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Fleysher Law Blog

REOs

In October, Florida Had The Most REOs In The Country

Florida leads the states with the largest number of REOs, bank repossessions, in October 2014 according to RealtyTrac. Maryland, however, has taken the lead in the highest foreclose rates of the nation. Banks in Florida repossessed 4,905 properties. This is 2,000 less than that in California. Ohio came in third with 2,057, Illinois with 1,620, Maryland with 1,602. And, four more states with more than 1,000 REOs in October. Although

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second mortgage

Bank of America Fights to Keep Second Mortgage From Being Void in Bankruptcy

In a few days, the Supreme Court will make a determination; whether homeowners who have filed bankruptcy are eligible to nullify a second mortgage. This is assuming that the property’s market value is lower than the amount owed on the first mortgage. Bank of America appealed twice to the Supreme Court. They were proclaiming that the second loans should not be “stripped off” when a homeowner files bankruptcy; even though

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bank account

For Nearly Three Years A Palm Beach County Woman Had Her Account Frozen

A Palm Beach County woman had her bank account frozen for nearly three years. This is until a Broward County circuit judge ordered Bank of America to unfreeze it and BB&T to refrain from the pursuit of collecting funds from her account. Amy Kodsi’s Bank of America account had $720,000 when it was frozen by creditors who filed a court judgment. This was due to her husband, who racked up

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zombie homes

Florida Still Leading The County With Largest Amount Of ‘Zombie’ Homes

A new report states that although the number of abandoned foreclosed homes has been decreasing locally, Florida continues to surpass the rest of the country with the number of zombie homes. By the end of the third quarter, the commonly named ˝zombie” homes in Palm Beach County are up to 2,749; which is around 35 perfect down from last year, stated RealtyTrac Firm. Broward County was down 19 percent from

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foreclosure cases

Court Rules In Favor of Defendants In Foreclosure Cases With Robo-Witnesses

The First District Court of Appeal has thrown out the evidence presented in three foreclosure cases. They did this due to the lenders’ witnesses being unqualified to testify. In two of the cases, the court stated that the lawsuits should get dismissal in favor of the homeowners. The banks have 30 days to file a motion for rehearing or the decisions will become active throughout the state. It has been

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