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Fleysher Law Blog

Foreclosure Discounts

Foreclosure Discounts Shrinking in South Florida

Foreclosure discounts in South Florida are actually shrinking. Continue reading to find out more. The past year has seen heavy competition between potential buyers of foreclosed homes. The result of this is that the average price for a foreclosed home in Florida is nearly the same as for a non-distressed home. Nationally, bank-owned property price discounts fell to 7.7% from 9.1% a year ago. The smallest foreclosure discounts has led

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flopping

Latest Trend in Mortgage Fraud: Flopping

The number of short sales has more than tripled in the past three years. And, with that, the opportunity, or flopping, for fraudsters to make quick money has also grown. Known as “flopping”, an underwater seller arranges a short sale with their mortgage holder. Then, they intentionally mislead the bank about the condition of the property; in order to sell it for as low of a price as possible to

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New Foreclosure Filings Up

New Foreclosure Filings Up in South Florida for 2012

Over 5,100 foreclosure filings happened in South Florida in October 2012, a 50%+ increase from October 2011. More than 1/3 of the foreclosures (2,300) came from Miami-Dade County. Broward County had almost 1,800 foreclosures, up from 1,200 last year. Palm Beach County shows 1,100 new foreclosure filings, a big jump from the 757 in October 2011. Broward County is accounting for 42% of all the filings so far in 2012.

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new foreclosure filings

Palm Beach County Releases October Foreclosure Stats

The number of new foreclosure filings in Palm Beach County increased in October compared with the previous month; as well as with the same time in 2011, according to the latest statistics from the Clerk & Comptroller’s office. The 1,418 new foreclosure filings that occurred in October also pushed Palm Beach County’s foreclosure case total for 2012 to 13,057; exceeding the 12,154 cases filed for all of 2011. The number

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debt settlement companies

Debt Settlement “Programs” are Often Scams

Today, large amounts of debt are facing many Americans. Because of this, many debt settlement companies have popped up. They are promising consumers ways to get out of their debt in a relatively short amount of time. And, for less money than they actually owe. However, despite all their TV and radio advertisements, the industry admits that the debt settlement companies’ schemes fail to work for about two-thirds of clients.

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How Long Before You Can Get a Mortgage Loan Again?

As a Bankruptcy and Foreclosure Attorney, I am frequently asked how long after Bankruptcy, Foreclosure, or Short Sale a mortgage loan can be obtained. While everyone’s situation is different, the following table is a good overview. It elaborates on the relationship between mortgage loan, and bankruptcy, foreclosure, or short sale. Chapter 7 Bankruptcy or Chapter 11 Bankruptcy 4 Years Chapter 13 Bankruptcy 2 Years from discharge4 Years from dismissal date

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Bank of America and Countrywide

Bank of America / Countrywide HUSTLE Investors & Borrowers

In 2008, Bank of America purchased Countrywide and inherited its mortgage program called the “hustle”. This lawsuit claims that Bank of America continued to operate the hustle. It consisted of rubber-stamping risky home loans. And, then selling them to government-controlled Fannie Mae and Freddie Mac, throughout 2009 despite the program’s poor performance. In fact, Bank of America purchasing Countrywide, inheriting its program, and continuing to operate the hustle reminds us

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