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Fleysher Law Blog

terminology

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

Terminology caused the bank to lose its case. 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, order of the court dismissed the bank’s foreclosure action. This happened 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

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Short Sale

Is a Short Sale right for you?

Many South Florida borrowers face 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. How to Know if it is the Right Decision? Simply put, if you are ready to leave the property within 3-6 months and you require a little financial help in making the

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Neighborhood Stabilization Initiation Program

Foreclosed homes to be rehabilitated for new buyers in South Florida

The housing organization in South Florida gets the opportunity to purchase over 2,000 homes in foreclosure. It could ultimately end up with individual homebuyers. The Federal Housing Finance Agency stated it is broadening its Neighborhood Stabilization Initiation Program to South Florida. And, 17 other metro areas across the nation. How does Neighborhood Stabilization Initiation Program work? Since the beginning of December, housing groups got the opportunity to purchase properties valued

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Foreclosures in South Florida

Foreclosures in South Florida are Gradually Improving

New foreclosures dropped dramatically across South Florida last month. Though the number of repossessed homes by banks has increased as the courts are clearing up the dockets. According to RealtyTrac, there has been a 53 percent decline since November of 2014 in foreclosures in South Florida. In November there were just 831 foreclosure lawsuits in Palm Beach, Broward, and Miami-Dade Counties. Since RealtyTrac began counting in January 2006, this has

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Broward County’s foreclosure division

Broward’s Foreclosure Division Needs Senior Judges

Broward County’s foreclosure division is going to need all the help it can get in the next few months to keep its head above water. After several layoffs, harsh budget cuts, and the county taking a huge hit during the collapse of the housing market; it is going to take nothing short of a miracle for the thousands of foreclosure cases to work through the already clogged dockets. The foreclosure

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Zombie Foreclosures

South Florida’s Zombie Foreclosures Have Plunged

Zombie foreclosures, or abandoned properties that are going through the foreclosure process, have had a dramatic decline in South Florida in the past year. According to RealtyTrac’s Zombie Foreclosure Alert, there has been a 46 percent decline in Zombie Foreclosure during the second quarter of litigation; which translates to about 7,021 properties. An attorney from Royal Palm Beach attributes this to higher knowledge of the law. Residents are aware that

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Chapter 7 Bankruptcy

Supreme Court Declares 2nd Liens Can’t be Stripped in Chapter 7 Bankruptcy

Banks win out after the Supreme Court ruled on Monday. They state that homeowners cannot rid themselves of a second mortgage by filing for bankruptcy protection. All nine Supreme Court justices unanimously agreed that filing for Chapter 7 bankruptcy will not void a junior mortgage lien. This is when the amount owed by the senior lien surpasses the current amount of the collateral; if the Chapter 7 bankruptcy code allows

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foreclosure activity

South Florida Had An Increase Of Foreclosure Activity In March

According to a study by RealtyTrac, March had an increase of foreclosure activity, reversing months of declines. February had 4,577 filings in the tri-county area. But, during March the foreclosure activity, that is, filings went up to 6,329 for the tri-county area. The filing counts as a repossession, a judgment, or a new foreclosure lawsuit. Broward County was at the top of the tri-county area with 3,169 foreclosure filings during

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foreclosure filings

February Shows Major Improvements for Foreclosures

A 35 percent decrease in new foreclosure filings notable in Broward and Palm Beach counties. This shows how the improving economy and higher home prices are benefiting homeowners. In February 2014 Palm Beach County had 342 new filings, in February 2015 only 223. Last year Broward County had 690 new filings in February but in 2015 there have only been 448 new filings. However, Florida still has the third-highest foreclosure

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