Florida Foreclosure Defense Lawyers Blog

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.

2011 saw a bittersweet decline in foreclosures filings throughout the U.S. and especially in Jacksonville and the surrounding area. Although it may look like good news for the economy at first glance, in reality, it may just have had litte or no effect on home prices . We believe that one of the primary reasons for the decline in foreclosure filings was the effect of the discovery of the robo-signing that was used by many banks . New filings proceeded at a slower pace once courts and parties became aware of the increased level of scrutiny by the courts in order to obtain a foreclosure judgment.

While the level of foreclosures in Jacksonville fell, the length of time it takes to secure a foreclosure judgment rose. The national average in 2010 was 305 days, which increased to 348 days in 2011. The average wait time in Florida is much higher with an average of 806 days, which is over 2 years!

The wait time can be incredibly unnerving to homeowners as they worry each day if today will be their last day in their home. For some, the stress is simply too much to handle and they simply choose to abandon their home. You do not have to take on a foreclosure alone, contact a Jacksonville Foreclosure Defense Attorney who can help you understand the process and your options. Abandoning your home can be even more problematic as abandoned homes are often a target for thieves.

Because of the fraud that has plagued the foreclosure process throughout the U.S., the federal government stepped in to work out a deal with many banks that may help homeowners. The terms are still unclear, but it should not be too much longer before a solution is reached. If you are facing foreclosure or simply have questions about the options available to you on an underwater home, contact a Jacksonville Foreclosure Defense Attorney to discuss your situation.

Robo-signing, the practice used by many mortgage companies and their attorneys' to falsely sign numerous mortgage documents, may lead to some relief for under-water homeowners in the near future. In Jacksonville, Florida, the discovery of robo-signing caused foreclosure filings and proceedings to come to a sudden halt as attorney's worked to get all necessary documents in order before moving forward. Depending on the settlement, this could provide some very welcomed relief to many potentially facing foreclosure, but do not not expect it to be a substantial sum of money to any individual homeowner.

After the robo-signing scandal came to light, the federal government began an investigation into the alleged fraud and settlement talks with the banks who were allegedly involved. Apparently, the Government is finally about to reach a settlement that may help nearly one million families around the country by reducing principal balances on home loans. Many economists have said reducing the principal balances is the necessary step in addressing the current housing crises, which is currently very rarely done.

Among the banks involved in the negotiations are Ally Financial, Bank of America, Citigroup, JP Morgan Chase, and Wells Fargo. Other banks have been invited to the discussions, including PNC Financial, SunTrust Banks, and HSBC; however, their participation is uncertain as of now. Currently, the deal consists of a $19 billion settlement, which may change if more banks and more states become involved. The Federal Government has been urging all fifty states to join the settlement, but some states are continuing to decline.

Hopefully, the settlement will help save homeowners who are on the brink of foreclosure. It will be interesting to see if a deal is actually imminent and how far it actually goes. No matter what the outcome of the settlement, foreclosures will continue to happen and you always have the option of contacting a Jacksonville Foreclosure Defense Attorney for assistance.

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.

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.

One possible upside to the number of foreclosed homes across the country is the rising rate of donated homes to non-profit businesses. According to USA Today, Bank of America donated 150 homes in 2011 with plans to donate many more in 2012. Wells Fargo also donated about four times as many homes in 2011 as it had in the previous year. As for Habitat for Humanity, they nearly doubled the number of homes they rehabilitated.

And donations are not just for big banks. Donating might be an attractive option, especially for low-valued homes, as it allows the owner to be free of the mortgage debt and earn charitable tax breaks. The homes are not always re-sold to a new dweller; instead, they might be torn down or at least heavily modified. Note, however, that many charities turn down offers of donated homes, as the homes are often in prohibitively dangerous shape.

Donating a home is not an option for very many people, as many would rather remain in their homes even if facing foreclosure. The options available to you differ depending on your situation. Contact a Jacksonville Foreclosure Attorney to discuss what options you should consider.

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.

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.

A judge of the Supreme Court of New York has ordered HSBC to pay a penalty of $10,000. HSBC allegedly filed a false document and then claimed they knew nothing about it. Supreme Court Justice Arthur Schack's opinion compared HSBC's defense to the false document to what many remember from Sgt. Schultz in Hogan's Heroes "I know nothing."

A senior vice president of HSBC later submitted a sworn affidavit stating that HSBC had no knowledge of the loan in question and placed blame of the false document on the loan servicer. Nonetheless, Judge Schack stood behind his decision stating HSBC is still responsible for the actions of its agents. Shapiro DiCaro & Barak, a Rochester-based law firm who represented HSBC in this matter, was also ordered to pay $5,000 for its involvement.

This isn't the first instance of Judge Schack sanctioning HSBC. Earlier this year, Judge Schack caught lawyers for HSBC filing documents signed by "robo-signers" who supposedly worked for HSBC but were in actuality employed by the loan servicer.

There has been so much fraud regarding loan documents in foreclosure actions filed by the banks, it is imperative that you contact a Jacksonville Foreclosure Lawyer or a Jacksonville Foreclosure Defense Lawyeror risk becoming a victim of an improper foreclosure.