Foreclosure Defense Florida


banks-drop-foreclosuresA stunning development has occurred in Lee County—a wave of cases are being dismissed.   This is unprecedented and a very curious development. Is this a sign of things to come?   Why have multiple firms and many plaintiffs decided to dismiss these across the board?   Is this admission from the opposing parties that these cases are so fatally flawed that they cannot continue?   And with all these cases dismissed, what does that say about the hundreds/thousands of cases that have been taken to final judgment in preceding months?

1:10 A.M. “” Banks in recent weeks have been dropping hundreds of their Southwest Florida foreclosure lawsuits instead of facing defendants at trial, according to local attorneys and court records.

Opinions varied sharply on whether that means banks are just taking a breather before refiling with stronger evidence – or giving up for good on hopelessly flawed cases.

Some foreclosures at large law firms were never actually read by the attorneys who filed them here and elsewhere, and some of the mortgages that ended up in mortgage-backed securities sold to investors were never legally transferred by the banks, defense attorneys have alleged.

Ft. Myers News Press


  • Mediator Ken says:

    This has nothing to do with the Ibanez decision. I suspect that these are the cases that came from David J. Stern’s office. I’ve heard that those files were in such disarray that the cases couldn’t be salvaged and needed to be dismissed and refiled.

  • smtblnde says:

    Goldman Sachs and Bank of America down 3% today.

    Earnings posted for BAC was due to bad debt reserves for 2010 being moved on to their operating balance sheets.

    In other words, push litigation liability to the next quarter/year in order to pretend to have profits.

    2011 is the year banks and the gov have no choice but to bite the bullet.

    My indicator for this event is not a bombshell court case, Fed policy, or another Obama teleprompter nite-nite every thing is going to be alright story, but that my bagger at the checkout line knows the books are cooked.

  • smtblnde says:

    Immediately, law enforcement and the IRS should investigate each and every one of the dismissed cases.

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