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More Money for the Courts
Personally, I am happy to see the Courts get additional funding to deal with the Foreclosure Crisis. It may be that we are really lucky down here in South Florida to have some excellent Judges who are working hard to apply the law fairly. I see the strain they operate under almost every day, and it is enormous. It is when the courts are underfunded, and hence understaffed, that Due Process is sacrificed on the altar of Judicial Economy.More Funding for the Courts
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about 1 month ago - No comments
Banks make mistakes all the time. Apparently it doesn’t even matter if you have a mortgage these days! The underlying problem is that the banks and their Wall Street cronies have not gotten out of the mindset of treating people and their homes as commodities. Seriously– not a minor mistake
about 6 months ago - 2 comments
What a load of self-serving tripe! It is the lenders who are the real vampires in this situation (no disrespect intended to the undead!) There are 2 reasons why the banks are so reluctant to take physical possession of these foreclosed properties. The one obvious reason that the banks are not taking over these properties
about 7 months ago - 1 comment
I had another client come in yesterday with “information” from the Hartford Land Trust about his property. I had to explain to him what these Land Trust companies really are (scams- in case you haven’ figured that out by now!). I also had to explain that while I seemed angry, I was not angry at
about 7 months ago - No comments
As someone who deals with servicers on a daily basis, none of this is surprising. I cannot count the amount of times that we have email confirmation from a servicer that they received the requested documents, only to be told later that our loan modification/short sale is denied because they did not receive the document
about 8 months ago - No comments
Okay so I am using this forum to vent today. First off, for those of those in the industry this is not news. We all knew the real reason that the banks were presenting us with false documents in Trust/CDO cases. We knew why their attorneys were fighting us when we requested copies of the
about 8 months ago - 1 comment
Mortgage Defaults are down, but foreclosure rates are steady. What does that mean? That means that that the banks still have a huge backlog that they are dealing with. Basically they are finding, or possibly fabricatiing, the documentation they need to initiate foreclosure proceedings for the properties that they haven’t started the process on yet.
about 8 months ago - 1 comment
Modification Re-Defaults. We have had quite a bit experience with this recent phenomenon. There are 2 basic reasons that we are seeing this. Reason number 1- . To quote James Carville, “Its the Economy, Stupid!” As the report indicates, many people default on their modified payments because they cannot continue to afford them- often the
about 10 months ago - No comments
I just got off the phone with a potential client who walked away from her house a year ago after she was served with Foreclosure Papers. She moved out of state, and after reading an article like this one, got worried and started calling attorneys in South Florida. I was floored when she told me
about 11 months ago - No comments
I was completely shocked when I read this Supreme Court Decision this week. While I generally don’t have a problem with Magistrates easing the burned on courts so that Judges are not stuck dealing with traffic tickets and misdemeanors, I think that assigning magistrates to an incredibly complex and high-stakes field of law is a
about 11 months ago - 1 comment
Jon Stewart is my hero. Here is a lucid and cogent explanation of how the mortgage industry conspired to shortchange our local recording offices by setting up their own loan registry so that they could “track” the ownership of loans without actually needing to document anything. Since we know how good the Big Banks are