This work pertains to modern, interdisciplinary research trends in nanomaterials. The author presents a novel method with major potential for various applications such as ferromagnetic brakes and valves; nanosized shock absorbers, and in the medical field, heart valves and medical nanorobots. A mathematical model is constructed with numerical solutions proposed for the system of equations describing the model. The underlying assumption is that a ferromagnetic suspension can be regarded as a continuous medium. Such an assumption was originally suggested in Peskins Immersed Boundary (IB) method. The IB method is coupled with Chorins Projection method to construct a finite differences scheme for solving a boundary value case. The application and the calculations are done to a first order approximation, hence fluid flow is treated as a Stokes flow. The integration of the rheological behavior is implicit, through the force density field. This method can easily extend to an entire class of Newtonian and non-Newtonian ferromagnetic real fluids, whose shear viscosity depend upon the magnetic field, and upon the modulus of the strain rate tensor.