Fleysher Law Blog

Throughout the U.S., Florida has the highest number of “zombie” foreclosures. “Zombie” foreclosure is a term used for properties that are under foreclosure but have been abandoned. There are only 36,000 pending “zombie” foreclosures, which is a 35 percent decline from this time last year. However, other states such as California, Illinois, Indiana, New Jersey, New York, North Carolina, Maryland, Ohio, and Pennsylvania are also experiencing a high number of

A clerical error cost Bank of America a four year foreclosure case when it should have been something clear-cut. In 2009 the plaintiff was granted a final judgment against the defendant Heather Epstein, who moved out of the property the following year, and Bank of America took over the property with a new certificate of title. However, problems soon arose when the mortgage and all subsequent documents had an incorrect

One could assume that screwed up paperwork would cost the lender their case, but it doesn’t necessarily mean that because it depends on which judge is handling it. For BAC Home Loans Servicing LP, mishandled documentation during the height of the robo-signing cost them a foreclosure judgment against homeowner Rosanie Joseph because they failed to prove standing to sue. The foreclosure judgment passed by Palm Beach Circuit Judge Diana Lewis

Florida has a five year statute of limitations for mortgage foreclosures. This means that a foreclosure lawsuit can be filed within five years by the lender if a borrower defaults on his or her payments. But this leaves the question of whether the clock restarts if there is a case dismissal or if the time is still running from the original default. These questions have yet to be answered, but

Now that the tidal wave of foreclosure diminishes, legislators and judges are adjusting the law to determine who will responsible to pay past due balances, most of which are condominium fees. The Florida safe harbor provision puts a cap on condo assessments that are owed by “first mortgagee or its successor or assigns” who pick up title during the foreclosure process. They are liable for 1 percent of the original

An advisory committee to the Florida Supreme Court informed the Palm Beach Circuit chief judge that an administrative order that throws out certain motions in foreclosure cases as “abandoned” is a local rule. According to Florida Rules of Judicial Administration, a local rule is a rule of “practice or procedure” for trial court application only, because local conditions require. It provides an omission or facilitates an application of a statewide

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. There were 4,905 properties repossessed by banks in Florida, 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 REO’s in October.