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Fleysher Law Blog

Florida Grabs a Chunk of Foreclosure Settlement Money for State Budget

Out of $334 million in cash payments sent to Florida in a multibillion-dollar mortgage settlement with major banks, more than $33 million will help strengthen the state’s budget. In fact, Florida is one of several states taking a portion of the $2.5 billion in cash payments from banks. And, Florida is using it for programs not directly related to the foreclosure crisis. So, Florida’s total take in the $25 billion

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Lenders Prefer Short Sales to Foreclosures

Short sales are exceeding the number of foreclosure sales in South Florida. Broward County had 1,831 short sales in the first three months of 2012, compared with 1,476 foreclosure deals. On a quarterly basis, this is the first time short sales have outnumbered foreclosures in Broward since early 2008. Short sales also exceeded foreclosures in Palm Beach County and across Florida from January through March. Banks are more motivated to

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Voluntary Dismissals and Foreclosure Paperwork Irregularities Examined

The Florida Supreme Court got a request. It has to do with the prevention of lenders from escaping sanctions for using fraudulent documents by filing voluntary dismissals. The issue is whether courts have the authority to reject the voluntary dismissals of the cases. And, instead impose sanctions, including dismissing the foreclosures with prejudice. Attorneys asking for dismissal with prejudice argue. They state that the current system allows every party who

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Forced Placed Homeowners Insurance Policies

If you think your homeowners insurance is too expensive, then you would be interested to hear Mark Kunzelmann’s story. Mr. Kunzelmann is a 49-year-old network specialist. Just over a year ago, he let the policy on his four-bedroom, North Palm Beach home expire. But you would not believe what the oversight, which was later remedied, cost him, approximately $10,000 for a few months’ worths of coverage. If your home is

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National Mortgage Settlement

National Mortgage Settlement seems to take some time. As part of the national mortgage settlement signed in March of 2012, Chase, Bank of America, Citigroup, Wells Fargo, and Ally Financial have agreed to offer at least $10 billion in loan forgiveness or principal reduction. In fact, they are offering it to an estimated 11.1 million homeowners who are in default or underwater. After three months the banks’ distribution of this

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