Now that the tidal wave of foreclosure diminishes, legislators and judges are adjusting the law to determine who will responsible to pay past due balances, most of which are condominium fees. The Florida safe harbor provision puts a cap on condo assessments that are owed by “first mortgagee or its successor or assigns” who pick up title during the foreclosure process.
An advisory committee to the Florida Supreme Court informed the Palm Beach Circuit chief judge that an administrative order that throws out certain motions in foreclosure cases as “abandoned” is a local rule. According to Florida Rules of Judicial Administration, a local rule is a rule of “practice or procedure” for trial court application only, because local conditions require. It provides an omission or facilitates an application of a statewide rule, but does not conflict.
In a new report of compiled data provided by the Consumer Financial Protection Bureau, close to 20 percent of U.S. shoppers are in debt due to unpaid medical bills. Many Americans seem to be confused by the bills that insurance companies and hospitals are providing for the cost of their treatments. This confusion is causing lower credit scores and making it much harder for Americans to get loans for homes or automobiles.
Jason Vitulano plead guilty and was sentenced to 11 years in a federal prison and ordered to pay restitution of $5.9 million dollars in a West Palm Beach Courthouse after running a boiler room scheme targeting troubled homeowners for mail and wired fraud. Between 2008 and 2009 the Boca Raton man who was operating boiler rooms would promise to attain loan modifications for homeowners who had fallen back of their mortgage payments by securing the fees upfront.
September brought on the slowest rise in home prices while providing decent sale gains and more variety in sale inventory. According to the Standard & Poor’s/Case-Shiller index of home prices in 20 major cities, September marked a 4.9 percent increase in comparison to a year ago but a 5.6 percent decrease compared to August. For the first time in seven months the 20-city index was unchanged.