If you’re reading this blog, I’m going to go way out on a limb and give you credit for being one of the smartest persons on your block. I think there’s a pretty good bet you’re far more in tune than a big portion of the population of zombies wandering around out there.
And now, I want to ask for your input….your analysis. You are all bright people with many important professional and analytical skills…I want to know what you think these numbers mean…..
I would like to share my opinions, my thoughts, my commentary, but. Well. I’m not. I can’t. I won’t. Unfortunately. But I’m very, very interested in what all of you think these numbers mean…..
Please read, then log in and leave your comments for all the other readers to consider….
At first glance of the backlog, you could say that the court is clearing the cases. Which would then lead you to assume that foreclosures have peaked, and that things are getting better.
But….”Type of Dispositions” tells a slightly different story. If we assume that “dismissed” means that the bank brought the action, then either voluntarily or involuntarily exited the action, that’s about 70,000 foreclosures that should be in backlog. UNLESS – that is a typical dismissal rate? Do you have the data going back to 2006?
Because to me, that’s where the real story is told. The last page has specific data from 2006 on to now. Those numbers tell a story of increasing foreclosures (which I would tend to believe is also rate of foreclosure), then declining clearing rates, then increasing clearing rates – at about 2009 – when the legal community in Florida – and judges too – woke up to the fraud.
So, what I would say this data says is – the banks have a HUGE shadow backlog (maybe 200K plus) in excess of the reported backlog. Which means the real estate market will go down. Couple that with unemployment insurance ending at the end of this year, 1/5 new graduates w/o a job but most likely with unforgivable student loan debt, and the clear need from the US government and state governments to slash budgets (which will have to come with layoffs) – and I think I wish I had dual citizenship in a country like”¦.Chile?
The numbers meant lack of due process in my case!
Three completely different “original” Promissory Notes. One blatantly fraudulent Assignment to OneWest, from a OneWest employee for the original lender who sold the note three years earlier, yet the Marshall Watson attorney didn’t include it with the complaint. I submitted it as proof of fraud on the court, but the Sr. Judge in Lee County ignored it! OneWest, didn’t even claim ownership of the loan or submit any business records proving they had any ownership interest, yet they were still given my home!
So a huge “LACK OF DUE PROCESS”! That’s what those Foreclosure Rocket Docket numbers mean. . .
can you forward me details on the three notes, and did the home sell yet? did you file bankruptcy to stop the sale?
Lin:
I was going to tell you to contact Matthew as you still have recourse if the home was illegally foreclosed on without the original promissary note among other documents. Remember there is only 1 original note which is the one you signed @ closing with ALL original signatures from you, banksters officer, bank seals & any sales they made of the mortgage properly endorsed. Go after them don’t give up the banksters are crooks screwing everyone they can in the courts.
Were you represented in your case? If you were not then that was a big mistake on your part.
My case was dismissed in June for lack of prosecution. The day that I went to court for that, the judge rocket docketed over 250 cases in under 4 hours. The overwhelming majority of these were dismissed, and I would say that less than 25 of them were scheduled for trial.
My bank filed the foreclosure in March 2010, I filed an MTD, an answer, and a production of document request in April 2010.
I also filed a motion for sanctions in Bankruptcy court because the mortgage they provided the bankruptcy court didn’t match the one filed in the foreclosure. They settled for 5 figures.
The bank made a motion for extension of time in May 2010, and the case was finally dismissed in June of 2011.
There is really only ONE number in all of that reporting that stands as a testament to the legacy of the “rocket dockets” in Florida.
The total number of cases that went to trial in the 2010-2011 year reported.
0.06 PERCENT!!
THAT NUMBER is what the crafters of the rocket dockets are probably most perversely proud of, and it is that same shameful number that should horrify every citizen.
Excuse me, I think I’m going to be sick now….
EXACTLY….THAT’S THE POINT!
Just to put that number in perspective, The estimated number of Jews that survived the nazi concentration camps during the holocaust is 8%.
Comparing 6 million victims of the holocaust with something over 1/2 million foreclosure cases shows that you had a 134 times better chance of surviving the holocaust than seeing a trial in your Florida foreclosure case.
I DO NOT intend to demean the human tragedy of the holocaust in amy way. I am simply trying to put the current human tragedy In Florida into some kind of perspective.
Based on the current rate of case disposition (151569) every 9 months or 16841 monthly it would take 27.5 months to resolve ALL cases pending as of 6/30/10.
BUT their exists a net annual increase +100,380 new cases during the discussed 9 months ending 3/31/11 using the above disposition rate of 16841 cases monthly would add 6 months annually to the above 27.5 until foreclosure rate decreases.
I also believe judges can speed up the process with forced dismissals. The majority of these cases i have read lack original promissory notes, non-owner or servicer trying to foreclose on mortgages they sold the same day they were funded & closed.
Matt, I’ve got 4 differrent variations of the same purported original note in my case. These notes were submitted to both the 6th Circuit court in Pasco Co. and in the Middle District Bankruptcy Court in Tampa. The only thing said was from the BK judge , to let the circuit court judge handle that problem. So far , the circuit court judge don’t get it, but were still fighting with the help of a JEDTI warrior.
if it’s a jedti, you’re good…who is it, i’d love to talk to him
well we sure appreciate the compliment. we have spent alot of time researching what has happened and what has gone wrong. what i have learned today is that our courts and the banks play on the ignorance of americans. does anyone on this blog beleive that is fAIR? i have spent hours on research because i beleive somehting happened. that does not mean that the guy down the street that lost his job and cant afford hos home leaves and rents down the street didnt have fraud in his mortgage. it just means we are doing the research. no one should lose their home because they are not web addicts. i am obssessed with saving my home bad or goos it os not a good thing for my family. i am stressed cant sleep well. the stats on this blog are horrrible 16k back log of foreclosures in 5 curcuit? no we are not asking for a free home we are asking for the fraud to be dealt with and procecuted. robo signing, modification fraud, appraisal fraud. origination fraud which includes adding a few hundred dollars to a mortgage application to meet underwriting guidelines. WE SHOULD BE ABLE TO SUBMIT PAYCHECK STUBS THAT OUR MORTGAGE APPLICATION WAS BASESD ON AND JUST LIKE THEY ARE “SO” PRECISE TO THE 31% FOR HAMP OUR PAY CHECK STUBS SHOULD MATCH OUR MORTGAGE APPLICATION. ESPECIALLY FOR OUT OF TOWN SALES WHEN APPLICAITONS WERE DONE OVER THE PHONE AND THE LAST PAPER SIGN AT CLOSING. wasnt it ardent mortgage executives just sent to jail for teaching brokers how to fix mortgage application? i doubt that it stops at ardent. keep up the fight lets write everyone on the financial committee we have to get this foreclosure mortitorium on the table before another person loses their house
You’re right about the income numbers being changed. I finally received a full copy of my mortgage application from Quicken, which wasn’t given to me originally. Much to my surprise, or I should say horror, they tripled my income and listed my monthly expenses as $10.00! But, the really frightening part was, they put my signature on it, too!
Don’t wait until you’re in foreclosure to get a copy of your original loan docs. You may find they’re not what you thought they were!
My case dismissed, will appear again.
The first round of shock and awe buy the bank has won them the uncontested cases (less than half). And they were mostly improperly presented to the courts.
So, more than half their total cases will repappear with a different stagtegy??? In Florida it appears that simply political assistance where they need it. Change the laws if they have to. Your reports are proof that this state is owned, not by the people!