Foreclosure Defense Florida

Foreclosure Mills Buying Foreclosed Properties?

I’ve been hearing chatter and rumors about parties affiliated with the foreclosure mills buying properties after they have completed the foreclosure and now apparently reporters have been hearing such chatter as well.

If anyone has details on such transactions from anywhere in the state, please email that information to me at weidnerlaw@yahoo.com.   Some of you good researchers out there, this could be bombshell material.   If you’ve got the time, I would be looking at all sales in a given area, then backtrack that sale to see if   the last record was a certificate of title. I would suspect that properties would first be going into LLCs or land trusts so multiple deeds going into these would catch my attention.investigate foreclosures

We uncovered a mountain of questionable information last time I asked for Assignments, and federal investigations across the country are currently underway into the assignment practices, most notably into the practices of Lender Processing Services, LLC… but that’s just the tip of the iceberg.   The feds move slowly, but unlike other crimes, these paper crimes leave a long, recorded trail.

So get out there are poke around…let me know what you find!

4 Comments

  • TampaRich says:

    My brother had a Condo foreclosed on and he insists the Attorney Amy McGrotty was the actual one who recieved the property. I believe this and other inside stuff is going on. I just had a friend foreclosed on Sand Key Beach and although many Investors I know would have loved to purchase a 4 Bedroom house in Bellair Beach for $133k! it happened quickly and as the Bank told my friend they had still been working on a modification with him and not to worry!!

    • This is so important to track down. The people that lost these home should be sufficiently motivated to track and follow this…I believe it is going on and if we could only document one, just one case it would be so powerful.
      Please encourage both to research, talk to neighbors, do whatever….I would love to catch them.

  • Hey Matt:

    I’ve heard through the grapevine that one of the owners of one of the big foreclosure mills here in Arizona is interested in buying up the foreclosed properties. I also have some evidence that suggests the other main foreclosure mill is already doing this. The money appears to be going straight into the pocket of the law firm.

    What can you do?

    Here in Arizona, the state court judges are doing their best to avoid ruling on foreclosure cases, and until they wake up and see what’s going on, this kind of stuff will continue to happen. It hard to stop a non-judicial foreclosure sale even with evidence.

    A couple of weeks ago I did an audit and found at least four statutory violations in an Arizona foreclosure mill’s Notice of Substitution of Trustee and subsequent Notice of Trustee’s Sale. The client filed a pro se suit and wound up in front of a Commissioner (not a real judge) asking for a TRO and the Commissioner REFUSED to stop the sale despite the violations in the pleadings.

    Until the judges start taking heat for their rulings, I don’t know how things will change.

    Christine

  • Mike says:

    Christine, you hit the proverbial nail on the head: “Until the judges start taking heat for their rulings, I don’t know how things will change.”

    Nearly 100% of all property owners have NO clue regarding all deceit…and they are so overwhelmed trying to find work or enough money to pay their remaining bills to worry about judgments or repercussions.

    We non-legal people (whether right or wrong) rely on the LEGAL system to work.

    Clearly, from AZ to FL and apparently all places in b/t the legal system is NOT working.

    By the time the legal system wakes up, millions more will lose their homes.

    Vacating judgments down the road with title defense will NOT help the majority who won’t know (or have the money to) defend against these judgments.

    I faced a Clermont (FL) attorney who worked with a tenant to hold a property hostage, forcing the property owners into foreclosure. These tenants didn’t want to move to the new home they were buying until they had closed. So they hired a “legal hack” to throw a bunch of “cease and desist” BS at the owners and me (the list agent).

    No attorney would take the case w/o $10k-$20k retainer.

    Courts were so backed up with eviction filings.

    Owners had no money to fight…..

    The kicker to all this is that the “squatters” had contracted to BUY this very house. They were under contract but went out to buy another house.

    …even though approved short sale with all their terms were approved.

    Regardless how right a property owner is, the property owner (or former property owner) must have the money to fight back.

    Back to Christine’s comment, “Until the judges start taking heat for their rulings, I don’t know how things will change.”

    Mike

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