The Federal Government spends bajillions of dollars telling us that they’re trying to help homeowners in the foreclosure crisis. Problem is, according to their own numbers:
Over 900,000 Americans have begun trial modifications since the program’s inception and over 110,000 have been approved for permanent modifications as of December 31, 2009.
Over 100 servicers have signed [...]
Tags:ADMINISTRATION UPDATES DOCUMENTATION COLLECTION PROCESS AND RELEASES GUIDANCE TO EXPEDITE PERMANENT MODIFICATIONS·Chief of Treasury's Homeownership Preservation Office·hamp·making homes affordable·mortgage modification·new hamp guidelines·Phyllis Caldwell
I was wondering what the response would be to the backlog of foreclosures and now it has reared its ugly head in the name of The Florida Consumer Protection and Homeowner Credit Rehabilitation Act.
A review of this bad, anti-consumer bill can be found in the St. Petersburg Times here. If it passes it will [...]
Tags:alex sanchez·bank of america·deed in lieu·florida bankers·Foreclosure·foreclosure pinellas·short sale·The Florida Consumer Protection and Homeowner Credit Rehabilitation Act
Years ago I filed a lawsuit on behalf of an out of state corporation client. The opposing attorney filed a motion to dismiss because the corporation I was suing on behalf of was not registered with the Florida Secretary of State. Fast forward to now when I’m building my practice on defending homeowners in foreclosure [...]
Tags:anne matacchiero·anthony rondolino·capacity·Coburn v. Coleman·Florida rules of civil procedure 1.120·foreclosure defense·foreclosure pinellas·Hershel California Fruit Products Co. v. Hunt foods·Klebano v. New York Produce Exchange·matt weidner·mortgage foreclosure·wachovia mortgage·wells fargo·world savings bank
An article in today’s Wall Street Journal found here notes that the housing market is recovering but
Other areas look decidedly less hopeful. Miami, Las Vegas, Phoenix, Orlando, Jacksonville and Tampa, Fla., had the highest rates of defaulting borrowers among the 28 markets surveyed.
The weakest job-market prospects this year were found in Tampa, Jacksonville, Las Vegas, [...]
Tags:case schiller·Foreclosure·jobs·matt weidner·moodys·tampa bay·unemployment
The legal and legislative deck is, for now, stacked severely against the borrower and homeowner in foreclosure proceedings. Some things are slowly changing and an experienced foreclosure attorney can provide real assistance to help a homeowner keep their home or at least stay in it long enough to work on some better solution.
Tenants [...]
Tags:deed in lieu·Foreclosure·Helping Familes Save Their Home Act of 2009·mortgage modification·short sale
While the knuckleheads in Washington continue to prattle on about health care, the economic picture continues to worsen and unemployment continues to grow. Until something real is done about jobs, the economy will continue to shrink and our troubles will only worsen. Some data from a recent Wall Street Journal Article that can be found [...]
I currently have several files in my office where buyers with cash or with solid financing have made solid offers on properties that are in foreclosure. By solid I mean offers that will net the mortgage lender something like 75-80% of the balance of the mortgage on the home. It is absolutely maddening that I [...]
Tags:bank of america·citimortgage·deed in lieu·matt weidner·pinellas foreclosure·short sale·The state foreclosure prevention working group
The State Foreclosure Prevention Working Group consists of 12 state attorneys general (Arizona, California, Colorado, Florida, Illinois, Iowa, Massachusetts, Nevada, North Carolina, Ohio, Texas and Washington), bank regulators for New York, North Carolina, and Maryland, and the Conference of State Bank Supervisors. They are a relatively objective group that offers solid data on the foreclosure [...]
Tags:bank of america·deed in lieu·Foreclosure·hamp·lost note·matt weidner·mortgage modification·obama modification·state foreclosure prevention working group
From an article in the Wall Street Journal…
Number of Foreclosed Homes Will Continue to Soar
Since the start of the recession in 2007, more than five million homes have been taken back by lenders. The Center for Responsible Lending estimates that as many as 13 million more homes could fall into foreclosure over the next five [...]
Tags:deed in lieu·Foreclosure·hamp·matt weidner·mortgage modification·OBAMA·short sale·wall street bonuses
Does a bank need to prove they own a note/mortgage in order to foreclose? No. Does a bank need to prove how much they are owed if they try to foreclose? No. In fact, they don’t need courts, just let them bust down doors, and throw people and their property out. Although numbers are difficult [...]
Tags:bank of america·charlie cardoso·countrywide·deed in lieu·foreclosure abuse·foreclosure fraud·lost note·matt weidner·trashed out
