Category: Foreclosure

Unpaid Assessments After Foreclosure, Who is Responsible?

Now that the tidal wave of foreclosure diminishes, legislators and judges are adjusting the law. They are doing this to determine who will respond to pay past due balances, most of which are condominium fees. The Florida safe harbor provision puts a cap on unpaid condo assessments that are owned by “the first mortgagee or

An Attorney's Challenge To A Foreclosure Order Was Supported By Advisory Panel

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;

Home Price Gains Have Slowed Down

September brought on the slowest rise in home prices while providing decent sale gains and more variety in sale inventory. According to the Standard & Poor’s/Case-Shiller index of home prices in 20 major cities, September marked a 4.9 percent increase; in comparison to a year ago but a 5.6 percent decrease compared to August. For

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,

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

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

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

Associations Need To Be More Diligent During The Foreclosure Process

Homeowners and condominium associations were doing an adequate job of collecting monies. This is due to them including write-offs that were so troublesome or hard for the association to deal with. This is all before the market crashed in 2008. The court system became highly overwhelmed with mortgage foreclosures. And, unchallenged cases would typically take

Foreclosure in Palm Beach County are Continuing to Decrease

Palm Beach County has a small increase in new foreclosure cases in September; however, they were still lower than in September of last year. This is all according to the Clerk & Comptroller’s latest statistics in Palm Beach County. In September, 484 new foreclosure cases were filed. 480 cases were filed in August providing a

The Drop in the Market Might Be a Blessing In Disguise For Refinancers

An absurd amount of Americans are questioning whether or not they should refinance their mortgage. This is due to the unexpected fall of rates last week. These inquiries were coming in by the millions from current homeowners and soon-to-be-homeowners who are looking for a bargain. The favorable circumstance came from the commotion that got the