Borrowers in South Florida could get mortgage loan reductions

Nearly 1,500 South Florida borrowers may be eligible for reductions of their outstanding mortgage loan balances under a federal program announced in April. The program is intended to help “underwater” and severely delinquent borrowers whose loans are owned or guaranteed by mortgage companies Fannie Mae or Freddie Mac.

The Federal Housing Finance Agency, which oversees Fannie and Freddie, said more than 30,000 borrowers coast-to-coast could qualify.

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Foreclosure turned over Paragraph 22 of the Mortgage

In this Third District Court of Appeals case, the bank tried to foreclose the homeowner’s mortgage at summary judgment, which entails that there be no questions of material fact and the bank be permitted to a foreclosure judgment as a matter of law – a stage before trial.  The homeowner also filed for summary judgment, in dispute that paragraph 22 of the mortgage was not fulfilled by the bank, which involves the bank notify the homeowner of the default and certain rights and defenses the proprietor may have. 

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Loan Servicer Failed to Verify Records from its Predecessors

Defense lawyer Bruce Jacobs claimed that beyond matching columns and fields and using a checklist to confirm receipt of key documents, the servicer did not verify details in the files. Miami-Dade Circuit Judge Beatrice Butchko vetoed Ocwen Financial Corp.’s banking records and left out its testimony after discovering the loan servicer failed to verify its predecessor’s records in a foreclosure case.

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HOA Foreclosure Sale Should Not Have Happened

The Fourth District Court of Appeal ruled against a Wellington homeowner association that barreled through a foreclosure sale despite the homeowner’s bankruptcy filing — and then failed to show up in court for the appeal. Scribner Village Homeowners Association Inc. won a final judgment of foreclosure against Marie Alexandre on a lien for unpaid assessments. The judgment set the property for sale, but Alexandre filed for Chapter 11 bankruptcy protection and notified the state court.

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Association Hits Hurdle in Foreclosure

Trial court has a deficiency subject of matter jurisdiction to hear association’s foreclosure action where a bank or superior lien has already recorded a notice of lis pendens.

In this Broward County case, a bank recorded a lis pendens and filed a foreclosure action against a borrower and claimed the homeowners association as having a possible interest in the property.  While the bank’s lawsuit was pending, the association filed its own foreclosure lawsuit against the borrower in a different court and received a final judgment of foreclosure. 

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Condominium Reprimanded in Foreclosure

A North Miami condominium association got a sharp scorn from the Third District Court of Appeal, which may penalize it for a lawsuit the panel called a “waste of time.” Biscayne Point Condominium Association must show why it shouldn’t be sanctioned in its litigation with HSBC Bank USA N.A. over a condo unit the bank state the group illegally controls.

Their quarrel centers on whether Biscayne Point gave suitable notice to the correct lienholder prior to foreclosing on homeowner Michael Leavitt for unpaid condo assessments.

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Civil Procedure – Orders of Dismissal contrasted with Final Judgments and Decrees

In this Third District Court of Appeals case, the bank’s foreclosure lawsuit against the borrower was set for trial. The bank never received notice of the trial, so the bank’s foreclosure action was dismissed by order of the court when the bank did not appear for the trial.  More than two years later, the bank filed a motion to set aside the court’s dismissal of its foreclosure lawsuit, which was granted, and the bank then obtained a final judgment of foreclosure against the borrower.

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Is a Short Sale right for you?

Many South Florida borrowers are faced with a tough decision after defaulting on their mortgage loan… Is a Short Sale the right thing for us to do right now? The answer is actually not as complicated as you may think. Simply put, if you are ready to leave the property within 3-6 months and you require a little financial help in making the transition to your new home, then the Short Sale is the way to go.

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It Takes Two for the Foreclosure to be Through

Abusing the voluntary dismissal one too many times cost the foreclosure case for the lender who acquired the loan that had been previously sold at least twice. The Fourth District Court of Appeal took into consideration the amount of times a voluntary dismissal had been tied to the loan rather than the number of dismissals per plaintiff to overturn the foreclosure, leaving the homeowner attorney’s to celebrate. 

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Any information on this website is not intended to be communicated as legal advice. All information contained on this site is general and intended for information purposes only. For detailed legal advice regarding your loan modification, foreclosure, and/or bankruptcy needs, please schedule an appointment with the attorney. The Law Office of Emil Fleysher, P.A. is a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.