Florida Foreclosure Defense Lawyers Blog

There is no doubt that foreclosure is stressful. As soon as you receive a foreclosure notice, you should contact a Jacksonville Foreclosure Defense Attorney to help you through the process and defend your rights. Remember, the bank cannot take your house until the court gives them the right to do so. This means the bank must prove to a judge they have the right to foreclose.

Once you meet with a Foreclosure Defense attorney, it is important to cooperate with the attorney in whatever ways you can. Respond to phone calls. Send requested documents. If you decide to abandon your home, you should discuss this with your attorney to understand the potential consequences of your actions.

Nevertheless, even with an attorney, foreclosure can be stressful. There is no guarantee that the bank will not foreclose on your home. This fact sometimes leaves people worrying if they will soon have to find a new home. Indeed, with the average foreclosure taking 806 days in Florida, this is an understandable feeling. Many homeowners have a hard time dealing with the stress. They may want to move out of their home and start over.

But where do you go and what will be the consequences of abandoning your home? A Jacksonville Foreclosure Defense Attorney can aid you in devising a strategy that can allow you to begin saving money and planning for your future.

Florida is one of the few states that essentially allows a person to keep a home when declaring bankruptcy. This may have been one of the reasons OJ Simpson decided to move to Florida with all of his legal troubles and why there were caps placed on the amount of equity that can be protected in a bankruptcy. Having a home in Florida could provide more security than in other states. As a result of a lawsuit with the Goldman family, Mr. Simpson still owes over $30 million to the estate of Ron Goldman.

OJ Simpson is facing foreclosure on his 4,000-square-foot home in Kendall, Florida. Mr. Simpson is currently serving a prison sentence for up to 33 years for an armed robbery and kidnapping conviction in Nevada in 2007. His mortgage servicer, JP Morgan Chase, is claiming he has not made a mortgage payment since 2010. Though the home is worth just a shade under $500K, Mr. Simpson owes over $700K including penalties and fees. He paid nearly $600K for the home in 2000.

It is likely Mr. Simpson has an attorney to help him with his foreclosure. It would be difficult for anyone to challenge the banks in a foreclosure case, but even more difficult for Mr. Simpson considering he is currently behind bars. Hiring an attorney is a wise decision whenever someone is facing legal trouble. If you are currently facing foreclosure, contact a Jacksonville Foreclosure Defense Attorney today.

It is no secret that foreclosure companies were using a wide array of fraudulent tactics at the height of the foreclosure crises. Practices like backdating documents and robo-signing were wide-spread, despite being illegal. Nevertheless, many foreclosures were approved even though the mortgage company had faulty documents. This was largely due to the fact that, often times, the mortgage company did not have any other document to show the court, so they resorted to shady tactics.

Those tactics are becoming more difficult to use. A recent decision held that a bank or mortgage company must show proof of ownership before the court will grant a foreclosure. This means the note must be correctly dated and endorsed before the foreclosure is filed, which does not always happen. In such cases, the court might dismiss the case and force the bank to re-file with the appropriate documents.

This is an important development. It is unclear how persuasive this case will be throughout the rest of Florida, but it could significantly delay the already backlogged foreclosures throughout the state. It could also allow homeowners a new defense against banks and other foreclosure companies that fail to adequately prove ownership of the home itself.

If you are facing foreclosure in Florida, you have numerous rights and do not need to simply vacate your home without a court order. Contact a Jacksonville Foreclosure Defense Attorney to discuss your options.

Remember, there are almost always several options available to you to help defend against a foreclosure. One of the best options is to contact a Jacksonville Foreclosure Attorney who can help you through the process.

However, you must be cautious. There are people out there who are trying to exploit the current economy, swindling people out of their hard-earned money. In Southern California, for example, a man recently plead guilty to bankruptcy fraud and identity theft after years of "helping" people stall a foreclosure.

The man, Frederic Gladle, operated a foreclosure company and told homeowners he would postpone their foreclosure for a monthly fee. It is evident Gladle knew what he was doing was wrong, as he used numerous aliases in his business. He would have the homeowners who hired him sell a very small fraction of their home to a debtor who was going through bankruptcy. Having the homeowner's name attached to the bankruptcy placed an automatic stay on the foreclosure, meaning the lenders were prohibited from foreclosing until receiving permission from the court.

Using this scheme netted nearly $1.6 million for Mr. Gladle over a 4-year period. Almost all of this money was from homeowners struggling to remain in their homes. Mr. Gladle's actions are abhorrent and it is unfortunate that he was able to swindle even one dollar from anyone. If you are facing foreclosure, do your homework before rushing to make decisions and call a Jacksonville Foreclosure Attorney for help.

Eight years ago, the Borchers paid their mortgage in full when they sold their house. They hired a title company to take care of the title transaction and moved on with their lives. Now, however, a completely different lender is suing them - along with everyone who has owned the house in the last eight years -- because of a typo on that old sale.

The typo describes the home as "Bloomingdale Section H" instead of "Bloomingdale Section R," a description for a house down the road. There have been three sales since the Borchers sold the home, and nobody caught the mistake until now. Because of that old mistake, the current owners are at risk of defaulting. Bank of America has filed suit against everyone, alleging it is up to the Borchers to resolve the problem. The Borchers are arguing that they are not responsible for the mistake and should not be responsible for correcting it.

Usually, the Borchers could go to the title company they used when they sold the home and who made the mistake, and have them fix the error. The problem here is that the title company no longer exists. This leaves the Borchers with little recourse and it will probably be up to the court to decide how to handle the situation.

Typos are rare occurrences, but they do happen. They are just one of the many ways a faulty foreclosure can be filed against you. If you are facing a foreclosure, contact a Jacksonville Foreclosure Defense Attorney and see how an attorney can help you.

Calling a Jacksonville Foreclosure Attorney to guide you through the steps is a good first start. But, there are a few other things you should know.

You do not need to immediately move out of your house. Actually, doing so may cause the bank or mortgage company to consider your home "abandoned," making it more difficult for you to obtain assistance. Instead, you can remain in your home until the bank obtains a foreclosure judgment against you.

You should pay attention to the letters the mortgage company sends you. You should not ignore these, and they will likely be useful when you contact a Jacksonville Foreclosure Attorney.

If you speak with the mortgage company about your situation, be honest. If you are not comfortable speaking with the mortgage company, your Jacksonville Foreclosure Defense Attorney can do that for you.

These are just a few simple guidelines to follow if you are facing foreclosure. Contact a Jacksonville Foreclosure Defense Attorney to discuss the details of your foreclosure. Each situation is different, but a qualified attorney may be able to help.

If you live in Jacksonville and are under water on your mortgage -- i.e., your home is worth less than you owe on your mortgage -- you may be considering the option of stopping payments and allowing the bank to foreclose on your home (often called a strategic default). But not everyone wants a foreclosure; homes are a lifelong investment and often are attached to great memories and heavy sentiment. If you are behind on your payments, you have several options, all of which a qualified Jacksonville Foreclosure Attorney may be able to help you determine your options. Your options may include

Reinstatement. This means paying back everything you owe to the bank in order to become "current" on your payment. Unless you come into a large amount of cash relatively quickly, this option is likely not available to most people.

Workout. Some banks and mortgage companies know that foreclosing on a home means another empty house on their books. That is why they may be willing to negotiate a lower payment. There are several types of workouts: forbearance, loan modification, and partial claims.

Refinance.

Sell the home. Some buyers may wish to purchase a home as a short sale, and your mortgage company may be willing to accept the final funds from the sale in order to satisfy the mortgage.

Deed-in-lieu of foreclosure. This is where you give your home back to the mortgage company and simply walk away.

Bankruptcy. While this is not your first option, it can allow you to remain in your home in certain situations. Contact a Jacksonville Bankruptcy Attorney or Jacksonville Foreclosure Attorney to discuss how this option can benefit you.

Each option has its own benefits and disadvantages. One may be more beneficial to some people than others. Contact a Jacksonville Foreclosure Defense Attorney to talk about the options available to you.

A while back, we wrote about Florida Attorney General Pam Bondi, who was under fire for firing two attorneys who were leading foreclosure fraud investigations. Ms. Bondi was accused of firing the attorneys without proper cause. Ms. Bondi has now been cleared of any wrongdoing.

The investigation into the firings found that nobody in Ms. Bondi's office was guilty of wrongdoing; instead, the two foreclosure attorneys were fired for their misconduct in the office. One notable instance was a PowerPoint presentation the attorneys gave that contained false information regarding several cases. Later, one of the attorneys evidently emailed confidential information about pending cases to an outside source. The entire report can be found in the Miami Herald Blog.

The firing of the two attorneys may have slowed down some of the investigations into foreclosure fraud, but investigations remain ongoing. If you are facing foreclosure, contact a Jacksonville Foreclosure Attorney who can help you deal with the bank.

Ben Bernanke, the Federal Reserve Chairman, recently released an opinion outlining his support for a solution to the rising number of vacant foreclosure homes across the nation: converting them to rental units. This would be an interesting issue for Jacksonville Foreclosure Attorneys and their clients.

The trend is clear: the demand for home-ownership is very low, while demand for rental properties is on the rise. But transitioning foreclosed homes into rentals is difficult to do on a large scale. Small entrepreneurs typically may buy several foreclosure homes and rent them out. However, large-scale rental companies have refrained from purchasing foreclosed homes because the homes are often not adjacent to one another but spread throughout a city.

Financing is also a problem. While financing for multi-family rental units is available at a low rate, financing for single-family rentals is significantly higher. This means that those who have the money to purchase single-family homes as rentals do not have much of an incentive to do so. It makes more financial sense to develop multi-family units instead.

But large developers aren't the only ones who could benefit from renting out foreclosure homes. Some people facing foreclosure, or who are underwater on their mortgage, should consider a short sale -- selling their home to an investor who then rents the home. There are numerous options available to those facing foreclosure. If you are unsure of your options or would like to speak with someone who can help you, contact a Jacksonville Foreclosure Attorney.

There is a single fundamental action that must be done when faced with a foreclosure. Once served with a Summons and Complaint, you must file a response or an Answer to the Summons and Complaint within 20 days. The Complaint will and must state with specificity the nature of the action and what the Plaintiff (bank) is requesting.

Determining what to file and when to File an Answer in a foreclosure lawsuit is probably the most crucial step in a foreclosure lawsuit. There are several major benefits you cannot afford to miss out on. Once a response to your lawsuit is filed you will receive future notices of all future actions in the case. A properly written response can help to even the playing ground between the bank and yourself.

A lender bringing the foreclosure action certainly has multiple attorneys fighting for their interest and you should have an attorney reviewing your case and helping you fight to defend your rights and educate you on your options.

Contact a Florida Foreclosure Defense Lawyer or a Jacksonville Foreclosure Defense Lawyer to review your case and see that your foreclosure Summons and Complaint is properly answered and well drafted. A Florida Foreclosure Lawyer will also make sure that all other aspects of your foreclosure case is properly handled, giving you the best chance of coming out of the foreclosure with your head high above water. Complimentary initial consultation.

If you are a Foreclosure Defense Attorney representing a homeowner, you have experienced all too well each and every Banks' attorney's continuous and unrelenting resistance to comply with discovery requests. The Foreclosure Defense Attorneys at Apple Law Firm PLLC meet this block wall by continuing to follow up on each discovery request and the filing of motions to compel with requests for attorneys' fees.

In multiple of our foreclosure cases, after a Bank's continual failure to respond to numerous requests for compliance with discovery requests and after a Motion to Compel has been ignored, Apple Law Firm calls the Motion to Compel up for hearing before a judge. More often than not, the court grants the Motion to Compel.

Following the Bank's continued failure to respond to discovery requests, even after being ordered by a court to do so, Apple Law Firm files a second motion. This motion asks the Court to compel the Bank's response for a second time and requesting the Bank's compliance with the Court's order together with a request for attorney's fees. On numerous occasions, at the second hearing, the presiding judge has no remaining patience for the Bank. The second motion is granted and Apple Law Firm awarded attorneys' fees and costs as sanctions for the Bank's continued failure to respond to discovery and a Court order.

It goes without saying, to be successful in litigation, attorneys must be persistent and this is especially true in Foreclosure Defense. If you are facing foreclosure, make sure you have someone on your side that will vigorously look out for your rights and best interests. Contact a Florida Foreclosure Defense Attorney or a a Florida Foreclosure Defense Attorney.

The city of Detroit, Michigan has spent nearly $20 million dollars since 2009 to demolish around 4,000 homes. CBS's news show 60 Minutes recently had a report in Cleveland, where that city is also bulldozing homes in order to save home values. The report also highlighted the fact that foreclosures are on the rise in the suburbs. As values remain low, more and more homeowners are having trouble paying a mortgage that is worth more than the house itself. Some people stop paying because they can no longer afford to, while others simply don't see the point in continuing to pay, even though they might be financially able.

No matter what your situation, if you are in Florida you should contact a Florida Foreclosure Defense Attorney or a Jacksonville Foreclosure Defense Attorney Attorney to explain how a foreclosure suit, and a foreclosure judgment, can affect your personal situation. Nobody should have to face a foreclosure action alone, and an attorney can be a powerful ally if the bank decides to foreclose.

President Obama gave his jobs speech to Congress on Thursday, December 29, 2011. Housing was only briefly mentioned. However, the brief mention could finally be a step in the right direction. President Obama stated he plans to work towards helping millions refinance at todays' record low housing rates.

President Obama is hopeful that with the almost 4% rate we are currently seeing, over $2,000 could be put in a single family's pocket and give a lift to the economy. The President plans to work with federal agencies to allow homeowners with mortgages backed by the federal government to refinance even where the homeowner has bad credit due to a financial hardship or the home is underwater.

Just like the other government programs that have been launched to try to help homeowners save their home in light of a bad economy, this new program is likely to be difficult to navigate and qualify for. If you are facing foreclosure, do not go through it alone. Contact a Florida a Florida Foreclosure Defense Attorney or a Jacksonville Foreclosure Defense Attorney for a free consultation today to discuss the options available to you.

If a bank cancels or forgives debt from a mortgage, a Form 1099 is automatically sent to you to report the Cancellation of Debt as income. For those not familiar with a Form 1099, it is used to report income that is not earned from wages, salaries or tips. There are multiple versions of the 1099. The Form 1099-C is used to report the Cancellation of Debt. Unfortunately, the Cancellation of Debt reported on a 1099 must be included on a tax return as income on which you must pay taxes.

Since 2007, the Mortgage Forgiveness Act of 2007 (which will expire at the end of 2012) has allowed cancelled debt from a foreclosure to be excluded as income if your primary residence secured the mortgage. However, banks often do not allow the debt left over from a foreclosure to be simple written off in this manner. Instead, the bank chooses to pursue the borrower personally, after the foreclosure has ended and the home sold, for the remaining balance of the mortgage.

It is important to discuss this possibility with an attorney to make sure this does not happen to you. A Florida Foreclosure Defense Attorney can help protect you from being pursued for the remaining balance of your mortgage as well as help you prepare for the future. Contact a Jacksonville Foreclosure Defense Attorney for a complimentary initial review of your situation before its too late.

Toward the end of 2011, foreclosures across the nation increased over 20% from the previous quarter. Considering millions of Americans are still under water, the foreclosure increase is an unfortunate sign that home values are not likely to jump up any time soon. If you are one of the many Florida homeowners with a mortgage that is higher than your home is worth, you should consider contacting a Florida Foreclosure Defense Attorney to discuss some available options.

Nevertheless, many experts agree that the worst of the foreclosure crises the country has faced over the past few years has passed. But the types of homes facing foreclosure might start to change. The initial foreclosures occurred primarily in inner-city neighborhoods. As home values remain low, suburban neighborhoods could see more foreclosures as well. If you are facing foreclosure, contact a Jaksonville Foreclosure Defense Attorney. An attorney can explain the foreclosure process and help you remain in your home.