Florida Foreclosure Defense Lawyers Blog

In Florida, a lender can only foreclose on real property by conducting a judicial foreclosure. A judicial foreclosure is a foreclosure processed through the court system, which begins when the lender files a complaint and records a Lis Pendens in the county's public record. In any foreclosure process, there are certain notice requirements that must be followed before a foreclosure sale can be set or conducted.

In Florida, the homeowner is generally noticed of a foreclosure when they are served with a summons and complaint of the pending foreclosure. If a homeowner is never served with a summons or complaint, a foreclosure sale date or actual sale may be set aside if it can be proved you were never served or improperly served with a summons and complaint.

Additionally, in Florida, the foreclosure sale also must be noticed. The notice must be published consecutively for a minimum of 3 weeks. The last publication cannot be less than 5 days before the scheduled sale date. The homeowner has an absolute right to redeem the property at any time prior to the sale, but there is not right to redeem the property after the sale has been conducted. The homeowner can redeem the property by paying the full amount that is due and owing to the lender.

If your foreclosure sale date has passed in Duval County, Clay County or St. Johns County Florida and you were never served with a foreclosure complaint or summons, contact a Florida Foreclosure Defense Lawyer or a Jacksonville Foreclosure Defense Lawyer today for a free case review.

Bank of America was fined yet again, when it was found liable for the firing of an employee responsible for discovering fraud at Countrywide. The employee was fired in direct violation of whistleblower protection laws, said the U.S. Department of Labor. The employee will receive now $930,000 in damages and will also be reinstated.

Countrywide was the biggest subprime loan provider in the U.S. which essentially means they were lending money to substantially unqualified homebuyers with the weakest credit. This fine should send a message to the Banks - one that lets them know loud and clear that they cannot break the rules, and if they do punishment will be swift.

The Florida Foreclosure Defense attorneys have always been dedicated to keeping Banks honest. When faced with Florida Foreclosure Lawsuit contact a Jacksonville Foreclosure Lawyer or a Florida Foreclosure Defense Lawyer.

A new Federal Reserve study has evidenced that more than 2.3 million borrowers were prevented from refinancing their homes in 2010 due to strict lending standards and a steep decline in the value of many homes. The study validates the struggles lawmakers have faced when trying to encourage homeowners to refinance their homes in order take advantage of the historically low interest rates, something many mortgage industry experts have pointed to as a potential cure for the current state of the U.S. housing market.

The study found that many homeowners would have qualified for home refinances just before the mortgage bubble burst, but stringent lending standards prevented many from doing so. As a result, many homeowners were left holding the bag and owe more than their home is currently worth. 7.9 million home mortgages, which include refinances, purchases and other forms of loans, were made in 2010, a from from the peak of 21.5 million in 2003. The report evidences the failure of the 2009 Home Affordable Refinance Program which, to date, has only enrolled 830,000 homeowners, a number far below the millions of homeowners it was expected to aid.

If you are facing a Florida Foreclosure Lawsuit and were denied a mortgage modification or a mortgage refinance, contact a Jacksonville Foreclosure Defense Lawyer or a Florida Foreclosure Defense Lawyer today to determine what foreclosure alternative options may be available to you.

A 63 year-old California woman has finally received her wish after a nearly a year and a half of fighting, a meaningful mortgage modification on her home of 27 years. The woman was evicted from her home by Alameda county Sheriff's Deputies in 2010 but on January 19, 2011 she took a bold step in an effort to get her home back...she hired a locksmith to change the locks on her home and she began to "squat" in the home.

Since re-entering her home, the woman has launched a crusade to get her mortgage modified. She sued Wells Fargo in federal court and when her case was dismissed she appealed the decision without the help of a lawyer. She has had California state legislators write to Wells Fargo on her behalf, had community organizers "blast" Wells Fargo's offices with emails and phone calls, confronted Wells Fargo Regional Vice President at a meeting arranged by the Oakland teachers' union and even been lead away in handcuffs after interrupting Wells Fargo's annual shareholders meeting.

A Wells Fargo spokesman has stated the deal reduces the principle amount of the woman's loan from $484,000 to $365,000, but said the company modified the loan "because we want to keep homeowners in their homes", not as a result of any of the antics of the homeowners. The principle reduction reduces the homeowner's payment by about $500 per month.

A Jacksonville Foreclosure Lawyer does not recommend taking such extreme actions when trying to prevent foreclosure of your home. If you are facing a Florida Foreclosure Lawsuit, contact a Jacksonville Foreclosure Lawyer or a Florida Foreclosure Lawyer today for a free case review to determine what foreclosure defense options may be available in your case.

Add "foreclosure help line" to the extensive list of catchy 800 numbers being advertised today. Although the phone number has not been established yet, 1-800-4CFRAUD seems like an apt set of digits. That's because the hotline is supposed target homeowners who fear they were harmed by problems in processing foreclosures over the last couple of years.

The telephone number is being established in response to an outcry from residential mortgage regulators to banks to fix the problems in their foreclosure procedures. This comes after finding that nearly 14 lenders filed foreclosures improperly or without the correct amount of man power to handle all of the filings. In response, regulators have expressed a desire to establish a single way to review cases rather than each mortgage company using their own procedure. Hopefully this will provide the necessary consistency and transparency homeowners did not receive when dealing directly with many mortgage lenders.

Contacting a help line is another link that could help stave off foreclosure for many struggling homeowners. If you are facing a Florida Foreclosure Lawsuit, contact a Florida Foreclosure Defense Lawyer or a Jacksonville Foreclosure Lawyer today for a free initial consultation in order to determine what options may be available to you.

Droves of repossessed and soon to be repossessed homes that have been driving down U.S. housing markets are dwindling, according to Standard and Poor's. The analysts issued a new report on the current shadow inventory of homes, which includes all outstanding properties whose borrowers are 90 days or more delinquent, those currently in foreclosure and foreclosed properties that have not yet been re-sold. The agency's assessment found that the supply of distressed homes in the US fell for the first time since mid-2009 and determined the time-to-clear the market's distress could be as little as 47 months.

S&P acknowledged that although the amount of residential mortgages remains extraordinarily high, the number of distressed properties has been falling since early in 2010. Even so, the shadow inventory will continue to affect the housing market as these homes sit through court delays.

One thing that is important in lowering the shadow inventory is cutting the liquidation times of homes. With the foreclosure courts being backlogged, the foreclosure timeframe only grows longer. If you are facing, or will be facing, a Florida Foreclosure Lawsuit, contact a Jacksonville Foreclosure Defense Lawyer or a Florida Foreclosure Lawyer today for a free consultation.

It has been the federal government's policy to foster home-ownership for years. However, in the wake of the piles of foreclosure cases that have been filed throughout the United States, the federal government is now evaluating the possibility of encouraging lenders and investors to rent the homes they have foreclosed upon.

Currently, the Obama administration is considering a plan to help subsidize the quasi-governmental mortgage lenders, Fannie Mae and Freddie Mac, who are among the investors who buy homes that have been foreclosed upon. A new bill has been introduced into Congress that would allow Fannie Mae, Freddie Mac and other banks to rent these home for up to 5 years to the existing occupants or new tenants.

Of course, there are critics to this proposal as economists assert the housing market is beginning to stabilize with foreclosure activity slowing and home prices holding level. Economists do not think involvement by the federal government at this time in the single-family home rental market will have any more success stabilizing the housing market as other federal intervention programs have had in the past. One economist urges the only way to fix the foreclosure crisis is to give it more time.

However, those who support the bi-partisan bill, HR 2636, say "in today's economic, with weak home sales, converting foreclosed houses to rentals would get foreclosures off the market more quickly and lessen the decline in home prices."

If you are facing foreclosure and want to avoid possibly having to rent your home from one of these investors, contact a Jacksonville Foreclosure Lawyer or a Florida Foreclosure Defense Lawyer today for a complimentary case review and to determine what foreclosure defenses may be available to you.

A condominium association in Miami, Florida has sued JPMorgan Chase & Co. (JPMorgan) to take control of a condo unit. The suit, filed in February 2011, alleges JPMorgan stalled foreclosing on a condo unit for four years, in an effort to not pay the HOA dues. A Miami judge in June found that JPMorgan had lost its claim to the property after allowing more than four years to pass without foreclosing on the property; allowing the owner to live in the unit for free.

JPMorgan, by stalling the foreclosure, made the other unit owners pay additional homeowner association (HOA) dues in order to make up the loss of not receiving the HOA dues owed on that unit. One unit owner said, "I find it an outrage that the bank had decided to do nothing and the other owners got stuck." The unit is now for sale by the HOA who is hoping to stale bankruptcy proceeds with the sale.

Condo associations are beginning to take matters into their own hands as banks stall more and more foreclosures. Banks, by allowing delinquent homeowners to continue to live in the property for free, are also allowing HOA dues to go unpaid. Too often delinquent homeowners are also not paying their HOA dues, which is causing major financial problems for HOAs who depend on HOA dues to continue running. HOAs are beginning to pressure banks to speed up foreclosures and take over HOA monthly dues. The extreme is forcing banks to lose their rights to the property like this Miami condominium association did.

If your HOA dues continue to increase while banks stall foreclosing on other units in your complex and you are facing foreclosure, contact a Florida Foreclosure Defense Lawyer or a Jacksonville Foreclosure Lawyer today to have your case reviewed and to determine what foreclosure defenses may be available to you.

In Florida, a lender can only foreclose on real property by conducting a judicial foreclosure. However, some states allow foreclosures through a non-judicial foreclosure process. A judicial foreclosure is a foreclosure processed through the court system, which begins when the lender files a complaint and records a Lis Pendens in the county's public record. On the other hand, a non-judicial foreclosure is conducted completely separate and apart from the court system. In non-judicial foreclosure states, the requirements are established by the state's statutes.

In either type of foreclosure process, there are certain notice requirements that must be followed before a foreclosure sale can be set or conducted. In Florida, the homeowner is generally noticed of a foreclosure suit when they are served with a summons and complaint of the pending foreclosure. If a homeowner is never served with a summons or complaint, a foreclosure sale date or actual sale may be set aside if it can be proven the homeowner was never served or improperly served with a summons and complaint.

Additionally, in Florida, the foreclosure sale must be noticed. The notice must be published consecutively, in a paper in general circulation, for a minimum of 3 weeks. The last publication cannot be less than 5 days before the scheduled sale date. The homeowner has an absolute right to redeem the property at any time prior to the sale, but there is not right to redeem the property after the sale has been conducted by paying the full amount that is due and owing to the lender.

If your foreclosure sale date has passed in Duval County, Clay County or St. Johns County Florida and you were never served with a foreclosure complaint or summons, contact a Jacksonville Foreclosure Lawyer or a Florida Foreclosure Defense Lawyer to explore what foreclosure defense options may be available to you.

According to the latest numbers from mortgage industry tracking company RealtyTrac Inc., the number of households that received an initial default notice, which is the first step that must be taken to begin the foreclosure process, jumped an incredible 33% from July to August. The spike represents the largest percentage increase in four years and constitutes a 9 month high.

RealtyTrac senior VP, Rick Sharga, has stated that this is the first time they have seen such a increase in default notices. While it may be an aberration, Sharga said "I think its much more likely we're seeing the beginning of a trend here." New foreclosure actions were slowed down last fall as allegations of shoddy foreclosure processes by the nations largest lenders came to light.

All to,ld, 78,880 properties received a default notice in August. While August's numbers are up, they are down 18% from the August 2010 numbers. While the foreclosure numbers are on the rise, RealtyTrac says it may be beneficial for housing recovery, as overall home prices are not likely to rebound while there are still potentially thousands of unaddressed foreclosures "hovering over the market."

If you are one of the thousands of new homeowners who have received a default notice from your mortgage company, contact Jacksonville Foreclosure Lawyer or a Florida Foreclosure Defense Lawyer today for a free consultation in order to determine what foreclosure defense options may be available to you.

In the year 2073, courts in New York will finally be able to breathe a sigh of relief: that's the year they will finally be rid of all of the foreclosure cases currently on their dockets. That is, at their current pace, it will take another 62 years for lenders to finally be rid of their current foreclosure cases!! This is the longest waiting period in the country.

Other states facing long waiting periods are New Jersey, which will take 49 years, and Florida, Massachusetts, and Illinois, all of which would take nearly a decade. This is in contrast to states that don't use their courts for foreclosure proceedings. For example, California has a 3-year waiting list, while Nevada and Colorado have 2-year lists.

Some legal authorities in Florida have suggested that banks aren't even doing anything to clear their cases. One South Florida attorney currently has 1,275 foreclosure clients; last year he had only 350. All but 75 of his current cases remain pending. J. Thomas McGrady, Sixth Circuit Chief Judge, says banks are largely to blame for the backlog. "We're here to do what we're asked ... [But] the banks aren't asking."

Banks claim the delay is due to the legal hoops and regulations in the law they have to jump through. However, this does not excuse banks from using illegal methods such as "robo-signers" to mass-produce documents. We've written before about the robo-signing scandal and how it does not seem to be completely over. If you are facing foreclosure, contact a Florida Foreclosure Defense Attorney to discuss the best legal and financial options which may be available for you.

Online bill-paying systems make paying bills easier than ever, leading many people to pay for bills on a date more convenient for them - instead of waiting for the physical reminder in the mail. However, you might want to think twice about paying too early. For one South Florida woman, paying too early left her in foreclosure.

Sharon Bullington is 78 years old and lives with her terminally ill husband. Though they are currently underwater on their mortgage, the couple wanted to remain in their home. Bank of America approved a loan modification with one caveat -- the Bullingtons had to officially "default" on their payments before beginning the modified payment plan. Their payments were reduced, and Mrs. Bullington made her first payment under the plan on December 23. However, that payment was meant to apply for the following month of January. She made another payment in January, however the money remained in her banking account for some time. When she asked the bank why they hadn't withdrawn the money from her account, they told her she entered the wrong routing number. The bank then kicked the Bullingtons off the modification plan.

Mrs. Bullington wrote to Bank of America's president, Brian Moynihan. His assistant informed Mrs. Bullington that payments must be made in the month in which it is due. Further, once initiated, foreclosures cannot be stopped. In other words, because Mrs. Bullington made her January payment in December, she didn't pay it "in the month it is due." Bank of America accepted her payment, but nevertheless foreclosed on her.

Mrs. Bullington has received a fare amount of media attention, and Bank of America says it will take another look into the case. While Mrs. Bullington's case is an extreme example of tactics banks may use, it is important to remember that thousands of Floridians are still facing foreclosure. If you are facing foreclosure, you should contact a Jacksonville Foreclosure Defense Attorney to discuss what options may be available in your individual case.

A Detroit homeowner is bringing suit against her two lenders after she was denied a loan modification, which, if she prevails could start a trend of denied homeowners running to court to sue their lenders. The homeowner, who could no longer afford her mortgage payments after getting a divorce, applied for the Federal Home Affordable Modification Program (HAMP) in an attempt to save her home. Her lender, Bank of America, told her she had to be behind on her mortgage before she could be considered for HAMP.

So, taking the advice of Bank of America, she stopped making her mortgage payments. Shortly after missing her payments, she received a letter from Bank of America approving her for a temporary modification but a short time later she received an additional letter from Bank of America saying her modification was denied because she made too much money. As a result, the homeowner has sued both Bank of America, the servicer, and Fannie Mae, the owner, for inducing her default then denying her modification. Bank of America says that Fannie Mae, as the owner of the loan, is the entity that denied the modification.

Hopefully, the homeowner prevails in this suit as millions of homeowners experienced similar circumstances when attempting to get HAMP modifications. Many people have called the HAMP program an abject failure as the majority of those homeowners who obtained loan modifications fell out of their modifications, either forcibly or voluntarily. If you are facing a Florida Foreclosure Lawsuit, contact a Jacksonville Foreclosure Defense Lawyer today to see what foreclosure alternative options may be available to you.

Kamala Harris, California's Attorney General, has sued three law firms, four lawyers and 14 other companies for what inducing struggling homeowners across the nation to pay thousands of dollars in fees to file mass lawsuits against mortgage lenders. Harris said the entities took advantage of homeowners' frustration with both lenders and mortgage servicers. Many states, including Florida, have laws banning the charging of advanced fees for loan modification services.

According to Attorney General officials, the defendants solicited homeowners in 17 states with fees of up to $10,000 from each of the 2,500 borrowers to participate in the "mass joinder" lawsuit. The defendants misled borrowers into believing hiring them would help avoid foreclosures or obtain loan modifications. Instead of getting good legal advice, once a homeowner paid the retainer, the defendants were uncommunicative and homeowners were unable to get answers to even the simplest questions.

Hopefully, other state AG's will take a page from Mrs. Harris' book and stand up to the predators trying to take advantage of the desperation of struggling homeowners. If you are facing a Florida Foreclosure Lawsuit, contact a Jacksonville Foreclosure Lawyer today to determine what foreclosure avoidance options may be available to you.

Courts in Florida cleared greater than 200,000 of the backlogged foreclosure cases that were plaguing the system in 2010. These numbers represent a nearly 43% decline in outstanding foreclosure cases. The $6 million allocated by the Florida Legislature to establish the foreclosure "rocket docket" courts and clear the backlog but the effectiveness of the special courts have been called into question and the 2010 numbers evidence they may not have been as effective as the total number of disposed cases initially leads Floridians to believe.

Almost half of the disposed cases due disposed of due to dismissals by Plaintiff banks. Dismissals can occur for several reasons, ranging from a mutual agreement via mediation to voluntary dismissals on the part of bank. A total of 104,126 were dismissed in this fashion in 2010. Many foreclosure observers are pointing to two primary reasons for the high number of dismissals: 1) the voluntary dismissals on the part of banks due to errors or fraud in the creation of foreclosure related documents and 2) the closing of giant "foreclosure mill" the Law Offices of David J. Stern without officially withdrawing from its cases, which put thousands of cases in limbo.

The unfortunate thing that is hidden by this seeming relief from the foreclosure backlog is that most of the dismissed cases will be refiled. if you are currently facing, or will be facing in the near future, a Florida Foreclosure Lawsuit, contact a St. Augustine Foreclosure Lawyer today for a free consultation to determine what foreclosure defenses may be available to you.

The July housing numbers are out and they do not paint a positive picture for the U.S. housing market. Sales of existing homes unexpectedly fell 3.5% in July, an annual rate of 4.67 million, a sharp decline from the June rate of 4.84 million. While these numbers are evidence of what could be a coming potential downward trend in housing, they still constitute a 21% increase in existing home purchases from July 2010. At the current rate of sales, it would take 9.4 months to sell the outstanding inventory on the market.

Along with the overall housing numbers, the median home price fell 4.4% from the July 2010 numbers. The national median home price now stands at $174,000 which makes is the most favorable record dating all the way to 1970. While the median home price has fallen to almost unprecedented levels, many borrowers have found it difficult to secure financing, lenders are only lending to the most highly creditworthy borrowers.

The flood of foreclosed homes on the market is directly responsible for a great deal of the depression of home prices the nation is currently facing. If you are facing a Florida Foreclosure Lawsuit, contact a Jacksonville Foreclosure Defense Lawyer today to determine what foreclosure prevention options that may be available in your particular circumstances.

As the nation at large struggles to find solutions to the foreclosure crisis, Harvard law students are doing their part to ensure low income residents of the Boston area receive the representation necessary to prevent wrongful evictions. The program, dubbed project "No One Leaves", began in 2008 and has helped keep many Boston neighborhoods alive by utilizing creative legal methods to get banks to change their foreclosure tactics.

Each week, members of the project gather a list of all newly filed foreclosures and create a database for law students to go out into the communities to contact those homeowners. One of the most beneficial developments that project No One Leaves has garnered for area residents was getting many banks to sell foreclosed-on properties to tenants or the former homeowners at current market prices, which in many cases represents 40%-60% less than what is outstanding on the mortgage.

There are many groups across the nation that are doing similar work in representing low income homeowners who are facing foreclosure. If you are facing a Florida Foreclosure Lawsuit, contact a Jacksonville Foreclosure Defense Lawyer or a St. Augustine Foreclosure Defense Lawyer, today for a free consultation to see what foreclosure alternatives may be available to you.

Wells Fargo, which purchased Wachovia in 2008, has reached a settlement with investors which claimed Wachovia misled investors on the sale of securities between 2006 and 2008. Investors have accused Wachovia of intentionally misrepresenting the "quality of assets linked to the mortgage portfolio of Golden West Financial." The marketing material in question emanates from the marketing of 30 bond and security sales which totaled more than $35 billion, much of which came from "pick-a-pay" loans or option adjustable rate mortgages.

Mary Eshet, a spokesman for the bank, agreed to the $590 million settlement "in order to avoid the distraction, risk and expense of on-going litigation" and "does not constitute an admission of Wells Fargo of liability or any violation of law by Wachovia." Attorney's representing the investors stated "these settlements reflect an outstanding result for bond and preferred security purchases who were damaged as a result of false and misleading offering materials."

As many investors take to the courts to try to undo the damage done to them by the unscrupulous lending activities by many banks, where is the justice for the homeowners. If you are facing a Florida Foreclosure Lawsuit, contact a Jacksonville Foreclosure Defense Lawyer to determine what foreclosure defenses may be available to you.

In the age of 'robo-signing' and other witty phraseology, a new term has arisen and it may be central to a recent lawsuit filed against Lender Processing Services (LPS) by American Home Mortgage Servicing, Inc. (AHMSI). AHMSI alleges they've faced millions of dollars in losses that were incurred when DocX, an LPS affiliate, acted improperly in processing and recording nearly 30,000 mortgages. Central to the case is DocX's alleged use of "surrogate signers."

AHMSI hired DocX to process and record lien releases, mortgage assignments and other documents for AHMSI from 2008 until late 2009. It was at that time LPS informed AHMSI that the "surrogate signers" signed thousands of documents instead of the actual officers AHMSI originally scheduled to do the work. AHMSI immediately fired DocX upon learning of the problem.

Since the debacle, AHMSI has undertaken a large-scale remedial effort focused on correcting the assignments in question. These efforts include many legal issues and problems that span the Country, and of course substantial expense for AHMSI. LPS does not deny the surrogate signed documentation but instead insists they should not be penalized as they curbed the practice upon its discovery and offered AHMSI reimbursement for costs. AHMSI says such discussions have been unsuccessful, however.

The above situation outlines the importance of hiring well and what can happen when one does not. So remember, if you are facing the realities of foreclosure, contacting a or Jacksonville Foreclosure Defense Lawyer or a Florida Foreclosure Defense Lawyer can be in important first step in defending your home.

Wells Fargo, the fourth largest U.S. bank by assets, has announced it may be forced to buy back an additional $1.8 billion in failed mortgages, on top of the already billions of repurchase calls it has already received. The latest call for buybacks comes from investors outside the initial investors which requested buybacks. A Wells Fargo representative stated that in a worst case scenario mortgage repurchase claims could potentially exceed the reserves the bank set aside to deal with repurchase requests.

The repurchase requests come from the origination and securitization of sub-prime loans that have defaulted and in turn become toxic. Investors in mortgage backed securities can require a bank to buy back loans if the underlying mortgages do not comply with the representations and/or warranties made by the bank at the time the securities were purchased. Wells Fargo is the largest U.S. Bank to project its worst case scenario, but Wells Fargo repurchase claims have declined for the four quarters since the second quarter of 2010.

Wells Fargo is just one of the national banking giants that is facing and will continue to face billions of dollars in mortgage repurchase requests stemming from its actions in originating mortgages it knew would go bad. If you are facing a Florida Foreclosure Lawsuit from Wells Fargo, contact a Florida Foreclosure Defense Lawyer or a Jacksonville Foreclosure Defense Lawyer today.

ThinkProgress.org is reporting that a former VP with Goldman Sachs changed his name and later went to work with California Congressman Darrell Issa. Last month, Issa apparently sent a letter to government regulators asking that they provide justification for the government's new regulations. Such letters are usually not written by congressmen themselves; instead, members of their staff usually write letters many of these letters for them. It's common for the letters to conclude with the name of the actual author, and some of Issa's letters were apparently written by a Peter Haller.

The letter Mr. Haller wrote on Mr. Issa's behalf resembles many in the banking industry's desire to avoid governmental regulations on derivatives -- derivatives similar to the ones that helped bring down the economy in 2008. The problem is that Mr. Haller is actually Peter Simonyi, a former Goldman Sachs VP who left the bank in 2008. Further, Mr. Issa sits on the Oversight Committee, which traditionally investigates major corporate scandals but has recently shifted away from that.

This allegation is another cog in the wheel of the banking industry's recent scandals, including robo-signing and illegal repossessions. If you are facing a Florida Foreclosure Lawsuit, contact a Jacksonville Foreclosure Defense Attorney today for a complimentary consultation.

Recently, it has come to light that the Florida Lawmakers are considering a bill entitled the "Florida Fair Foreclosure Act" which would change the procedures surrounding foreclosures in the state. The bill, if enacted, could significantly speed up the foreclosure process while robbing homeowners of some remedies surrounding foreclosure, such as setting aside wrongful foreclosures as well as seeking their attorney's fees when a foreclosure case is dismissed in the homeowners favor.

One of the most troubling segments of the new law would be the elimination of Florida Statute 57.105 which governs attorney's fees in foreclosures cases. Without the ability to homeowner's attorney or homeowner's to be able to recover fees associated with foreclosure, while simultaneously allowing for fees for mortgage companies, could potentially make it very difficult for struggling homeowners to find a foreclosure defense attorney to take their case.

While this law had not yet been enacted, it is still potentially damaging to homeowners. If you would like to see this bill defeated, contact your local state representative and voice your opposition. If you are facing a Florida Foreclosure Lawsuit in the Jacksonville area, contact a Jacksonville Foreclosure Lawyer or today for a complimentary consultation to determine what foreclosure defense options may be available to you.

To read the full text of the proposed Florida Fair Foreclosure Act click Fair-Foreclosure-Act.pdf.

Bank of America has reportedly sold its servicing rights to 400,000 of its home loans to Fannie Mae for a $500 million, according to a recent Wall Street Journal report. The principal balance remaining on the loans is reported at $73 billion. The move comes shortly after Bank of America CEO Brian Moynihan indicated during a CNBC interview that the sale was pending. The deal begins with the first batch of 100,000 loans to be transferred starting in September.

While Fannie Mae does not usually provide loan servicing functions, they do facilitate transfers of mortgage pools between servicers. A Bank of America spokesperson indicated that the bank would be selling additional mortgage servicing rights over the next year, so look for future additional news in this regard.

Hopefully by handing their reins off to different servicers, the mortgages involved in this sale will get the attention necessary to move along more smoothly. If you are facing a Florida Foreclosure Lawsuit from Bank of America, contact a Florida Foreclosure Defense Lawyer or a Jacksonville Foreclosure Lawyer today for a complimentary consultation to determine what foreclosure alternatives may be available in your case.

Joe Jacquot, a former Deputy Attorney General under former AG Bill McCollum, has gone on the defensive after it became public knowledge he left his government post to take a position with Lender Processing Services (LPS), a foreclosure services company being investigated by the Florida Attorney General's office. HIs actions come as a result of much public scrutiny into the firings of two investigators in the AG's office, as well as several former employees taking jobs with actors in the foreclosure industry. Those moves have caused so much public outcry that three democratic lawmakers have introduced legislation to prevent lawyers for government agencies from leaving their posts to go to work for entities under investigation by the state.

Jacquot recently gave an interview defending his move to LPS, saying he disclosed his interest in potentially taking a position with LPS to McCullom and asked that he be kept completely in the dark regarding any potential investigation into the practices of LPS. As one of the top deputy's to McCullom, it was possible that Jacquot may be asked about the LPS case but that after his disclosure McCullom did not involve him in any aspects of the case and the he was effectively "walled off" from any discussions regarding LPS

To date, there has been no word from the AG's office regarding the investigation into the foreclosure practices of LPS. If you are facing a Florida Foreclosure Lawsuit, contact a Jacksonville Foreclosure Defense Lawyer or a Florida Foreclosure Defense Lawyer today to explore potential foreclosure defenses that may be available to you.

In July of 2010, the Tampa Bay area saw more than 6,000 people received some kind of foreclosure communication. That number includes initial foreclosure filings, notices of foreclosure sale or repossession notices. That number fell to just 2,751 in July 2011, a nearly 54 percent decrease in people receiving foreclosure paperwork. To some, this signals a national trend that the foreclosure crisis has reached its peak.

Advocates that the foreclosure crisis has peaked cite a number of possible reasons to support their contention.One potential possibility is that lenders are being cautious in filing because of the new allegations of robo-signing and potential falsification documents. But even if that is the case, the government emphasis on curbing foreclosure fraud has helped the number of foreclosure filings remain at bay as lender have grown more cooperative in striking deals with homeowners. This could be because the government is applying pressure on lenders behind the scenes or because the task of proving ownership appears to be a daunting one, too burdensome for lenders to undertake.

This doesn't mean the housing market is in the clear just yet, although the "big drop" in foreclosures from July 2010 to July 2011 hopefully means the nation has weathered the worst of housing woes. In fact, National foreclosure filings in July 2011 were down 35 percent from where they stood in July of 2010.

Just because foreclosure filings are down now doesn't mean that they won't jump up again in the future. If you should receive a Florida Foreclosure Lawsuit, be sure to contact a Florida Foreclosure Lawyer or a Jacksonville Foreclosure Lawyer as soon as possible to determine the best way to proceed.

Apparently the office of the Florida Attorney General is becoming quite the place for attorneys to cut their teeth before moving on to more lucrative positions with many of the primary actors in the Florida foreclosure industry. In recent months, the director of the Economic Crimes Division for the Florida Attorney General's office has taken a position with "foreclosure mill" Law Offices of Marshall C. Watson, a former deputy Attorney General has been hired by Lender Processing Services and a former Broward County Judge announced he was leaving his judicial post also to work with the Watson firm.

All the moves prompted assistant state attorney general Andrew Bennett Spark, of the Tampa office of economic crimes, to write a 16-page memo he distributed to several Florida media outlets. The memo outlines several concerns Mr. Spark has with the overall AG's office while focussing on the firing of two former state foreclosure investigators and the flight of staff members to foreclosure companies. Mr. Spark wrote "the people of the State of Florida are entitled to fair and honest government, independent of personal connections and powerful interests."

The Law Offices of Marshall C Watson has responded saying their hirings are within the ethics code and having such experienced counsel overseeing the litigation and compliance departments will "further enhance our practices" and prevent the unethical practices that were rampant in previous years.

If you are one of the thousands of Floridians facing a Florida Foreclosure Lawsuit, contact a Jacksonville Foreclosure Defense Lawyer or a Florida Foreclosure Defense Lawyer today for a free consultation to determine what foreclosure alternatives may be available to you.

The Massachusetts Attorney General Martha Coakley has reached the agreement with mortgage originator Option One in response to claims of unfair and discriminatory subprime mortgage practices. The settlement requires the company to direct its loan servicer to give $115 million in principal forgiveness through monthly loan payment reductions and part of $9.8 in restitution to its borrowers, with the remainder going to the State. As a result of the roughly $125 million settlement, about 5,500 homeowners in Massachusetts will be eligible for a permanent home loan modification.

The allegations against Option One included allegation they gave out loans to borrowers they new were likely to fail in making their monthly mortgage payments. Ms. Coakley claims Option One knew or should have known that the homeowners would fail to repay their mortgage. Furthermore, Ms. Coakley claimed that discrimination was used as a regular part of the Option One business model.

The findings Coakley unearthed about Option One include the fact that nearly 4,000 borrowers were given loans with 45 percent debt-to-income ratios! 40 percent of the loans issued by Option One went 90 or more days late, four times the amount of serious delinquencies of Federal Housing Administration Loans. Finally, Black borrowers paid nearly $400 more, and Latino borrowers nearly $500, in fees compared to that paid by their white counterparts.

Coakley is the first Attorney Generaly to really stand alone against mortgage scandals in and should be celebrated as a sea of inactive states attorneys watch from the sidelines. With recent reports of Florida State Attorney Pamela Bondi firing two lawyers investigating foreclosure practices of major companies, it may be a time to re-look at our public advocates in a number of states.

For Floridians facing foreclosure, it appears as if it will be a while before any settlements are reached with mortgage originators on our behalf. If you are facing a Florida Foreclosure Lawsuit, contact a Jacksonville Foreclosure Defense Lawyer or a Florida Foreclosure Defense Lawyer today.

The Florida Attorney General Pam Bondi's office has drawn heavy fire over the last month from activities in their foreclosure defense department, namely, the forced resignations of June Clarkson and Theresa Edwards. The two at one time succeeded in outing one of the largest financial scams in the country by uncovering foreclosure mills such as the Law Offices of David J. Stern and cases of "robo-signing." Many critics are saying the firings were too convenient, as the women had just began investigating the practices of Lender Processing Service (LPS) and ProVest, companies involved in what may be a massive system of foreclosure fraud. Worse yet, recent reports may have pinned a motive on Bondi's office regarding the force-outs, citing thousands of dollars in campaign contributions to her from LPS and ProVest and a former deputy AG, Joe Jacquot, joining the ranks of LPS leadership.

As of now, Attorney General Bondi has taken a big step toward alleviating some of the pressure by announcing an independent internal investigation into the wrongful firing accusations by Florida Chief Financial Officer Jeff Atwater. But issues have even begun to surface in these investigations, as a simple internet search will show that Mr. Atwater also took contributions during his 2010 campaign from LPS, ProVest and their affiliates, as well as from Ms. Bondi herself.

An explanation of just what is going on in the Florida AG's office could answer big questions about the foreclosure crisis that has rocked the US economy.

If you are a Florida Homeowner and you are currently facing foreclosure contact a Jacksonville Foreclosure Lawyer or a Florida Foreclosure Defense Lawyer today for a complimentary case review to determine what foreclosure alternatives may be available to you.

In the great majority of foreclosure cases, the first mortgage holder is usually the one that brings the foreclosure action. But what about when there is a second mortgage involved? The second mortgage may file a foreclosure just to protect interest in the property, but this is a rare occurrence for several reasons.

While a second lien holder can file for foreclosure, due to the dramatic decline in home prices, only the first mortgage holder will usually get paid via any sale or auction that takes place. Since these home sales usually involve interested buyers looking for relatively cheap homes, the house usually sells for much more than is owed on the mortgage. Since there is likely not enough money to even pay off the property taxes, and potential homeowners association arrearages and first mortgage after the sale, it just doesn't usually make financial sense for the second mortgage company to initiate the foreclosure proceeding. But of course, that doesn't mean that second mortgage holders cannot or will not file a Florida Foreclosure Lawsuit.

If you are facing a Florida Foreclosure Lawsuit from the holder of the second mortgage on your home, contact a Jacksonville Foreclosure Defense Lawyer or a Florida Foreclosure Defense Lawyer today to determine what options are available in your particular case.

When Chase Bank threatened to sell Mardee Jerde's home in foreclosure, Ms. Jerde's was determined to do all she could to save her home of 16 years. Sure, Ms. Jerde was having trouble making her mortgage payments, but there is a very personal and understandable account of how Jerde got to that point. An explanation Chase is unwilling to consider in granting Jerde a permanent loan modification.

In March of 2008, Marde was involved in a car accident that left her injured and unable to work. She could no longer afford her greater than $1,700 mortgage payment, so she immediately made contacted with her bank. Chase agreed to a trial loan modification, but it wasn't until July 2009 that she was able to make another payment. She made modified mortgage payments of nearly $900 until June of 2010, when Chase came knocking. They sent a letter seeking almost $50,000 in overdue payments and past due amounts.

The craziest part of all of it all is that Jerde upheld her responsibility, and sent Chase the money! She used the settlement money she received from being in the car accident to do make the payment. Chase ultimately denied her the permanent loan modification, leaving Ms. Jerde broke and with few options.

Stories like this make it appear that Chase and other banks will offer a helping hand and then immediately turn their back without upholding their end of the bargain. If you are in foreclosure talks with a bank, don't just send them money because they say it will increase the likelihood of getting a loan modification. If you are exploring the possibility of a mortgage modification with your bank, contact a Jacksonville Foreclosure Lawyer or a Florida Foreclosure Lawyer today to review the modification paperwork in order to ensure the deal is right for your individual circumstances.

Amid reports of a widespread mortgage backed securities investor uprising and a multi-billion dollar lawsuit from AIG comes a account that Bank of America made numerous harassing phone calls to a widow, during her newly deceased husband's wake. A suit brought against Bank of America and various bank entities by the 63-year-old woman alleges the bank called every 15 minutes, to a line set up on speaker phone for people to call in and give their condolences, trying to collect on a missed mortgage payment.

The woman says that she had spoken with Bank of America the day before the wake, making them aware her husband had just died and requesting a 30 day extension to pay on the mortgage, to get her husband's affairs in order. After again speaking to the bank regarding the frequency of the calls, the bank told her the calls were computer generated and would not stop until the past due payment was made. The woman says she and her husband had been current on their payments up to the immediate period surrounding her husband's death.

While this is an extreme example of collection efforts by a bank, it is an important example of the extent some banks will go to in order to collect on your mortgage. If you are currently, or will soon be facing, a Florida Foreclosure Lawsuit, contact a Jacksonville Foreclosure Lawyer or a Florida Foreclosure Lawyer today to determine what foreclosure alternatives may be available in your specific case.