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Fleysher Law Blog

Freddie Mac Bets Against Homeowners and Refinancing

A new report claims that Freddie Mac betrayed American homeowners. That is after placing multibillion-dollar bets that will pay off if homeowners remain shackled by costly mortgages with interest rates well above current rates. Interest rates now reach as high as seven percent. The company does not want borrowers to default on their mortgages. However, it’s also not in its best financial interest to have them shift to less expensive

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Underwater Homeowners may get Help from HARP 2.0

Homeowners who owe substantially more than the value of their homes are probably too far underwater to refinance their debt anytime soon. But those who have less debt soon may have an opportunity to refinance at lower interest rates; with renewed help from the government. The government has revamped its Home Affordable Refinance Program or HARP. It will help more borrowers refinance mortgages owned by Fannie Mae and Freddie Mac.

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Bill Killed that would Move Foreclosure Notices from Paper to Websites

A bill has been killed that could have led to foreclosure notices disappearing from newspapers and going to websites. The sponsor argued that the county clerks of the court should be able to decide whether to continue the decades-old practice of publishing foreclosure notices in newspapers. Or, placing them on non-newspaper websites. Newspaper officials argued that most papers already put notices online, along with publishing them in print. Further, many

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Foreclosure Backlog Expected to Increase as more Filings are Expected

Foreclosure filings are expected to begin increasing in Florida again. So, the state court system has a multi-year plan to deal with the hundreds of thousands of expected new filings. The backlog of cases is expected to grow by another 380,000 cases by 2016. This is when foreclosures should return to their normal rate of 70,000 cases per year. The plan to deal with the new filings is basically the

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