Florida Foreclosure Defense Lawyers Blog

A new report released by the Inspector General shows evidence of poor management of a $2.87 billion dollar mortgage sale from Fannie Mae and Freddie Mac to Bank of America. The focus of the report is the role of the Federal Housing Finance Agency, the regulatory arm tasked with overseeing government mortgage backers Fannie Mae and Freddie Mac. Late last year, the agency's head decided to sell back a large number of bad mortgages and mortgage backed securities to Bank of America. In theory, forcing a lender to buy back the bad loans it originated seems like a great idea, but in this instance it may have been a sweetheart deal.

In the buyback agreement, Bank of America paid $1.35 million to Freddie Mac and $1.52 billion to Fannie Mae. While $2.87 billion seems like a lot of money, but when you do some simple math, it amounts to only $3,679 per mortgage! Critics of the deal state that both Fannie and Freddie could potentially face billions of dollars of losses from the sale of these loans. The Federal Housing Finance Agency called the buyback and the amounts of the buyback "appropriate and reasonable."

Instead of giving Bank of America the underperforming loans at an extremely cheap price, how about giving the homeowners associated with those loans the right of first refusal to buy their home for the amounts their loans were sold to Bank of America. How many homeowners would have jumped at that opportunity. If you are facing a Florida Foreclosure Lawsuit, contact a Jacksonville Foreclosure Defense Lawyer or a Florida Foreclosure Defense Lawyer today to explore what foreclosure options may be available to you.

A new study recently published by the National Bureau of Economic Research purports to have found another link between economic well-being and physical well-being are connected. Study co-author, Princeton Economist Janet Currie, stated "the foreclosure crisis is having a significant impact on mental health as well as on a wide range of preventable conditions that are susceptible to stress."

The study took information on emergency room and hospital admissions related to stress and anxiety from four of the states hardest hit by the foreclosure crisis; Florida, California, Arizona and New Jersey from April 2005 to December 2009. The study found for every 100 foreclosed properties in a community, ER and hospital admissions rose 7.2% for hypertension and 8.1% for diabetes. ER and hospital visits also rose for general conditions caused by stress with anxiety related visits and admissions increasing by 12%.

The study doesn't focus solely on the millions of homeowners going through the foreclosure process, it also highlights the struggles of those paying for a mortgage which is severely underwater. If you are one of the thousands of Floridians facing a Florida Foreclosure Lawsuit, contact a Jacksonville Foreclosure Lawyer or a Florida Foreclosure Defense Lawyer today for a complimentary consultation to determine what foreclosure alternatives may be available to you.

Most people do not realize that when they borrow money to buy a home, they are in actuality signing the biggest check of their life! The promissory note you sign for your home loan is just like a check. A note and a check are both promises, signed by you, to pay a particular named party a specific amount of money. The only person who can cash a check is the person who has signed the back of it, also known as an endorsement.

The promissory note you signed for your home loan goes through the same exact process as if you endorsed your check in blank, it can be passed from person to person. However, foreclosure plaintiffs are trying to cash promissory notes (foreclose on property) with blank endorsements on them. The loan originator endorses the note in blank, thereby allowing it to be transferred among parties without any real evidence of the transfer. This is just one of the many foreclosure defenses that can arise from the transfer of a note or mortgage.

If you are facing a Florida Foreclosure Lawyer, contact a Florida Foreclosure Defense Lawyer or a Jacksonville Foreclosure Defense Lawyer today to determine there are any defenses which arise from the transfer and endorsement of your promissory note. The first consultation is free.

You reached the point where you were no longer able to make your monthly mortgage payments because of a change in your financial situation. Months later, maybe even almost a year later, you were served with a foreclosure complaint and you are now one of the thousands of Floridians facing a Florida Foreclosure Lawsuit. All this comes after numerous failed attempts to obtain a loan modification that would allow you to keep your home.

However, while defending the foreclosure action in the court system, you finally obtain the loan modification you have been begging for. You see the light at the end of the tunnel and feel some much needed relief. Do not get too comfortable just yet. The loan modification you have entered into is probably a trial modification in which you are to make monthly payments for approximately 3 months and then a final modification will be considered. You are ok with this because you really want to keep your home.

However, if you are already in foreclosure, the bank may still be pursuing the foreclosure case on your home during the trial modification period. This may be due to a huge lack of communication. The bank's right hand (legal department) may have no idea what its left hand (modification department) is doing. Even though the different departments are within the same company, they may rarely communicate with each other.

In your circumstance, the loss mitigation department that approved your trial loan modification most likely has not and will not communicate you are performing on a trial modification to the department/law firm pursuing the foreclosure. Therefore, the law firm handling the foreclosure action has no idea you have entered into a trial modification and will continue litigating the foreclosure, leading to a final judgment of foreclosure being entered before your trial modification is over.

So what can you do? You could file a stay with the court. The stay should point out that you have entered into a trial loan modification with the Plaintiff and, as such, you request the court to stay all further proceedings in the foreclosure action until the trial loan modification has ended and you have been considered for a final modification. This may prevent the foreclosure action from moving forward.

It is can be extremely difficult to navigate a foreclosure alone. If you are facing a Florida Foreclosure Lawsuit and have been offered a trial loan modification, contact a Florida Foreclosure Defense Lawyer or a Jacksonville Foreclosure Defense Lawyer today for a complimentary consultation to determine what foreclosure options may be available to you.

In 2006, Fannie Mae hired an outside law firm to investigate allegations of misconduct by the firms it hired to file its foreclosure actions. The outside investigation revealed its foreclosure attorneys in Florida were sacrificing accuracy for speed by filing fraudulent court documents. Fannie Mae was put on notice in 2006 that its foreclosure attorneys working on their behalf were involved in "unlawful" practices, but sat by and did nothing.

Many Florida foreclosure defense attorneys are in agreement that further abuses by attorneys in the so-called foreclosure mills could have been detected and possibly prevented if Fannie Mae would have strengthened its oversight over its retained firms. Last fall's revelations of "robo-signed" documents and the chaos that followed could have been prevented.

The key players were the Plantation-based David J. Stern firm and Ben-Ezra & Katz in Fort Lauderdale. The Law Offices of David J. Stern was Fannie Mae's largest hired firm for Florida foreclosure cases. David J. Stern was fired by Fannie Mae in November 2010, after ex-employees divulged information state investigators that signatures on notarized documents were habitually forged, notary stamps were passed around to non-notaries, assignments of mortgages were created after foreclosure judgments were entered, and flawed files were hidden from federal auditors. David J. Stern, soon-there-after in March, laid off hundreds of employees and shut down its foreclosure practice. Around 100,000 foreclosure cases were left in a state of uncertainty as they waited to be reassigned to different law firms.

In February 2010, Fannie Mae fired Ben-Ezra & Katz. Ben-Ezra & Katz admitted they had found "technical paperwork issues" with is foreclosure files but maintained, "there is no issue of whether the information in the affected files is correct."

If Fannie Mae had practiced better oversight over their foreclosure cases in Florida and across the U.S., the broad reaching negative consequences we are experiencing today potentially could have been prevented. If you are facing a Florida Foreclosure Lawsuit, contact a Jacksonville Foreclosure Lawyer or a Florida Foreclosure Defense Lawyer today to explore what foreclosure options may be available to you.

The Octomom was recently in the news for facing foreclosure on her home. She failed to make payments on her Orange County home for the past three years. The home has also been "let go" and is currently "in shambles".

Octomon did nothing to create a potential foreclosure defense in all this time. She has not done any research or investigation on the property or Bank who allegedly holds the mortgage to uncover potential defenses that could help her keep the property and stay in her home. Octomon has done nothing to try to keep the property and seems content to let it go back to the bank.

Had Octomon done some simple research and investigation, a solid foreclosure defense could have been formed. Now that 85% of U.S. mortgages are securitized into trusts and may not be recorded properly, many homes have disputable chains of title; which may make it very difficult for any Bank to prove they can foreclose on someone's home. Also very common today, is widespread foreclosure fraud with "robo-singers," missing and/or fabricated mortgage assignments, and invalid dates and notaries just to name a few.

If you are facing a Florida Foreclosure Lawsuit, do not make the same mistakes the Octomon has. Contact a Florida Foreclosure Lawyer or a Jacksonville Foreclosure Lawyer today for a free case review to begin discoverying potential defense to your foreclosure.

40% of foreclosure cases backlogged in the Florida Court System has been cut over the last year. A combination of increased efforts by the courts and cases being dropped or dismissed by banks are responsible for much of the relief. The Office of the State Courts Administrator shows that 201,524 foreclosures were disposed of last year (96,630 disposed of by summary and final judgments, 104,126 were dismissed). However, if a foreclosure case was disposed of through a dismissal, it can most likely be refilled. The question is will they be re-filed and when?

Foreclosure cases can be voluntarily dismissed by banks for a number of reasons but most are dismissed due to paperwork irregularities. Numerous news stories have emerged revealing that bank employees signed foreclosure paperwork without first personally verifying information contained in the documents (commonly referred to as "robosigning"). Other paperwork irregularities have included issues regarding proper notarization, erroneous or forged assignments, and missing or erroneously prepared mortgage documents.

The majority of foreclosure actions that were voluntarily dismissed by banks throughout the last year for one or more paperwork issue, will most likely be filed again. But, foreclosure filings have remained at a decreased rate as banks have increasingly been using other means rather than foreclosure to deal with struggling homeowner, including permitting more homeowners to short sale their property, approving more loan modifications, and allowing homeowners to stay in properties until after the final foreclosure sale.

At the end of the 2010-2011 fiscal court year, 260,815 of foreclosure cases that were pending at the beginning of the year (460,000) remained. 117,000 new cases were filed within the year (which is lower than what was expected). As of June 30, 2011, the number of foreclosure cases pending in the court system is 378,000.

If you are facing a Florida Foreclosure Lawsuit or have had your Florida Foreclosure Lawsuit voluntarily dismissed by your bank, contact a Florida Foreclosure Defense Lawyer or a Jacksonville Foreclosure Lawyer today to review your case in order to determine what foreclosure defense options may be available to you.

The Florida Fair Foreclosure Act, a potential bill which could potentially remove many foreclosure proceedings from state courts, may have more consequences for ordinary Floridians other than its intended effect of speeding up the foreclosure process. Florida has one of the longest average foreclosure processes in the U.S., with an average foreclosure taking 638 days in contrast to an average of under 400 days for those states which do not utilize judicial foreclosure processes.

Proponents of the Act justify their support of the bill citing the need to speed up the foreclosure process in order to strengthen the overall economy by getting foreclosed homes back onto the market more quickly. Foreclosure defense advocates point to lenders and mortgage servicers as the primary reasons the judicial foreclosure process is slow. Practices such as "robo-signing" foreclosure documents, bring suit without proof of ownership of the loan are just a few of the acts perpetrated by banks which have caused much of the delay.

If the Act is passed, it may have a significant negative fiscal impact on the state court system. In the last fiscal year, over 60% of the operating budget was derived from foreclosure filing fees. Non-judicial foreclosure systems shift the costs of initiating litigation to already financially burdened homeowners, a move which could cost homeowners and the state court system dearly.

If you are 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 defense options may be available to you.

In an effort to lessen the companies' long term risk, both Fannie Mae and Freddie Mac have announced plans to change the fee schedule they charge to mortgage lenders. The increase in what are called "guarantee fees" is anticipated to take flight gradually, beginning in early 2012.

Guarantee fees are fees paid to Fannie and Freddie, who do not actually loan money, by investors who purchase packaged mortgage loans assembled by Fannie and Freddie. The White House has endorsed the fee increase, too, as the raise in fees will lessen the overall government involvement in the mortgage market by attracting more capital from investors. The move is projected to save nearly $28 billion over a 10-year time frame.

The increased costs will apply more to riskier loans and mortgages that sit in areas with more strict foreclosure laws. All of this appears to be in the interest of ultimately protecting the consumer.

If you are facing a Florida Foreclosure Lawsuit and your loan is owned by Fannie Mae or Freddie Mac, contact a Jacksonville Foreclosure Lawyer or a Florida Foreclosure Lawyer today to determine what options you have in fighting for your home..

Robo-signed documents used in foreclosure actions may leave lasting impacts in property records for decades. Buyers of foreclosed properties may face difficulties proving they hold clear title to the properties if their ownership is ever challenged. One of the biggest concerns stems from whether or not homeowners were given proper notice of foreclosure actions and/or of the foreclosure sales. If the notice requirements are not strictly complied with, the Court may not have jurisdiction over the case and the action could be ended.

Another concern is the long-lasting impact on the legal system. The production of fraudulent documents, meant to look genuine and fool the legal system, may be depriving people of some of their legal rights. If that is not enough, people are swearing they are vice presidents of companies they do not work for and signing affidavits stating they have personal knowledge over the subject matter when they do not. Citizens' confidence in the legal system has been and is currently being damaged. Foreclosing banks are being allowed to get by with sloppy paperwork and questionable signatures, but homeowners would never be able to do the same. Missed mortgage payments, do not give banks the right to enter a court of law and take someone's home with the use of false documents.

It is difficult to navigate a foreclosure alone. If you are facing a Florida Foreclosure Lawsuit, contact a Jacksonville Foreclosure Defense Lawyer or a Florida Foreclosure Defense Lawyer today for a complimentary consultation to discuss your foreclosure goals and potential foreclosure defenses.

The aptly names "Helping Responsible Homeowner Act of 2011" has been recommended by members Congress to help more borrowers refinance their current mortgage loans. This new act would remove the risk-based fees on mortgage loans that Fannie Mae and Freddie Mac already endure the risk on, and could potentially allow about 5 million more home loan borrowers refinance. This could potentially be a far-reaching and speedy way to get money into the overall U.S. economy. It is hopeful that the act could also decrease the number of strategic defaults by underwater borrowers, those who are defaulting because they owe more than their home are currently worth.

An adjustment to the current Home Affordable Refinance Program (HARP) is also being supported by many members of Congress. The adjustment would restructure and streamline the appraisal and closing processes for homeowners who are refinancing, which could reduce the overall cost and effort associated with mortgage refinancing. Suggestions have also been made to increase the present required loan-to-value ratio.

The current Home Affordable Refinance Program has allowed homeowners with Fannie Mae and Freddie Mac backed mortgages to refinance their existing mortgages at decreased interest rates, but the program has not provided the widespread help across the country as was initially hoped. Currently, Fannie Mae and Freddie Mac charge high, risk-based up front fees when refinancing risky mortgage, which the Helping Responsible Homeowner Act of 2011 seeks to eliminate.

Nevertheless, a long-term solution, widespread refinancing is not enough without an improved economy and value appreciation. If you are currently facing a Florida Foreclosure Lawsuit and your house is underwater, contact a Jacksonville Foreclosure Lawyer or a Florida Foreclosure Lawyer today to determine what foreclosure alternatives may be available to you.

According to a report entitled "The Post Foreclosure Experience of U.S. Households," by a Federal Reserve Board discussion group appose the impression that post-foreclosure homeowners are forced to move in with family or crowded, poor neighborhoods in order to cover their bills. Instead, the report states more foreclosed homeowners are beginning to plan ahead for what they will do after foreclosure--a strategic exit after foreclosure--allowing them to remain in the same, better, or at least comparable living standards.

After foreclosure, 60% of foreclosed homeowners are living in single-family homes, such as a rental, in a neighborhood with educational levels and home values similar to what they had pre-foreclosure. One Palm Beach mother told the study her plans include staying in the same school district for her children. She further stated, "I know tons of people going through this, and they are making plans for when they get kicked out of their homes...They are planning to rent, centering it around their kids' schools. They are not moving into one-bedroom apartments."

The report further found that household size post-foreclosure only increased from 2.24 adults from 2.27 adults. Only roughly 12% are forced to move in with an older family member (such as a parent). Compare the 12% to the 5% of adults who move in with older family members while not in foreclosure.

Another part of the study looked at how long once a foreclosure is initiated, before a homeowner is forced to leave the home. The report found only half of borrowers are forced to leave their homes after two years. The postponement reflects the aspect that many foreclosures are never finished as loans are worked out or the home is sold. However, it also shows how long it takes for a foreclosure to work its way through the court system. In Florida, the average home spends 676 days in foreclosure. That is almost 2 years!

Foreclosure does not have to mean a smaller living space in a bad part of town, or a quick move. If you are facing a Florida Foreclosure Lawsuit, contact a FFlorida Foreclosure Defense Lawyer or a Jacksonville Foreclosure Defense Lawyer today for a free review of your situation to find out what foreclosure options may be available to you.

It appears as if Oregon is on the very of joining Florida as a judicial foreclosure state. This means when a bank wants to foreclose on property, the bank must prevail in court to be able to do so. Oregon is one of twenty-four non-judicial foreclosure states in the nation and been a non-judicial foreclosure state for years. Non-judicial foreclosure systems allow banks to foreclose without having to go through the court system. Banks are permitted to foreclose outside the courts if they give proper notice to borrowers, publicize the sale and follow other requirements that are generally state specific.

In the last year, judges in Oregon have uncovered many banks which have been foreclosing without the right to foreclose, leading Oregon judges to get more involved in Oregon's foreclosure process. Oregon judges are now so involved, that banks now want Oregon to become a Judicial Foreclosure State.

Federal judges got involved and prevented many foreclosures when it was found banks had not met one of Oregon's foreclosure requirements: filing the mortgage loan's ownership history in the proper county's public records. There are currently around 26,000 foreclosures still under review in Oregon. At this point, it is unknown how many of these foreclosures will end up having to go before a judge, but it could be thousands.

If Oregon does decide to become a judicial foreclosure state, the foreclosure time period may become longer and expenses may increase. Of the twenty-six judicial foreclosure states in the nation, a mortgage loan will stand for a projected 728 days before a foreclosure sale date. Mortgage loans only sit for approximately 550 days in non-judicial foreclosure states.

If you are facing a Florida Foreclosure Lawsuit, contact a Jacksonville Foreclosure Defense Lawyer or a Florida Foreclosure Defense Lawyer today.

In a program which mirrors a program struggling Florida homeowners have been able to take advantage of for almost a year, Illinois homeowners who are having difficulty making their mortgage payments can take advantage of a new federal program designed to help keep people in their homes. The program, dubbed Illinois Hard Hit, cam provide up to $25,000 over 18 months to those homeowners who are at risk for losing their homes.

The Illinois Hardest Hit Program offers two types of assistance: 1) Reinstatement assistance to pay mortgage arrearages, fees, and penalties in full, and 2) Monthly mortgage payment assistance to pay 100% of the mortgage payment owed to the servicer for up to 18 months while the household makes monthly contribution payments to the Illinois Housing Development Authority during their enrollment in the program.

To qualify for the "Hardest Hit" program, a homeowner must have at least a 25% drop in income, the household income cannot be more than 120% of the local median income, the residence must be the primary and only residence of the borrowers, the loan balance must not exceed $500,000 and the current servicer must agree to accept payments.

This program may bring some much needed relief to struggling Illinois homeowners. If you are a Florida homeowner, a similar program is available to you. For information on the Florida Hardest HIt Program clicktarget=new here. If you are already facing a Florida Foreclosure Lawsuit, contact a Jacksonville Foreclosure Lawyer or a Florida Foreclosure Defense Lawyer today for your free consultation.

If you are facing Florida Foreclosure Lawsuit, you may be unsure of what options you may have. Talking to an attorney can help wade through all the potential options and help you make an informed decision. Here are 5 foreclosure options and potential ways a talking to a Foreclosure Defense Attorney can help you.

1. Extensions and Forgiveness: A Foreclosure Defense Attorney may be able to help you gain additional time in your home and/or obtain forgiveness on some of your past due payments, late fees, and charges.
2. Lower your Monthly Payments and Interest Rate: A Foreclosure Defense Attorney may be able to help you negotiate a new, lower interest rate, which will lower your monthly payment.
3. Forbearance: A Foreclosure Defense Attorney may be able to help you negotiate a period of lower monthly payments; after which you would resume your normal monthly mortgage payment.
4. Short Sale: A Foreclosure Defense Attorney may be able to help you negotiate a Short Sale. A Short Sale is where you and the bank agree to sell the property for an amount less than what you owe on the property. The lender then agrees to release you from the loan and accept a lower amount than what they are owed. The amount not repaid is called a deficiency. In some, but not all cases, the lender will agree to not hold the borrower responsible for the deficiency.
5. Deed-in-Lieu of Foreclosure: A Foreclosure Defense Attorney may be able to help you negotiate a Deed-in-Lieu. A Deed-in-Lieu is where the borrower conveys the property to the lender in order to satisfy the loan that is in default and avoid foreclosure. There are several advantages to both the borrower and lender. One advantage to the borrower is they are immediately released from most or all personal indebtedness associated with the loan in default. A Deed-in-Lieu also hurts your credit less than a foreclosure. The benefits to the lender include less time and cost spent repossessing the property, and a lower risk of vandalism to the property by the borrower.

If you are facing a Florida Foreclosure Lawsuit, contact a Jacksonville Foreclosure Lawyer or a JFlorida Foreclosure Defense Lawyer today for a complimentary case review to see if any of these options could be available to you.

"Robo-signing" refers to the practice many banks and their employees have been accused of utilizing which includes employees essential sitting in a room signing thousands of documents without reading them. Rob-signing has been a wide spread practice throughout the nation in foreclosure cases. Many foreclosures have been rife with "robo-signed" documents and some industry official believe homeowners have been wrongfully foreclosed upon as a result.

However, banks and mortgage lenders are now beginning to be held responsible for robo-signing practices, both past and present. Goldman Sachs, Litton Loan Servicing LP, and Ocwen Financial Corporation, after extensive negotiations, have agreed to withdraw active foreclosure cases if they contain robosigned affidavits or inaccurate affidavits. Hopefully, robo-signing will soon come to an end as these firms have further agreed to reinforce supervision of foreclosure counselors and fire all foreclosure attorneys who have been found to have questionable document practices or who face sanctioning by their state's bar.

If a home has already been wrongfully foreclosed upon, the settlement requires each company to return the property involved to the homeowner, or provide adequate compensation for the loss.

If you believe your home being wrongfully foreclosed upon due to robo-signed documents, contact Florida Foreclosure Defense Lawyer or a Jacksonville Foreclosure Lawyer today to review your case and see what defenses may be available to you. The first consultation is free!

Just like many couples across the nation, this elderly Florida found them selves unable to make their current monthly mortgage payment and were in need of a mortgage modification. In their case, the husband became ill and their medical bills increased. Therefore, the couple applied for the Federal Home Affordable Modification Program (commonly referred to as "HAMP"), which reduced their monthly mortgage payment to a manageable amount. The first payment was due January 1.

The couple made their first mortgage payment on December 23, 8 days early. After they received notice their February payment was not accepted because the signature line of their check was left blank, they discovered they could be loosing their modification because they made their first payment early. Of course, the couple contacted the bank to ask them to review their file.

However, their initial attempts to correct the situation were unsuccessful and they received a letter in July stating, "payments not made for the correct month, even earlier, would result in the loss of eligibility in the modification program." Luckily, shortly thereafter, the bank reevaluated their decision and has allowed the couple to resume their modification and continue their participation in the HAMP program. The bank has also admitted the error they made.

This goes to show that being approved for as well as keeping a modification can be difficult and confusing. If you are facing a Florida Foreclosure Lawsuit as a result of a failed mortgage modification, contact a Florida Foreclosure Defense Lawyer or a Jacksonville Foreclosure Defense Lawyer for a free consultation and a review of the remedies which may be available to you.

Bank of America has just announced a new pilot program in Florida to test whether extra monetary incentives will be enough to get troubled homeowners to agree to and successfully close short sales. The incentives will range from $5,000 to $20,000 and are only offered on investor-approved, pre-offer short sales. In order to be eligible for the short sale program, the short sale must be initiated between September 26 and November 30, 2011 and be completed prior to August 31, 2012.

A Bank of America spokesman stated that the bank chose Florida because the state is experiencing higher than average foreclosure rates and is a "viable market to gauge incremental short sale response and completion rates when presenting homeowners with relocation assistance at closing." This is not the first time Bank of America has offered incentives for completed short sales but it is the first time the mortgage giant has offered incentives this large.

Homeowners eligible for the "Test-and-Learn" program will receive a solicitation letter directly from Bank of America or may call the bank directly at 877-459-2852 to determine their eligibility. A Bank of America spokesman has stated that if the pilot program is deemed a success, it may be spread to other parts of the country.

If you are facing a Florida Foreclosure Lawsuit and have been denied the opportunity to short sale your home, contact a Jacksonville Foreclosure Defense Lawyer or a Florida Foreclosure Defense Lawyer today to determine what foreclosure alternatives may be available to you.

President Obama and his administration are looking into taking further actions to help rebuild the crippled housing market. However, any action must be able to assist a very broad range of homeowners, stimulate the economy, and almost cost nothing.

One possible resolution is to allow homeowners with government-backed mortgages to refinance them at todays low interest rates, about 4%. Allowing millions to refinance could potentially provide a huge stimulus to the overall economy. Many homeowners mortgage bills would decrease immediately, allowing consumers to spend money in other consumer areas.

However, how such a refinancing program would work is still being decided by those in Washington. Questions remain regarding if homeowners already delinquent on their mortgage would be able to refinance and if the lenders would oversee the potential refinancing program. Other potential resolutions include home rental program for houses already foreclosed on.

As the housing market continues to decrease this summer, discussions about housing programs have increased and become more urgent. However, it is unlikely the market will receive much aid before the 2012 election as the Congressional opposition endures as to other forms of stimulus and Federal programs to help homeowners are said to be ineffective.

If you are facing foreclosure, contact a Jacksonville Foreclosure Defense Lawyer or a Florida Foreclosure Defense Lawyer today to determine what foreclosure avoidance options may be available to keep you in your home.

Even if you have retained an attorney to defend your foreclosure, a Final Judgment of Foreclosure could be entered against you without Notice of a Hearing. Of course, your first thought is your attorney has not done what you hired them to do. But, that is not necessarily or probably the case when defending a foreclosure in Florida.

How could this happen? In Duval County, Florida and the surrounding counties, judges who handle foreclosures rotate. This means that the judge who hears a motion may or may not be the judge who hears the next motion in the same case. Therefore, a Final Judgment of Foreclosures could be entered where a replacement judge did not realize that the presiding judge had ordered a continuation of the summary judgment hearing and signed the Final Judgment Order even though no one attended the hearing.

This could also happen where no hearing is scheduled, noticed, or cancelled when opposing counsel, for unknown reasons, sends a judge a proposed Final Judgment of Foreclosure without a hearing, does not notify your attorney, and the judge signs the order. How does a judge sign a Final Judgment of Foreclosure without notice and without a hearing? There is no answer! But, there is something you can do!

If a Final Judgment of Foreclosure has been entered against you without notice or a hearing, contact a Florida Foreclosure Defense Lawyer or a Jacksonville Foreclosure Defense Lawyer today for a complimentary case review to see if an attorney can help you get the Final Judgment of Foreclosure set aside. An attorney may be able to file a Motion to stop the Foreclosure and set the motion for hearing prior to the sale date. If the judge vacates the final judgment, you can continue to defend your foreclosure.

State and federal officials have been engaging in negotiation settlement talks with the United States' largest banks regarding the shoddy foreclosure practices of Mortgage Electronic Registration Systems (MERS). The pending settlement with the banks involves a potentially multibillion-dollar settlement and is centered around the "robosigned" documents and court filings that have plagued the foreclosure courts across the nation. The primary reason for the MERS investigation is that considerable amount of this robosigned paperwork came through the MERS system. Officials are referring to the present predicament as the "MERS morass," with its approximate 65 million mortgage registry.

At the same time, the MERS system facilitated the boom of mortgage-backed securities by permitting banks to rapidly and inexpensively transfer the ownership of loans. MERS is so intertwined into all aspects of the mortgage and foreclosure process that officials are beginning to think they may be unable to address one part of the MERS problem while leaving other aspects for future investigations. Additionally, the contradictory laws and court decisions throughout the United States make a one-size-fits-all solution extremely unlikely.

The banks are pressuring officials to leave the MERS issue alone during these negotiations as the banks are already facing billions of dollars in penalties without the MERS problem. However, those close to the negotiations say that officials have no intention of releasing MERS from liability.

If you think your mortgage loan involves MERS and you are facing a Florida Foreclosure Lasuit, contact a Florida Foreclosure Defense Lawyer or a Jacksonville Foreclosure Lawyer today for a complimentary case review and to see what foreclosure defenses may be available to you.

Jeff Barnes, a California attorney who also has an office in Boca Raton, has filed a unique Florida lawsuit against JP Morgan Chase. The filing cites Florida RICO statutes in an effort to pin Chase with a widespread pattern of misconduct. Barnes is making a claim of "nationalized fraud" by Chase because they used false and fraudulent documents to foreclose on homes, and also claimed it had the right to foreclose on Washington Mutual loans, which Chase took over in 2008.

Barnes is using the Florida Civil Remedies for Criminal Practices Act, which is the civil version of the Florida Racketeer Influenced and Corrupt Organization Act. The suit has drawn much attention and Mr. Barnes is considering adding more plaintiffs, although he does not plan to solicit for any more. However, some Florida lawyer's are skeptical as to whether this statute will actually work in fighting against the banks.

Perhaps the best thing that could come from this filing is that the suit requests Chase be barred from processing foreclosures until the case ends, which could buy time for many homeowners facing Chase foreclosures. If you are currently facing a Florida Foreclosure Lawsuit or are simply having difficulty paying a mortgage, contact < Jacksonville Foreclosure Lawyer or a Florida Foreclosure Defense Lawyer today to explore your potential legal options.

The American People are breathing a collective sigh of relief after hearing that US Attorney's General has formed a commission to combat untruthful bank lending practices. The move appears to target Bank of America and now defunct mortgage lender Countrywide, although other companies could be subject to the same investigation. But larger question remains, where Florida's Attorney General Pam Bondi falls on the issue?

As numerous states' AG's are joining into the investigation, Pam Bondi has still refused to entertain prosecuting the banks for the citizens she swore to protect, in the very State that has served as a poster child for "fraud-closures". Until Florida elected officials decide to join the fight for the people of Florida in a very open and public manner, the citizens of this State will continue to cast a doubtful eye on Pam Bondi and her operation.

If you are having trouble paying your mortgage or are already facing a Florida Foreclosure Lawsuit, do not wait for Florida's AG to wake up. Contact a Jacksonville Foreclosure Lawyer or a Florida Foreclosure Defense Lawyer today for a free consultation to determine what foreclosure defenses may be right for you.

Prices and volume of home sales in Jacksonville were on the rise in August, a rise that the Northeast Florida Association of Realtors says means housing market recovery may have started. The news displayed a broad strengthening in regional real estate markets; year-over-year improvements in sales, pending sales, median prices and inventories.

The North East Florida Association of Realtors data shows North East Florida real estate hit a bottom this year and is now starting to recover. The median sales price rose 2.2 percent during August, and average sales price between August 2010 and August 2011 jumped from $169,658 to $180, 823, respectively. Another welcome sign was that the number of distressed home sales accounted for 51 percent of all sales in August 2010 and only 43 percent in August of this year.

These numbers are trending in favor of North East Florida Homeownership. With the hard work of homeowners, attorney's, and banks collectively, the market will continue to thrive.

A big piece of this puzzle is getting help when help is needed. If you are facing a Florida Foreclosure Lawsuit, contact a Jacksonville Foreclosure Defense Lawyer or a Florida Foreclosure Defense Lawyer today to determine what foreclosure alternative options may be available to you.

Florida is one of the hardest-hit foreclosure areas in the nation. Many Floridians have found themselves in the foreclosure trap: unemployment means lower income, which in turns means an inability to pay the mortgage. It's not that people are irresponsible; they simply cannot afford to pay the bills. Eventually, the bank moves for foreclosure.

Fortunately, you don't have to go through foreclosure alone. Hiring a knowledgeable Florida Foreclosure Defense Attorney may be an important decision that can have enormous benefits. The foreclosure process can be confusing and is often frustrating, and an attorney can help guide you through the process.

Additionally, we have written in the past about the foreclosure fraud plaguing the process. If you have fallen victim to this fraud, a Florida Foreclosure Defense Attorney can file a suit on your behalf.

Don't face the banks alone. You have many options at your disposal, and you should have competent legal representation during your foreclosure process. Contact a Florida Foreclosure Defense Attorney today.

There are various reasons why a bank might volunteer to dismiss its foreclosure case; reasons can range from the fact you've entered a settlement with the bank or the bank has granted you a loan modification to they cannot correct the errors in their paperwork. But save for the amicable circumstances of voluntary dismissals, do not confuse the dismissal of a foreclosure with complete forgiveness from the bank. In fact a voluntary dismissal is often just the eye of the storm.

Banks, by and large, usually plan to re-file cases that they voluntarily dismiss. In most cases if you receive a dismissal it's due to the fact the bank has made an error in their documentation that creates a legal issue, such as lack of standing to bring the foreclosure. Once the discrepancy is fixed on the banks end, the case will likely be re-filed and the foreclosure will start over from the beginning. One might think this is unfair considering the high cost to defend the initial foreclosure, but the homeowner is not left without a remedy.

The Florida Rules of Civil Procedure provide that a prevailing party can ask the court to award costs and fees from the losing party. When one party dismisses a case, the opposing party is rendered the prevailing party and has a good case to collect fees under this rule. While the rule seems clear, some judges have been reluctant to impose the amount of fees necessary to cover the attorney's fees incurred by the homeowner.

For homeowners in Jacksonville and the surrounding areas, remember that it may be a good idea to contact a Jacksonville Foreclosure Defense attorney if the prospect of Florida Foreclosure Lawsuit is on the horizon. Fast action is one of the most important steps to take when defending a foreclosure case.

A 101-year-old Detroit woman has been evicted from her home after her son failed to make her aware of an active foreclosure on her home. The foreclosure stemmed from a 2002 mortgage refinance of her home, when she was 92-years old!! The woman, who owed approximately $80,000 on her mortgage, had lived in the home for almost 60 years.

The 65-year-old son of the evicted woman stated he threw away all correspondence and notices from the court "because he didn't want to worry her" and "he was sure it wasn't going to happen." Property records show the taxes were paid on the home as through the summer of 2010 but were unpaid thereafter. The woman and her son are now living in a rental home nearby and she is working with a local non-profit agency to try to get her back in her home.

This situation shows no one is immune from the foreclosure machine. If you are facing a Florida Foreclosure Lawsuit all may not be lost. Ensure you pay attention to any foreclosure related correspondence you receive and contact a Florida Foreclosure Defense Lawyer or a Florida Foreclosure Lawyer for a complimentary case review to determine what foreclosure defense options may be available to you.

American Home Mortgage Servicing Inc. (AHMSI) has lost millions of dollars due to the alleged robo-signing of thousands of mortgage documents, purportedly caused by Lender Processing Servicing Inc. (LPS) and its DocX affiliate. AHMSI filed a lawsuit against LPS on Tuesday, August 23, 2011.

The lawsuit was filed by AHMSI, a Coppell, Texas based company, in a Dallas, Texas district court against LPS, which is based in Jacksonville, Florida. The lawsuit alleges that 30,000 plus residential mortgages throughout the United States have been affected by LPS's robo-signing of assignments of mortgage. LPS allegedly improperly executed, notarized and recorded thousands of assignments of mortgage.

LPS and AHMSI have had numerous discussions regarding the affect these improperly created assignments of mortgage have had on AHMSI. LPS has offered to correct the problem by reimbursing AHMSI fees and costs for AHMSI having to evaluate and re-record these improper assignments. The lawsuit was filed following a year of discussions and LPS now claiming they have no duty to do anything due to the contracts involved having expired. However, AHSMI contends that LPS created these assignments and accepted payments "in accordance with the terms of a supposedly nonexistent contract."

The purpose of the lawsuit is to obtain a declaratory judgment that a contract existed between AHSMI and LPS and that the contract binds both parties. AHMSI also seeks an order compelling LPS to adjudicate AHSMI's claims of breach of contract and indemnification.

If you are facing foreclosure and think the assignment of mortgage in your case may have been improperly created, contact a Florida Foreclosure Defense Lawyer or a Jacksonville Foreclosure Lawyer today for a free consultation and to determine what foreclosure defenses may be available to you.

Even though homeowners facing foreclosure in Florida have had to fight the expedited procedures of rocket docket and giant foreclosure mills trying to push thousands of foreclosures through the courts at a rapid pace, along with foreclosure processing companies creating and "robo-signing" fraudulent foreclosure documents, there are still over 125,000 properties in some stage of the foreclosure process in Florida.

In the first quarter of 2011, 1 in every 152 housing units in Florida were in foreclosure, which constitutes the lowest level the state has seen in the last four years. The drop in foreclosure numbers has done little to alleviate the foreclosure backlog in the courts. Some foreclosure observers point to the demise of the Law Offices of David J. Stern and its subsequent dumping of 100,000 active foreclosure cases into the Florida foreclosure system.

While Florida Foreclosure lawsuits appear to be on the decline, many experts are saying this may be the calm before another storm. If you are facing a Florida Foreclosure Lawsuit now in the near future, contact a Jacksonville Foreclosure Defense Lawyer or a Florida Foreclosure Defense Lawyer today to see what foreclosure defense options may be available to you.

Reports are pouring in that the current Presidential administration is planning more action to strengthen the crippled U.S. housing market. Talks are focusing on several different options the Obama White House could take, but all parties agree, the plan must be tight. Here are a couple of the rumors flying around.

A first proposal would provide for million of government-backed mortgage homeowners to refinance their homes at today's substantially lower interest rates, which sit around 4 percent. Refinancing may sound like a sound proposal because of course it would immediately lower housing payments. But banks and those invested in mortgage-backed securities are sure to balk at such a plan, which the Administration should brace for. The second proposal would include a rental agreement for foreclosed homeowners to help them stay in their homes even if they lose the dwelling in foreclosure.

The market is certainly in need of a fresh breath of air, and with the housing market dwindling nearly one in five homeowners is upside down on their home. With the 2012 election year just around the corner, the Administration definitely has an interest in helping out the masses that are facing financial trouble largely due to the housing market.

There's a lot of time still until the market will see this type of relief, but it could be sooner than later given the short time until Election Day. If you are facing a Florida Foreclosure Lawsuit and would like to see what options may be available to you, contact a Jacksonville Foreclosure Defense Lawyer or a Florida Foreclosure Defense Lawyer today.