Foreclosure Defense Florida

Why Floridas Foreclosure Machine Is Slowing Down (BusinessWeek)

Published : Fri, 15 Oct 2010 09:48
By : yahoo.com

abc money“At the George E. Edgecomb Courthouse in Tampa, Judge Sandra Taylor presides over one of the special courts set up to help work through Florida’s backlog of foreclosure cases. Sitting at a desk in a fifth-floor conference room, with a court assistant and a cart stacked with manila envelopes at her side, Taylor uses a speakerphone to talk to attorneys for the banks and mortgage servicers who call in rather than appear in person. Most borrowers don’t show up to contest the loss of their homes.

One day in early October, Taylor had 51 cases on her docket. It took her about 30 seconds to approve some of the actions and set a sale date after lenders’ attorneys summarized the case and the amount owed. “I wish there was more we can do,” Taylor told one homeowner who did appear. She said there was “no legal reason” why she shouldn’t approve the foreclosure on the home.

Another homeowner, Ingrid Young, 44, told Taylor she couldn’t afford the $1,900 monthly payment for her Tampa house because she earns only $1,800 a month. “I am in default, and I do realize that,” she said. Taylor approved the foreclosure after persuading attorneys for CitiMortgage, a unit of  Citigroup (NYSE:C –  News), to set the sale date in January, after the holidays. “It’s a very sad business,” the judge said during a break.

Florida has the third-highest foreclosure rate in the U.S. after Nevada and Arizona, according to  RealtyTrac, the Irvine (Calif.)-based data firm. One in every 34 housing units — double the U.S. average — was in the foreclosure process or  bank-owned as of Sept. 1. Florida’s legislature appropriated $9.6 million this year to hire semi-retired judges and case managers to preside over foreclosure hearings such as those in Tampa, which have come to be known as “rocket dockets.”

Full yahoo News Story Here…

2 Comments

  • litgant says:

    Taylor is a robo-judge. Does she read the files to make sure everything is there as required by law? No. She rubber stamps the foreclosures based upon plaintiff attorney allegations. Many of these foreclosures can be vacated if the owners will come forward and hire an attorney and check the proceedings for fraud by the banks and mortgage companies. In many cases the home owners were not served or not served properly. In some, the original complaint pleadings of the plaintiff were fraudulent and contains lies. Based upon these lies some home owners were intimidated and scared not to answer these law suits and simply packed up and fled. The threats made on the telephone weeks and months before the suit was filed prepared them to surrender and flee. Then for some the liars that they are, the banks and lenders told many they could not have a mortgage modification unless they were three months in arrears. So they went three months in arrears and then tried to get a HAMP only to be told they did not qualify because they were three months in arrears. Some were told they coudlo be refinanced after a six month trial modification. And all the while a foreclosure was in the offices of the robo-lawyer mills. Banbk of America is a large banking ponzi scheme. This bank needs to die the same day MERS dies. All America needs to take their money out of this bank this very minute. Kill this snake by not feeding it deposits.

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