. Im gonna meet real people who are facing serious problems, take you behind the gates of properties you have to see to believe, and give you the tips that Everyone Needs to navigate the new landscape, because information is power, and the property man has got you covered. [ woman vocalizing ]