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.

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.

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.

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.

Unfortunately, Florida has one of the highest foreclosure rates in the country! The Banks that hold these mortgages have mountains of paperwork to sort through in order to deal with the large amount of mortgages in and heading towards foreclosure. The amount of paperwork Banks currently have is one of the main reasons why it often takes over a year for a home to be foreclosed upon, and a Florida Foreclosure Defense AttorneyAttorney can help extend the process even further.

Here in Jacksonville, a Jacksonville Foreclosure Defense Attorney will defend your rights for you, and force the bank to actually prove they have the right to foreclose on your home. It is important to know that by simply receiving a letter from the bank stating they intend to foreclose does not necessarily mean you must vacate your home immediately. The bank has to file a case against you and prove they are entitled to foreclosure. If you are facing a foreclosure, contact a Jacksonville Foreclosure Defense Attorney to discuss what options are available to you.

The answer is "It Depends." Time is the determining factor that will decide when you will no longer have access to your home and the property within. As we all have come to know, there is no way to influence time.

Technically once a property is sold at a foreclosure sale, a Certificate of Title must be issued to the successful bidder. Before then, the successful bidder of your home has no right to the property. You remain the owner of the property until the Certificate of Title is issued. Generally, it takes at least a few days for the Certificate of Title to be issued. However, if the property is not properly established as homestead, you may lose access to your home even earlier due to the locks being changed. If your locks are changed while you are still the owner, you can change them back.

If you find yourself in this position, pay close attention to the court docket for your foreclosure case. It is easy to tell when the Certificate of Title has been issued. It will appear on the court docket.

Don't find yourself in the position where you are not only losing your home but also your possessions in your home. Consult a Jacksonville Foreclosure Lawyer or a Jacksonville Foreclosure Defense Lawyer to discuss the options available to you before its too late.

It is almost never too late when facing a foreclosure to examine and discuss the options available to you, even if you have already received a Notice of Sale. Although you might not be able to save your home, you may be able to avoid the numerous other consequences of foreclosure. To make full use of a Foreclosure attorney's professional guidance, it is best to have them review your case as soon as possible.

No matter what you decide, it is important to act timely when facing a foreclosure. Some lawyers charge for initial consultations, but it is possible to find a Jacksonville Foreclosure Defense Lawyer that will provide a free initial consultation.

One of the first steps is to determine how you will make your mortgage payments after the case is resolved. If you are unable to make these payments, changes will have to be made with your finances to enable you to be successful with any resolution you reach with the bank. You need to know if you will need additional employment or more hours at work, and start figuring out how you will accomplish it. Cutting back on things that are not necessary can also increase the amount of money you have available to make mortgage payments. Often people make the mistake of treating the increase in cash flow created by not making a mortgage payment as a pay increase instead of putting that money aside.

Consider using a Jacksonville foreclosure defense attorney who will help you re-evaluate your monthly living expenses to make saving your home and being able to begin making your monthly mortgage payments that much easier. Contact a Jacksonville Foreclosure Lawyer or a Jacksonville Foreclosure Defense Lawyer today for a complimentary initial consultation

"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," said Princeton University economist Janet Currie. "Our findings prove yet again that economic well-being and physical well-being are connected."

The National Bureau of Economic Research recently published a study, co-authorized by Janet Currie, that analyzed the affect foreclosures are having on peoples health in the states who have the greatest number of foreclosures--Florida, California, Arizona, and New York. Foreclosure rates were linked to reports of emergency-room and hospital visits for stress-related issues. The study also included those who are stressed by making payments on a home that is worth significantly less than what they owe.

The report found that for every 100 foreclosed properties in an area, emergency-room and hospital admittances increased 7.2% for hypertension and 8.1% for diabetes for adults 20 to 49. Anxiety admissions saw a 12% increase, and malaise (stomach upset and nausea) increased by 7.5%. In addition, an increase in attempts of suicide was reported.

Being under financial anxiety causes changes in mood, hypertension, and diabetes that take a toll on your overall health. Families forced to move in together experience more friction.

If you are facing a Florida Foreclosure Lawsuit, contact a Florida Foreclosure Lawyer or a Jacksonville Foreclosure Defense Lawyer today. The initial consultation is complimentary.

RealtyTrac and the Palm Beach County Clerk of Court simultaneously reported the month of October saw an increase in new foreclosures filed. The Palm Beach County Clerk also reported that October is the 3rd month in a row where foreclosure filings have increased, with September seeing a 7% increase.

Since the beginning of 2011, new foreclosure filings have slowed down greatly, in part due to accusations of robo-signing among law firms through out Florida who were hired to pursue foreclosures on defaulted mortgages.

Florida currently stands 3rd among the 50 states for the amount of time it takes for a home to be repossessed. Above Florida, in a close race for 1st and 2nd place, are New York with an average of 986 days and New Jersey which averages 974 days.

According to the newest report from RealtyTrac, it takes an average of 749 days, slightly over 2 years, for a home to be foreclosed on and repossessed in the state of Florida. This is a 10% increase from the 3rd quarter of 2011 in the amount of time is takes for a residential property to wind its way through the foreclosure system.

Facing a foreclosure can be an extremely stressful and confusing time. Do not face it alone. Contact a Florida Foreclosure Lawyer or a Jacksonville Foreclosure Defense Lawyer today for a complimentary case review and to begin planning for you future.

Distressed homeowners are seemingly getting a Christmas gift from their banks this year...many of the nations largest banks are reportedly halting foreclosures from December 16, 2011 to January 2, 2012.

Fannie Mae, Freddie Mac, Wells Fargo, Bank of America, and other banks have announced they will not foreclose on delinquent homeowners during the holidays. They are hoping this will give homeowners the much-needed time they need to get back on their feet. However, it is very important to know that the foreclosure process will continue to move forward, but homeowners WILL NOT be evicted from their homes during the holiday season. While banks are lauding themselves for their selfless act, in reality, very few homeowners may be affected by the foreclosure holiday.

According to a certified financial planner, Carolyn McClanahan, this is the "humane thing to do...People should't be kicked out of their homes during the holidays." If you are a struggling homeowner facing foreclosure, it is important for you to use this standstill to your advantage. Use it to create a plan to save your home, or look for different avenues that are more affordable.

It is important to remember that banks will still be prosecuting foreclosures during the foreclosure holiday to be vigilant for any foreclosure related pleadings you may receive during that time. If you are currently facing a Florida Foreclosure Lawsuit, contact a Florida Foreclosure Lawyer or a J Jacksonville Foreclosure Defense Lawyer for complimentary consultation to determine what foreclosure options may be available to you.

The Federal Emergency Homeowners' Loan Program (HUD), created to help unemployed and underemployed Americans about foreclosure, officially came to an end September 30, 2011. The program was allocated $1 billion to help struggling homeowner, however, only $432 million was used. The remaining unused funds will be return to the United States Treasury.

Initially, the program was designed to help roughly 30,000 homeowners. However, only 11,832 of the 100,000 who applied for the program were "conditionally" approved to receive aid. Each of those approved will receive between $35,000 - $45,000 according to Brian Sullivan, a representative of the Department of Housing and Urban Development.

The Emergency Homeowners' Program's inability to reach its goal is being chalked-up to the program taking too long to start. The program began accepting applications 6 months after intended, in June 2011, a whole year after the legislation for the program was passed. Lewis Finfer, executive director of Massachusetts Communities Action Network, is calling the program's failure "sad and shameful," and that the program added more requirements while failing to fully advertise the program.

Carol Galante, the program's assistant secretary of housing stated, "We understand that there is disappointment that the program is not reaching more families." The eligibility requirements barred a lot more homeowners than projected. Thirty-two states were to receive aid from the program. Pennsylvania used its fully allowable amount of $106 million and was able to help 3,056 homeowners. Only 2 states received more funding, New York and Texas. Pennsylvania was one of 5 states that established and ran their own similar program. In the other 27 states, program administrators ran the program.

This is the just the latest example of government entities failure to design and implement foreclosure relief programs for the millions of struggling homeowners across the country. 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 avoidance options may be available to you.

The Truth In Lending Act, commonly referred to as TILA, is a federal law enacted by Congress to standardize the way credit is disclosed to consumers. Prior to TILA, lenders could disclose finance charges on monthly, weekly, or daily basis. This made credit appear a lot cheaper than it may actually be. After TILA was enacted, credit offerors must disclose finance charges in terms of an Annual Percentage Rate, or APR, and as a dollar figure. TILA covers closed-ended credit such as mortgages, and open-ended credit like credit cards and home equity loans.

The penalties for non-compliance with TILA make for good incentives for lenders to follow TILA regulations. The main penalty is rescission of the loan transaction. However, rescission is only available for refinancing of a homeowners principle residence, and not for a loan used to purchase the residence. Rescission means that the entire mortgage transaction is unwound and the homeowner is placed in the positions he would have been in if the loan had never closed.

The Lender may also be liable for statutory damages of:
• An amount equal to the sum of the greater of: 1) any actual damage sustained by such a person as a result of the failure to comply;
• Not less than $200 or greater than $2,000 if the home loan is not a home equity loan; and
• Costs of the action, together with reasonably attorney's fees

There is a 3-year Statute of Limitations beginning when the loan closes for TILA violations used as a defense to a foreclosure action. However, the Statute of Limitations is 1-year if brought as an independent action outside of foreclosure. The lender MUST act within 20 days after receiving notice of rescission to affect the rescission, or the borrower may keep the property without further obligation.

If you are facing foreclosure, contact a Florida Foreclosure Defense Lawyer or a Jacksonville Foreclosure Defense Lawyer today to find out what foreclosure defense options may be available in your case.

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.

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.

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.