Category: Mortgage Loan Modification

Government Proposes Renting Homes Seized in Foreclosure

Fannie Mae and Freddie Mac seek to reduce losses, stabilize neighborhoods and support housing values by turning into rentals a portion of the more than 180,000 repossessed homes in their

HOA Prodding Resistant Banks to Act on Distressed Condo Units

In addition to homeowners, Home Owner's Associations (HOA) are victims of the foreclosure crisis as well. When homeowners stop paying maintenance fees or assessments, associations start facing serious problems. Some associations have more than 50% of their units delinquent. Under Florida law, HOAs can foreclose on owners for the delinquent fees and can take a

Florida Supreme Court Reopens Settled Foreclosure Case

The Florida Supreme Court decided it would consider a settled foreclosure fraud claim as an issue of great public importance that may dramatically affect the mortgage foreclosure crisis in this

Fannie & Freddie Suspend Foreclosure Evictions for the Holidays

National mortgage backers Freddie Mac and Fannie Mae announced this morning that they are suspending foreclosure evictions and lockouts from Dec. 19 through Jan. 2, 2012.

Foreclosed Homeowners may have their Cases Reviewed (by the Same Banks that Improperly Foreclosed on them).

Approximately 4,000,000 foreclosure cases completed in 2009-2010 are under review. And, the injured borrowers are getting an opportunity to have their foreclosure cases reviewed for reimbursement payments. Unfortunately, whether a borrower will get a reimbursement is up to the same lender accused of moving too quickly to seize their home. Starting November 1st, mortgage lenders

Shortcomings of the Residential Mortgage Foreclosure Mediation (RMFM) Program recognized by Panel

Panel Urges Abolition of Mandatory Mediations. The group has recommended that the mandatory foreclosure mediation program should be abolished and replaced with a plan that allows courts to opt into the

Foreclosure Activity on the Rise Again in South Florida

Foreclosures are picking up again in South Florida after the year long slow down resulting from the Robo-Signer

Can my Homeowner’s Association (HOA) foreclose on my home?

Many borrowers that have stopped making their mortgage payments are unsure as to whether or not they should continue making payments to their homeowner’s association; commonly referred to as their HOA. My clients that are facing foreclosure often ask what the consequences are for not paying the HOA. And, they are often surprised with my

Homeowners are Sinking Deeper Underwater

According to a recent Bloomberg article, more than 28 percent of U.S. homeowners owed more than their properties were worth. This is in the first quarter of 2011. This was the biggest drop in U.S. home values since 2008. Home prices fell approximately 3% in the first quarter of 2011. And, they are expected to

Can a Mediation Save your Home from Foreclosure?

In 2009, Florida Supreme Court issued an order mandating foreclosure mediation for all residential homesteaded properties. In other words, upon filing a foreclosure action on a primary residence, the banks now have to attend mediation with the borrower. This is before the case can proceed, or at least provide the borrower with the option. Under